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France encouraging foreign entrepreneurs with French Tech Ticket

French startup & tech entrepreneur & influencer Roxanne Varza recently covered France’s announcement that it will be creating a more attractive business climate for foreign entrepreneurs in France.

Hollande_France_FTT_visa

March 2, 2016 by Roxanne Varza
FRANCE OPENS ITS DOOR TO FOREIGN ENTREPRENEURS

Today, was a big day for foreign entrepreneurs in France – who were received by the President at Elysée Palace. They are still few but the population is starting to grow. Especially now that La French Tech (France’s national program to promote and support its local tech entrepreneurs) has successfully launched a program specifically designed for foreign entrepreneurs called the French Tech Ticket.


#FTTicket by numbers

50 teams from over 1,000 applicants were selected for the first edition of the program. They represent 23 different countries. And let me tell you, their projects are incredible. Startups from Israel, the US, India, Russia, Chile and more have come to France to develop projects that concern everything from diamond-based water purification to construction robots. When I met the startups in February, I was literally blown away. Seeing these entrepreneurs confirmed a long-held belief of mine; France is actually insanely attractive to foreign entrepreneurs.

Not so easy?

France may not have a reputation for being the easiest country to do business in – but that reputation is dramatically changing. The government is striving to make radical changes and is really listening to the needs of the local ecosystem. Today’s event was proof to me that the administration is willing to make a difference. Obviously it’s even harder when once is a foreigner in France – which is why the French Tech Ticket’s approach is really spot-on. The 1-year program places entrepreneurs in various French incubators, provides financial support of up to 25,000 Euros, mentoring, tax breaks for the selected teams and more. It’s a really great first step in the right direction.

Foreigners, welcome to France.

Every year I am contacted by people around the world who want to come to France but they don’t know how to do it. Well, it’s about to get a LOT easier. People who want to launch startups, work in companies and whathaveyou – there are visas and programs that will come out within the next year for you. Just wait and see.

More to be done.

There is still a lot more that we can improve but I am truly excited to see that the government is finally paying attention to such an important topic – and acting on it. People seem to always think that French startups are, well, French. Not anymore. France is really going global.

France investing in its start-ups, launches new visa

The Economist recently had an interesting piece on multiple initiatives (by government and private venture capital investment alike) to encourage a blossoming of start-ups that Paris has not seen in years.

How this impacts you as potential or current expats: “Axelle Lemaire, the (Canadian-born) minister visiting NUMA, has launched a “tech visa” for foreign entrepreneurs.”

To learn more about this visa and the overall project to support French tech start-ups, you can peruse La French Tech.

Also of note: France is embarking on a “Come Back Home” campaign abroad to try to convince accomplished French expats to return to their homeland to help take the start-up economy to the next level.

I’ve included the Economist text below. Have any of my readers attended recent events in France (both Paris and other cities) related to start-up and tech investment?

Reinventing Paris
Start-up city

A capital seen as a museum develops new pockets of high-tech modernity
Jun 13th 2015 | PARIS | From the print edition

THE café is organic, the décor industrial loft-style and the furniture artfully mismatched. This is NUMA, a digital hub in Paris, where facial hair is abundant and ties are non-existent. Perhaps it is insouciance, ignorance or quiet concentration, but when a government minister turns up, nobody notices. A new generation is trying to reinvent how Paris behaves and looks.

It may not be Berlin or London, but something is taking place in the capital’s fringes and deserted industrial spaces. A city with more beauty and heritage than most, Paris is trying to shrug off its staid image. Scarcely a week goes by without an event devoted to start-ups in a converted dock or warehouse in an unfashionable area. On Paris’s eastern edge, Xavier Niel, an entrepreneur who heads a €12 billion ($13.5 billion) communications group, is building a start-up incubator with floor space equivalent to four football pitches. In the first quarter of 2015 a Paris venture-capital firm was joint-top investor in European technology start-ups, with two German companies, according to CB Insights, an American research group.

“There has been a transformation of mentalities in France,” says Mr Niel, who urges young people to take risks, think big and break conventions. “Entrepreneurship is a state of mind” reads a banner at NUMA, also home to Google’s Paris campus. The outlook is anti-hierarchical and anti-conformist. “Our force is cultural chaos,” says Frédéric Oru, a co-director. Another NUMA executive adds: “It’s not very French.”

One reason for change is that the young are no longer drawn to corporate life. Unemployment among graduates is 10%, and one in five of those who create new businesses are jobless. But some just want to do their own thing, away from the strict hierarchies of corporate France. A quarter of recent graduates of HEC, the top business school, have started their own company, up from one in ten a decade ago.

Second, successful entrepreneurs and investors now show what is possible. Mr Niel, who also built a software-development school in Paris, is one. Sigfox, a start-up that runs a cellular network for connected objects, pulled off the third-biggest European tech deal in the first quarter of 2015 when it raised $115m. BlaBlaCar, Europe’s biggest car-sharing service, raised over €100m last year. Incubators with names like TheFamily have grown. Facebook is opening a research centre on artificial intelligence in Paris.

Third, the Socialist government, which once whacked entrepreneurs with taxes, has changed. Instead of lamenting the loss of fine brains, it hopes to lure in foreign ones. Axelle Lemaire, the (Canadian-born) minister visiting NUMA, has launched a “tech visa” for foreign entrepreneurs. A public-investment fund, BPI France, is promoting start-ups. Early efforts to back incubators met “indifference and scepticism”, recalls Jean-Louis Missika, a deputy to the Socialist mayor, because “that wasn’t the image of Paris.” City Hall now wants to show that Paris is not just a living museum.

It is odd that the city lost its reputation for innovation. From avant-garde art to industrial engineering, it used to push the boundaries. The 1878 Paris World’s Fair showcased electric light; in 1889, the Eiffel Tower became the world’s tallest man-made structure. More recently, the urge to preserve has stifled innovation. Yet Paris is learning to reconcile history and modernity. On the edge of the Bois de Boulogne, a park, an elegant glass-and-steel structure designed by Frank Gehry for the Louis Vuitton art collection has met with admiration. Slowly, almost despite itself, Paris is rediscovering an innovative spirit.

French technological innovation and efficiency for cutting costs

November 25th, 2011 2 comments

I hope everyone had a nice Thanksgiving, and for those celebrating this weekend (comme moi), enjoy the festivities!

The Economist has an interesting piece in this week’s issue that talks about the newly automated line 1 of the Paris metro system which was completely outfitted with new technology and revamped to make it driverless.

Besides having better and more service during rush hour and a lower risk of accidents (automated line 14, which I take quite often, has had no accidents since its launch in 1998), the modernization of services also results in a welcome side effect for many: these automated lines will not be affected by the occasional public transport worker strikes since there are no drivers (see excerpt below).

What is your view on technology and innovation in France? Do you think labor costs are too high and discourages employers from hiring more often?

“…Strict labour laws, costly payroll charges and erratic strikes seem to make French firms especially keen on technology. Supermarkets, for instance, have enthusiastically adopted self-checkout tills. “All French hypermarkets have adopted this strategy over the past few years,” says Alexis Lecanuet at Accenture, a consultancy. The idea is to speed up queues at peak times for impatient non-technophobes carrying light baskets. But it also cuts costs. “Self-checkout has worked better in countries where labour is expensive,” says Serguei Netessine, a professor at INSEAD, a business school.

France excels at high-tech services: credit-card operated petrol stations, touch-screen fast-food counters, automatic car-washing. Two years ago, McDonalds pioneered the use of touch-screen, credit-card-based ordering in its French fast-food restaurants. Eléphant Bleu, a self-service high-pressure car-washing chain, has 472 outlets in France, and is expanding. All this in a country where the labour code runs to over 3,300 pages, an employer pays an average of 39% in payroll taxes, and unemployment is at 10%. Spot the connection.”

Internet as big as energy in France: 3.7% of GDP in 2010 and growing

French financial daily La Tribune reports that the Internet sector contributed to 3.7% of French GDP last year, worth 72 billion euros. It cites a report by McKinsey which states that the sector has created a net total of 700,000 jobs in France in the past 15 years.

At 14% annual growth, the sector should reach 5.5% of GDP by 2015, or 129 billion euros, creating another 450,000 jobs in France.

Moreover, companies that invest in new technologies (web sites, intranets…) have reaped the awards: “for every euro spent, they generated 2 euros in operating margins”, according to McKinsey.

The study was presented by Eric Besson, the French Minister for Industry, Energy and Digital Economy (Ministre de l’Industrie et du numérique) and co-fnanced by Google, which has participated in similar studies in the UK.

You can read the original article here and get a free PDF of the report (in French) here.

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