Edouard Philippe with ministers Le Maire and Vidal
22 June 2018

France’s ambitions for investment and innovation

On 21 June 2018, the Prime Minister, Édouard Philippe, travelled to Metz, where he visited the M2P Technological Research Institute (IRT) specialising in materials for the future. Technological Research Institutes are tools at the service of industrial research, tasked with developing highly competitive technological and economic sectors at the cutting edge of research and development.
 

The Government has made the choice of pursuing a robust and fully active public investment policy. “I believe in public investment. I believe in the ‘visible hand of the State’. I’m not sure that Silicon Valley would have developed as it did without orders from the American State”, Édouard Philippe asserted.

  • The commitment to promoting innovation has been given concrete expression by the Big Investment Plan (GPI), which is provided with a budget of 57 billion euros and finances such major priorities as energy transition, skills development, innovation and transformation of the State.
     
  • Another financial source: the Fund for Innovation and Industry (F2I), provided with €10 billion from privatisations included in the Action Plan for Business Growth and Transformation (PACTE), which will enable investment of between 200 and 300 million euros a year in disruptive innovation.

During his speech, the Prime Minister announced:

  • New decisions to improve governance, with setup of an Innovation Council to assist the Government in its strategic choices and an Oversight Committee to keep watch over best use of the GPI.
     
  • New sources of funding and new measures for supporting competitive clusters and other innovation ecosystems (IRTs, actors in technological transfer, etc.), with a new “French Tech Seed” fund that the State has provided with 400 million euros, to be used in particular to fund technological startups at pre-seed stage.