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4 September 2020

Strong performances by France’s innovative businesses

The Government hails the growth of the "La French Tech" ecosystem, which takes second place in the European fundraising rankings.
 
La French Tech, a unique ecosystem bringing together startups, investors and decision-makers, is continuing to climb up the global rankings, securing 2nd place in the EY Venture Capital Barometer for the first half of 2020.

Despite the major economic repercussions of the health crisis, France’s innovative businesses have been pushing on with their growth strategies, rolling out 360 fundraising events for a total amount of €2.7bn over the first six months of 2020. In Europe, this figure puts France in second place. The resilience of the La French Tech ecosystem thus sets it apart – its position has changed little compared with the first half of 2019.

These promising figures are partly driven by fundraising events bringing in more than €50m, which have risen by 4% up to €1.1bn. La French Tech is also well represented on the ranking podium with three companies (Ecovadis, Contentsquare and ManoMano) among the top ten in terms of amounts of funds raised in Europe.
 
Portrait of Cédric O
"These results reflect La French Tech’s maturity and show that the Government’s efforts to support startups are bearing fruit. But given how fierce the global competition currently is, we must continue to accelerate. This is why, yesterday, together with Bruno Le Maire, we announced investment in the context of the recovery plan of more than €3.7bn over two years for startups (…). In 2019, the digital tech sector created more jobs than any other in France."
Cédric O, Minister of State for the Digital Transition and Electronic Communication, attached to the Minister of the Economy, Finance and the Recovery and the Minister for Territorial Cohesion and Relations with Local Government.
4 September 2020.