France
Paris
"[Paris is] a global center of innovation [and] a magnet for tech talent, including more than 40 nationalities within our local engineering teams."
Highlights
Paris dominates the French startup scene and is a consistent European leader in the space. The capital city is home to more than 8,000 startups, as well as the world’s largest startup campus, Station F. French startups raised €8.3 billion in 2023, and France was one of just two European countries that had more fund closings in 2023 than 2022. The Paris-Saclay campus, a leading R&D hub, boasts the highest number of highly cited researchers in the world—those who have published scientific publications which rank in the top 1% by citations for their fields. The French Tech Next40/120 program aims to support French startups in becoming world-class technology leaders and acts as a laboratory for innovation policies.
The French government launched Tibi 2 in 2023, a $7.6 billion investment dedicated to decarbonization tech startups. The 2023 Green Deal Industrial Plan aims to enhance the competitiveness of France's net-zero industry and support the transition to climate neutrality. In January 2024, the European Commission approved a $3.1 billion fund to support a French tax credit for investment in green industries.
In December 2023, VC firm Singular raised $435 million in its second fund. Paris-based Quantonation is the first dedicated quantum fund in Europe. In June 2023, SISTA, which campaigns for more funds for female founders, hosted the first SISTA Summit with a focus on financing challenges of women entrepreneurs. The Venture Capital Forum was held in Paris in October 2023. VivaTech is held in Paris each year, attracting innovators and tech leaders from around the world.
Ecosystem by the Numbers
Sub-Sector Strengths
Fintech
The Paris Fintech Forum was held in May 2023 and introduced the now annual women in finance lunch. Financial management platform Pennylane raised $107.7 million over four rounds, including a Series C in May 2023. Fintech startup Aria raised $75.5 million over three rounds, including a December 2023 Series A round. Fintech lending platform Arrago raised a total of $68.5 million in funding over four rounds.
Cleantech
France added an extra €7 billion in its 2024 budget to meet its climate goals, which include $2.37 billion to make buildings energy efficient and $1.94 billion to stoke energy technologies. The nation also outlined an ambition to have 25 green unicorns by 2030 and €54 billion of the France 2030 budget targets Cleantech industries. The International Conference on Renewable Energy and Sustainable Energy was held in Paris in March 2023. Eco-friendly lithium extraction developer Adionics raised $27 million in a November 2023 Series B round.
AI, Big Data & Analytics
Paris AI Week showcases the French AI ecosystem. Big Data & AI Paris 2023 attracted 15,000 participants in September. Paris will host the World Congress on Artificial Intelligence + Medicine 2024 in November. Analytics forecasting platform Pigment raised a total of $251.9 million in funding over five rounds. AI software company Aircall raised a total of $237.6 million in funding over 11 rounds. AI platform Poolside raised a total of $126 million in funding over two rounds.
Reasons to Move Your Startup to Paris
Market Access
France is home to 67.3 million domestic consumers and provides easy access to the wider European Union market. The French economy is the eighth strongest in Europe, and the unemployment rate remains consistently low.
Transportation Links
Paris’ Charles de Gaulle Airport is the fourth busiest airport in Europe, and France also has one of the most developed railway systems in the world. With its six major train stations, Paris is well connected to much of Europe by rail. The Eurostar takes travelers from Paris to London in just over two hours. Plans to connect Paris and Madrid with a high-speed train line by the end of 2024 are under way.
Excellent Educational Institutions
Paris is home to 21 top-tier business schools and a top engineering university. Insead ranked #2 overall in the 2023 Financial Times Global MBA ranking. HEC Paris is among the top five universities in Europe for producing graduates that go on to found startups. The Paris-Saclay-Boston Women's Entrepreneurship Class encourages and promotes women's careers in startup creation.
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