The rise of tech start-ups in France

In 2019 Emmanuel Macron set the ambitious target of reaching 25 “Licornes” (Unicorns) by 2025. A Unicorn is defined as a tech start-up which has reached a valuation of over $1 billion and is a strong example of Macron’s desire to further modernise the French economy, placing tech at the forefront.

The 25^th “Unicorn” was Exotec, a tech start-up based in Lille specialising in Robotics, reaching its valuation on the 17^th of January, prompting Macron to release a video celebrating reaching the milestone three years ahead of schedule. The easing of both regulations in the tech sector, restrictions for foreign investors and experts to obtain visas, as well as schemes such as the French Tech Tremplin, have protected and encouraged these start-ups, with an estimated 20,000 now in operation in France. Macron has described the “Licornes” as the blueprint for other likeminded firms to succeed.

In fact the announcement of a 26^th Unicorn, an all-inclusive accounting platform known as Spendesk, swiftly followed, showing the rate of growth in the industry. Spendesk now aims to employ a further 700 French workers in addition to over 1 million jobs that have already been created in the tech sector. The results speak for themselves.

Here at Maupard we can help you establish yourself in France, taking advantage of innovative schemes such as this one. Feel free to check our website or get in contact to find out the wide variety of high-quality services we offer.