French Government and Government Supported Initiatives La French Tech Unveiled New indices that identify the most promising French startups. The 40 top performing startups are called Next 40, and the top 120 startups are categorized in the French Tech 120.
Next40 and French Tech 120 are somewhat new as it is just second edition Of those indexes. Of the 120 startups already present in French Tech 120 last year, 90 are still in this year’s index – 30 are new as there were 123 startups in last year’s French Tech 120.
Combined, they generate close to € 9 billion in revenue and provide jobs to 37,500 people. Revenue in particular is up 55% compared to last year’s French Tech 120.
Here is the list of French Tech 120 – Red logo is part of Next40:
There are two different ways to accept in Next40:
- You have raised more than € 100 million ($ 120 million at today’s rate) in the last three years or you are a unicorn, meaning your company’s valuation has risen to $ 1 billion or more.
- You generate more than € 5 million in revenue for the last three years with a year-over-year growth rate of 30% or more.
For the remaining 80 startups in French Tech 120:
- 40 of them have raised more than € 20 million in a financing round in the last three years.
- 40 of them are chosen on the basis of annual turnover and growth rate.
Of course, those indices are limited to private French companies. For French Tech 120, there are at least two startups per administrative sector.
Based on those metrics, French Tech 120 has a female CEO in only a few startups and the French government feels that tech startups should do more for diversity and inclusion. So a small group of people are going to work on the roadmap and some recommendations are being made to improve those numbers.
In addition to a cool logo for your website, part of the French Tech 120 comes with some perks. Those companies can use a network of French tech representatives in various public administrations.
For example, if you want to get a visa for foreign employees, get a certification or patent, if you want to sell your product to a public administration, it is easy for your company.
The French tech network has two new additions. From someone Conseil d’État Can help you when it comes to legal compliance. The government has signed a partnership with Euronext to educate entrepreneurs about going public.