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Last yr, the French authorities and the government-backed initiative La French Tech unveiled an index of French startups in order that it might be simpler to determine them. The 40 top-performing startups get the label Subsequent40, and the prime 120 startups are grouped into the French Tech 120 — it’s a play on phrases with the CAC40 and SBF 120 inventory indexes.
Here’s an inventory of the 40 non-public corporations on this yr’s Subsequent40:
But making a membership with out perks could be a bit ineffective. That’s why you get some perks as a member of the Subsequent40 and French Tech 120. Those corporations routinely entry a fast-track administrative system — each startup will get a consultant for his or her specific wants.
If you’re dealing with administrative points, comparable to getting visas for overseas workers, getting a certification or a patent or promoting your product to a public administration, you can extra simply discover the proper individual that can remedy your difficulty.
“The coolest thing is that they can ask us for anything: ‘I’m about to do bizdev in China,’ ‘I’m launching a rocket and I need to test it on a space facility’ or ‘I’m hiring 50 people and I need them and all their families here,’ ” La French Tech director Kat Borlongan informed me final yr.
Now, the authorities is engaged on refreshing the index. And so as to do this, you’ll have to apply and match the very same standards as final yr.
Once you will have confirmed that you just’re an unbiased French startup, there are two other ways to get accepted in the Subsequent40:
- If you will have raised greater than €100 million over the previous three years or if your organization has a valuation of $1 billion or extra, you’re routinely a part of the Subsequent40.
- If you’ve closed “one of the most important funding rounds of the past three years” and you generate greater than €5 million in income with a year-over-year development fee of 30% or extra for the previous three years.
As for the remaining 80 startups in the French Tech 120:
- 40 of them might be chosen if they’ve raised greater than €20 million in a funding spherical over the previous three years.
- 40 of them might be chosen based mostly on the annual turnover and the development fee.
Some corporations in the Subsequent40 will stay in the index, others will go away the index. And the authorities is ok with that.
“In the coming years, some companies will shut down, others will get acquired by French and foreign companies. It’s normal and healthy,” France’s digital minister Cédric O stated in a press briefing.
There are two new issues which can be price highlighting. First, the authorities has signed a partnership with Euronext to educate entrepreneurs about going public. There are few public French tech corporations, and the authorities hopes it can reverse this development.
Second, in January 2021, the authorities can even choose 20 greentech startups so that they can entry the similar fast-track applications. It goes to be a separate listing.
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