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French Tech Start-Up Scene Booming
French Tech Start-Up Scene Booming

French Tech Start-Up Scene Booming

French Tech Start-Up Scene Booming

The start-up scene is booming in France, the deputy minister for innovation and digital affairs told CNBC, as the country pushes to attract more tech entrepreneurs from across Europe—including the UK.
Following the UK's Brexit decision, several European countries are trying to attract more tech companies and start-ups from London. In July, for instance, a billboard was spotted on the streets of the UK capital urging start-ups to move to Berlin.
French deputy minister Axelle Lemaire is also keen for start-ups to consider setting up in her country. She spoke to CNBC about the opportunities for young entrepreneurs looking to start a business in France.
"The amount of investment from venture capital funds is really on the rise," she added. "What I'm here to say is, come and have a real look at the reality of the innovation eco-system in France."
Lemair also addressed concerns about a lack of venture capital in France, an important factor for any start-up.
"The funding market is really opening. There's more competition, which I believe is very good," she said. "We're attracting foreign VCs, not just in Paris but across the country."
Before the vote in June, several European start-ups were concerned about the UK leaving the European Union due to its impact on the free movement of people.
"Our business really values the ability for EU nationals to be able to easily relocate to the UK (and vice-versa), so there's a definite risk there," Dan Rogers, co-founder of Copenhagen-based people analytics platform Peakon, which has an office in London, told CNBC via email in June.

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