Hundreds of French Tech players are received this Monday, February 20 by Emmanuel Macron, in a difficult context to find funding.
A sector appreciated and highlighted by the Head of State. Emmanuel Macron welcomes this Monday several hundred French Tech players (companies, investors, institutions, etc.). He will take the opportunity to present the list of new companies that fall under the Next40 and French Tech 120 labels, which bring together the companies deemed the most promising. It should also put forward a roadmap for the sector for the “next 5 to 10 years”, specified an adviser to the presidency.
These labels, launched ten years ago, have highlighted start-ups that have since become heavyweights, such as Doctolib, Vestiaire Collective or Blablacar. French Tech 120 companies represent 50,000 jobs in France and Europe, up 70% since 2020.
Financing slowed down by the war in Ukraine
If innovative companies raised 13 billion euros in 2022 – a record – the pace clearly slowed in the second half and 2023 could be more difficult, according to the Elysée. Funding is slowing in particular due to the war in Ukraine. “The question is how to get through this phase, with public support,” commented an adviser to the presidency.
Regarding the relevance of the criterion of the valuation of young companies, so far calculated on a theoretical estimate in the light of the funds raised, the same source judged that “probably a correction will come”. The Elysée has also “asked the ministers to rework, for next year, on the way in which these criteria are calculated”.
“The goal is not to have unicorns (valued at one billion euros, editor’s note) to have unicorns but to have companies that reindustrialize and change lives,” concluded the adviser. As a reminder, Emmanuel Macron has set a target of 100 French unicorns in 2030.