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Yearly, the French authorities and the government-backed initiative La French Tech shares two startup rankings — the Next40 and the French Tech 120. The startups on these lists are imagined to be respectively the highest 40 and prime 120 top-performing startups based mostly in France.
That is the third time the French authorities places collectively these lists. Out of the 120 startups within the French Tech 120, 84 of them are nonetheless on this 12 months’s index. 36 of them are showing on the checklist for the primary time.
Two of them had been within the Next40 final 12 months and don’t seem this 12 months due to a public providing — OVHcloud and Consider.
Right here’s this 12 months’s French Tech 120 — the crimson logos are a part of the Next40:
Picture Credit: La French Tech
There are two methods to get accepted within the Next40:
- You’ve gotten raised greater than €100 million over the previous three years ($112 million at at this time’s price) or you’re a unicorn, which suggests your organization’s valuation has reached $1 billion or extra.
- You generate greater than €5 million in income with a year-over-year progress price of 30% or extra for the previous three years.
As for the remaining 80 startups within the French Tech 120:
- 40 of them have raised greater than €20 million in a funding spherical over the previous three years.
- 40 of them are chosen based mostly on the annual turnover and progress price.
After all, these indexes are restricted to non-public French firms working within the innovation sector. For the French Tech 120, there are at the very least two startups per administrative area.
2021 has been a blockbuster 12 months for tech funding across the globe — and that’s true for France as properly. “Right now, you must increase at the very least €50 million to be within the Next40,” France’s digital minister Cédric O mentioned in a press convention. In 2017, French startups collectively raised €2.5 billion. In 2021, they raised near €12 billion.
Along with funding rounds, he listed different wins for the French tech ecosystem. For example, there have been two IPOs over €1 billion in 2021 — that’s as many IPOs over €1 billion as previously 25 years.
There have been some consolidation as properly. In latest weeks, Doctolib acquired Tanker, Luko additionally acquired its German competitor Coya, but in addition Frichti was acquired by Berlin-based startup Gorillas.
“I needed to rapidly remind everybody what the Next40 and French Tech 120 are. Many suppose that it’s a rating. Of coure it’s a rating and you may be proud to be a part of it,” La French Tech director Clara Chappaz mentioned.
“However along with the rating component, it’s a help program. There are a couple of members of the French Tech mission at this time who act as startup managers. They help startups like Again Market and all the businesses which you could see right here to facilitate interactions with public administrations on all types of points,” she added.
There’s a French Tech consultant in 60 totally different administrations. They attempt to assist startups in relation to acquiring visas for overseas workers, getting a certification or a patent, promoting a product to a public administration, and so on.
One factor stands out although. Like in earlier years, the French authorities thinks tech startups ought to do extra in relation to range and inclusion.
Whereas there at the moment are 14 feminine founders within the French Tech 120 as a substitute of seven, “we have now to do extra in relation to selling girls within the ecosystem,” Cédric O mentioned.
And since there’s a presidential election developing, Cédric O additionally listed a number of the coverage modifications which have helped startups over the previous 5 years.
“With out the wealth tax [ISF] reform, with out the flat tax, with out the labour market reform, with out the Tibi initiative, with out the inventory possibility [BSPCE] reform, with out the French Tech visa, […] the French Tech wouldn’t be the place it’s at this time,” Cédric O mentioned.
Final 12 months, the French Authorities additionally shared the Green20, a program devoted to greentech startups because it often takes extra time to lift some huge cash or generate a variety of income once you’re a greentech startup. The federal government didn’t point out this particular program in its press convention.
With 26 startups reaching unicorn standing, the French tech ecosystem has been doing significantly properly currently. However in case you take a step again, final 12 months, the variety of unicorns all over the world jumped from 569 to 959 unicorns.
These two metrics show that the tech business is changing into increasingly more necessary within the financial system as an entire, and that it’s a worldwide competitors. Some French startups are on the precise path to grow to be European or international leaders of their respective vertical. And it’s going to be attention-grabbing to see who’s going to show a neighborhood success into a worldwide one.
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