With a GDP of US$2.6 trillion (S$4.2 trillion) in 2017, France is the world’s sixth largest economy and the third largest economy in the European Union after Germany and the UK. Key growth industries include aerospace and defence, civil engineering, consumer goods, energy, telecommunications, and tourism.
French President Emmanuel Macron has pledged to turn France into a “Startup Nation”, with the country investing heavily in research and development (R&D) in recent years. France has also launched initiatives in the French ecosystem such as Station F (the world’s largest startup campus), the French Tech visa (a visa for entrepreneurs), VivaTech (an annual tech conference) and Ecole 42 (a tuition-free computer programming school).
There is growing startup activity in France, accelerated by a series of initiatives launched by the French Government. As of October 2019, there were 11 unicorns in the nation. Fundraising landscape has also become more vibrant with French startups raising €2.79 billion (S$4.2 billion) in the first half of 2019, up 43% from the previous year.
Based on World Bank estimates in 2018, France had a GDP of approximately US$2.78 trillion (S$3.86 trillion) and represents one of Europe’s larger economies. Of this, Paris leads the country, contributing to 30.5% of the French GDP.
According to Startup Genome’s Global Startup Report 2019, Paris is ranked ninth among the global startup ecosystems and is within the top ten cities in terms of the connectedness of the startup ecosystem. There is a strong presence of institutes of higher learning, MNCs and investors. Paris also has the highest concentration of Fortune 500 corporate headquarters in Europe. Various French MNCs have recognised the concentration of startup activities in Paris and have set up acceleration programmes in the city accordingly.
Paris has a large pool of available talent, which is evident through the development of Paris-Saclay. Paris-Saclay is a research-intensive business cluster encompassing research facilities, universities, French higher education institutions (Grand Ecoles) and research centres of private companies. There are approximately 60,000 students doing their Master’s degrees and PhDs in the cluster.
Hello Tomorrow is Enterprise Singapore’s Global Innovation Alliance (GIA) partner for France. Hello Tomorrow is the world’s largest community of deep tech players, connecting more than 28,000 actors in over 120 countries. They are on a mission to unlock the power of deep tech to solve the world’s toughest challenges, through scouting, the development of global ecosystems, innovation consulting and the establishment of a deep tech observatory. The organisation’s regional hub, Hello Tomorrow Singapore, reaches players in Southeast Asia, Hong Kong and Taiwan.
Hello Tomorrow also organises two signature initiatives, Hello Tomorrow Global Summit, a global deep tech conference, and the Hello Tomorrow Global Challenge, a global startup competition which attracted more than 5,000 applications in 2019.
For more information, please visit hello-tomorrow.org.
Hello Tomorrow is partnering Enterprise Singapore to run the Hello Tomorrow Innovation Alliance, a Global Innovation Alliance (GIA) Acceleration Programme that will support Singapore-based startups and SMEs in entering France through Paris.
The Hello Tomorrow Innovation Alliance is an in-market, growth acceleration programme that assists Singapore-based deep tech startups and SMEs in expanding to Europe via a landing pad in Paris, France.
The programme is split into three phases:
Interested applicants should note that participation in Phases 1 and 2 is not a prerequisite to participate in Phase 3, but it is highly recommended in order to adequately prepare for successful expansion to France. Phase 3 is optional and only for suitable candidates.
The total programme fee for Phases 1 and 2 is S$5,000 per startup or SME, after support from Enterprise Singapore.
Interested applicants can find out more at htinnovationalliance.com or contact the key personnel below: