France pushes to be next home for European start-ups

vendredi 16 septembre 2016

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 U.K..

Following the U.K.'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 U.K. 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's Julia Chatterley about the opportunities for young entrepreneurs looking to start a business in France.

"The amount of investment from VC 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 U.K. 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.

"Many London startups and other businesses have a huge contingent of EU nationals. British nationals made up less than half the workforce in my previous business," he added.

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France pushes to be next home for European start-ups

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