French tech scene: expectation and prediction in 2022

French tech scene: expectation and prediction in 2022
Events

There has been a rapid growth of the French tech ecosystem in recent years. This is mostly due to an influx of top-notch young professionals, rising VC investments, and an ecosystem that promotes growth.

La French Tech is one of the supporting movements attempting to promote the French tech scene. It has been working since its creation in 2013 to make France become one of the greatest countries to grow and launch international firms producing forward-thinking services and solutions.

La French Tech works as an innovative movement that brings investors, startups, community builders, and policymakers together while acting as an instigator for startups to scale and grow in the country and beyond. 

Meanwhile, 2021 was great for the French startup scene as positive news, and several milestones were experienced. In particular, over €10 billion was raised, 12 new unicorns came, 22 mega deals of more than €100 million were made, 47 of more than €50 million, and two emblematic IPOs, including the flagship OVHCloud. 

In fact, the French tech scene achieved and broke all its records in 2021. This trend is likely to continue in 2022.

You may ask, what can one expect from the French startup scene in 2022 and beyond?

The global economy is undergoing a robust technological transformation. And in a backdrop of digitization of SMEs and local authorities, of technological transformation of industrial SMEs, just about everywhere in the world, the solutions of French Tech and the ‘made in France’ innovations have their place.

Though this is not without problems that might impede French tech global emergence and as a top European tech leadership. 

Consequently, attracting investors and talents is a key to the French startup scene’s advancement in 2022. And there are some activities in this regard already.

For instance, the 120 startups under the French Tech Next 40/120 program aim to create over 200,000 works by 2025.

SMEs and tech startups are increasingly seeking to employ multicultural and French profiles and international and French talents who have experienced diverse ecosystems at various stages in diverse locations. 

2022 is a starting point for France’s reindustrialization 

Emmanuel Macron, in October 2021, introduced the €30 billion “France 2030” recovery plan that would affect the French economic landscape during the post-Covid era.

From the funds, €15 billion would be invested to encourage startups spearheading innovation while ushering in France’s reindustrialization.

Also, €5 billion from the funds would enter into DeepTech startups. At the same time, €1 billion would be invested in digital jobs training. 

The rest of the funds are allocated to places that can indirectly profit from the startup scene. 

With this financial and institutional support, French startups will be the driving or major force of the key sectors of the French economy.

Photo by Soumil Kumar from Pexel