French startups can apply to the Next40 and French Tech 120

By | November 6, 2020

Last year, the French authorities and the government-backed initiative La French Tech unveiled an index of French startups in order that it could be simpler to determine them. The 40 top-performing startups get the label Next40, and the highest 120 startups are grouped into the French Tech 120 — it’s a play on phrases with the CAC40 and SBF 120 inventory indexes.

Right here’s a listing of the 40 non-public firms on this 12 months’s Next40:

Picture Credit: La French Tech

However making a membership with out perks could be a bit ineffective. That’s why you get some perks as a member of the Next40 and French Tech 120. These firms routinely entry a fast-track administrative system — each startup will get a consultant for his or her explicit wants.

For those who’re going through administrative points, corresponding to getting visas for overseas staff, getting a certification or a patent or promoting your product to a public administration, you’ll be able to extra simply discover the best individual that may resolve your difficulty.

“The best factor is that they’ll ask us for something: ‘I’m about to do bizdev in China,’ ‘I’m launching a rocket and I would like to check it on an area facility’ or ‘I’m hiring 50 individuals and I would like them and all their households right here,’ ” La French Tech director Kat Borlongan told me last year.

Now, the federal government is engaged on refreshing the index. And with the intention to do this, you’ll should apply and match the very same standards as final 12 months.

After getting confirmed that you just’re an impartial French startup, there are two alternative ways to get accepted within the Next40:

  • If in case you have raised greater than €100 million over the previous three years or if your organization has a valuation of $1 billion or extra, you’re routinely a part of the Next40.
  • For those who’ve closed “probably the most vital funding rounds of the previous three years” and also you generate greater than €5 million in income with a year-over-year development price of 30% or extra for the previous three years.

As for the remaining 80 startups within the French Tech 120:

  • 40 of them might be chosen if they’ve raised greater than €20 million in a funding spherical over the previous three years.
  • 40 of them might be chosen primarily based on the annual turnover and the expansion price.

Some firms within the Next40 will stay within the index, others will depart the index. And the federal government is okay with that.

“Within the coming years, some firms will shut down, others will get acquired by French and overseas firms. It’s regular and wholesome,” France’s digital minister Cédric O stated in a press briefing.

There are two new issues which are value highlighting. First, the federal government has signed a partnership with Euronext to teach entrepreneurs about going public. There are few public French tech firms, and the federal government hopes it may reverse this development.

Second, in January 2021, the federal government can even choose 20 greentech startups to allow them to entry the identical fast-track packages. It’ll be a separate listing.

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