11 Août France: Fastest-Growing Unicorn Companies Europe
What has France been breeding? Unicorn companies, that too at the fastest growing rate in Europe.
According to the Financial Times, France is just a deal shy away from having raising 28 unicorns – that is start-ups that are values at 1 Bil Euro or more.
French tech start-ups are on the roll – Of the primary European tech hubs, France is the quickest in growing. In just the last 3 years, France tripled in unicorn companies while the number of unicorn companies grew by 69% in UK and 44% in Germany. Sweden comes the closest with a 165% increase in the same 3 years.
Europe is developing to be the fastest-growing market for venture funding, quicker than even US or China. Experts mentioned that France is turning into ‘as strategic as Germany and the UK for tech funding’.
Yoram Wijngaarde, Dealroom founder, mentioned there was one thing taking place in France, with US tech buyers propelling native start-ups to unicorn standing. “Inside Europe’s huge tech hubs — London, Paris, then Berlin — Paris is the quickest rising,” he added.
In fact, data has shown that North American investors have grown their investment in French start-ups in the last 12 months from 13% to 31% – That is just inches away from the UK and Germany which sits just over 40%.
Reforms to wealth and dividend taxes and a tech visa to fast-track non-EU start-ups have all helped to encourage an extra dynamic start-up scene. New and dedicated funds have additionally contributed by sowing seed capital.
This is on track with President Emmanuel Macron’s vision and promise of making France a ‘nation of unicorns’.
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