The French government is inviting Singapore entrepreneurs to join its startup ecosystem via its global competition called French Tech Ticket.
The competition hopes to attract Singapore 'startuppers', in the areas of Big Data, IoT, Fintech, and Cleantech. Following the success of the first season, the second season aims to host 70 winning teams in more than 40 high-caliber incubators around France as of next January.
The competition promises the fastest ticket to the booming innovation ecosystem in France, allowing local startups opportunities to expand their horizons and take their next big idea to new markets outside of Singapore, according to a press release.
As such, the winning teams will each be provided €45,000 in funding, and a 12-month tailored programme of Master classes, Networking Events, Mentoring sessions to accelerate their growth. They will also enjoy a fast-track procedure to obtain a French resident permit, and receive a soft landing pack to relocate easily to France.
Interested startups can register their interest from now till 24 August 2016 at www.frenchtechticket.com.
France: High up on the global innovation list
According to Eurostat, France is the first in Europe for the number of business startups. This may be due to the government's support of innovators and investors with 40 new measures since 2012. The French Tech Ticket competition is one of such measures which aims to unite, organise and promote the French startup ecosystem; find accelerators to boost their growth; expanding the French Tech community worldwide
Moreover, France has the second largest venture capital (VC) ecosystem in Europe, with VC representing 22 percent of all deals in France. While the overall VC funding in France reached $2 billion in 2015, venture capital investment in French startups grew significantly in the first half of 2015, with €759 million raised through 244 deals. In the first quarter of 2016, France became the European country with the most investments, while recording the highest growth from 2015
Today, the French innovation ecosystem is booming, with record numbers of startups, numerous companies receiving more than US$100 million in funding, and remarkable initial public offerings by companies such as Sigfox, Criteo, BlaBlaCar, DBV Technologies and Cellectis showing the way.
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