Decision of French government is the milestone for development of its startup ecosystem – they raised the program, which enable foreign entrepreneurs to establish the company in France on convenient conditions. Startups, which want to enter the program must have up to 3 team members speaking English or French, should be in creation of growth phase, and volunteers have to live in France during 6-month long project.
In return, they get working visa and grant for each of the team members – up to 25000 euro per person. It is not the end of facilitation, which are provided for entrepreneurs. They can count on free office space in Incubator in Paris, and also on the help with developing the company. They will get a dedicated contact to the person, who will help with administrative procedures and will take part in mentoring sessions to support their startup development. There will be also close work with one of the 9 leading French incubator (providing help with fundraising strategy, expert advice and pitch practice). The aim of the 6-month program is to support the company from early stage startup to successful business.
So far, France is going to grant with this kind of help about 50 startups every 6 months. However, this country is not the pioneer in creating this kind of programs – the similar initiative was already launched in Chile (it was called Start-up Chile), where companies could get the grant, visa and mentoring. Of course it still confirms, that there is really dynamic and active startup ecosystem in France, and the government is doing everything to make starting and leading the startup even easier for entrepreneurs. More and more is being said about France as a “new startup republic” and the whole ecosystem got the name “La French Tech”.
If the program turns out to be success, that will have huge impact on considering the country as friendly for foreign entrepreneurs. The similar aim was to be achieved by program “Talent Passport”, which made working and living in France for qualified workers easier. The government is also providing administrative facilitations for students, who want to set up their own business. If French startup ecosystem growths in this pace, with increasing government support, we can count on emergence in France new paradise for entrepreneurs.
Source: Based on article from Techcrunch
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