Each startup nation today seems to have its own cluster of excellence around its champion area of competence. Whilst the 9,500+ French Tech startups are thriving in a diversity of areas from IoT, FinTech, MedTech to FoodTech and more across the country and across the world, Deep Tech looks like France’s new frontier. And there’s plenty of evidence to prove it.
The Deep Tech Global Investor Survey just released this week by Wavestone confirms that France with its strong and rigorous scientific and mathematics culture is one of the top five countries in the world spearheading the development of this fast-emerging technology.
Great expectations for France
Deep Tech has been the dominant tech area over 2017 for investors and just over 60% of these investors rank France in their top 5 destinations in Deep Tech. France leads in 2017 VC fundraising in Europe, with a staggering 2.7 billion euros raised, against 2.3 for the rest of the continent.
So what are the key factors drawing investors to Europe, and more specifically to France? The quality of research and the number of highly qualified researchers, a scientific culture and access to finance.
France is a fast-rising up-and-coming hub for Deep Tech in Europe and in the world. Not only is it a hotbed of start-up activity, but the Wavestone survey shows that investors are placing high hopes and expectations on the French market. With its recognized scientific excellence, its talent pool, top universities and engineering schools offering 18 different Master’s degrees in AI, France has what it takes for Deep Tech exploration and development. Not to forget that France has the most Fields Medalists in Europe. And that’s not all: France is leading the pack in government grants and access to incubators and collaborative spaces – ahead of the US, the UK and Israel. Not surprisingly, global leaders like Facebook, Google and Apple have already set up their key AI research centers in France
With such a favorable environment, investors see a bright future for the growth of the sector: 80% of them expect the growth to be stronger in France than in the rest of Europe.
5 French Tech fast-growing AI startups
Deepomatic that empowers businesses by delivering tailor-made computer vision AI and ensuring they get the most out of their images.
Recast AI, a leading AI bot platform in enterprise customer service. The collaborative platform that builds, trains, deploys and monitors intelligent bots for developers.
CosmoTech helps the C-suite make optimal decisions with augmented intelligence in complex systems.
Tellmeplus leverages machine learning and big data to automate the creation and deployment of predictive models, augmenting human experts for faster and more accurate predictions in customer and asset intelligence.
Snips develops algorithms to make connected devices autonomous.
The ultimate purpose of Deep Techs and their scientific and humanitarian aspirations nicely match up with the French desire to be a forerunner in resolving global issues. Its longstanding scientific excellence combined with its new entrepreneurial momentum are the positive signals of France’s strong potential in Deep Techs.