For the 70 international startup teams who won the 2017 French Tech Ticket startup competition the final destination of their journey was success!
Just a few days ago on January 25th the 160 entrepreneurs who took part in the program, from 115 different countries, were invited by La French Tech for a final get together to share the outcome of their experiences in the presence of Mounir Mahjoubi, French Secretary of State for digital affairs.
After being hosted over the past year by one of the 41 French incubators in one of the 13 cities around France, as part of the prize package, 20 of the teams have raised funds of some €8.8M. 34 other fundraising deals are expected to be wound up shortly, estimated at €10M+. And 30 startups have signed significant contracts with French corporate groups with 24 more in the pipe.
Most of all, French Tech ecosystem has proven its attractiveness since 20 of the startup teams have now registered their company in France and 35 more are in the process of doing so. On the job creation end, 26 startups have recruited at least one person so far. And since those who decided to go back to their home country intend to act as French Tech ambassadors, La French Tech is a French Tech Ticket winner in all ways.
French Tech welcomes international talent
France with its natural penchant for tech innovation, combined with its new generation of entrepreneurs has created an aspiring and thriving international startup ecosystem that fully embraces cultural diversity. An ecosystem where startups can grow and flourish. The rising “startup nation” has opened its doors, rewritten its laws, reinvented its processes to attract and welcome talented and innovative entrepreneurs from around the world.
The French Tech Ticket is just one of its initiatives. Much more than just a visa for startups, the 12-month program offers end-to-end support on the journey from early stage startup to successful business, from financial support to mentoring, masterclasses, training and first customer acquisition.
Concretely speaking this means that winners of the French Tech Ticket can work closely with top caliber French incubators specialized in a variety of areas from Big Data to Clean tech and Fintech providing mentoring, fundraising, advice on development strategies, and pitch preparation. In 2017 the teams participated in 785 networking events. On the administrative end, a fast track system is in place to facilitate residence permits for entrepreneurs and their families and in addition they get relocation assistance and healthcare protection.
“The program really allowed us to further develop our business throughout Europe” said the Invest with Impact team – an early stage US Fintech & HR startup.
It’s the end of the 2017 program but a start of a new journey for all these international entrepreneurs.
Stay tuned for French Tech Ticket competition year 3 coming up soon!