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French startups can apply to the Next40 and French Tech 120 – TechCrunch

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Last year, the French authorities and the government-backed initiative La French Tech unveiled an index of French startups in order that it could be simpler to establish them. The 40 top-performing startups get the label Subsequent40, and the highest 120 startups are grouped into the French Tech 120 — it’s a play on phrases with the CAC40 and SBF 120 inventory indexes.

Right here’s a listing of the 40 non-public corporations on this yr’s Subsequent40:

Picture Credit: La French Tech

However making a membership with out perks can be a bit ineffective. That’s why you get some perks as a member of the Subsequent40 and French Tech 120. These corporations routinely entry a fast-track administrative system — each startup will get a consultant for his or her specific wants.

In the event you’re going through administrative points, equivalent to getting visas for overseas workers, getting a certification or a patent, or promoting your product to a public administration, you possibly can extra simply discover the appropriate individual that may remedy your difficulty.

“The best factor is that they will ask us for something: ‘I’m about to do bizdev in China,’ ‘I’m launching a rocket and I want to check it on an area facility’ or ‘I’m hiring 50 individuals and I want them and all their households right here,’ ” La French Tech director Kat Borlongan told me last year.

Now, the federal government is engaged on refreshing the index. And as a way to try this, you’ll must apply and match the very same standards as final yr.

After you have confirmed that you just’re an unbiased French startup, there are two alternative ways to get accepted within the Subsequent40:

  • You probably have raised greater than €100 million over the previous three years or if your organization has a valuation of $1 billion or extra, you’re routinely a part of the Subsequent40.
  • In the event you’ve closed “probably the most vital funding rounds of the previous three years” and also you generate greater than €5 million in income with a year-over-year progress price of 30% or extra for the previous three years.

As for the remaining 80 startups within the French Tech 120:

  • 40 of them will probably be chosen if they’ve raised greater than €20 million in a funding spherical over the previous three years.
  • 40 of them will probably be chosen based mostly on the annual turnover and the expansion price.

Some corporations within the Subsequent40 will stay within the index, others will depart the index. And the federal government is okay with that.

“Within the coming years, some corporations will shut down, others will get acquired by French and overseas corporations. It’s regular and wholesome,” France’s digital minister Cédric O stated in a press briefing.

There are two new issues which can be price highlighting. First, the federal government has signed a partnership with Euronext to teach entrepreneurs about going public. There are few public French tech corporations, and the federal government hopes it might reverse this development.

Second, in January 2021, the federal government may also choose 20 greentech startups in order that they will entry the identical fast-track packages. It’s going to be a separate record.

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Author

Romain Dillet