The French government relies on a new 400 million euros’ funds to support French Tech

The current French government is intended to be strongly in favour of the startups, and proves it once again by creating a 400 million euros’ fund for French Tech’s startups.

On Thursday, June 21, the Prime Minister Edouard Philippe took advantages on its venue to Metz to announce the creation of “French Tech seed”, a new 400 million euros’ funds to support French Tech.

This is in line with the comments made by Mounir Mahjoubi, the Secretary of state for digital, which affirmed last May to express interest in France becoming the baseline start-up ecosystem in Europe. He was thus present as an example at the presentation of Qwant’s innovations the previous week.

Mahjoubi declares in press release that French Tech Seed is intended “to support fundraising of technological start-ups produced by laboratories, incubators or the companies of technology transfer’ acceleration”.

Managed by BpiFrance, French Tech seed will be based on business labeled contributors, which will have to support startups and to find private investors for them. Besides the private funds, public funds could also be brought to the project in the form of convertible bonds. Lastly, the bottom itself will also have the possibility of directly intervene in equity for major fundraising.

Credits: YouTube French Tech

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