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France to Invest €500M in Deeptech Startups by 2030

France is struggling to turn scientific discoveries into innovations, and the number of startups arising from research projects remains below expectations. In response, the French government has announced it will invest another €500 million in order to create 500 deeptech startups per year and 100 unicorns in France by 2030.

www.eetimes.eu, Jan. 17, 2023 – 

This move is an integral part of "France 2030," an investment plan launched in October 2021 to revive France's industrial economy and to create future technological champions in strategic sectors such as semiconductors, robotics, electric vehicles, nuclear, and renewable energy sources. "France 2030", announced around €30 billion in October 2021 now officially amounts to €54 billion.

In early 2019, the French government launched the Deeptech Plan to develop breakthrough innovations in France. The number of deeptech startups created each year increased by more than 50% between 2019 and 2021, from 165 to 250, according to public investment bank Bpifrance. There are now 2,500 deeptech startups in France (i.e. 8% of French startups). They raised 28% of the total amount raised by French startups and created 47,000 new jobs in France in the year 2022 alone.

In recent years, the French government has reinforced its efforts to ensure that scientific and technological discoveries contribute to society and the economy. However, the potential for innovation is still not fully realized. As per a government report, one company emerges from laboratories every €58 million of academic expenditure in the U.S., every €74 million in the U.K. and every €91 million in France.

The French government now plans to increase the number of startup creations from 250 to 500 per year. This doubling will be achieved through three key actions:

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