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France refines its plan to support startups

A few days ago, the French government detailed different measures as part of its support plan for startups. France already announced a $4.3 billion( EUR4 billion) mean back in March. The brand-new bulletins are more about refining and lending some additional measures.

The French government wanted to act quickly when it acquired its initial advertisement in March. In addition to the widely-used short-time working scheme to avoid layoffs, here’s what they announced today March 😛 TAGEND

Startups that were in the process of elevating a new funding round could elevate a connect round from public speculation bank Bpifrance through the Programme d’Investissements d’Avenir. Bpifrance positioned $89.4 million( EUR8 0 million) on the table, private investors announced that they’d co-invest as much as $ 89.4 million( EUR8 0 million) as well. Startups can get a government-backed lend that are specifically tailored to the weird business model of startups: even though they are you don’t generate revenue, you can get some liquidity assistance as long as you parallel the criteria. Startups can acquire as much as two years of payroll for employees based in France or 25% of annual revenue — whichever is higher. This represents $2.2 billion( EUR2 billion ). Startups are able to obtain tax returns more quickly, and VAT returns in particular. This is a liquidity injection of $1.6 billion( EUR1. 5 billion ).

That was already on the table. And here’s what’s new 😛 TAGEND

Bpifrance is launching a new investment fund for key engineering business. The notion here is to support French startups so that they don’t get acquired by big-hearted foreign companies too quickly or they don’t fall behind when it comes to international competition. Bpifrance will invest $167.6 million( EUR1 50 million) as part of this fund. It could be extended in 2021 to reach $ 558.77 million( EUR5 00 million) The connection round program from the French public bank has been double-dealing with another $89.4 million( EUR8 0 million ). Startups that don’t fit the bill and can’t get a government-backed loan can now get a loan from Bpifrance directly. Bpifrance will give $111.8 million( EUR1 00 million ). Capital-intensive tech startups working on tech breakthroughs will be able to raise money more easily from Bpifrance as the government has injected $173.2 million( EUR1 55 million) in many vertical-specific stores( Programme de soutien a l’innovation majeure, i-Nov, AI challenge …). Deep tech startups and deep tech accelerators will receive as much as $ 223.5 million( EUR2 00 million) through a technology transfer fund and a second French Tech Acceleration fund.

As you can see, the buoy program involves a lot of complicated investment funds, mostly managed by Bpifrance. It’s clear that the investment bank wants to help as many startups as possible, from deep tech to marts facing some liquidity issues.

The brand-new investment fund focused on helping startups that could get acquired by foreign companies is an interesting move. Some will praise its own initiative, saying startups need to stay hungry to stay ahead of international competition. Others will say that Chinese and American corporations too sign advantageous agreements with their respective governments.

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