French Ambassador launches La French Tech Dublin Phase 2
4 July 2019 | 0
In the residence of the Ambassador of France to Ireland, Phase 2 of La French Tech Dublin was launched by the ambassador, Stephane Crouzat.
Founded in January of 2015, La French Tech now has more than 500 members, made up of entrepreneurs, mentors, investors, incubators, accelerators, experts, large groups, media, and officials.
“The French Tech idea has developed into something quite structured, and we now have 48 French Tech communities in countries around the world, including Dublin,” said the ambassador.
The group in Dublin is led by David Jullo, area lead EMEA, Microsoft.
“The goal of the initiative is to create a community to connect French and Irish start-up ecosystems to build partnership, exchange information, and create business,” said Jullo.
The La French Tech initiative was created by French President Emanuel Macron while Minister for the Economy. It is name by which the French start-up ecosystem is known, as well as this government-backed movement to bolster “France as one of the best countries in the world to start and scale global tech champions”.
Jullo said that French tech start-ups raised $1.2 billion Q1 2019, with 178 deals, secondly only to the UK in Europe, and ahead of Germany.
The average ticket was $6.5 million, with 16 of the 178 deals for artificial intelligence technologies.
The group’s focus, said Jullo, is on scale-up for start-ups and developing so-called unicorns. There are currently 4 unicorns in France, that is privately held start-ups with a valuation of more than $1 billion, but Jullo said that the ambition is to have 20 by the year 2025.
For 2019, he said activities would be based around four key pillars, developing and extending a talent reservoir, accelerated investment for deep tech and growth, government transformation, and increasing market access.
La French Tech Dublin has more than 500 members, including 90 start-ups and 40 investors. It builds partnerships and acts as a bridge between government, business and the start-ups to exchange information and create business.
One initiative for the group this year will be a start-up challenge in area of ‘Tech for Good’.
To find out more go to frenchtechdublin.com