Record-setting delegation of French companies caps milestone year for what is now Europe’s top tech investment market
LAS VEGAS–(BUSINESS WIRE)–January 3, 2017–
La French Tech is going “all in” in Las Vegas at CES 2017, with a record number of companies participating at the mega tech show. More than 260 French enterprises, ranging from established market leaders to newly minted unicorns and disruptive startups, will showcase their innovations. The contingent will reach into every corner of industry on display at CES and feature an especially dominating presence at CES’ startup haven, Eureka Park, where the number of French-based firms is the largest of any international delegation.
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(Graphic: Business Wire)
Leading the delegation will be France’s Minister of Economy, Michel Sapin, and Secretary of State for Digital and Innovation, Axelle Lemaire. Lemaire will host French and English press conferences on Friday, January 6 (8 a.m.: French press; 10:30 a.m.: English-speaking press; French Tech Showroom, Room 34-307, The Venetian Hotel) to discuss how France has taken bold steps to quickly emerge as a global tech powerhouse and to look ahead to macro challenges in the Trump/Brexit era.
La French Tech is recognized as one of the world’s fastest growing tech ecosystems, fueled by world-class talent and education, record-setting investments, an innovative infrastructure of support for startups and entrepreneur-friendly policies. The past year has been significant for French tech innovation. The country now ranks first in Europe for number of investment deals, up 71 percent from 2015, and achieved a record deal flow of $1.5 billion in just the first three quarters of the year. French companies make up nearly 20 percent of the 2016 Deloitte Technology Fast 500 (EMEA), and France has been the fastest growing country on the list over the past six years.
The money is following industry-changing innovation across a number of sectors and technology areas, such as the Internet of Things, artificial intelligence, big data, autonomous mobility, cyber security, mobile communications and fintech. French companies earned a record 26 CES Innovation Awards in 2017, a tribute to the engineering and entrepreneurial talent that exists across the country.
“At last year’s CES, La French Tech was the big surprise. This year, we’ve taken the lead. The momentum behind our growth in this sector is unprecedented, and we have truly established France as one of the tech giants of the world,” said Axelle Lemaire. “We are proud of the creativity, ambition and work ethic that is woven deep into our technology business fabric. And the tech investment world has certainly taken note, as seen by the surge in deals this past year.”
2016 was indeed a banner year for investment in La French Tech with 368 deals completed in the first nine months of the year. While 62 percent of these deals were with startups, there were also some landmark investments in later-stage companies such as OVH ($250M), Sigfox ($150M), Devialet ($100M) and Deezer ($100M). In addition, the year saw four exits by French companies of more than $100M each.
Bienvenue au Eureka Park
CES visitors can expect to hear a lot of French being spoken in Las Vegas this year, especially at Eureka Park, where 172 French startups will exhibit (an increase of 160 percent since 2015). La French Tech’s corner (Booths 50618 and 50620) will be the anchor spot for the contingent, with regular events and showcases of innovations, as well as helpful information on La French Tech’s ecosystem. Notable French startups exhibiting throughout Eureka Park will be CybelAngel, Xooloo, PK Paris and Plume Labs.
About La French Tech
La French Tech is a thriving community of diverse stakeholders from the French tech world (entrepreneurs, engineers, designers, investors, tech lovers, government agencies like Bpifrance and Business France) in all sectors (digital, biotech, medtech, fintech, etc.). Members of this community include champions such as BlaBlaCar, valued at €1.2 billion, and Sigfox and Devialet, which respectively raised €150 million and €100 million in 2016. Meanwhile, since 2013, €200 million of public funds have been invested in business incubators and accelerator programs throughout France to support our startup community even further.
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