09 INTERNATIONAL TECH HUB | BDO LLP
FRANCE
THE TECH BUSINESS ECOSYSTEM There’s a healthy level of competition in France between various chambers of commerce, cities, departments and regions – which is both an advantage and a disadvantage. With each looking for recognition as the “hub” of a particular kind of tech, opportunities are particularly concentrated. For example, biotech or medtech is largely focused in the east of France, close to Belgium and Germany. Paris is naturally another hotspot – if businesses are looking to connect with scientists, entrepreneurs or incubators, the capital offers unrivalled access. In the west, gaming companies abound, while Lille in the north is also attractive for tech businesses due to its proximity to London and other European hotspots. There’s some fairly recognisable companies coming out of these areas, including life sciences firm Doctolib, an online platform for medical appointments; Kyriba, a French/US company specialising in cash management. There’s also Ledger, a cryptocurrency storage company, and cloud gaming firm Shadow. THE TALENT POOL Reflecting the wider global challenge, it’s also tough for medium-to-large tech companies in France to hire the right people. Competition is fierce, particularly for younger graduates with coding qualifications and more senior candidates with engineering backgrounds. However, tech companies are well-positioned to deal with this competition. Their business models are different to traditional companies, and they appeal to the younger generation who want freedom, autonomy and a challenge in their workplace. The main benefit of moving or expanding a business into France is its large talent pool for engineers. And crucially, companies won’t need to pay the exorbitant prices of Silicon Valley to land top talent.
With expert input from Eric Picarle, Partner, BDO France. Eric has over 15 years’ auditing and accounting experience for a range of businesses, with strong expertise in the life sciences sector.
OVERVIEW: A STABLE REGION WITH APPEAL FOR THE TENACIOUS France offers stability for international businesses looking for solid capital opportunities. With strong governmental support for research and development, tech businesses can thrive if they have the tenacity to navigate each French region’s geographical idiosyncrasies. THE TECH LANDSCAPE In 2018, 58 countries invested in France – with the United States, Germany, UK, Netherlands and Italy the highest contributors. Following a significant increase in investor interest, France is now considered the second European marketplace for foreign investment after Germany. With its well-oiled market, stable economy and impressive infrastructure and talent pool, France offers appealing opportunities for businesses and investors alike.
FRANCE OFFERS APPEALING OPPORTUNITIES FOR BUSINESSES AND INVESTORS ALIKE
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