Foreign investments in France are growing again.
Microsoft wants to invest EUR 70 million in French start-ups, and EUR 13 million to the national school digital plan.
Satya Nadella, Microsoft’s CEO, announced those commitments after a meeting with the French President François Hollande.
This is not Microsoft’s first attempt ; the company has already supported over 2,000 start-ups for 10 years. This new programme is called « Microsoft pour les start-up de la French Tech ». The general purpose will be to work closely with the BPI and French venture funds to facilitates access to financing. About 300 start-ups will benefit this year at accelerators such as BizSpark France, Numa in Paris, EuraTechnologies in Lille, Axeleo in Lyon or Technowest in Bordeaux.
Those business accelerators are companies that helps new and start-up companies to develop by providing services such as management training or office space for example.
Technowest, created in 1989, is based in Bordeaux, in the southwest of France. The company helps many start-ups in different activity areas as renewable energies, aeronotic industry, and mainly drone technologies and defence industry.
Axeleo is an accelerator exclusively dadicated to B2B start-ups. The company deliver a 18 month acceleration program to foster substainable growth and revenue-generating business. Since april 15, Axeleo remains the first acceleration program backed by the French Tech Acceleration Venture Fund.
EuraTechnologies promotes the social and economic development by technologies and innovations, and works to help to grow an international business park.
Regarding the EUR 13 million investment to the national school digital plan, further details of Microsoft’s partnership with the french ministry of education will be announced at the agreement’s official signing on 26 November.
According to Cisco’s former CEO John Chambers who already announced the decision to invest US$ 200 million in FrenchTech, France is the new Silicon Valley.
Delcade advised numbers of foreign companies setting up business in France including in the Technowest incubator, close to Delcade Bordeaux office.