The government launches a fund of 400 million euros to support French Tech

by bold-lichterman

Government announcements in favor of startups continue to follow one another. This time, it is the Prime Minister, Édouard Philippe, who took advantage of his trip to Metz on Thursday to announce the creation of a new fund endowed with 400 million euros to support French Tech.

This fund follows on from the announcements made by Mounir Mahjoubi in May when he presented the 100 measures to simplify the life of startups. The Secretary of State for Digital Affairs then also declared his wish that France “establishes itself as the benchmark ecosystem in Europe“And”is anchored in the world top 3“.

Startups selected by labeled business providers

This fund, called the “French Tech Seed”, will be used to support fundraising by technological startups from laboratories, incubators or technology transfer acceleration companies (SATT). It will be managed by BpiFrance.

The startups that will be able to benefit from this fund will be selected by certified business providers. “These business providers, guarantors of the technological validity of the project, will allow almost automatic public investment, in the form of convertible bonds, in addition to the capital provided by private investors.», Explains the secretary of state in charge of digital in a press release. The latter will also be responsible for supporting these startups in the search for private investors.

The government wants to make the French Tech seed a tool capable of financing large-scale pre-seed. It may also intervene directly in equity for larger fundraising.