The Epicenter of Europe’s Innovation

Since Brexit, Paris has emerged as best positioned to attract talents and capital from Europe. Paris has become the EU’s No.1 financial trading hub. Goldman Sachs Group Inc. has more than tripled its local headcount since the Brexit vote. Bank of America Corp. has gone from 83 staff in 2017 to about 500 now.

But that is only half the story. Paris has all the right assets in place to attract, develop and grow startup and scale-up businesses, whether originating from or landing in the country. The government, investors and the general ecosystem all align to offer these businesses the optimal conditions for their international success.

Resources & Economic Conditions

Currently, France has the 6th overall world economy. Their geographic position allows for quick access to the rest of Europe, the Middle East, Africa and Asia. French is the 5th most spoken language in the world, with 274 million speakers. It is also the 3rd largest language for business and the 4th on the Internet.

France is fertile ground for startups in general

About 50% of the French population between the ages of 25-34 has graduated with a higher education. In 2015, 33,500 new engineers graduated, and as of 2017, there are 1 million Engineers in France. France ranks 6th in the world when it comes to financing R&D and is in 1st position for offering tax advantage on these investments.

On-going tax and social improvements

Beginning in 2017 and through 2022, the corporate tax rate will decrease gradually from 33% to 25%. While that is still a high rate, it is the price for quality and potential. For the start-ups with the Young Innovate Companies certification label, a total exemption from income tax for 1 year is possible. For 7 years, a partial exemption from social charges of people who are devoted to R&D is also offered.

Available help for innovators

In France, there is help available especially for innovators and entrepreneurs. According to the Ministry of Research, the following types of assistance are available:

• Help for the Creation of Innovative Enterprises: i-Lab competition,Assistance for the Maturation of Innovative Projects

• From the Government: the Innovation Tax Credit

• From the BPI: (Banque Publique d’Investissement): Participatory

• Seeding Loans, Aid for the Development of Innovation

• From Initiative France & Réseau Entreprendre: Honorary Loan