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France to Become a High-tech Leading Economy in Europe

Written by: Bridgewest

The State of European Tech is an annual report put together by an international venture capital fund with the purpose of assessing European countries’ interest in venture capital. 2017 was marked by the creation of a large number of startups in which France reached one of the best scores since the report has been created. Our lawyers in France can help foreign enterprisers who want to start small businesses in this country.

France outranked the UK in 2017

The first State of European Tech report was first issued in 2015 and ever since it kept track of the notable venture capital deals in Europe. In 2017, France was one of the countries ranking best in the report, surpassing the UK, one of the the most important contenders.

France registered 753 venture capital transactions in 2017, most of them related to startup companies. More precisely, France registered a 2 billion USD investment in startups, 50 million USD more than in the previous year. The total amount was injected in 7 companies in the high-tech field. These startups make the European high-tech sector one of the serious competitors of Silicon Valley.

If you want to set up an IT company, our French lawyers can help you with the registration process of the business. It is also useful to know that this procedure has been simplified last year.

Fintech companies have played in important role in the local economy

One of the reasons for which France was commended in this report is the rising number of fintech companies which received global recognition for the innovative services they created. Among these, a lending platform, a health insurance company, a mobile payment services company and a payroll management business were the most appreciated.

The report also put an emphasis on how dynamic enterprisers in France are becoming and that their results will have a positive impact at European level. Moreover, France together with the UK and Germany will most likely make Europe one of the most competitive markets for fintech activities.

If you are interested in starting a business in an innovative sector such as fintech, please contact our law firm in France. Our attorneys can also explain the legislation related to starting a financial company in this country.

 

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