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Paris, the Most Innovative Capital in the EU in 2017

Written by: Bridgewest

Paris-named-the-most-innovative-capital-in-the-EUFrance has recently completed another step towards becoming one of the most innovative economies in the world, as its capital, Paris was awarded the 2017 European Capital of Innovation. 31 European cities competed for the prize which also meant 1,000,000 euros which will be further invested in other innovative projects. Foreign investors who want to start a business in industries which imply innovation can rely on our law firm in France.

The iCapital award won by Paris is part of the EU’s Horizon 2020 program

During the last few years, France has invested a lot in programs and incentives which have stimulated the development of startups creating innovative products and services. 2017 was the year in which Paris, France’s capital, was acknowledged for all its efforts in driving innovation which is why it came before 31 other EU cities competing for the iCapital award.

The European Commission presented Paris as the most innovative city in the EU and offered the local authorities with a prize worth 1,000,000 euros which is part of the Horizon 2020, EU’s program destined to the creation of innovation.

Other cities being rewarded for their efforts were Estonia’s capital, Tallinn, and Tel Aviv in Israel.

Our lawyers in France can help foreign investors who want to open companies in Paris.

What was the project that brought the award in France?

The project which landed the iCapital recognition to Paris was launched in 2015 and is called ‘Reinventing Paris’. Several companies, mostly startups, have submitted urban development projects which have given a new face to various places around the city. The second phase of the project was launched this year and includes the renovation of other several underground sites.

France is not only known for investing in innovation related to the modernization of urban sites, as companies here are known for their innovative projects in the pharmaceutical and automotive industries. Innovation has made its ways in the most important economic fields in France, which is why the country is now one of the most advanced in the world from this point of view.

If you are interested in starting a business here and need help, do not hesitate to contact our French lawyers.



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