The digital secretary, Cédric o, proposes to create about fifteen European funds with at least 1 billion euros to finance young shoots. Advertisements that fall within the framework of the French Presidency of the European Union.
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A little less than a year after the launch by the Government of Scale-up Europe, a device aimed at the emergence by 2030 of a dozen European technological giants valued at more than 100 billion of dollars (87.6 billion euros), new objectives were presented, Tuesday, February 8, by the Secretary of State on Digital, Cédric o.
The start-up problem is to find European funding to continue their development, in order to avoid yielding to the sirens of the American, Asian funds, or to be redeemed. One of the tracks would allow the outbreak of about fifteen European funds with at least 1 billion euros. There are only two currently, including French Eurazeo, against fortyly in the United States.
To achieve this, France, Germany, Denmark and Greece have already committed to abound € 3.5 billion from funds that will finance other funds. “This is a considerable leverage,” says Cédric o, pointing out that the country will contribute up to 1.5 billion euros. Other states, about fifteen, are interested in this initiative. In total, between 10 billion and 20 billion euros could be mobilized by the public and private sectors.
Facilitate the coming of extra-European talents
These funds will have no obligation than to direct their investments to European companies, which are already in the process of acquiring a global position or they are younger. No sector is targeted, even though the “Deep Tech” (companies from basic research) currently have the favors of France – with regard to the France 2030 – and Europe plan to acquire dominant positions. The European Innovation Council (EIC), with 10 billion euros, has disclosed, on the same day, a program of support devoted to the hundred most promising companies in these areas.
Other axis of development: facilitate the coming of extra-European talents to support the development of the European tech scene. In particular, stakeholders undertake to develop a one-stop shop facilitating the administrative formalities to the pretenders in a job in the young contingent shoots.
“A collective dynamic”
These ads are part of the French Presidency of the European Union (PFEU). The first step was to collect entrepreneurs’ recommendations in recent months, in order to place these topics on the PFUE agenda.
Why bring this subject at European level, while the French start-up ecosystem support policy allowed, in 2021, to see fundraising of young French shoots more than doubling, up to 11 Billions of Euro’s ? Cédric o agrees that this is a “variable geometry” plan while considering that this has enclosed “a historical turning point in the start-up policy at European level, a collective dynamic that is emerging” . “If we want to go to the top step, it’s at the European level that it is played”, he supports.