France all set to launch a Tech Visa to attract more billion-dollar companies
France’s new President, Emmanuel Macron, sometimes also called as “France’s ambitious man”, announced the launch of a new tech visa that would make launching tech start-ups in France a lot easier for budding tech entrepreneurs.
This new change will open opportunity doors for a lot of foreign tech entrepreneurs to set their base in a country as promising as France. France has always been known for its rich history of art, science and philosophy. With such a move, it is more likely to move into the hot list of start-up companies in the world. Could this be a win-win situation for both founders & the country? As of now, there are only speculations made by news channels & on open discussion forums.
The announcement of the new French Tech Visa was made by the president himself & it took place at the Viva Technology conference in Paris on Thursday 15th June. During his keynote at the conference, president, Emmanuel Macron, said that he wants France to be the nation for innovation and start-ups. According to him the nation at this point of time is not very friendly for entrepreneurs, especially with a tech background and there is no great promise or opportunity which would make existing founders stay. He also believes that with this new visa launch the diversity will increase which will further strengthen the tech start-up ecosystem.
The French Tech Visa will be open for founders who create their company using one of France’s incubators, tech employees working in France, and investors who wish to open their own firm in the country or if they work for an existing VC firm in France.
This visa will have a validity of four years and beyond that it will be easily renewable by the visa holder. This visa will also include the visa holder’s close family members like spouses and children.
As per the recent statistics, in the last 5 years the start-ups have grown faster in France as compared to any other EU ecosystem. The VC investment is currently at $2.4 billion dollars & there are close to 10,000 start-up companies in France. A lot of news sites are talking about this leading up to speed up the process towards a French Talent Passport which will also be open to tech founders, tech employees, investors and their immediate families.
On one side, we have immigration getting tougher in US, which is home to the Silicon Valley that includes some of the biggest companies of the world that were start-ups not very long time ago. On the other hand, Canada is opening new job & immigration opportunities for foreigners, and this new step by France targeting tech founders looks like a very progressive move. Does this mean tech founders will have more opportunities around the world? Maybe.
For now, this is the only information that we have regarding the French Tech Visa, we will keep updating our website with new information. Meanwhile, if you have any comments about this news, please feel free to add at the end of this article.
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