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French startups can apply to the Next40 and French Tech 120 – TechCrunch

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Last year, the French authorities and the government-backed initiative La French Tech unveiled an index of French startups in order that it could be simpler to determine them. The 40 top-performing startups get the label Next40, and the highest 120 startups are grouped into the French Tech 120 — it’s a play on phrases with the CAC40 and SBF 120 inventory indexes.

Right here’s an inventory of the 40 personal corporations on this 12 months’s Next40:

Picture Credit: La French Tech

However making a membership with out perks could be a bit ineffective. That’s why you get some perks as a member of the Next40 and French Tech 120. These corporations mechanically entry a fast-track administrative system — each startup will get a consultant for his or her explicit wants.

When you’re going through administrative points, reminiscent of getting visas for international workers, getting a certification or a patent or promoting your product to a public administration, you’ll be able to extra simply discover the proper particular person that may resolve your concern.

“The good factor is that they’ll ask us for something: ‘I’m about to do bizdev in China,’ ‘I’m launching a rocket and I would like to check it on an area facility’ or ‘I’m hiring 50 individuals and I would like them and all their households right here,’ ” La French Tech director Kat Borlongan told me last year.

Now, the federal government is engaged on refreshing the index. And to be able to try this, you’ll need to apply and match the very same standards as final 12 months.

After getting confirmed that you simply’re an impartial French startup, there are two alternative ways to get accepted within the Next40:

  • When you’ve got raised greater than €100 million over the previous three years or if your organization has a valuation of $1 billion or extra, you’re mechanically a part of the Next40.
  • When you’ve closed “one of the necessary funding rounds of the previous three years” and also you generate greater than €5 million in income with a year-over-year progress charge of 30% or extra for the previous three years.

As for the remaining 80 startups within the French Tech 120:

  • 40 of them will likely be chosen if they’ve raised greater than €20 million in a funding spherical over the previous three years.
  • 40 of them will likely be chosen based mostly on the annual turnover and the expansion charge.

Some corporations within the Next40 will stay within the index, others will depart the index. And the federal government is okay with that.

“Within the coming years, some corporations will shut down, others will get acquired by French and international corporations. It’s regular and wholesome,” France’s digital minister Cédric O stated in a press briefing.

There are two new issues which are price highlighting. First, the federal government has signed a partnership with Euronext to teach entrepreneurs about going public. There are few public French tech corporations, and the federal government hopes it may reverse this pattern.

Second, in January 2021, the federal government can even choose 20 greentech startups to allow them to entry the identical fast-track applications. It’ll be a separate record.