For Cédric O, start-ups are France’s “life insurance”

The Secretary of State for Digital Cédric O was invited on Tuesday February 1 to the premises of Back Market, the most valued French start-up for the resale of refurbished products (5.1 billion euros), to unveil the names companies appearing in the third promotion of the Next 40 and the French Tech 120, which brings together the most successful start-ups in France. The opportunity for him to rejoice in the successes of these companies with high technological value, but also, in hollow, to draw up, less than seventy days from the presidential election, the balance sheet of government action to support this sector.

The lowest fundraising in the Next 40 fell from €22 million in 2021 to €49.6 million in 2022

The march to join the Next 40 has never been higher: the lowest fundraising in the Next 40 has increased from 22 million euros in 2021 to 49.6 million euros in 2022. And more than the majority of the members of this list now have unicorn status, i.e. start-ups valued at more than a billion dollars. This does not prevent very young companies such as Sorare (NFT), a “fantasy football” platform, from joining this closed circle: eight companies that did not appear in the rankings last year have joined the circle. Among those who came out, two did so in the best possible way: by going public (OVH, Believe).

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Another positive indicator, the companies of the French Tech 120 plan to recruit 19,000 employees in 2022, almost twice as many as the winners of the previous edition. With in particular more and more industrial jobs at stake and more promising companies in the region, in a wide variety of sectors: Aledia (LED displays) in Grenoble, Ledger (cryptocurrencies) in Grenoble, Exotec (robotics) in Roubaix, Back Market (reconditioning of electronic devices) in Bordeaux…

“Strong support”

These good performances are not really surprising, as the year 2021 has seen the tricolor ecosystem accelerate. In one year, the volume of fundraising has more than doubled, rising from 5 billion euros to more than 11 billion.

Praising the commitment of entrepreneurs and their teams who have enabled these good results, Cédric O also launched a very political message: “What we are experiencing brings tremendous hope. But this does not fall completely from the sky, it is also the result of a systematic policy which has been carried out by the government since 2017. Without it, French Tech would not be there”, underlined the Secretary of State. And to list the measures taken: reform of the ISF, of the labor market, “flat tax”, support during the health crisis, etc.

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