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Over 100 French startups, VCs and analysis institutes have come collectively to create a brand new organisation that may push the pursuits of the deeptech sector with the French authorities and EU legislators.
Dubbed “France Deeptech”, the group contains high-profile firms akin to quantum computing startups PASQAL and Alice & Bob, spacetech The Exploration Firm and cybersecurity platform TEHTRIS.
Quite a lot of French deeptech VCs and analysis labs have additionally joined alongside public financial institution Bpifrance. The organisation says it hopes to finally open membership to startups and VCs in different European international locations to strengthen its affect on the EU degree.
A brand new foyer group for deeptechs
Coordinating between totally different actors within the deeptech sector, France Deeptech will suggest new measures to European and French policymakers to assist deeptech startups.
It can work hand in hand with France Digitale, a well-established foyer group that represents European startups and VCs.
France Deeptech has outlined 4 key challenges going through the sector and has created working teams made up of entrepreneurs, VCs and teachers to provide you with measures that would resolve them.
The important thing challenges are:
Higher entry to funding for French deeptech startups, which the organisation estimates might want to increase €12bn between 2024 and 2026
Creating bridges between tutorial analysis and trade
Stress-free laws which can be placing brakes on startups creating foodtech akin to various proteins or cultivated meat
Rising startups’ position in public procurement
The teams will work collaboratively with the French authorities and have been tasked with arising with three coverage proposals for every theme within the subsequent six months.
France Deeptech may also organise meetups, notably between startups and huge industrial teams, and can perform data-driven evaluation to establish ache factors and priorities within the sector that require authorities assist.
Individuals pay a membership price and though the organisation declined to verify its complete finances, it says that it’s planning to recruit three workers members.
Supporting the deeptech sector
Whereas most European startups battle to safe funding, European deeptechs have fared notably properly this yr.
Based on information from VC Atomico, greater than $20bn can have been invested in deeptech firms in Europe by the top of the yr — barely greater than in 2022.
Importantly, the capital invested in deeptechs in 2023 represented 44% of the whole capital invested in European startups. That’s greater than double the share of capital invested in 2022, exhibiting that in contrast to different sectors, deeptechs proceed to draw VC curiosity at the same time as cash turns into scarcer.
Regardless of this, France Deeptech says that startups within the sector can discover it difficult to boost funding for numerous causes — together with excessive R&D prices, longer growth cycles, the necessity for big manufacturing capabilities and potential laws in delicate industries like defence.
“These specificities are a supply of complexity and require assist — monetary as a lot as strategic — from VCs and different specialised and skilled companions,” says Michel de Lempdes, managing accomplice at French VC Omnes Capital and president of France Deeptech.
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