Paul-Francois Fournier - Bpifrance - State of French Startup & VC Ecosystem - Stanford Engineering -...
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A New French Revolution European Entrepreneurship & Innovation Stanford Engineering - Monday 8, January 2018 Paul-François Fournier Chief Innovation Officer bpifrance.fr
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Transcript of Paul-Francois Fournier - Bpifrance - State of French Startup & VC Ecosystem - Stanford Engineering -...
A New French Revolution
European Entrepreneurship & InnovationStanford Engineering - Monday 8, January 2018
Paul-François FournierChief Innovation Officer
bpifrance.fr
3 missions
Support Innovative Companies
Foster Entrepreneurship
Provide Eximbank Tools
A new concept of a Bank for Entrepreneurs
Bank Loan Guarantees and Credit Insurance
Loans Innovation Financing VC Small Cap
Eq. InvtMid-Large Cap
Eq. Invt Fund of Funds
€8Bp/y guarantees€16B
p/y export credit insurance
Excluding funds dedicated to unsecured loans
€15Bper year
€1,3Bper year
(soft loans / subsidies)
€1,5B AUM
€1,4B AUM
€14BAUM
€4B in 330 Funds
€1Bcommitted in 2017
60,000 companies
per year
20,000 companies
per year
4,000 startups
2,000 SMBs
per year
7 Funds
50 invtsper year
4 Funds
100 invtsper year
Orange, Gemalto, STmicro, Ingenico,
Soitec, Criteo, Talend…
includingAtomico,
Balderton, Versant Ventures, New Leaf, Advent
The « French Silicon Valley Bank »
Rising VC Industry
Large Talent Pool
New Culture
A New Tech Revolution
A Large Talent Pool
Easy Access
Competitive Workforce
Scientific Excellence
1,000,000 engineers = Germany
$60,000 / year+ 30% Tax Credit IoT / Telcos
80,000+ devs / year Low Turnover AI / Analytics
70,000+PhD / year47% foreigners 60 hours / week Biotech
Secret sauce: the talent pool
A New Culture
A massive cultural shift
50%of 18-24 year old French people want to create
their own company
Poll IdInvest / ViaVoice, April 2015
Early leaders
Role Models
New Kids on the Block
Frédéric Mazella
Antoine Martin
Nicolas Dessaigne
Jonathan BenhamouJérôme
LecatOlivier Pomel
Daniel Marhely
BertrandDiard
PierreChappaz
Xavier Niel
Jean-Baptiste RudelleJean-David Blanc
Pierre K-Morizet
Marc SimonciniLoic Le Meur
Jacques-Antoine Granjon
A talented community in the US
Yann LecunHead of AI
Alex DayonPres. Product
Gilbert PassinVP Manufacturing
J-P CourtoisExec. VP
Marc Onettoex SVP Operations
Fidji SimoVP Product
Frederic LalluyauxFormer CEO
JB RudelleFounder
Alex LebrunFounder
David GurleFounder
Eric SettonFounder
Jérôme LecatFounder
Mathilde CollinFounder
Nicolas DessaigneFounder
Number of deals by regions(S1 2017)
341
36
52
33
23
5
17
23
9
3
16
15
1
Source
Some French Unicorns
• Car sharing• $335M raised• 600 employees• 50M members in 22 countries
• Cloud hosting solutions• $650M raised• 2,000 employees• 260,000 servers in 19 countries
Time to think BIG
Station FThe Largest Tech Campus in The World
1,000startups
A Rising VC Industry
177 14287
253 297
74 114 126 121 167 204
1004
269342
477
203294 302
870
679586
1452
5863341
24
40
3036
3137
5247
3543
6569 66
49
81
133
150144
188
169 166
0100200300400500600700800900100011001200130014001500
0102030405060708090
100110120130140150160170180190200
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Inve
stm
ents
($M
)
Num
ber o
f dea
ls
Investments Deals2012 2013 2014 2015 2016 2017
VC x3 in 3 years
Source
Creation
1.3 1.3
3.2
3.8
3.2
0.
1.
2.
3.
4.
2012 2014 2016
0.5 0.60.8
1.5
2.7
0.
1.
2.
3.
4.
2012 2014 2016
0.5 0.5
1.2
1.8
2.7
0.
1.
2.
3.
4.
2012 2014 2016
0.6 0.6
2.
2.9
2.
0.
1.
2.
3.
4.
2012 2014 2016
UK France GermanyIsrael
France is now #2 in EuropeVolume in $B (2012 - 2016)
Source
4,110
France is now #2 in Europe
410
542
644
545520
100
238
375
513
650
2012 2014 2016
118
167 180
243
590
100
238
375
513
650
2012 2014 201688
132166
241 231
100
238
375
513
650
2012 2014 2016
165
245288
353380
100
238
375
513
650
2012 2014 2016
Number of deals (2012 - 2016)
Source
UK France GermanyIsrael
80
160
0
40
80
120
160
200
2012 2016
Average size of French VC funds (€M)
x2
Today’s challenge: growth stageLargest rounds in the last 12 months ($M)
OVH 250 KKR, Towerbrook Capital Partners
Sigfox 150 Salesforce Ventures, Bpifrance, Total, Alto Invest, Intel Capital, Elliott
Deezer 110 Access Industries, Orange
Devialet 105 Bpifrance, Korelya Capital, Foxconn, Renault, SharpCM CIC
Actility 75 IdInvest, Bpifrance, Creadev, Foxconn, Ginko
Oodrive 71 Tikehau Capital, MI3, NextStage
Vestiaire Collective 62 IdInvest, Eurazeo, Vitruvian
Blade 51 Business Angels
Algolia 53 Accel, SaasTr Fund, Alven, Point Nine Capital, Storm Ventures
GuestToGuest 35 Alyan, MAIF
$308M Altice
$275M Wolters Kluver
$213M Snap
$191M Nokia
$189M Trainline
$122M IPO
$106M iHealth
$57M enea
Top exits last 12 months
They believe in French entrepreneurs
