City of opportunities

France is in a bid to give fierce competition to countries around the world by creating some strong startup ecosystems within it. Here is an informative guide about the strengths of the ecosystem for those relocating to Paris to realise their entrepreneurial dreams and aspirations. 

Paris, the capital of France, is evolving faster than ever to help the country achieve the status of a start-up nation and attracting many to move to the city.

A city synonymous with romance, Paris has a significant footfall of tourists each year, and the economy is supported primarily by the technology, agriculture, tourism, and energy industries.  Paris has a GDP of $688 billion which makes it one of the five largest economies in Europe.

What’s in store for start-up job seekers?

Paris’ is a start-up haven, one that is flourishing by the day. There are a number of factors aiding this. Paris has more than 4,000 startups that have a combined average valuation of $3.3 million and are constantly contributing for the upkeep of a sustainable start-up jobs market.

While the high utility prices and rents can be a deal breaker for many, the city is always a better option in terms of affordability as compared to other start-up ecosystems like San Francisco and New York.  Job seekers moving to Paris can seek accommodation in areas that are far from the city center which are affordable and well connected via the efficient Parisian transport system.

Health tech ventures 

Healthcare shares an integral part of the total national expenditure of France. The country spends more on healthcare than any other European countries at 11.6 per cent. The strong healthcare sector and the need for innovative technologies in it have driven the growth of the healthtech sub-sector. 

Government support 

France has transitioned to a business-friendly nation over the years with reforms in their wealth and tax policies which previously were hostile for businesses especially the small scale companies.

The French government has introduced a new visa programme — the French Tech Ticket, for tech brilliance to move into the country. The tech sector in Paris has grown immensely due to this programme. The visa programme has a validity of four years and is beneficial for three categories of tech talent who can get the Passeport Talent (Talent Passport) through a fast-tracked procedure. Entrepreneurs with this visa do not need a separate work permit and can be extended to immediate family members

The city is gaining international recognition owing to the growing investments and the increase in the number of entrepreneurs and start-up job seekers moving to Paris. 2017 was an incredible year for Paris as its start-up ecosystem performed better than ever in many aspects making the coming years also look promising.

Start-ups in Paris are being encouraged heavily by the government through a number of initiatives and policies making it a good time for entrepreneurs to move to Paris.

A booming tech sector

The tech sector in the city has shown a promising growth and is also getting recognised internationally. The tech ecosystem of the city has been featured multiple times in global rankings and is an important source of jobs in the city. Ed tech and  health tech start-ups especially are creating several new jobs.

Education tech start-ups 

The education tech sub-sector is a relatively young segment with a majority of the companies in it less than three years old.  Of the 320+ companies listed in the Frech Edtech Observatory, there are several startups that are revolutionising the education sector with groundbreaking technologies. 

— Inputs courtesy Yostartups, a global pre-accelerator for startups & entrepreneurs.