Last year, the French government and the government-backed La French Tech initiative published an index of French startups to help identify them. The 40 top performing startups are given the Next40 label, and the 120 best startups are summarized in the French Tech 120 – it's a play on words with the CAC40 and SBF 120 stock indices.
Here is a list of the 40 private companies in this year's Next40:
But starting a club with no perks would be a little useless. Because of this, as a member of the Next40 and French Tech 120, you get some benefits. These companies automatically access a fast management system – each startup receives a representative for their specific requirements.
If you are facing administrative issues such as: B. Obtaining visas for overseas employees, obtaining certification or a patent, or selling your product to a public administration will make it easier for you to find the right person to solve your problem.
“The coolest thing is that you can ask us anything: 'I'm doing Bizdev in China right now,' ' I launch a rocket and need to test it on a space facility & # 39; or & # 39; I employ 50 people and I need them and all of their families here, ”said La French Tech Director Kat Borlongan told me about it last year.
Now the government is working to update the index. To do this, you have to apply and meet exactly the same criteria as last year.
Once you have proven that you are an independent French startup, there are two different ways to get accepted in Next40:
If you've raised more than $ 100 million in the last three years, or if your company is worth $ 1 billion or more, you're automatically part of the Next40.
If you have completed "one of the most important financing rounds of the last three years" and in the last three years you have generated sales of more than EUR 5 million with a growth rate of 30% or more compared to the previous year.
As for the remaining 80 startups in the French Tech 120:
40 of them will be selected if they have raised more than 20 million euros in a financing round in the past three years.
40 of them are selected based on annual sales and growth rate.
Some companies in the Next40 remain in the index, while others leave the index. And the government is okay with that.
“In the coming years, some companies will be closed and others taken over by French and foreign companies. It's normal and healthy, "said France's digital minister, Cédric O, in a press conference.
There are two new things that are worth highlighting. First, the government has signed a partnership with Euronext to educate entrepreneurs about the IPO. There are few public French tech companies out there, and the government hopes it can reverse this trend.
Second, in January 2021, the government will select 20 greentech startups so they can access the same fast-track programs. It will be a separate list.