Last year, the French government and the government-backed initiative The French Tech presented an index of French startups so that it was easier to identify them. The 40 best-performing startups get the Next40 label and the top 120 startups are grouped into the French Tech 120: it's a pun with the CAC40 and SBF 120 stock indices.
Here is a list of the 40 private companies in this year's Next40:
But creating a club without benefits would be a little pointless. That's why you get some benefits as a member of Next40 and French Tech 120. These companies automatically log into an accelerated administrative system - each startup receives a representative for their particular needs.
If you are facing administrative problems, such as obtaining foreign employee visas, obtaining a certification or patent, or selling your product to a government, you can more easily find the right person who can solve your problem.
"The coolest thing is that they can ask us anything: 'I'm going to do bizdev in China', 'I'm launching a rocket and I have to test it on a space facility' or 'I'm hiring 50 people and I need them and all of them. their families here '", French Tech Director Kat Borlongan told me last year.
Now the government is working to update the index. And to do that, you'll have to apply and meet the same criteria as last year.
After proving to be an independent French startup, there are two different ways to be accepted in Next40:
- If you've raised more than $ 100 million in the past three years or if your company has a valuation of $ 1 billion or more, you're automatically part of Next40.
- If you have closed "one of the largest funding rounds of the past three years" and generate more than € 5 million in revenue with a year-over-year growth rate of 30% or more over the past three years.
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 in a funding round over the past three years.
- 40 of these will be selected on the basis of annual turnover and growth rate.
Some companies in the Next40 will remain in the index, others will leave the index. And the government is fine with that.
"In the next few years some companies will close, others will be acquired by French and foreign companies. It's normal and healthy, "French Digital Minister Cédric O said at a press conference.
There are two new things that are worth pointing out. First, the government has signed a partnership with Euronext to educate entrepreneurs to go public. There are few public French tech companies and the government hopes it can reverse this trend.
Second, in January 2021, the government will also select 20 greentech startups so that they can access the same accelerated programs. It will be a separate list.
