Will The Real French Administration Please Stand Up ?

It’s pretty paradoxical what is happening in France’s startup scene at the moment. On one side of the spectrum, the entrepreneurs, investors and the entire ecosystem seems to be gaining momentum. Several new seed funds were created in the beginning of the year – filling a very obvious gap in the local market and visibly fueling the development of quite a few startups. Then came the various mentorship programs, like the Founder Institute. Followed by the sprouting of regular startup events, like StartinParis, or even Startup Weekend – which is conquering the whole country. The infamous Paris-based co-working hub, LaCantine, is also spreading its wings and setting-up outside of Paris, in addition to a new acceleration program they’ve launched as well. And to top it all off, we’ve now got some of the big-name entrepreneurs talking about potential YCombinator-like programs for local startups. Call me crazy but I truly believe something incredible is going on.

And then the government* showed up.

Let me preface this by saying that I am probably the last person to ever critize France (in case this isn’t already obvious). I’ve even been called France’s cheerleader and community manager at times -probably because questions like this make my blood boil. I’ve always been a fan of the stuff people usually find rather ridiculous – the former 35-hour work week, the strikes, the vacation, etc. Yes, it’s true. So even if I love complaining, I’m not just going to start bashing the French state for the hell of it. I actually think France has a hell of a lot going for it, which surprisingly many people often overlook because they love to grab on to stereotypes and focus on the negative aspects.

But Bercy is apparently out to lunch.

If you’re wondering what the hell I’m talking about, read this. Honestly, it’s something I cannot wrap my head around. If I’m here complaining about it, it’s not at all because I want to bash the government but rather because I want to defend the French entrepreneurs. Plus, wouldn’t the long term effects of such a reform do more harm than good ? I am aware that the deficit is a damn good reason to want to make budget cuts,  but someone needs to wake Bercy up and make it see all the good that the entrepreneurs do for the local economy. The tax breaks that France grants startups – namely the JEI – are probably less well-known abroad but thousands of French startups benefit from them. Startups have been able to put more ressources into hiring and innovation as a result. We’ve already got investors in France that are ever-so-slightly more risk averse than in the US. So in my mind, it should be one of the last things the State should ever want to touch.

Puting Joseph Schumpeter on hold.

Alright, so France wants to ignore Schumpeter for a while, fine. Funny enough, it has also had a positive impact in a way. I have noticed that a majority of the entrepreneurs are really coming together to speak out against it – which is perhaps giving rise to solidarity and bringing them even more together. Some startups and organizations are even offering services for free if it relates to defending the JEI. And this in its turn is also giving more media attention and visibility to certain entrepreneurs and startups. So, France, put Schumpeter on hold all you want, because in the end it’s still producing a positive output – as minimal as it may be…

Shut-up and innovate.

In the end, it may sound a lot like France is telling it’s blossoming entrepreneurial community to shut-up and innovate. And well, that is kind of the case. But France would have to be really disconnected from reality to continue its current path. Once it remembers why it put the JEI in place, I’m sure it’ll come to its senses.

*And as you all know, I’m using “government” to mean “administration“.

A Tale of 2+ Cities

It’s been exactly a year since I arrived in Paris to go back to school, 8 months since I started silly ol’ Techbaguette, 7 months since I started writing for TechCrunch Europe, 5 months since I relaunched TechCrunch France and 3 months since we launched Girls in Tech Paris. Man, oh man, time has sure gone by fast.

It was the best of times. It was (never) the worst of times.

(Yes, that’s modified Charles Dickens quote from a Tale of 2 cities.) Initially, I started TechBaguette just for fun – to shed a little light on the local tech scene in English for any passing readers and to remind myself that there was life after Sciences Po. And somehow, that little project magically transformed into turned into TechCrunch France and Girls in Tech Paris – translation: a nice little bridge between Silicon Valley and the +33. In my opinion, France has come a long way since I arrived – several seed funds, the Founder Institute, Startup Weekend, tons of company launches, some mega acquisitions…and I know that the best is yet to come. I should give credit where credit is due: I wouldn’t have a blog without content and my content is the vibrant French tech scene.

Next stop: London Town.

That’s right, it’s a tale of 2+ cities – or should I say countries ? The US, France and now I’m headed to the UK – because I still have to finish up my degree for the next few months (boo, yes, I thought about dropping out but I haven’t thought of an invention like the iPod or Facebook yet). I’m not about to abandon the French tech crowd. And to prove it, I’ll be back every month – next week, in fact, for several (not all) of the events on my events page. With TechCrunch, Girls in Tech, the Potrepreneurs meetup, Startup Weekend, LeWeb, Midem, etc., I bet that I’ll be back so often that nobody will really notice that I don’t live here. Neither will I, for that matter.

“I’ll be back.”

(Yes, that’s my governator.) Whatever you do, please don’t ask me what will happen to TechCrunch France – it will hopefully only get better. Let’s not forget I also have a fabulous team – Cédric and Clément. Plus, Ouriel managed to do a fantastic job with TechCrunch France while in Israel and I’m fairly certain that I am capable of doing the same. Try me. Plus, the way I’m looking at things – it’s only temporary. I’ll be back.

But still, I find it incredibly important to be available for the local community, even while I’m in London. I’ll be sure to post the dates under the “events” tab on my blog and distribute the info via Twitter for anyone who’d like to arrange to meet. And of course I’ll also be 100% available by all forms of electronic communication and for anyone who passes through London ! Hello TechHub !!

“INSULARITY IS THE EUROPEAN STARTUP KILLER.”

This is a quote that an American VC friend of mine in London (did that give it away?) recently said. It’s brilliant and oh-so-true. My experience in San Francisco inspired projects for France and London will inevitably do the same. Even though my heart may belong to the French market, the next few months will be dedicated to expanding my knowledge beyond the Hexagon and getting a better idea of what is being created out there. And maybe I’ll go to class once in a while too. 🙂

No, tech woman, no cry.

I usually try to keep most of the info on my blog free of personal jargon. But it’s perhaps the right time to say thank you to each and every entrepreneur who has been supportive of the TechCrunch relaunch and Girls in Tech. It’s only reinforced my affinity for the local tech kids and my belief that there is a lot of talent and innovation that deserves to be seen and discovered. I’ve learned an incredible amount from every last person that I’ve met. Know that it’s a pleasure being your sounding board and English-speaking voice. Vous m’inspirez, tous.

(Start chapter 2 here.)

Le Seed: FCombinator and the TechEtoiles

Last week, Zlio’s Jérémie Berrebi and Iliad’s Xavier Niel announced the launch of their new seed fund, Kima Ventures, which I wrote about in TechCrunch Europe. Kima’s aim is to invest between €5,000 and €150,000 in 100 start-ups within the next 2 years.

Uh, that’s a lot of seed.

There’s been a lot of whispering about whether or not this is a good idea. How on earth do they plan to manage 100 companies, let alone make that many investments? With something like 52 weeks/year, Kima would need to make roughly 1 investment per week to reach their goal.

A dime a dozen.

Personally, I don’t really understand the criticism. It isn’t exactly raining seed money in France. And while Niel and Berrebi may be more occupied with making investments than actually managing them, entrepreneurs will have the added benefit of working with 2 of the hottest names in French tech – and their networks. What’s not to like about that? And the relationship comes with a check – better than lining-up at OSEO, no?

Two of a kind.

Funny enough, Marc Simoncini of Meetic announced the launch of a similar seed fund, Jania Capital, only several months before (be sure to check out their gorgeous website). If nothing else, I think France’s seed situation is about to dramatically improve.

FCombinator and the TechEtoiles.

The one model that seems to be locally MIA, is the YCominator or TechStars-type model: also known as mentorship with seed money.  Obviously there is Seedcamp, which is pan-European, but what about a YCombinator program for France? The Founder Institute, which just launched its Paris program, offers the mentorship component without the seed. So until someone decides to put this system into place, Kima and Jaina are essentially the next best thing for seed funding in France.