Dear French Entrepreneurs : Please get out of line

Your average American probably seems like a good rule follower. They stop at red lights, know how to wait in line and are smiles-all-around. On the other hand, not-so-much for your average French. A little striking and complaining screams probably screams “trouble maker” across the Atlantic. Plus, they’re not good at waiting in line. Just ask French start-ups like DelivrMe and JaimeAttendre.

JUST DO IT ?

So you’d think that with all that noise, French entrepreneurs would be the first to throw themselves in the deep end. But no. Seems the Nike slogan still has some work to do. Actually, there are a few things that everyone seems to point out when it comes to comparing French entrepreneurs to their American counterparts:

1. Too much theory (also known as too much text).

I’m pretty sure this comes from the education system, the administration and the fact that it’s not really a fly-by-the-seat-of-your-pants type of culture. My general impression is that often too much effort goes into over-preparation and that this delays execution. I realized this at a conference I was just at, when it seemed that an insane amount of hesitation was going into launching a simple corporate blog or Facebook Fan Page. Granted, the crowd wasn’t your average tech bunch but still. Sure, it’s important to prepare before launching – but in most cases, it’s not rocket science. A little less paperwork, a little more lights, camera, action. Launch first, tweek later.

2. Too much complication.

For anyone who doesn’t know this, the local general rule of thumb for everything is “why make it simple when it can be overcomplicated ?” And I love this. Except when it comes to launching a company. Numerous VCs have confirmed this for me, but foreign and French – French entrepreneurs have a talent for pitching overcomplicated ideas. I’m not saying that the Americans don’t do this because they do it too. But the KISS rule (“keep it simple, stupid”) could really go a long way here. Take a fraction of your business plan and do it really well. I’m fairly certain Larry and Sergei pitched a simple search engine – not the Google Empire.

3. Too much copycat.

I can’t tell if its an inferiority complex or an attempt to beat the system. Maybe a bit of both. The minute an idea gets big in the States, it immediately gets scooped up and spit back out in Franco-form. Chatroulette, FourSquare, now Groupon, you name it, the French versions all exist. They’re even modified for local taste, kind of like the BigMac. For some US companies – like Yelp, Etsy or Mint – where there is a definite space in the market but no local offer, a local copycat makes total sense. Or in the case of OpenTable , where the US company came but couldn’t crack the French code right away. But fewer ideas of French origin are really making waves à la Vente-Privée. Maybe because all the eyeballs are looking abroad for inspiration ? Either that, or because French VCs feel more comfortable funding ideas that are getting funded in start-up Disneyland, aka Silicon Valley. (That being said, the French really know how to do e-commerce and VCs are way more at ease funding clear revenue models.)

The F-word.

But ultimately, the theory, the complication and the copycat seem to be symptoms of something that is a huge problem for French entrepreneurs to face. Yes, I’m talking about the F-word: failure. Culturally, a failing start-up is much less accepted than in the Valley – but this isn’t news to anyone. But I think that within the start-up ecosystem, this is changing. French entrepreneurs are at least aware of this aspect and talk about it openly. As for talking about their actual failures openly – well, that seems a little too far off in the distance for now. I’d love for one of the future tech events (LeWeb?) to bust out a panel of entrepreneurs to talk about their failures in front of the French crowd. Fail damnit, #fail. Maybe once the French tech crowd gets more comfortable with the idea of failure they’ll get a little more adventurous and out of line.

The Truth: (Young) French VCs ARE on Twitter

In an earlier post, I applauded the French VCs that I found on Twitter. Turns out a majority of the French VC adoption of Twitter  is from the younger VC crowd. I’ve included them in my FrenchVC list on Twitter but here is a quick look at who they are.

Serena Capital

Has funded companies like Creads.org (@creads), Augure (@augurerepmgmt) and RSI Vidéo Technologies (@notontwitter). 

Young VCs from their firm on Twitter include: Marine Desbans (@mdesbans) and Jean-Baptiste Dumont (@jbdumont)

Ventech (@ventech_vc)

Ventech has a gorgeous portfolio and includes companies like Viadeo (@viadeo), Bonitasoft (@bonitasoft) and Awdio (@awdio_usa).

The just launched their official Twitter account last week – the same time as they announced their investment in London-based Muzicall (@muzicall).

Their young VC: Mounia Rkha (@moumsinette)

Alven Capital

Another VC firm with a very impressive portfolio, including MyFab (@myfabfr), Companeo (@companeo), MobileTag (@mobiletag) and more.

Their young VC on Twitter is: Jeremy Uzan (@jeremyuzan) 

Elaia Partners (@Elaia_Partners)

The only other firm with an official account, as far as I know. Another very nice portfolio, with investments in Criteo (@criteo), Goojet (@goojet) and WyPlay (@Wyplay). 

The account is run by their young VC, Samantha Jérusalmy.

**Feel free to let me know if I’ve left anyone out.

Why am I applauding these guys?

I think they’re definitely leading the way in terms of new technology adoption and are changing the face of the stereotypical, traditional VC. Also, as many of the new media-related products are oriented towards a younger crowd, having a younger VC on the team works nicely as they can also play the role of a beta tester. It’s nice to see that French VC firms are not only realizing the benefit, but actually implementing a mélange of the age-range.

Who is still MIA?

If I’m not mistaken, most of the bigger more well-known French VC firms are still nowhere to be seen! Sofinnova, Innovacom, Partech and the likes…