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France invites Singaporean entrepreneurs to join its startup ecosystem
June 27, 2016 News

The second season of the French Tech Ticket, a global startup competition launched by the French government, is seeking to attract Singaporean startups in the  areas of Big Data, IoT, Fintech, and Cleantech.

The competition promises local startups the opportunity to  take their next big idea to new markets outside of Singapore, and to take part in the booming innovation ecosystem in France.

After a highly successful Season 1 that welcomed 23 startup teams in Paris from 23 countries around the world, the second season is aiming higher. Around 70 winning teams will be hosted in over 40 high-caliber incubators around France in January 2017.

The winning teams will get €45,000 ($49,822.65) in funding, hosting in one of 41 incubators around France for 12 months, master classes, networking events, mentoring sessions, and a  fast-track procedure to obtain a French resident permit.

France has been driving a bold startup policy for some years now and is today one of the leading host countries for the world’s most innovative companies.

Paris’s density of incubators, startups and the involvement of major groups in Open Innovation programs have placed the Parisian market largely on the world innovation map.

Over the past few years, American tech giants such as Google, Intel, Cisco, and Facebook have chosen France to develop their future technologies. France has the second largest venture capital ecosystem in Europe.

Venture capital represents 22 percent of all deals in France while the overall VC funding in reached $2 billion in 2015. Venture capital investment in French startups grew significantly in the first half of 2015, with €759 million ($840.3 million) raised through 244 deals. This translates to more than 70 percent in the amount invested and more than 30 percent in the number of deals as compared to a year earlier.

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