France seeks Singapore founders in startup initiative
French government wants Singapore entrepreneurs to join its year-long French Tech Ticket programme, which offers funding and mentoring support to international startups, focused in big data, IoT and fintech.
The French government said it was aiming to lure "startuppers" in the creation or growth phase, and that were focused on big data, Internet of Things (IoT), fintech, and cleantech, to join the programme. This would be the second instalment of the initiative, which signed up 23 startups from 23 countries last year out of 722 applications submitted. Some 29 percent of the startups were from Asia including China, India, and Vietnam. None were from Singapore.
This year, 70 startups would be selected and hosted in more than 40 incubators across France for a year, starting January 2017. The French government said it was keen to include founders from Singapore in the second series.
Startups will be selected from a competition and the winning teams would receive 45,000 euros (US$50,882) each, enjoy a "fast-track" process for a French resident permit, help in relocating to France, as well as a host of Master classes, networking, and mentoring sessions to guide the startups in their growth.
The second-largest venture capital market in Europe, France clocked US$2 billion in VC funding last year, which accounted for 22 percent of all deals in the country. In the first quarter of 2016, it attracted the most investments in Europe.