PARIS, FRANCE – For most, Paris may be known as the fashion capital of the world, but for tech lovers it is the home of the latest le web conference. Le Web, tagged as the “place where revolutionaries gather to plot the future” has recently celebrated their 10 year anniversary. Today, LeWeb is recognized as the premier international conference for startups and entrepreneurs. For 3 days, visionaries from around the world gather together to unlock the potential of where technology can take us in the next 10 years.
However, Paris was not always the most likely location for such an event in the past. In fact, French expats have been very vocal in stating that startups would be better off launching in London rather than Paris. French billionaire entrepreneur Xavier Niel has defended his city by countering, “We have a perception problem, you don’t need to get on a plane. It can happen here.”
Across Europe, public and private entities are offering cheap working spaces, special visas and even state aid to attract talented innovators to their countries. But some say France’s wealth taxes and complex labor laws may be an inhibitor to progress. As Paris’s deputy mayor has pointed out, “France has had a horrible reputation among investors. We need to show foreign startups why they should come here.” And the city is doing just that.
Paris’s new startup-hub dubbed Numa is already catching wide media attention and is aiming to attract up to 45,000 visitors and 600 tech start-ups per year. The space is a breeding ground for talent from everyone from students to established entrepreneurs, and has even attracted funding from Google. Billionaire, Xavier Niel is also doing his part to aid in the efforts by helping to finance a $164 million project to convert a warehouse into what is projected to be the world’s largest startup incubator by 2016.
Many hope that these recent bold moves will spur economic growth. The finance ministry estimates that the country’s GDP can increase upto a ½ % just by expanding its startup sector.
There is no doubt that there is a new momentum in France’s start-up scene; and only time will tell if these new platforms will bring lasting economic change. This has been Teri Ham, reporting from Paris, France for TBS eFM.
GlobeTrotter Reporter for TBS eFM 101.3
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