FILE PHOTO: French Junior Minister for Digital Affairs Cedric O, attends the GovTech Summit 2019 in Paris, France, November 14, 2019. REUTES/Gonzalo Fuentes
PARIS (Reuters) – France will roll out a 4 billion euro ($4.33 billion) liquidity support plan for start-ups in the wake of the coronavirus outbreak, junior minister Cédric O said on Wednesday.
Investments in early stage digital companies have boomed in France in recent years, helped by tax cuts and business-friendly measures put in place by President Emmanuel Macron, who has vowed to turn the country into a “start-up nation”.
“We’re announcing a specific plan to support the liquidity of start-ups,” O told French radio station Radio Classique. “In total it will be a plan for 4 billion (euros).”
The money injected by venture capital funds into French start-ups jumped 30% over the first three quarters of 2019 from a year earlier to 3.9 billion euros, according Dealroom, a data provider.
The French government’s…
Source Reuters Tech News
Source link
