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France launches 4-billion-euro support plan for start-ups: minister – Source Reuters Tech News

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…

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Source Reuters Tech News

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