SENNA

France's Entrepreneurs Get a Boost from New Government-Backed Program

Paris - France is ramping up efforts to support entrepreneurs from underrepresented communities, with a new government-backed initiative aiming to assist 70,000 founders over the next four years.

The "Entrepreneurship in Neighborhoods 2030" program, launched by state investment bank Bpifrance in 2023, is the latest step in the country's push to foster more diverse entrepreneurship. The program provides funding, training, and networking opportunities for entrepreneurs from marginalized neighborhoods.

According to Marie Adeline-Peix, Bpifrance's executive director for regional partnerships and territorial action, the goal is to address a key challenge facing these founders - a lack of professional contacts and support networks. "When we started the program, entrepreneurs from these neighborhoods told us they felt they lacked the connections to properly support their ventures," she said. "Those who had started businesses often found their 'in' by chance, while others worried entrepreneurship wasn't for them."

To change that, Bpifrance is deploying a multi-pronged approach. It is sending entrepreneurship "buses" into neighborhoods, partnering with local incubators, and offering a free digital platform to guide founders through the startup process. The centerpiece is an annual "Headquarters" event, which will hold its second edition on December 4th in the Paris suburb of Saint-Ouen.

The early results have been promising. According to Bpifrance's French Entrepreneurship Index, the share of neighborhood residents pursuing entrepreneurial projects has risen from 1-in-7 in 2018 to a current level the organization declines to specify, but calls a "significant improvement."

Experts say the initiative comes at a critical time for France's startup ecosystem. While the country has produced tech giants like Dassault Systèmes and Criteo, its founder pool remains dominated by graduates of elite universities - a dynamic that can stifle innovation. By tapping new sources of entrepreneurial talent, the "Entrepreneurship in Neighborhoods" program aims to address that imbalance.

"Diverse founders bring fresh perspectives and experiences that are invaluable for solving real-world problems," said Thomas Grange, a partner at Paris-based venture firm Partech. "Programs like this one from Bpifrance are an important step towards building a more inclusive startup community."

With €500 million in funding over the next four years, the ambition is to turn that step into a major leap forward for French entrepreneurship.