Paul-François Fournier : comment Bpifrance veut armer l’économie française

Paul-François Fournier, Director General of Bpifrance, recently discussed key issues in France's sovereign innovation strategy, highlighting the acceleration of Deep Tech, new crypto funds, defense strategies, and the structuring of European venture capital.

Since the launch of the Deep Tech Plan six years ago, Bpifrance has been instrumental in financing innovation. The plan, executed in collaboration with France 2030, aims to integrate scientific advancements into the real economy by creating technological startups. The target is to increase the number of Deep Tech startups from 160 to 500 annually, with 385 already established in 2024.

Life sciences (biotech, digital healthcare pathways) Green tech (batteries, biodiversity, agritech) Sovereign technologies (AI, quantum computing, semiconductors)

Bpifrance acknowledges the Deep Tech ecosystem's heavy reliance on public funding. The goal is to reduce the public sector's share to 20%, aligning it with the digital sector. However, an estimated 30 billion euros is needed for series A and B funding over the next six years, necessitating the attraction of private capital, particularly from Europe, and the creation of specialized funds.

The establishment of a 25 million euro fund focused on digital assets marks a strategic shift for Bpifrance. The aim is to understand Web3 infrastructure rather than speculating on cryptocurrencies. This initiative seeks to identify key technological components beneficial to finance and secondary markets.

Bpifrance supports dual-use technologies through specific funds like Definvest and Innovation Défense. These funds promote startups operating at the civil-military intersection, with a focus on AI, quantum computing, drones, and space technology. For this ecosystem to thrive, a cultural shift is necessary in large corporations, alongside defense sector adaptation to the startup model.

Fournier advocates for healthy intra-European competition (France, Germany, Netherlands) and convergence in venture capital. The objective is to expand Series A/B funds to a European scale, attract international LPs, and create a fluid capital market.

To facilitate the growth of Deep Tech startups, there is a need for industrial exits. Bpifrance calls for a transformation in large corporations' innovation culture, encouraging investment, acquisition, and consolidation.

D’après FrenchWeb.