The Next40 and French Tech 120 rankings reflect the vibrancy of France’s startup ecosystem. With 120 startups selected from a pool of more than 11,000 submissions, these rankings indicate the most successful and promising companies in the country. The Next40 ranking highlights companies with a strong rate of growth over the past year, while the French Tech 120 ranking provides insights into more established businesses and showcases innovative startups that are transforming their industries.
The French Tech 120 and Next40 lists are annually published by France’s ministry of economic development, industry, tourism and international trade in order to identify the most promising start-ups and businesses in France. The lists focus on technology companies with a focus on innovative products or services. Criteria used to make these selections includes innovation, company size, growth potential, investment attractiveness and social impact.
Unlike most major tech companies, La French Tech is all about collaboration. They believe that the best way to innovate and grow is through working together. This ethos
This year’s Next40 has a much more diverse mix of startups, with 11 newcomers. EcoVadis, NW Storm, Innovafeed, Pigment and Verkor are all French Tech 120 members that out-performed the rest of the startup industry last year. This indicates that there is tremendous potential for growth in the French tech scene and shows that France is still a leading player in the tech world.
With so many new startups entering the market, it’s important to keep up with the latest and greatest. Club Funding, Electra, ZePlug, Flying Whales, SAFTI and Wifirst are all exciting new companies that you should be keeping an eye on. They each have their own unique offerings which could help drive growth within their respective industries.
While some Next40 startups became public companies last year, others fell down the rankings or were omitted altogether. One such example is Meero, a music streaming service that failed to established a strong user base and closed its doors in March. This year’s Next40 list showcases startups with more sustainable businesses, who are looking to continue growing for years to come.
The Next40 ranking is determined by how much VC money a company has raised. However, if your company is a unicorn, then it automatically becomes a part of the list. 26 companies have joined the Next40 so far this year, and as for the rest of the group, they have raised a funding round of €100 million or more between 2020 and 2022. This signifies that investors are still interested in investing in startups that have potential to grow significantly.
Since the establishment of the French Tech 120 in 2012, these startups have become increasingly successful in raising money. This year, four of them pulled in €43 million or more from investors. These companies are doing well and seem to be setting a good example for other businesses looking to raise capital.
After reviewing the 40 selected startups, the government has determined that many of these companies are generating a lot of revenue and are growing quickly. These startups have proven they are successful by reaching a certain level of success within a short amount of time.
Some startups generate significant revenue through their marketplace services, which helps to increase online sales. Sendinblue and Younited are two such startups that have reached significant levels of profitability. Mirakl is also a successful startup, having generated over $135 million in annual recurring revenue in 2022.
For startups wanting to get a head start in France, La French Tech provides a number of resources and support. This includes access to 60 different partner administrations, all of which can be used to try and improve the situation with public administrations. Additionally, through working with La French Tech representatives, startups can receive help with things like visas for foreign employees, getting certification or patents, and more.
Despite progress being made, the French Tech 120 still has a long way to go when it comes to female representation and diversity in the ecosystem. This is evident by the limited number of women involved in founder roles or as CEO’s, as well as a lack of diversity across organizations. Moreover, this trend is also apparent when looking at revenues: only 15 companies generate over €1 billion ($1.2 billion) in revenue (compared to 47 companies generating €11.3 billion). Additionally, it is important to note that there are still many developers and entrepreneurs working within the French tech ecosystem who are not included in these numbers – they simply do not have access to some of the publicly-released data sources
