bpifrance is a new concept of a bank for entrepreneurs in France that aims to support innovative companies, foster entrepreneurship, and provide export credit tools. It has three main missions and provides a variety of financing options for startups and small-to-medium businesses, including loans, guarantees, venture capital investments, and more. With over €40 billion in assets under management, bpifrance has helped over 60,000 companies. France is becoming a rising startup ecosystem, with the third largest number of deals in Europe, a growing venture capital industry, and the largest tech campus in the world under development, Station F.

1. A New French Revolution
European Entrepreneurship & Innovation
Stanford Engineering - Monday 8, January 2018
Paul-François Fournier
Chief Innovation Officer
bpifrance.fr

2. 3 missions
Support Innovative
Companies
Foster
Entrepreneurship
Provide Eximbank
Tools
A new concept of a Bank for Entrepreneurs

3. Bank Loan
Guarantees
and Credit
Insurance
Loans
Innovation
Financing
VC
Small Cap
Eq. Invt
Mid-Large Cap
Eq. Invt
Fund of Funds
€8B
p/y guarantees
€16B
p/y export credit
insurance
Excluding funds dedicated
to unsecured loans
€15B
per year
€1,3B
per year
(soft loans /
subsidies)
€1,5B
AUM
€1,4B
AUM
€14B
AUM
€4B
in 330 Funds
€1B
committed in 2017
60,000
companies
per year
20,000
companies
per year
4,000
startups
2,000
SMBs
per year
7 Funds
50 invts
per year
4 Funds
100 invts
per year
Orange, Gemalto,
STmicro, Ingenico,
Soitec, Criteo,
Talend…
including
Atomico,
Balderton, Versant
Ventures, New
Leaf, Advent
The « French Silicon Valley Bank »

4. Rising
VC Industry
Large
Talent Pool
New
Culture
A New Tech Revolution

5. A Large
Talent Pool

6. Easy
Access
Competitive
Workforce
Scientific
Excellence
1,000,000 engineers
= Germany
$60,000 / year
+ 30% Tax Credit
IoT / Telcos
80,000+ devs / year Low Turnover AI / Analytics
70,000+PhD / year
47% foreigners
60 hours / week Biotech
Secret sauce: the talent pool

7. A New
Culture

8. A massive cultural shift
50%of 18-24 year old French people want to create
their own company
Poll IdInvest / ViaVoice, April 2015

9. Early leaders
Role Models
New Kids on the Block
Frédéric
Mazella
Antoine
Martin
Nicolas
Dessaigne
Jonathan
BenhamouJérôme
LecatOlivier
Pomel
Daniel
Marhely
Bertrand
Diard
Pierre
Chappaz
Xavier Niel
Jean-Baptiste RudelleJean-David Blanc
Pierre K-Morizet
Marc SimonciniLoic Le Meur
Jacques-Antoine Granjon

10. A talented community in the US
Yann Lecun
Head of AI
Alex Dayon
Pres. Product
Gilbert Passin
VP Manufacturing
J-P Courtois
Exec. VP
Marc Onetto
ex SVP Operations
Fidji Simo
VP Product
Frederic Lalluyaux
Former CEO
JB Rudelle
Founder
Alex Lebrun
Founder
David Gurle
Founder
Eric Setton
Founder
Jérôme Lecat
Founder
Mathilde Collin
Founder
Nicolas Dessaigne
Founder

11. Number of deals by regions
(S1 2017)
341
36
52
33
23
5
17
23
9
3
16
15
1
Source

12. Some French Unicorns
• Car sharing
• $335M raised
• 600 employees
• 50M members in 22 countries
• Cloud hosting solutions
• $650M raised
• 2,000 employees
• 260,000 servers in 19 countries

13. Time to think BIG
Station F
The Largest Tech Campus in The World
1,000
startups

14. A Rising
VC Industry

15. 177 142
87
253
297
74 114 126 121
167
204
1004
269
342
477
203
294 302
870
679
586
1452
58633
41
24
40
30
36
31
37
52
47
35
43
65
69
66
49
81
133
150
144
188
169
166
0
100
200
300
400
500
600
700
800
900
1000
1100
1200
1300
1400
1500
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
160
170
180
190
200
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Investments($M)
Numberofdeals
Investments Deals
2012 2013 2014 2015 2016 2017
VC x3 in 3 years
Source
Creation

16. 1.3 1.3
3.2
3.8
3.2
0.
1.
2.
3.
4.
2012 2014 2016
0.5
0.6
0.8
1.5
2.7
0.
1.
2.
3.
4.
2012 2014 2016
0.5 0.5
1.2
1.8
2.7
0.
1.
2.
3.
4.
2012 2014 2016
0.6 0.6
2.
2.9
2.
0.
1.
2.
3.
4.
2012 2014 2016
UK France GermanyIsrael
France is now #2 in Europe
Volume in $B (2012 - 2016)
Source

17. 4,110
France is now #2 in Europe
410
542
644
545
520
100
238
375
513
650
2012 2014 2016
118
167 180
243
590
100
238
375
513
650
2012 2014 2016
88
132
166
241 231
100
238
375
513
650
2012 2014 2016
165
245
288
353
380
100
238
375
513
650
2012 2014 2016
Number of deals (2012 - 2016)
Source
UK France GermanyIsrael

18. 80
160
0
40
80
120
160
200
2012 2016
Average size of
French VC funds (€M)
x2
Today’s challenge: growth stage
Largest rounds in the last 12 months ($M)
OVH 250 KKR, Towerbrook Capital Partners
Sigfox 150
Salesforce Ventures, Bpifrance,
Total, Alto Invest, Intel Capital, Elliott
Deezer 110 Access Industries, Orange
Devialet 105
Bpifrance, Korelya Capital,
Foxconn, Renault, SharpCM CIC
Actility 75
IdInvest, Bpifrance, Creadev,
Foxconn, Ginko
Oodrive 71 Tikehau Capital, MI3, NextStage
Vestiaire Collective 62 IdInvest, Eurazeo, Vitruvian
Blade 51 Business Angels
Algolia 53
Accel, SaasTr Fund, Alven, Point
Nine Capital, Storm Ventures
GuestToGuest 35 Alyan, MAIF

19. $308M Altice
$275M Wolters Kluver
$213M Snap
$191M Nokia
$189M Trainline
$122M IPO
$106M iHealth
$57M enea
Top exits last 12 months

20. They believe in French entrepreneurs

21. THANK YOU
paulfrancois.fournier@bpifrance.fr
@Paul_F_Fournier