France Plays Footsie with Southeast Asian Startups, Launches French Tech Ticket

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France sets up initiative to attract tech startups from Southeast Asia. According to Tech Wire Asia, they will have the opportunity to compete for relocation to France, thanks to the “French Tech Ticket” competition launched by the French government, which is now entering its second season.

The French Tech Ticket competition aims to absorb entrepreneurs from across the globe for a year. 70 winning early-stage tech startups are chosen to to be hosted in one of 41 incubators in France.

Successful applicants will also receive $49,835 (€45,000 ) per project with no loss of equity, a tailored program of masterclasses and events, a dedicated workspace within the assigned partner incubators, and a “Soft Landing Pack”, which is meant to help foreign entrepreneurs relocate to France.

Startups dealing in big data, financial technology (fintech), and the Internet of Things (IoT) are of particular interest to the French Tech Ticket competition, said Muriel Pénicaud, chief executive officer of Business France and French Ambassador for international investment.

“Asian startups and entrepreneurial talent are now becoming fully recognized on the international scene”

Muriel Pénicaud, chief executive officer of Business France

Eligibility for the competition depends on several factors: the startup must be at an early stage, have plans to develop the business in France, and be a team of just two or three co-founders.

The teams must also be able to speak English, have a maximum of one French citizen or none at all, be ready to relocate and be fully-devoted to the project by January 2017 in order to participate to the program to attract tech startups from Southeast Asia.

Southeast Asian ecommerce entrepreneurs interested in this opportunity to expand into a more mature market, with higher per capita spending and more refined taste can find a link to the website here, deadline is August 24. Bonne chance!

A version of this appeared in TechWireAsia, read full story here