The French start-up ecosystem hit new heights in 2022, setting a record in fundraising and revenue growth. This impressive performance has resulted in the most selective promotion of the French Tech Next40/120 program since its inception. The bar has been raised for companies seeking to join the program, with 27 new entrants accepted this year, compared to 30 in 2022.
Despite the reduced number of new entrants, the quality of companies joining the French Tech Next40/120 this year is impressive. Eleven of the 27 new entrants are in the French Tech Next40, representing the program’s highest tier. These companies have demonstrated exceptional potential for high growth and innovation, making them the driving force of the French start-up ecosystem.
One sector that has been making waves in the French start-up ecosystem is agritech. Six agritech companies have made it into the French Tech Next40/120 this year, including Myditek, ultra-premium direct, InnovaFeed, agriconomie, La belle vie & Ÿnsect. These companies are located across the country and have developed cutting-edge solutions for the agriculture industry, cementing their position as essential players in the ecosystem.
The French start-up ecosystem has continued to flourish, with €5.8 billion raised in funding by companies in the French Tech Next40/120 this year. Impressively, €4.3 billion of that amount was raised by companies in the Next40. This underlines the high potential of these companies and the importance of the French Tech Next40/120 program in supporting their growth. Furthermore, it’s worth noting that the success of agritech companies in the French start-up ecosystem was not limited to their inclusion in the French Tech Next40/120. According to La FrenchTech, FoodTech-AgriTech companies raised a combined funding of 790 million euros in 2022, reflecting the growing importance of this sector in the ecosystem.