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Hollande announces new start-up measures for France

13 февраля 2014, 14:19
French President Francois Hollande announced Wednesday in California measures to favor French start-ups, on the last day of his US visit, AFP reports.

"France must recognize the dynamism of its entrepreneurs" and promote "the spirit of initiative" he said before several dozen French start-up leaders gathered at French Tech Hub, a business incubator located in San Francisco, at Silicon Valley's doorstep.

The French president also promised to launch a new push for crowdfunding, with the adoption of a rule next month that will promote the financing method, popular in the United States.

"A project can collect up to a million euros in loans via crowdsurfing" for the creation of businesses, he said.

Hollande also called on the president of French employers union MEDEF, Pierre Gattaz, who was accompanying him, to encourage major French firms to make offers to students at the end of their studies similar to what is being done in California.

This would allow students to "have the job security to then develop their own business," he said.

He also revived the idea of "talent passports" for foreign creators, innovators and entrepreneurs so that they might receive French visas more easily.

"Between 5,000 and 10,000 people could benefit from this each year," he said.

Hollande noted that attracting start-up talent means paying at the same level as major companies, "which is not easy when a business is created."

He said that allowing for various share options could help attract top talent.

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