France is the 3rd largest economy in the European Union and one of the largest in the world. With 66.9 million inhabitants and a Gross Domestic Product of approximately 2.8 trillion dollars, this country is particularly appreciated for being economically developed with a large, diversified and sophisticated consumer base. Furthermore, the Paris metropolitan region supports the largest concentration of technological and computer engineers after the well-known Silicon Valley.
Of the various existing industries, the areas with the most business opportunities for startups and small businesses are tourism, technology, agriculture, transport, energy and manufacturing.
Major cities most suitable for startups
According to Valuer.ai, Lyon, Nice and Paris represent the 43rd, 39th and 26th best cities for startups respectively, in a ranking of 50 global cities. The reasons why Lyon finds itself in this position is due to its growing popularity in startups at a very early stage. Furthermore, it is one of the main innovative cities in Europe. Furthermore, this city has low living costs and a less hectic environment compared to Paris, factors that also appeal to entrepreneurs and investors.
Nice was chosen because it offers a large and diverse startup community, with several events and meetings for entrepreneurs taking place every year. This city is one of Europe's high-tech locomotives due to its strong technological presence concentrated in the Sophia Antipolis science park. However, Nice also has high living costs, high taxes and bureaucracy.
Finally, there is the French capital. Paris offers excellent venture capital networks and other forms of financing, several incubators and accelerators, among many other advantages. Therefore, entrepreneurs and their innovative ideas play a fundamental role in French business culture. The only disadvantage highlighted in this list centers on local startups not wanting to expand internationally, losing the chance to become unicorns.
Likewise, two other French cities are listed in Europe's 30 most exciting startup cities and hubs, developed by siliconrepublic (Europe's leading technology, science and startup news source). Montpellier highlighted as Silicon Valley of southern France and Toulouse for its rise in smart technology startups such as IoT.
