In January 2019, Bpifrance launched a Deeptech Plan aimed at doubling the number of deeptechs, startups specializing in disruptive innovations, most of which originate from the research community, by 2023. Bpifrance has decided to increase its funding.
Deeptech financing: 2 billion euros by 2023
Bpifrance had initially planned to finance French deeptechs to the tune of €1.3 billion as part of its Deeptech Plan.
Despite the Covid-19 pandemic, the support plan is ahead of schedule. As a result, Bpifrance has re-evaluated funding at €2 billion between now and 2023, instead of the €1.3 billion initially planned.
In 2 years, Bpifrance's investments have increased by 58%, reaching a total of 221 million euros. In addition, 870 million euros were injected by the public bank through fund-of-funds investments.
Bpifrance has defined 3 priority areas: healthcare, the industry of the future and Greentech. 200 startups have been created since the launch of the Deeptech Plan, and 400 deeptechs have benefited from 220 million euros in innovation financing by 2020, in the form of repayable advances and grants.
A commitment to support and raise awareness
The Bpifrance support plan has been set up with the aim of making France the leader in Deeptech in Europe. To achieve this, 3 action levers have been identified:
- ensure a continuum of financing,
- develop entrepreneurial training and support,
- increase equity investments.
The public bank has set itself specific objectives:
- double the number of women CEOs,
- double the number of research-led deeptechs,
- increase fundraising by a factor of 4,
- halve the time needed to negotiate licenses.
To raise awareness among doctoral students, 44% of whom already see entrepreneurship as a possibility at the end of their thesis, Bpifrance has set up the lesdeeptechs.fr platform, designed as a community for creating links between startups and investors.
Bpifrance also organized the Deeptech Tour, a tour of France's university campuses designed to bring together the worlds of research and entrepreneurship.
Between 2019 and 2020, French deeptechs raised €2.5 billion from private investors, compared with €1.4 billion between 2015 and 2018.