The Macron Effect: Political Will Meets Digital Ambition

Emmanuel Macron's presidency marked a turning point for French Tech. As Economy Minister, he had already championed digital innovation, but as President, he made it central to France's economic strategy. The "Startup Nation" vision went beyond slogans, encompassing regulatory reform, investment incentives, and cultural change.

The French Tech Visa, launched in 2017, simplified recruiting international talent. Recognizing that digital innovation requires global talent, France made it easier for startups to hire foreign employees, founders to relocate, and investors to operate. This openness, contrasting with increasingly restrictive policies elsewhere, attracted talent fleeing Brexit uncertainty or American visa restrictions.

Tax reforms made entrepreneurship more attractive. The flat tax on capital gains, reduction in wealth tax, and improved stock option schemes addressed longstanding complaints. While controversial politically, these changes signaled that France valued entrepreneurial success. The brain drain reversed as French talent abroad returned home.

Government digitalization efforts created markets for startups. The commitment to digital public services meant government became a customer for innovative solutions. This provided crucial early revenue for startups while improving public services. The French model showed government could catalyze rather than stifle innovation.