The Ecosystem Begins to Form

Despite the challenges, the mid-2000s saw crucial ecosystem development. Tech blogs like FrenchWeb and Rude Baguette began covering the nascent startup scene. Early coworking spaces like La Cantine opened in Paris. Meetups and conferences brought entrepreneurs together, creating community where none had existed.

Venture capital slowly emerged. Funds like Partech, Idinvest, and Balderton began investing in French startups, though amounts remained small compared to US or even UK standards. The typical Series A in France might be €2-3 million, when comparable US startups were raising $10-15 million.

More importantly, a cultural shift was beginning. The 2008 financial crisis, paradoxically, helped. As traditional career paths in banking and consulting became less secure and less attractive, top graduates began considering entrepreneurship. The success of companies like Meetic and vente-privee provided role models. American tech giants opening Paris offices exposed French engineers to startup culture.