The Macron Effect

Emmanuel Macron's 2017 election marked a watershed. Here was a president who spoke fluent English, understood technology, and had worked in investment banking. His campaign itself had been a startup—built from scratch in less than a year using digital organizing techniques. His vision of a "Startup Nation" wasn't just rhetoric; it came with concrete reforms.

The changes came rapidly. Labor laws were reformed to make hiring (and firing) easier. Stock option taxation was overhauled, finally making equity compensation competitive. The wealth tax was replaced with a property tax, removing a major deterrent for successful entrepreneurs. Corporate tax rates were reduced from 33% to 25%.

"For the first time, we had a government that understood what startups needed," reflects Anne-Sophie Pastel, who founded the cybersecurity startup Quotium in 2016. "Not subsidies or grand plans, but basic things like being able to give meaningful equity to employees or hire someone without a five-year commitment."

The French Tech Visa program, launched in 2017, simplified the process for international talent to work in French startups. Within three years, over 10,000 international professionals had used the program, bringing crucial skills and global perspectives to French companies.