The biggest start-up incubator was launched by French President Emmanuel Macron in central Paris. Paris is slowly becoming the technology hub of the world.
The name of the incubator is Station F it is 34,000 square-meter and the aim of the start-up is to provide accommodation to 1000 new, inexperienced companies. These companies will be supervised by tech giants Amazon, Microsoft, Facebook and Ubisoft French gaming company.
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Macron talked about his journey of becoming the business incubator with 2,000 investors, entrepreneurs, IT students and partners. He said that rarely anyone thought it would work. What made it work is that you want to work for your story yourself; you don’t need anyone else to work for your idea. It is your idea and you fulfill it.
Xavier Niel the person who transformed the French internet and mobile market was also present on the occasion. He said that the incubator presents a strong image of Paris. The idea behind the start-up is to help people.
Feel of incubator:
It feels like an American college campus.
- Entrepreneur’s pay 195 euros ($221) per month for one of 3,000 workstations in a venue
- Many French universities would also fund the project and provide on-site advice.
- 10-billion-euro ($11.3-billion) fund for innovation by Macron
- Neil invested 250 million euros in Station F
Out of 40 incubators that have come up in Paris, Station F is the biggest, competing with London and Berlin to be become Europe’s technology leader. This is the Silicon Valley as per Gaelle Madelin-Girardeau, co-founder of an e-learning platform for children.
Importance of Station F to France:
This achievement by France is quite welcoming. For a long time France was considered hostile towards business, due to high labor costs and red tape. Now this incubator would help improve the image of the country. Macron wants France to build and think like a start-up, to keep coming up with new ideas and fresh air for the society. As per Mayor Anne Hidalgo the incubator would release Paris of its “museum-like city” image. Neil said that after this incubator entrepreneurs from around the globe would come to Paris to establish their startup. The climate of business in France for entrepreneurs is changing and evolving for the better.