Fundraising by French startups reached €11.6 billion in 2021, up 26% in volume and 115% in value compared with 2020.

These record rounds of fundraising have boosted startups’ revenues (up 23% on 2020) and generated a 20% increase in the number of employees, with 6,056 jobs being created (87% of which are in France). Thirty-nine percent of CEOs are optimistic because they expect their startups’ revenues to double between 2021 and 2022.

These record figures stem from the survey carried out by the consulting firm EY and France Digitale with 583 French startups. They are featured in the 11th edition of their annual barometer “Economic and social performance of digital startups in France 2021”, which was published in September 2022.

The growth experienced by French startups is partly thanks to the support they have received from the French government. In 2021, 58% made use of the research tax credit, 45% benefitted from the innovation tax credit and 49% received the “young innovative company” label.

French businesses are becoming increasingly aware of the importance of inclusion, with 33% of French startups employing people over 55, 21% employing people with disabilities and 75% employing at least one person from another country. Gender equality is also progressing, with 14% of female CEOs in 2021, compared with 11% in 2020.