France boasts 215 start-ups and companies listed in the "AgriTech" and "FoodTech" sectors, making it the leading country in the European Union for fundraising in these two fields and the fifth in the world.
France stands out as a global leader in the AgriTech and FoodTech sectors, with 215 startups * and companies thriving in these industries. Within the European Union, it has secured a prominent position in fundraising and currently ranks fifth worldwide. This remarkable achievement is attributed to France's rich agricultural knowledge and culinary heritage, reinforced by strong government backing.
Evidence of thriving French AgriFoodTech: a 242% funding surge
Proof of the dynamism of the French AgriFoodTech sector is the 668 million Euros raised in 2022 representing a 242 % increase on 2021.* This advancement is particularly noteworthy, especially considering the 68% decline in overall startup funding in France over the past year.
Behind most start-ups lies a distinctive entity known as an incubator or accelerator. Their primary goal is to take an inventive concept and mold it into a prosperous business. These entities furnish entrepreneurs with workspace, initial financial support, mentoring, and create a nurturing environment for pioneering groundbreaking technologies, spanning from precision farming to the development of innovative, healthier, and ethically produced food products.
French food incubators fuel food innovation
Among France's leading incubators we can mention Smart Food Paris. Backed by Carrefour, Danone, and the Elior Group, Smart Food Paris is a FoodTech incubator launched by Paris&Co, the capital's economic development and innovation agency. This platform unites startups, major companies, institutions, experts, and local authorities to collectively innovate around sustainable food. FrenchTech has launched the FoodTech network, eight incubator ecosystems across the country. The latter connects startups with diverse stakeholders across France, serving as a hub for collaborative solutions in the food industry. Additionally, we should highlight entities like Foodshaker and Food Factory located in Lyon, as well as Valorial, which operates across the regions of Brittany, Normandy, and Pays de la Loire.
Notable success stories nurtured by French incubators include Phenix, currently at the forefront of France's battle against food waste, Too Good To Go, offering consumers discounted gourmet items from unsold inventory, and Quitoque, which delivers ingredients and receipts to your doorstep, allowing you to organize a good meal.
Get into innovative farming with Hectar
On the AgriTech side, Hectar is one of the latest incubators to emerge backed by French billionaire businessman Xavier Niel (known for Station F and Free) and former agricultural advisor to Emmanuel Macron, Audrey Bouroulleau. Located outside Paris, Hectar spans over 600 hectares, creating a unique ecosystem that integrates agriculture, entrepreneurship, and technology. It offers support programs for agricultural entrepreneurs, a startup accelerator, and a pilot farm for regenerative agriculture.
France's abundant agricultural heritage and culinary traditions have been instrumental in fostering innovation in Food Tech and Agri Tech. These two sectors are clearly priorities for meeting the challenges of the future, given the growth of world's population projected to reach 9,6 billion in 2050. **
*French government (25/02/2022)
*United Nations News Center
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