Can Paris Become the Next Silicon Valley?
Turned off by negatives like the Bay Area’s high cost of living, tech entrepreneurs are shopping around. While Asian hubs like Tokyo, Beijing and Taipei seem like natural fits, the City of Love could be the next big thing, OZY reports. The French government is courting foreign innovators by speeding up visas, while new funding is flowing in. Meanwhile, financial reforms, including tax credits, could further encourage the country’s traditionally risk-adverse entrepreneurs.
What obstacles does France face? Language, as well as European companies’ emphasis on generating revenue with goods and services versus plowing capital into ground-breaking ideas, remain significant challenges for the budding tech hub.