By Supantha Mukherjee
Stockholm (Reuters) -Paris has been named the new European technical champion and report London for the first time on some statistics, according to data from the dealroom, which collects information about startups and risk capital companies.
Between 2017 and 2024, the combined business value of the startups of Paris increased 5.3 times, compared to 4.2 times for London, Dealroom said, after assessing dozens of statistics that contribute to a successful technical ecosystem.
Although London attracted larger financing rounds, the actual ratings of the companies have not increased dramatically, while the financing rounds that are secured by Paris have had a greater impact on valuations, said it.
French technology companies, including Mistral AI and Poolide, raised $ 7.8 billion last year, less than $ 11.3 billion of London.
Europe affects other regions in technical innovations, with only some countries trying to stimulate technical investments.
While the market capitalization of global technology, media and telecom companies rose from $ 7 trillion in 2000 to $ 34 trillion last year, the share of Europe fell from 30% to only 7%, said an McKinsey report Wednesday.
If Europe had maintained its share, it would have generated an extra $ 8 trillion in market value, it said.
Paris is also the only European city on the top five of the top five of the global champion list, which is dominated by American cities.
It occurs a month on Paris that organizes one of the largest global technical conferences, Vivatech, with top managers of companies such as Nvidia, Alibaba, Meta, OpenAi, Mistral, Anthropic and Cochere. Last year's conference was attended by more than 165,000 people.
“It's not just about the competitiveness of Paris on the AI scene today, it is also about what will happen and how we can continue to attract the talent, investments and technical activities,” Francois Bitouzet, director of Vivatech, told Reuters.
Since he came to power in 2017, French President Emmanuel Macron has spoken about the willing that France is a world leader in AI and 'Deep-Tech', which invite various companies to invest in the country and insist on the establishment of Startup Incubator Station F.
(Reporting by Supantha Mukherjee in Stockholm. Edit by Mark Potter)
