French Tech struggles to take its unicorns to the stock market


Speech by Jean-Noël Barrot, Minister Delegate in charge of the Digital Transition, during French Tech, September 22, 2022, in Bercy. GAUTHIER BEDRIGNANS/Hans Lucas via AFP

DECRYPTION – A year ago, the executive set the objective of listing ten French start-ups by 2025. A difficult bet to keep.

The target was ambitious, probably too ambitious. In November 2022, the objective given by the government to French Tech to pimp a herd of 10 unicorns, these famous companies valued at more than 1 billion euros, to the Paris Stock Exchange by 2025, had raised eyebrows among connoisseurs. And for good reason: the executive’s announcement took place in the middle of a market downturn, at a time when the financing tap had already started to dry up for start-ups.

While 124 tech companies entered the Nasdaq in 2021, the most mature stock market for this type of company, this figure fell to 2 in 2022 and peaked at 6 in 2023. The Minister Delegate in charge of the Digital Transition , Jean-Noël Barrot, indicated in November 2022 that it was “precisely the moment to begin work. “We must be ready for the day when the situation becomes favorable again”he said to Echoes.

Create a dynamic

Twelve months later, it is clear that the promise is very poorly taken. “To my knowledge…

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