6 lessons from Bpifrance Inno Generation 2017

The 3rd edition of Bpifrance Inno Generation was held on 12 October in Paris , at the AccorHotels Arena, and highlighted 3 major themes: Transformation, the International arena and the French Fab.

Over the course of one day, 37,000 participants attended the thematic workshops (more than 180!) and followed the remarks of about 100 French and international speakers from a wide range of fields.

After having been one of the organizers of the event within Bpifrance, I had the pleasure of exploring firsthand the various spaces of this true festival of innovative entrepreneurship. Penned a few days after the event, here are 6 lessons taken from my encounters, my speeches and my discoveries.

1. The French ecosystem is more dynamic than ever 

This major event is a unique opportunity to take the pulse of the general state of the French ecosystem and its various stakeholders. The least we can notice is its vitality, its diversity, its extraordinary ability to reinvent itself and, above all, its optimism.

Our entrepreneurs are ready to rock! And above all, for the first time in a long time, the planets are aligned: both investors and capital are there, the demand is too, the administrative and legal framework is undergoing a new transformation. In short: the winds are favourable, and the success of an event of such magnitude as Bpifrance Inno Generation is a great illustration of this.

2. We must think about innovation in a European context

At a time of Brexit and the emergence of populist movements in the old continent, it would be easy to lose faith in Europe. However, its role as an accelerator of innovation is a very concrete reality, particularly for France.

On the occasion of Bpifrance Inno Generation, Bpifrance and the European Investment Fund (EIF) - a subsidiary of the European Investment Bank (EIB) - strengthened their partnership for innovation.

A new envelope of 600 million euros is now allocated to innovation and seed loans for the next two years (on top of the 800 million euros already committed since 2015!). This is very good news for French entrepreneurship, and something of a thumbing of the nose at all those who systematically rhyme Europe with bureaucracy.

At the same time, the excellent speech of Margrethe Vestager, European Commissioner for Competition, reminded us of the key role played by the European institutions in ensuring that innovation and entrepreneurship develop while respecting the rights of the 500 million European citizens and consumers!

3. Going international is key, and Africa appears to be the place to go!

Global expansion, partnerships development with international players and exports: these strategic plans are no longer restricted to big corporations! Our VSEs, SMEs and ETIs must integrate this dimension as soon as possible. Two regions received my attention: Africa and the Middle East.

The African population is projected to reach 2.5 billion inhabitants by 2050 (including 500 million francophones!). Now more than ever, Africa seems to be the number one destination for our entrepreneurs interested in developing their business outside of France. These dizzying demographics are compounded by solid growth, and coupled with huge global demand. Africa is not the continent of tomorrow, but simply the place to be today! Your move, entrepreneurs!

I was also impressed by the dynamism and openness of the Saudi "young leaders" from the King Salman Youth Center in Saudi Arabia, who came to draw inspiration from our French ecosystem.

4. The French Fab is launched!

What a pleasure to see so many leaders and speakers wearing the blue rooster of the French Fab during their speeches! What a thrill to see the space dedicated to the industry, at the heart of the AccorHotels Arena cauldron, filled with leaders and doers all day! Bpifrance Inno Generation was a resounding wake-up call to the French industry that thought —for all too long—that the game was over.

5. French SMEs must go digital (it’s now or never!)

Bpifrance Inno Generation allowed us to review the conclusions of the latest study carried out by Bpifrance Le Lab on the digitization of SMEs, through a dedicated workshop that I had the pleasure of introducing.

The conclusions of this study are a warning: a vast majority of small and medium-sized French companies neglect to invest in their digitization, at the risk of losing the battle for competitiveness.

SMEs, however, have every interest in digitizing themselves: it is a way for them to get closer to their customers, to know them better and to retain them in a context of increased consumer volatility. Digitization also enables companies to look for new growth levers, particularly through the use of data.

But the study also provides practical and immediately useful tools for entrepreneurs to progress in their digitisation thanks to a simple and robust methodology.

This is a crucial issue for growth and jobs in our country. Let’s take a moment and reflect on those 3 figures: there are 3.5 million SMEs in France, i. e. 99.9% of French companies. 48.3% of French employees work in SMEs! Food for thought...

6. There’s no I in Team!

Bpifrance is a financial partner, adviser, investor, accelerator, insurer, partner in internationalisation and export: it is the "Swiss Army knife" ally for entrepreneurs.

It is also a platform whose aim is to foster dialogue between all the actors of the French ecosystem. An event like Bpifrance Inno Generation 2017 is a shining example of the valuable roles it plays, as network creator and facilitator.

It is through collective action that we have made the French Tech emerge, and it is with this same spirit of cooperation and conquest that we want to boost the French Fab!

Finally, a final word of thanks to the Bpifrance teams, who contributed to the success of this exceptional event. You did a great job, congratulations!

And of course, see you next year!