Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

French startups beg expats - 'Come home, work for us'

Published 27/05/2015, 18:07
© Reuters.  French startups beg expats - 'Come home, work for us'
TRIP
-

By Andrew Callus

PARIS (Reuters) - French startup companies desperate for talent with international experience launched a campaign on Wednesday to persuade expats to return, pooling their resources to offer free repatriation help and advice as part of the package.

The initiative is called "Come Back Leon" after a 1980s TV advert where tasty pasta lures youngsters away as their elders plead: "We have the same at home!"

Aimed at the high-flyers who were children then but left in despair at red tape and poor prospects, the adapted catchphrase "We are innovating at home!" carries the message not that they were wrong to leave, but that it is time to return.

Despite France's reputation as a high tax, low growth, bureaucratic country, the claim to be a centre for dynamic young companies has some foundation.

It was the most represented nation for a fourth successive year in the Deloitte 2014 top 500 index of Europe's fastest growing tech firms, counting 86 companies in total. Paris also claims status as the startup capital of Europe.

A tax structure that encourages research and development spending provides another ingredient, along with a strong research bent in the country's universities.

The Come Back Leon scheme has a modest budget of "several hundreds of thousands of euros" (dollars) according to Frederic Mazzella, the founder of successful car-sharing website BlaBla Car. It is funded by the members themselves and by the state's La French Tech initiative.

The project members reckon the startup sector will need to fill 3,000 jobs this year alone. But entrepreneurs at Wednesday's launch know they have their work cut out winning over cynical expats who have found their niche elsewhere.

"Every time we look to recruit someone for a big post, we ask the question can we go looking in the United States or another country, and each time the recruitment firms tell us 'no, they'll never come back'," said Bertrand Jelensperger, founder of lafourchette, created in 2006 and now a 400-million-euro a year online restaurant booking firm that is part of U.S.-based TripAdvisor (O:TRIP).

"That's frustrating."

The group believes it has plenty to aim at - estimating that 2 million French people live abroad, about half of whom have the degree level-plus profiles they are looking for.

The 40,000 or so working in Silicon Valley are a primary target, and the group is planning roadshows in New York, San Francisco and London this summer.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.