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Early stage challenge: is Sarkozy boosting the French entrepreneurial spirit?(FEATURE: FRANCE)
France is widely viewed as a country of entrepreneurs, after all that's where the name came from. Technology wiz kids, life sciences specialists and, in recent years, a growth in the amount of cleantech companies (despite France being a nation of nuclear power stations) have put France on success potential alert.
But the red tape and burdensome employment costs in France have traditionally made it a very challenging country in which to develop startups into viable profit-making businesses. And businesses with a global focus too.
President Sarkozy's right wing centralised administration would appear to be boosting entrepreneurial spirit and giving the lifeline start-ups need with funds from France's very particular wealth tax regime and through initiatives to reduce the social cost of employing the scientists and engineers.
Set up by the finance law in France in 2004 to support young companies that are very active in early stage R&D, the jeune enterprise innovante (JEI) scheme acknowledged that without some tax incentives, the country's technology, life sciences and cleantech companies would never make it out of the university labs.
The 1789 JEI companies that took advantage of the scheme in France in 2006 have collectively benefited from 87.4m [euro] of employer contribution exemptions, according to the latest data provided by the l'Agence centrale des organismes de securite sociale (ACOSS).
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