So, that whole France.fr fiasco this summer was pretty embarrassing for France. But hey, at least the local entrepreneurs got the last laugh. Still, I would’ve thought France would be a little more careful about putting its foot in its mouth, but maybe not. And this time there’s unfortunately nothing particularly funny about the situation.
Back in 2004, France introduced a special tax scheme, called the Jeune Entreprise Innovante (JEI), granting tax breaks for startups meeting a certain criteria (less than 8 years in age, 250 people maximum…) and investing no less than 15% of their turnover in R&D. In a country where it doesn’t exactly rain VC funding, this definitely had a very positive impact and kept companies hiring at home.