French people and startups

‍In September 2019, Emmanuel Macron announced the goal of 25 French unicorns by 2025. This ambition has been achieved 3 years earlier than anticipated with Exotec joining the highly privileged ranks of startup elite. While the President of the Republic made this a highlight of his five-year term, to what extent do the French feel concerned by the subject? What is their perception of startups and their impact on society? To find out, Episto, a specialist in social media studies, surveyed 1000 French people* on 4 key topics: image, usage, employment, and investment.

A generally positive opinion

97% of French people are familiar with the concept of a startup, and 58% believe they have a positive impact on society. They are perceived as equally or more innovative than large corporations (74%), and equally or more attentive to their consumers than other companies (77%).

However, the specificities of this ecosystem are far from being understood by everyone: 80% of French people do not know what a unicorn is, these famous startups valued at over $1 billion, or have never even heard of them. It is also noted that only a third know what 'French Tech' is - the ecosystem that brings together startups, investors, and decision-makers, notably championed by Cédric O, Secretary of State for Digital Affairs, and Frédéric Mazzella, founder of BlaBlaCar.

The widespread use of certain unicorn services has democratized the concept of a startup

79% of French people have already used Doctolib's services, 37% BlaBlaCar's, 25% ManoMano's, and 21% Back Market's. These unicorns have made new consumption patterns accessible and offer goods and services aligned with current trends: ecological awareness, growth of online shopping, and household budget rationalization.

Conversely, VeePee (formerly Vente-Privée), Lydia, Vestiaire Collective, and Sorare are at the bottom of the list of unicorns adopted by the French, with 12%, 11%, 4%, and 2% of them having used their services, respectively.

Startups are seen as an opportunity for 18-24 year olds

The new generation seems to view startups as a source of hope: for 69% of 18-24 year olds, they can help society address ecological transition challenges (compared to 53% of the global sample), while 63% believe they can provide solutions to employment and professional integration issues (compared to 53%).

Younger individuals also consider them an opportunity for their careers, unlike their older counterparts who appear more hesitant: nearly 60% would like to work for a startup (compared to 33% of those over 25) and 41% see them as a vehicle for social mobility (compared to 25% of those over 25), with startups perceived as less demanding in terms of diplomas and qualifications.

French individuals remain cautious about investing in startups

Although a significant percentage of French people consider startups to be growth drivers for the economy (47%), only 1% report having already invested in one.

However, it is observed that more than a quarter are considering it; a trend that could further advance as initiatives encouraging French individuals to invest in startups and SMEs are developing.

« As the presidential election approached, we were curious to know the extent to which French people were interested in the topic of startups, or if it only concerned a minority: in reality, they are familiar with the tip of the iceberg (the concept of startups, the largest ones like Doctolib or BlaBlaCar), but they feel relatively unconcerned by the economic challenges and subtleties of this ecosystem, and still seem somewhat hesitant to work for them or invest their savings in them. However, it is worth noting the hope they represent for the new generation, who view them as solutions to major societal challenges and as springboards for their professional future », comments Jérémy Lefebvre, CEO of Episto.

Study Methodology

1000 respondents.
Representative sample of the French population according to the quota method.

Study dates: February 16 to 20, 2022.
Respondent source: Facebook and Instagram.