Artificial Intelligence (AI) is revolutionizing the business world and transforming our daily lives. In the context of intensifying global competition, with increasing investment announcements, particularly in the United States, France is leveraging a highly dynamic AI startup ecosystem, with a number of promising companies, to strengthen its position, sovereignty, and the competitiveness of its business. It is deploying its initiatives across the entire value chain, with a majority of SMEs deepening their digital transformation: within one year, the proportion of SMEs using Generative AI in their operations increased from 15% in 2023 to 31% in 2024.1

To support this strategic sector, Bpifrance continues to implement a range of measures aimed at fostering the development of this technology in France and its adoption by French businesses.

Bpifrance is mobilising €10 billion by 2029, which will be allocated to:

• Equity support

In significant funding rounds, particularly in the segment of foundation models. In addition to startups placing AI at the core of their value proposition, Bpifrance will invest in AI infrastructure players or new specialised AI components/chips;

In fundraising for profitable, high-growth companies implementing AI at scale across various economic and sovereign sectors.

• Strengthening fund-of-funds actions

By continuing investments in French and international funds active in AI, both in foundation models and applications, and across the entire financing chain, from seed to growth capital;

By supporting new players with innovative AI-dedicated fund models;

By assisting management companies in integrating AI tools within their portfolio companies’ support processes.

• Supporting its portfolio companies to raise awareness of disruption risks and opportunities for transforming their business models

A pioneer in supporting companies in the AI sector, Bpifrance had been involved in substantial fundraising efforts for the past 10 years:

• Investments in AI since 2015 as part of Bpifrance’s investment strategy to support young companies developing innovative technologies:

Equity investments in high-growth AI economy players: Ekimetrics, Artefact, Braincube, Chapsvision.

Over €1bn directly invested in innovation capital by the end of 2024 in “AI first” companies or those integrating AI components into their business models, with participation in major GenAI funding rounds in recent years, such as Mistral AI in 2023, Poolside in 2023 and H in 2024.

• A substantial funding of AI solutions driven by France 2030 with:

Over €3.4bn in financing for innovative projects with an AI theme by the end of 2024 notably through the deployment of specific France 2030 calls for projects (CFPs): CFP Embedded AI; CFP Digital Commons for Generative AI; CFP on the Uses of Generative AI; CFP Strengthening Cloud Service Offerings (AI and Cloud convergence…); CFP Shared Data Spaces (SDS). Embedded AI; CFP Digital Commons for Generative AI; CFP on the Uses of Generative AI; CFP Strengthening Cloud Service Offerings (AI and Cloud convergence…); CFP Shared Data Spaces (SDS).

• A venture capital ecosystem strongly supported by Bpifrance and its partner funds, with equity investments from Bpifrance and mandates managed on behalf of third parties, particularly within the framework of the France 2030 program including the National Seed Funds, which have contributed to the emergence of players with a strong interest in the field, such as Elaia and FRST, which have supported companies like Poolside, H and Aqemia.

Bpifrance and 7 of its partner funds are among the 10 most active French players (by number) in financing French AI startups.

As of the 30th of June 2024, the funds subscribed by Bpifrance had deployed over €1bn in AI startups since 2015:

• Over 416 M€ in Seed Funding, over 500 M€ in Venture Capital and over €159 M€ in Growth Capital
• Investments in over 150 startups focused on AI technologies, particularly impacting B2B software and healthcare. Among these companies are Mistral, Dust and Bioptimus.

Investment in an AI-dedicated fund: in 2024, Bpifrance subscribed to the AI-specialised fund, Alpha Intelligence Capital II, which notably led the seed round of the French company FlexAI alongside several French players. Investment in AI-dedicated funds are often seen as expert validation, thereby generating a positive ripple effect among other VCs, benefiting the AI ecosystem.

 

Bpifrance supports French companies in adapting to Al-related changes:

• Launch of the AI Booster France 2030 support program in September 2023:

Comprising training sessions and consulting missions, this program aims to raise awareness among companies about artificial intelligence, assist them in leveraging their data, and integrate one or more AI solutions to boost productivity and enhance offerings.

This initiative is supported by Bpifrance, the Ministry of Economy, Finance, Industrial and Digital Sovereignty, as well as the General Secretariat for Investment as part of France 2030.

Within this program, the Data Intelligence Artificial diagnostic helps business leaders identify value-creation projects from their data.

This diagnostic particularly targets companies wishing to embark on innovation and stimulate growth through AI-related projects.

In 2024, over 600 SMEs/ETIs were supported through a network of around 100 AI experts covering the entire French territory, including companies from the Mid/Large portfolios by Bpifrance representatives.

This initiative has generated significant interest, with an exponential increase in requests: approximately 50 requests from SMEs/ETIs per month on average in 2024 (compared to 40 Data AI diagnostics conducted in 2022).

A 16-hour online training course, Artificial Intelligence Curriculum, dedicated to SME/ETI business leaders, with over 8000 participants enrolled in this comprehensive and free course in 2024.

The launch of the Digital and AI Transition Accelerator is planned for late 2025.

Bpifrance Le Lab, an expert in the transition and evolution of AI within French companies:

• A study on the impact of Generative Artificial Intelligences within French micro-enterprises and SMEs, published in March 2024.
• Barometer

The Bpifrance Le Lab – Rexecode Barometer « Cash Flow, Investment, and Growth of SMEs/Micro-enterprises » for the second quarter of 2024, which includes a focus on SME/micro-entreprise investment in Artificial Intelligence, published in May 2024

• The publication of the 80th business survey of micro-entreprises and SMEs, including a section on the use of Generative Artificial Intelligence, in January 2025.

« In this era of rapid acceleration, France has a significant role to play in this revolution. It already boasts 750 AI startups and globally recognised gems. It relies on a robust ecosystem and possesses the necessary talents and skills to make a difference. Through our investments and continuous support, we are strengthening France’s position as a global player in this strategic field. » – Nicolas Dufourcq, CEO of Bpifrance.