French incubator and accelerator EuraTechnologies has raised €24 million in funding. Created in 2009, the incubator is a forerunner of French Tech and a model of brownfield rehabilitation.
Going forward, the new investment will allow the French firm to deploy an ambitious roadmap. EuraTechnologies will look at bringing together the world of research and deeptech startups for the region. In line with its main mission of helping create jobs, the incubator will create 3,000 additional permanent jobs on its sites by 2027, through the long-term success of the startups it supports and the companies in its ecosystem.
The company is also looking to invest €10 million in state-of-the-art technological equipment, focusing on a few key sectors such as cybersecurity, agtech and proptech. One of its first planned investments is a cyber range for the cyber campus.
Going green, the Lille-based company wants to become a net zero incubator by 2030. All entrepreneurs at EuraTechnologies will receive net zero training and have access to tools to accelerate their transition.
Halfway between Paris, London, Brussels and Amsterdam, EuraTechnologies is the gateway to Western Europe for startups in these ecosystems. But now, it is looking at spreading wings across Europe and moving beyond its home turf. It will open 10 incubators in Eastern European technology universities and in emerging digital ecosystems.
It has roped in the Mulliez family (through the Mulliez Family Association) and Entreprises et Cités (via ECTech), among other private investors for this investment. All of EuraTechnologies’ historical shareholders are also participants in this funding round, including the Lille European Metropolis, the Hauts- de-France Region, the City of Lille, Crédit Agricole Nord de France, Caisse d'Epargne Hauts-de-France and Crédit Mutuel Nord Europe.
Martine Aubry, former French Minister, and chairman of the supervisory board of EuraTechnologies said: “Our digital incubator in Lille is entering a new dimension, leading the way to an even more inclusive and environmentally friendly startup ecosystem. Since its creation, it has become the largest startup incubator in Europe. This fundraising will extend this dynamic to new players. Opening the capital of this technological jewel to private investors will help accelerate digital transformation and create 3,000 additional jobs by 2027.”
Nicolas Brien, chairman of the board of EuraTechnologies added: “After the covid crisis, our startups are more mature and face new challenges, such as the shortage of talent in digital professions. We are betting on deep tech and will equip ourselves with state-of-the-art facilities so that startups can make technological leaps.”