Web Summit | Paris, The European Capital of Innovation 2017

Tosin Business News, Startup News, Web Summit 2017

In August 2017 the top 10 cities with the most innovative ideas to improve quality of life and to encourage citizens to participate in community life reached the final stage of the European Capital of Innovation Award 2017. This year’s European Capital of Innovation (iCapital) was awarded to Paris during Web Summit, along with a prize of €1,000,000.

Upon receiving the prize Anne Hidalgo, Mayor of Paris claimed “I will share the prize with my team, deputy mayor of  Paris who is in charge of the innovation’. Missika, Paris’ deputy mayor, also stated that Paris is in the process of creating a new education system to teach adolescents the languages of digital technology, preparing them for the new economy. The runners-up to the prize were Tallinn and Tel-aviv, who received a prize of €100,000 each.

Why did Paris win?

To win the prize Paris had to prove that it had improved the quality of life by creating new concepts, processes, tools and models as well as engaging their citizens in the innovation process.

Paris implemented the following new initiatives:

1. Producing the City

Since late 2015, the City of Paris and the Est Ensemble, Plaine Commune and Grand-Orly Seine Bièvre territories have undertaken a joint initiative to boost the economy and the employment of the region. This project involves over 600 companies, institutions and investors and aims to have all the urban population take part.

2. Reinventing Paris

Anne Hidalgo, Mayor of Paris, launched this initiative which has since been a success and led to Reinventing Paris 2. Contrarily to many cities aiming to build the highest skyscrapers, Paris tries to do the opposite.  The project aims to bring together partners in order to offer a ‘subterranean city’ by creatively revolutionising real estate.

3. Station F

In June 2017 Paris opened  Station F, the world’s largest startup campus. The station was founded by partners such as Facebook and Microsoft and is now home to 1,000 startups. The venture strives for diversity and aims to include women and entrepreneurs from underprivileged backgrounds.

4. Le French Tech

French Tech refers to anyone working in or for French startups in France or abroad.

La French Tech also has a program known as The French Tech Ticket program is designed for entrepreneurs from all over the world who want to establish their startups in France. This year, more than 140 French startups will be exhibiting in La French Tech’s booth in Hall 4.

Final words

This year, countries from around the world had a valuable opportunity to prove that by creating new concepts, processes, tools and models it is possible to improve the quality of life. If you are also thinking about changing the world by implementing innovation, do not hesitate to book a free legal session with Linkilaw today! Our highly qualified team will provide you with free legal recommendations that will help to scale-up your business.

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