Unleashing unicorns: La French Tech’s strategy to boost high-value startup creation in France

La French Tech is a program and an ecosystem that aims to accelerate the rise of unicorns in France. The mission’s creation and success materialized in the goal of 25 unicorns reached in 2022 ahead of the scheduled time (2025). This achievement attracts attention to the Unicorn phenomenon in France and how it can be encouraged in a country initially lagging behind and where the national context was not considered favorable. Unicorns are startups that achieve a $1 billion valuation milestone. They epitomize economic dynamism and contribute to a country’s image of business talent. The skills of attracting foreign equity investment, boosting employment, and creating value explain the political and media attention that startups receive as they strive to become unicorns. This case study examines the impact of La French Tech Mission and highlights factors facilitating startups to unicorn status. Students will be able to analyze ecosystems’ roles, analyze challenges and opportunities confronting unicorns, analyze the prevalent organizational structures of unicorns, and propose actionable recommendations for the program. The Teaching Case fosters a comprehensive understanding of the dynamic landscape of high-value startups applicable to real-world or hypothetical scenarios.