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France Boosts Support for R&D
Following extensive public consultation, the French Ministry for Industry and Research has announced a revamped national strategy to boost support for research and development (R&D) activities in France. The plan, to be implemented in 2004, aims to make financial resources for innovative companies more accessible and to increase France’s appeal to the international R&D community.
Some of the key measures include:
- Single-shareholder venture capital companies. A new status for innovative start-ups and single-shareholder venture capital companies will allow newly created companies to recruit dedicated research staff at reduced costs.
- Small-to-medium-sized innovative start-ups. Companies with R&D projects established in France for less than eight years will be partially exempt from social charges and business tax for investment in research, and eligible for increased tax reductions.
- Increased tax reductions. These will be offered annually to all companies with investments in research.
- Continuation of research tax credit. The highly competitive Research Tax Credit for R&D-related expenses, enjoyed by many international companies in France, will be renewed and improved in 2004 for higher competitiveness.
- Simplified assistance for innovation. ANVAR (French Agency for Innovation) will facilitate relations with local innovation promoters and Chambers of Commerce to provide site-specific information.
- Strategic industrial R&D support. This includes increased direct participation of French authorities in R&D through enhanced cooperation between public and private research bodies and easier access to financial incentives.
- Concrete solutions. To optimize R&D in companies and laboratories, initiatives in increasing the number of CIFRE grants (co-financed work contracts for young engineers), encouraging public-private scientific programs, and renewing financing for high-performing incubators will be undertaken.
Invest in France Agency is the French government agency for international investment. For more information, visit Invest in France Agency North America at: http://www.afii.fr/NorthAmerica/Newsroom/PressReleases/?p=pr_2003-04-09