PARIS: New French President Emmanuel Macron has launched a technology visa for startup founders, employees and investors in a bid to attract international tech startups to come to France, reported CNBC.
The visa, aptly named “Talent Passport”, will surely make it easier for overseas talent to work in France while the new rules and regulation will also shore up startups with money.
Fast-tracked process of “Talent Passport” will let individuals to get a residence permit in France. This permit will be legal for 4 years and will be extended to instant family members. it is same as American H-1B visa policy to some extent, which is issued to an exceptional talented individual.
Talking to CNBC, Macron said,
“I want France to attract new entrepreneurs, new researchers, and be the country for innovation and startups”.
The French President added later during a keynote speech that, “I want this country to turn into a country of unicorns … the key is instructing and keeping talent in the country.”
Macron also unveiled the plans for a European Venture Fund that can prop up startups as they grow.
France hit Venture capital investment $1.6 billion in 2016, a steady level after the $1.7 billion the year before. It still covers the likes of the U.K. and Germany however has seen a bunch of investors jump into the marketplace.
Pakistani establishment needs to learn from this great initiative by French president. Government should create such platforms to effectively utilize available talent and to boost the startup culture in Pakistan.