Celebrating 10 Years of Innovation:
La French Tech's Toronto Networking Event

Winners Circle: Inside La French Tech's 10th Anniversary Celebration at CN Tower.

Words by Tinashe Machokoto
Photography by Jaynain Panchal

The bustling tech hub of Toronto witnessed a remarkable convergence of French excellence in technology and innovation as La French Tech Toronto celebrated its 10th-anniversary networking event on October 24th. This star-studded gathering at the iconic CN Tower saw a diverse assembly of 200 C-suite executives, politicians, founders, and investors eager to explore new opportunities for collaboration, business, and investment in the tech world.

La French Tech Background

Celebrating 10 years of innovation, La French Tech stands as a testament to France's prowess in entrepreneurship. President Emmanuel Macron recently unveiled staggering statistics, showcasing the remarkable growth of the French Tech ecosystem. Over the past decade, the nation has fostered the development of 25,000 startups, generating 500,000 direct jobs. The trajectory is impressive, with the ecosystem raising 1 billion euros in 2012 and skyrocketing to an impressive 13.5 billion euros in 2022, solidifying France's position as a thriving hub for tech innovation. This remarkable growth is underscored by the fact that in less than five years, French Tech has burgeoned from 4 to an impressive 26 unicorns, each valued at over a billion dollars, propelling them onto the global stage.

In addition to these achievements, La French Tech champions various public measures aimed at propelling the ecosystem to greater heights. Initiatives such as French Tech Health20, designed for disruptive innovations in the health sector, and French Tech Agri20, focusing on innovations in food and agriculture, exemplify the breadth of support provided. Furthermore, programs like French Tech Attractiveness Scholarship and French Tech Visa showcase France's commitment to attracting foreign talent and fostering a globally connected startup environment. As France emerges as the first EU country for foreign direct investment (FDI) in 2022, these initiatives demonstrate the concerted efforts to make the French Tech ecosystem not only grow but shine on the world stage.

La French Tech: A Beacon of Innovation

As a vibrant community of French, francophone, entrepreneurs, business leaders, investors and officials based in Toronto, La French Tech serves as a beacon of French excellence in technology. Supported by the French government, this community aims to foster collaboration, business expansion, and investment within its extensive network of 140 French Tech communities worldwide.

This networking event was not just a local gathering; it was part of the larger French Tech Week, which celebrated a decade of innovation. The week, spanning from October 16 to 22, 2023, witnessed 250 events taking place across France and the world, showcasing the dynamism and ambition of French Tech. ‍

French Tech Week served as a platform to reflect on past achievements, envision future ambitions, and make the tech sector accessible to all. The initiative aimed to unite the players in today's innovation and tomorrow, celebrating the successes of the French tech ecosystem and its promising future.

La French Tech Toronto Networking Event

The 10th-anniversary celebration of La French Tech at Toronto's CN Tower did not disappoint. It delivered an exclusive yet welcoming evening of networking and learning. As one walked into the room, the ambiance was charged with enthusiasm and anticipation.

What stood out was the spirit of community and collaboration that La French Tech had cultivated in Toronto since its inception. It was heartening to learn that the Toronto branch of this global movement was built entirely by volunteers and passionate trailblazers who dedicated their time and efforts to grow it into what it is today – truly remarkable. Estelle Chen, Co-Founder and President of La French Tech Toronto, emphasized the importance of gender parity. Earlier in the year, on May 18, 2023, at the Royal Ontario Museum, they gathered 520 attendees, with 50% identifying as female. In a special announcement, she shared that next year, La French Tech will hold an annual gathering of pioneering French Tech innovators at Casa Loma on May 28, 2024. This commitment to achieving equal representation at La French Tech Toronto’s events is a point of pride.

The role of the government in nurturing the French start-up ecosystem was a central theme throughout the event. The success of French start-ups with the help of government support was a source of delight for all who attended. The event beautifully highlighted the hub of innovation that Ontario, Canada has become. The tech sector's diversity, not just within the event but in the wider ecosystem, was a testament to the industry's inclusive nature. It was a perfect blend of professionalism and the easy-going feel of an event fueled by passion and a common purpose.

Eye Opening Remarks from Notable Government Officials

The event featured two distinguished speakers who shared their valuable insights and perspectives on the event's significance and the accomplishments of La French Tech.

Mr. Bertrand Pous, General Consul of France in Toronto, delivered an enlightening speech that shed light on the origins and objectives of La French Tech. He described La French Tech as a cluster and movement initiated by the French government, with three primary goals. According to Mr. Pous, these objectives include "better understanding the composition of the ecosystem in order to support it, fostering cooperation between the stakeholders, and helping the ecosystem gain more international recognition”. He went on to further drive the point of the impressive impact the French tech ecosystem is having on employment numbers, stating, "the French startup ecosystem employs more than one million people, approximately the same figure as the graduated engineers, the highest level in Europe." This statement emphasizes the enormous growth and success of French startups over the past decade. It is no wonder why they are becoming so attractive to prospective employees.

Moreover, Mr. Pous highlighted the impressive growth of La French Tech and its impact on the French startup ecosystem. He noted that the movement now operates in 67 countries, with 140 communities. He further commended the Toronto chapter, which was launched in May 2020 and has rapidly expanded since. 

Towards the end of his remark, Mr. Pous celebrated the international recognition and support that French startups have garnered over the years. He noted, "More and more international investors have chosen French startups to diversify their portfolio," highlighting the attractiveness of the French start-up market. His praise for local chapters like French Tech Toronto, which play a crucial role in connecting ecosystems and promoting France to local companies and investors, solidified the importance of their contributions.

Following him on stage, MPP Natalia Kusendova-Bashta, the Parliamentary Assistant to the Minister of Francophone Affairs in Ontario, took the stage to commend the thriving tech sector in Ontario and its collaboration with France. She spoke on Ontario's role as a technology leader, with substantial investments in areas like artificial intelligence, fintech, and cybersecurity. She proudly stated, "In the last three years, we've secured over 13 billion in tech investments across important sectors." This quote paints a clear picture of the remarkable growth and stability of Ontario's tech industry, making it an attractive destination for businesses.

MPP Kusendova-Bashta highlighted Ontario's competitive business costs and lower cost of doing business. She proudly revealed, "We've graduated more than 65,000 STEM students from our schools every year, fueling the number two cluster in North America." Such reveals illustrate the vital role of education in shaping the tech industry. She also touched on the importance of technology and innovation in shaping the future. She noted that technology is revolutionizing every aspect of life, from healthcare to communication. MPP Kusendova-Bashta reflected on the Ontario government's eagerness to collaborate with partners like La French Tech and the potential for further growth in the tech sector, highlighting how such an event is a testament to the thriving tech communities in France and Ontario. It truly was a marvel to see how La French Tech is fostering connections and cooperation within the global tech ecosystem.

This 10th-anniversary celebration of La French Tech was not just a milestone but a testament to the progress, collaboration, and innovation that have shaped the French startup ecosystem and the Ontario tech sector.

Insights From Our Keynote Speakers

This event was not just a gathering of like-minded tech enthusiasts but a platform where seasoned tech investors and entrepreneurial leaders shared profound insights that shed light on the intricate web of global economics and the ever-evolving tech landscape.

As John Ruffolo, the Founder and Managing Partner of Maverix Private Equity, took the stage, he captivated the audience with his reflection on the complex landscape of the current global economic scenario. In his own words, "We are now entering a period we have not witnessed in over 70 years. The disentangling of the global world order. The U. S. and China face off in a new Cold War for the digital age." This sobering insight served as a stark reminder of the challenges and opportunities facing the tech and business world today.

John's keynote address delved into the rapid pace of technological change and the rise of disruptors across industries. He emphasized, "The next phase of the fourth industrial revolution will see the rise of a new species of companies, the winner takes all disruptors." This vision painted a vivid picture of the technological upheaval that is currently reshaping business models, transcending traditional boundaries, and heralding a new era of innovation.

Marie Chevrier Schwartz, Founder and CEO of Sampler, also took stage and shared her experience of the entrepreneurial journey, showcasing the power of innovation and international expansion. She narrated her journey from being a brand ambassador to founding Sampler, a data-driven product experience platform serving global brands. Marie's inspiring journey came to life as she stated, "We were a company of six people when I made my first international step, and we were a company of 40 people when we made our acquisition, going into France." Her words showed the audience the transformative potential of bold ideas and international growth.

A Showcase of Innovation In The French Tech Space

In the realm of cybersecurity, Glimps, a pioneering company in deep file analysis, has been making remarkable advancements. Mr. Frédéric Grelot, co-founder of Glimps and a board member of both Glimps and French Tech Toronto, emphasized the importance of fostering collaboration between the two entities. Mr. Grelot stated, "My goal here is really to develop our first international office. In this purpose, it's very important for me to be engaged in the cyber security ecosystem and network, as well as in the tech ecosystem in general." This collaboration has significantly contributed to Glimps' global expansion while enriching the broader tech ecosystem. As such the partnership between Glimps and La French Tech Toronto is mutually beneficial.

A pillar of the tech community, OVHcloud, a global cloud service provider, has played a pivotal role in supporting French Tech Toronto. Gilbert Guillaume, Senior Marketing, Communication and Public Affairs Manager at OVHcloud, speaks about the significance of their partnership with French Tech Toronto, noting, "We have a very strong presence in Canada for the last 10 years. It's been 11 years that we started our adventure in Canada." OVHcloud's partnership underscores its commitment to nurturing innovation within Toronto's tech ecosystem. Emphasizing the importance of AI, Guillaume mentions, "AI is big, it's more than a buzzword. It's something that is ramping up. We can see, practically, lots of companies who are starting to use AI." OVHcloud's focus on democratizing AI through accessible solutions aligns with their commitment to fostering innovation. Their involvement in La French Tech Toronto's 10th-anniversary celebration exemplifies their dedication to Toronto's thriving tech ecosystem.

Axelor, with its expertise in open-source business application suites, is making waves in the tech industry. Hortense Fanouillaire, Director of Business Development and Global Operations for Axelor, discusses the company's entry into the North American market, emphasizing the use of open source knowledge and innovative technology. She mentions, "In the North American market, we are bringing first the open-source knowledge that we have, which is attracting people all around the world." Axelor's belief in the capabilities of French technology and their support for La French Tech Toronto is in harmony with their mission to promote French innovation on a global scale. As a key supporter of French Tech Toronto's 10th-anniversary celebration, Axelor proudly contributed to the event, demonstrating their commitment to the tech community and fostering innovation.

Jennifer Rodrigues, working at TD Bank Group, revealed the factors that have kept her loyal to the financial institution for over a decade. Jennifer remarks, "At TD, we really are a people-first organization. We care about not just bringing in the best, we also develop them. We retain them. Leadership is so supportive of the growth of its individuals." TD Bank Group, a long-standing sponsor of La French Tech Toronto, has found common ground in values and goals between their organization and La French Tech. Jennifer points out, "I think, aside from the obvious, which is we have a very large Francophone community in Canada, I find that even the innovation and the values of how those organizations operate align very closely." TD's partnership with La French Tech Toronto and its support for events like the 10th-anniversary celebration reflects their commitment to fostering innovation and collaboration within the tech community.

In an enlightening conversation, Ludovic André, Managing Director Venture Capital at Credit Mutual Equity, shared insights about the company's extensive support to entrepreneurs in various stages of their business ventures. It was noted, "Credit Mutual Equity financially backs entrepreneurs through venture capital, growth capital, and, where fit, they buy out entrepreneurs as well." Over 40 years, Credit Mutual has actively supported more than 350 companies. Ludovic also highlighted the importance of the Canadian market, saying, "I think, in Canada, you have a middle ground between what you find in the U.S. and Europe in terms of mindset, entrepreneurial grind, great technologies, and government support." He commended the entrepreneurial spirit and open-mindedness in Canada, making it a welcoming destination for both French and Canadian entrepreneurs.

In a conversation with Samuel (Sam) Mugel, CTO at Multiverse Computing, I uncovered the intriguing world of quantum computing and the rapid evolution it has undergone. Sam emphasized, "Quantum computing was really a lab curiosity... and by the time I finished in 2017, it had really evolved into something that everyone was talking about." His personal journey from starting a PhD in Ultra Cold Atoms in 2013 to witnessing quantum computing's meteoric rise in relevance was truly inspiring. At the French Tech America Summit hosted on May 18th, 2023 at the Royal Ontario Museum (themes were ESG and Quantum Computing), Sam discussed the significance of Multiverse Computing's keynote on Near Intermediate Error-prone Quantum Computing (NISQ), raising an important question to all that were in attendance, "We have these machines now. What can we do with them that adds value to the industry?" The event brought together industry giants, including Xanadu, OVHcloud, and Creative Destruction Lab, to explore how deep tech machines like quantum computers are revolutionizing various sectors. Multiverse Computing's involvement with La French Tech reaffirms its commitment to engaging with the French ecosystem, which is at the forefront of quantum computing. The partnership with France ensures that Multiverse Computing remains a pioneer in this transformative field.

Stephanie Veyrun-Manetti, General Manager Specialty Care and Country Lead at Sanofi, shared her enduring commitment to Sanofi and its purpose-driven work in healthcare. Stephanie explained how Sanofi adapts to the evolving healthcare landscape, focusing on innovation and digital advancements, stating, "The progress we've made in artificial intelligence and data democratization has been a game changer." She discussed the intersection between healthcare and the French tech community, emphasizing the role of data and collaboration with innovative startups. When asked about it, she said, "Making this connection and having this ongoing conversation with French tech and all the innovative companies is critical to move forward." Stephanie highlighted the value of data and the insights it provides, and concluded by discussing Sanofi's state-of-the-art research and development facilities in Canada.