Station F: the world’s biggest Startup incubator

How a once abandoned Rail depot in Paris is now supercharging the French Startup ecosystem

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In this week’s edition of Startup Vagabond we are talking about Station F, the World's largest startup campus. Which is home to over 1,000 startups, 30+ programs and an incredible suite of services to support Entrepreneurs in the Parisian Tech & Innovation ecosystem.

I had the pleasure of visiting Station F last July, as part of a Global Victoria delegation, with a group of Australian Founders to France’s biggest Innovation event “VivaTech”.

I was blown away by the scale of the project and the impact it was having on the growth of French Startups.

I’ve been sitting on writing this piece for some time, so here goes, I hope you enjoy it!

Travel safe!

Dickie

From the rubble to the Ritz

“It’s not a co-working space, but more of a university for entrepreneurship”.

So explained Marwan Elfitesse, the Head of Startup Programs & Business Services at Station F and our tour guide for the afternoon.?

Staring out at the sea of Founders, Operators and Investors that were buzzing around this abandoned Rail depot that is now the focal point of the burgeoning French Tech ecosystem, it was hard to disagree.

But that wasn’t always the case.

Originally the building was a railway freight terminal called La Halle Freyssinet, named after structural and civil engineer Eugène Freyssinet, who designed it in the 1920’s. After it ceased to be used as a freight terminal, there were times when it might have been demolished but the structure is now protected as a national monument.

I like to think that this magnificent building was always destined for greatness.

Its designer Freyssinet was himself a Disruptor, employing many techniques that were viewed as innovative in his day in its construction.?

It's only fitting then that its legacy of pioneer-ship lives on as the beating heart of French Innovation.

The stats don’t lie

Looking at the numbers of what the historic walls of Station F now play host to, shows the staggering scale of the project’s ambition:

• A 54,000–square-footage space which includes co-working spaces, on-site accommodation for 600 people and even a restaurant with the most incredible static food trucks

• More than 1,000 startups at any one time with companies having a maximum 2 year occupancy, forcing them to have a sense of urgency while they grow

• Over 30 programs, which are compulsory for residency, covering nearly every Startup vertical (at my time of visiting a new FemTech program had just launched)

• With Tech Giants including Amazon, Google and Apple all having in-house offices to provide Startups with IRL Office Hours

And it’s clearly working…

Back in 2017, when it was opened by then President Macron,? the ambition was for France to have 25 home-grown “unicorns,” (startups with valuations of $1 billion or more) by 2025, a number which was reached 3 years early.

The economic impact is clear to see

With 1 in 13 of the funding deals across the growing French Startup ecosystem happening at Station F and a recorded alumni of over 6000 companies with a combined valuation of $1 billion euros, at the time of writing.?

This has lifted the Paris Startup ecosystem to a position of 18th worldwide, according to Startup Genome’s 2023 Ecosystem report.

Ahead of established ecosystems like Bengaleru, India and my very own Sydney, Australia.

Though the impact isn’t just targeted to French Founders. With a third of the Startups accepted coming from outside of France.?

This is supported by free rent at the coliving space and a fast track process to help with business visas.? With the top 3 International countries represented being:

1. United States of America
2. United Kingdom?
3. Morocco

Importantly about 40% of the companies that call Station F home were founded by women, which is way above the global average.

Station F is working hard to encourage and support female startup founders and I’m glad to see that!

Station F is the brainchild of French billionaire and entrepreneur Xavier Niel, who made his fortune in the telecommunications and technology industry, as the Founder and majority shareholder of the French Internet service provider and mobile operator Iliad trading under the Free brand (France's second-largest ISP, and third mobile operator).

He is also the co-owner of the newspaper Le Monde,? co-owner of the rights of the song "My Way" and owner of Monaco Telecom, Salt Mobile and Eir.

Station F is his way of creating a space for the future innovators of tomorrow while paying homage to an innovator of the past.??

Which is exactly how I’d spent my billions too if I had such a dilemma!?

Let’s hope there are more Xavier Niel’s out there, to keep investing in entrepreneurship across the world.

Meanwhile if you’re ever in Paris, please go check out Station F. Just be sure to go hungry!

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In the next edition we’ll be talking about South Korea. A country with one foot in the future and one in the past.

How the East Asian Nation has ambitions of being a Global Innovation superpower but a paradoxical local culture that’s holding it back.

See you on the next adventure!

Dickie