Paris is on the verge of fulfilling its dreams of becoming the tech hub of Europe with the inauguration of Station F in Paris’s 13th arrondissement. Stated to be the largest start-up incubator in the world, it is financially backed by Xavier Neil, who is a multi-billionaire that dramatically transformed the internet and mobile industry of France with his low-cost telecommunication services.
Based at a former railway depot, the 34,000-square-meter incubator was inaugurated by President Emmanuel Macron and is billed to accommodate more than 1,000 startups. Some of the leading tech giants in the world like Facebook and Amazon are backing this development and Microsoft is slated to start its newest Artificial Intelligence startup at this location. Other companies like gaming giant Ubisoft and social messaging application Line, will also be seen housing their activities at Station F.
The initial idea behind Station F was to create an enormous incubator, but as the days went by, it transformed into a bigger idea by converting the space with various startup programs, events, and services. To make this idea into a success, Xavier Neil himself invested 250 million euros in the project.
The location of the incubator has been constructed and designed to invoke the feeling of an American college campus. The space is divided into three different areas i.e., “create”, “share” and “chill” and startups are paying a $221 monthly for a spot in the incubator. The size of the space has earned it the title of Europe’s technology leader, slowly inching ahead of tech capitals like London and Berlin.
French president has been extremely passionate about this development and wants to promote emerging entrepreneurs from across the globe with its inception. Currently, London is the go-to place for most international startups to house their programs but with the inauguration of Station F, the pendulum is tilting towards Paris.