Facebook gave the French tech scene a vote of confidence on Tuesday by picking Paris as the location for its first start-ups incubator, a boost for the city as European capitals compete to attract firms post-Brexit. Facebook's own project, dubbed a "startup garage", will provide 80 desk and working spaces for up to 15 start-ups working on data mining, which will be coached by Facebook specialists for periods of six months. It is Facebook's second major investment in Paris after it opened its only European artificial intelligence research lab in the city in 2015. A generous research and development tax credit, an active public investment bank and a large pool of engineers have helped boost the French tech sector, keeping Paris hot on the heels of other major European tech hubs such as London and Berlin. French start-ups, however, have so far struggled to reach a critical size or remain independent.

Source: dna January 18, 2017 05:37 UTC