France Plans Establishes a Startup Hub to Mentor Business Owners

France has taken its entrepreneurship mentorship efforts to another level. It is launching a startup hub, expected to be the largest one in the world. The campus already exists and it’s referred to as Station F. Previously called the Freight Hall Halle Freyssinet, the space is located in Paris at a railway depot. France intends to use Station F to help entrepreneurs from underprivileged backgrounds. The space has 3,000 desks. It covers an area of around 366,000ft2. Those using the space will have access to 8 event halls, a bar and restaurant.

Station F is part of the French government’s efforts of fostering homegrown business. The space will be home to 26 international programs. France has already made plans to build more housing units around the campus. The new residential houses will accommodate those undergoing different programs at the startup incubation center. France wants to establish a tech incubation culture similar to the Silicon Valley of California. The government has partnered with French entrepreneur Xavier Niel to build Station F. Mr. Niel has already put in a quarter billion pounds into the project.

The startup campus is offering two programs: The Fighters Program and Founders Program. The Fighters Program is free for those accepted into the institution. On the other hand, The Founders Program charges a monthly fee of around $200 a desk. More than 200 startups have already enrolled for the Founders Program. The majority of programs at Station F are offered by big tech firms like Microsoft.

The Fighters Program was introduced for aggressive entrepreneurs with limited resources. The businesspeople accepted into this program include refugees, immigrants as well as entrepreneurs from French suburbs. According to Station F’s website, anyone can start a company as long as they can take the initiative to do so. The startup hub will change many lives and boost entrepreneurship in France.

Startups Following This Model Can Succeed

A common criticism about startup companies is that they are far too risky to begin and far too poor an investment for outside capital. Companies that are just beginning are often touted as only having a one in ten chance of still being around after a few years. No one knows the perfect formula of things to do in order to be a successful business. But one thing we can do is look at all of the startups that have succeeded as of late and notice some very common characteristics between all of them. This is by no means a guarantee that your business will succeed but it certainly is comforting to know that your doing everything possible to mirror the most successful businesses around.
A recent article claims that there are six main characteristics that successful startups tend to have in common. The first is seed money from well established companies such as Google or Oracle. The second is a partnership with Universities all around the globe. The remaining four characteristics include human capital, investment capital, mentoring and values. One reoccurring thing in successful startups is capital capital capital. Very infrequently do startup companies with a low total capital value mature into adulthood. Partnerships with Universities usually aid in developing a new research method or help the company get over an issue with creating a prototype that they could not have otherwise created on their own. The final two characteristics, mentoring and values, often come as package deals associated with garnering capital and a relationship with a University. As more people come into your inner circle you will have more mentors at your disposal and if these people have been in your respective industry for a long time, will undoubtedly have the values to make your startup business succeed.