Plans have been unveiled by the Journal du Net this week, that France has started construction work to create a 323,000-square-foot business startup incubator space that will be capable of housing at two 1000 start-up companies.
The new start-up incubator space that will be located in a railway building which was first constructed way back in the 1920’s and is located within the country capital, Paris, bringing new life to the old building once again.
The French government will be underwriting 10% of the costs for the development and is hoping that the size of the project will help invest more interest into the country’s international digital reputation. Watch the video below to learn more about the interesting development which sounds perfect for start-ups to develop their new technology, concepts and ideas.
The cost of the project is thought to be in the region of $190-million and is being lead by French entrepreneur Xavier Niel. Previously Niel founded Iliad SA, a broadband and wireless company that offers low-cost and free services.
There project will be completed in 2017 and earlier this week French president François Hollande lay the first ceremonial stone brick to mark the commencing of the the incubator renovation project.
Source: Journal du Net