An economy focused on the future Excluding Covid, 2020 was also: According to 82% of American investors, the Once again this year, American investors’ perception of the French innovation ecosystem is positive 2020 showed a pause in the governmental election of President Biden will have a positive (for 86% of respondents) or very positive. In particular, investors praise the workforce qualification, reforms governments. In this context, investors impact on transatlantic relations. However, government’s support for the new economy and IT infrastructure, which are respectively cited as fear that the reforms needed to boost France’s they believe that this event will have less France strengths by 81%, 57% and 48%. Concerning access to capital and financing, they frequently attractiveness could be postponed, or even impact on their investments than the Green mention the relatively easy access to initial financing (Seed and Series A) but the difficulties cancelled. 71% of them still have a positive Deal and than Brexit (especially), which will encountered in financing scale-ups, a field in which the United States, on the other hand, excels. perception of these reforms, but it is 15 points have a strong or very strong impact for 35% of less than in 2019. On France’s competitiveness investors against 9% for the election of Biden. and the economic situation, the positive What is your general per- In your opinion, when you consider investing, what are France’s perception respectively loses 10 and 17 points In your opinion, what impact will the election th ception on the innovation strengths and weaknesses in terms of innovation & digitalization? to reach 64% and 61%. These figures, even if of Joe Biden as the 46 President of the ecosystem in France? they remain good, should alert the government United States have on transatlantic relations? on investors’ expectations for the country to 4% 3% 7% 7% continue implementing the reforms. 11% 16% 25% 22% 28% 14% 37% 45% 49% The pause in reforms also marks a slight relief 39% 46% in the social climate in France, but it is still 41% negatively perceived by 57% of investors. 81% 62% 66% 57% 48% 44% 37% 32% 31% What is your assessment of the reforms Don’t know 7% implemented since President Emmanuel Workforce IT Access to capital Innovative and Macron’s election? Neutral Very negative qualification infrastructures and funding flexible legal 20% Positive Negative framework 3% 3% 3% 3% Very positive Neutral State support Entrepreneurial Strong digital 9% 8% 5% 11% 2020 20% Positive to the new economy spirit penetration within 13% Very positive companies and households 24% 2020 22% 26% Strength Neutral Weakness To what extent each of the following events 46% 42% will impact your investment strategies in Another key topic for In your opinion, does France offer a supportive regulatory Europe? the future, CSR, is at the framework to private companies’ social and environmental 52% forefront of France’s strategy, commmitment? 55% 50% 13% 11% since nearly 70% of investors 28% 29% 4% 33% consider the regulatory 18% 23% framework to be conducive 24% 19% 9% 11% 11% to companies’ social and 5% environmental commitment, Foreign France Economic Franco- Social 27% investment competi- situation American climate but still deplores the in France tiveness in France relations in France 34% lack of predictability of in general 40% environmental legislation. 50% Positive perception 71% 64% 61% 38% 13% Don’t know 2020 Not at all Not supportive at all Evolution 34% Not really Not supportive vs. 2019 28% 20% Neutral Neutral Positive Strongly 8% Supportive perception 86% 74% 78% 31% 12% 18% 2019 7% 7% 7% Very strongly Very supportive Very positive Positive Neutral Brexit The Green Joe Biden's 2020 Negative Very negative Don’t know deal election st st 16 21 edition AmCham-Bain Barometer 21 edition AmCham-Bain Barometer 17