One of the most anticipated announcements at VivaTech, the launch marks the third phase of the Tibi Initiative, named after economist Philippe Tibi, who originally designed the mechanism in 2019 to direct long-term savings toward French and European technology companies.
For this new phase, €13 billion has already been secured from institutional investors, including bancassurance groups, insurance companies, mutual insurers, and other major holders of long-term capital. The French government aims to increase that figure to €15 billion by year-end.
According to the Ministry of the Economy, nearly €31 billion will have been mobilized through the Tibi Initiative since 2020, with almost €16 billion already invested as of March 31.
Channeling Savings Toward Breakthrough Technologies
The principle behind the initiative remains unchanged: institutional investors do not invest directly in startups and technology companies. Instead, they commit capital to specialized investment funds, which then deploy the money across the innovation ecosystem.
However, this third phase introduces a more strategic focus.
According to the Ministry, 50% of future investments will be directed toward deeptech, critical infrastructure, and dual-use technologies. Priority sectors include:
- Artificial intelligence
- Quantum technologies
- Biotechnology
- Space technologies
- Defense-related innovation
- Industrial sovereignty technologies
Around forty partner investors are participating in this latest phase. New entrants include the mutual insurance group Carac, as well as SNCF, RATP, and Eutelsat.
Technological Sovereignty at the Center of VivaTech
The announcement comes at a time when European technological sovereignty has become a major strategic concern.
Throughout VivaTech, discussions repeatedly focused on Europe’s ability to remain competitive amid growing rivalry with the United States and China, while reducing dependence on foreign technology platforms.
Those concerns intensified following the recent decision by the U.S. administration to require Anthropic to restrict foreign nationals’ access to its most advanced artificial intelligence models. The move reignited debate over Europe’s capacity to finance, develop, and control its own technological infrastructure.
In the Ministry’s statement, Economy Minister Roland Lescure said the initiative demonstrates Europe’s collective ability to direct large volumes of savings toward innovation and breakthrough technologies in support of economic and industrial sovereignty.
A Stronger European Ambition
Beyond France, this third phase is also intended to support a broader European strategy.
The Ministry hopes to encourage the emergence of pan-European investment funds capable of reaching global scale and providing long-term financing for technology companies during their growth stages.
The challenge is well known: Europe has no shortage of talent, research institutions, startups, or industrial champions, yet it still struggles to create investment funds large enough to support technology leaders throughout their development.
At VivaTech, Lutz Diederichs, CEO of BNP Paribas Germany, noted that hundreds of billions of euros remain idle in German current and savings accounts rather than being invested in equities, bonds, or future-oriented projects.
One of Tibi’s central objectives is precisely to mobilize this available savings pool to finance innovation, reducing European technology companies’ reliance on foreign capital as they scale.
Turning Commitments into Investment
With this third phase, the French government aims to accelerate the momentum behind Europe’s technology financing ecosystem.
The next challenge will be transforming these commitments into concrete investments and demonstrating that European institutional savings can become a genuine driver of technological power, innovation, and long-term competitiveness.
