Open Inno: collective power in the service of large group innovation
Large groups are constantly asking the changes needed to sustain and grow their business: what needs to be accelerated? what new things? which new technologies to rely on? Proximity to the Tech ecosystem is essential to help them answer these questions.
In the case of the FDJ group, the Open Inno approach was initiated in 2015. “This is to identify new trends early and have privileged access to relevant startups and integrate their solutions into our offers, paths and services” explains Maxime Sbeghen, Head of Startups and Innovation Partnerships at FDJ. Since 2015, the French leader in gambling has forged many Open Inno partnerships: Venture Capital funds, start-up accelerators, associations, think tanks and even academic partners. “Thanks to them, we identify 1,000 new startups every year, study 500 in detail, conduct experiments on 20 and invest in 5 to 7 of them” said Maxime Sbeghen.
The Partech fund is one of these partners and is examining the market for relevant startups to be featured here. Romain Lavault, General Partner at Partech adds to the need for this relationship: “ Big groups and startups don’t have the same rhythm, don’t have the same heartbeat. Startups have flexibility that large groups do not have, while large groups have the expertise, market knowledge, a reservoir of data and funding capacity that start-ups need. “.
But radical technological change, an innovative ecosystem that shines and can rely on a consciousness shared by all its parts, sometimes requires an adaptation that almost approaches a paradigm shift for large groups. Romain Lavault elaborates: ” The next step is for large groups to adopt a Venture Capital posture, accepting that not everything works, but focusing on the fact that 3 out of 10 startups that will work will more than pay for those with less market . »
“Winning French Tech”: an explicit slogan
This proximity between start-ups and large groups does not only benefit the latter. A close relationship between startups and large groups is essential to the development of French Tech. For two main reasons: Large groups are natural customers for startups in this ecosystem. They contribute to its influence, by setting up partnerships, or sometimes by funding them. says Maya Noël, Managing Director of France Digitale, with which FDJ has been a partner since 2017. “Helping FDJ win while helping French Tech win”, such is the ambition shown by FDJ for its Open Inno approach. It reflects the Group’s raison d’être and its commitment to contribute to society. This slogan is the Tech version of the Group’s famous slogan: “And see France win”. Thus, through its Open Inno approach, FDJ supports, directly or indirectly, more than 300 French or European startups, including 16 from La French Tech 120. “Our contribution to the development of French Tech takes many forms” said Maxime Sbeghen.
First of all, FDJ committed more than 80 million euros in Venture Capital financing start-ups based in France or Europe. In addition, the Group’s twenty Open Inno partners are French players who support the national Tech ecosystem on a daily basis.
In addition, more than 90% of the start-ups that benefit from “FDJ for Startups”, the support system of the Group, are French. Like the great stories FDJ has with French startups PandaScore, Yogosha or Jam.gg. Regarding the latter, FDJ’s investment even contributed to the repatriation to France of this startup founded by 2 French people in Silicon Valley.
FDJ is also participating in the emergence of the French Web3 ecosystem. Regarding metaverses, FDJ participated in the financing of Darewise, a French metaverse video game publisher in 2019. LifeBeyond, and will build on the experiments of startup BEM Builders within the plot of FDJ within the metaverse The Sandbox, created by Frenchman Sébastien Borget. Regarding NFTs (Non Fungible Tokens), FDJ is co-developing games based on NFTs with Cometh, a French startup in which it participated in financing.
FDJ also supports Tech training, through its partnership with the Web School Factory, a school that trains France’s future digital managers.
Known for its commitments in favor of diversity, FDJ is multiplying initiatives to bring out women in French Tech, such as its partnerships this year with Sista Entrepreneures and Sista Fund.
Finally, the Group is participating in France’s private equity dynamism by offering exit opportunities to French startups, as illustrated by its recent acquisition of Bordeaux startup L’Addition.
Tricolor Tech is really popular.
Find the team’s video interview below Startups and Innovation Partnerships of the FDJ group.