PARIS — From Shenzhen to New York and Silicon Valley, technology incubators are popping up, providing affordable space for dreamers and entrepreneurs to build and nurture startups.
Among these nurseries, Station F — which opened in Paris earlier this month as the world’s largest startup campus — might be the epitome, in terms of size, amenities, perks, and a built-in ecosystem compatible with innovation.
Entrance to Station F (photo: EE Times)
A brainchild of French billionaire Xavier Niel, Station F, converted from an abandoned train depot, is designed to house 1,000 startups. The re-architected building, about 34,000 square meters, maintains the original concrete structure, offering an airy, modern, and open work space.
But what makes this place unique is the entrepreneurs — both French and non-French — in residence. They come from diverse backgrounds, bringing their ideas and startups focused on a variety of technology/business disciplines aimed at different market segments.
A desk at Station F costs 195 euros a month (comparable to the rent for a garage in Sunnyvale in 1970). Entrepreneurs, however, move in not for cheap office space but for Station F’s prestige. The joint is selective. To get a coveted full-time desk space, applicants with early-stage startups must be vetted by Station F’s highly choosy and technology-savvy selection board.
Station F is still in its first month, with 500 startups already installed. Another 500 applicants are scheduled to fill all the openings by year’s end.
Of the 1,000 startups, 200 were selected by Station F’s internal “Founders Program.” The rest are filled by startup programs created by Station F partners, who include Microsoft, Facebook, Zendesk, Ubisoft, and Thales. Each of these corporations runs its own accelerator program at Station F.
EE Times visited Station F this week, took a tour and sat down with several entrepreneurs to discuss their technologies and businesses, and asked why they decided to work at Station F.
Crème de la crème Those who work under Station F’s Founders Program know that they are the select few (200) among 2,300 startups who applied.
How did they end up here?
Jeremie Toledano, COO of Self-Med, said, “We have no idea how they selected us, but we know Station F’s selection board has been looking for diversities in technologies, industry/market segments, and various business development phased [that] each startup is in.”
Jeremie Tolendano, COO of Self-Med (photo: EE Times)
Toledano’s startup, Self-Med, offers a platform that fully automates in real time the accounting needs of healthcare professionals.
According to Toledano, Station F has created “guilds” — groups consisting of roughly 20 startups. The grouping — among the 200 Founders Program startups — isn’t random. Station F emphasizes bringing diversity in each guild.
Self-Med, for example, has raised 500,000 euros thus far. Noting that all of the startups working at Station F are in “early-stage,” Toledano explained that Self-Med’s funding put it into a unique position because it has something to share with other early-stage startups in its group.
What was the selection process like?
First, you must have all the numbers — KPI (key performance indicators) — of your startup in order. You submit online first. Then you are asked to participate in a live interview — 30 seconds — in front of a camera, said Toledano. Like an elevator pitch? “Yes. But this was tough.”
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