France to set up industrial innovation agency

French plans to stimulate ‘national champions’ through state
intervention are part of a growing European debate on the future of
industrial policy.

Jean-Louis Beffa, chairman of French glassmaker Saint Gobain,
presented some key recommendations of a report for a new
French industrial policy on 5 January 2004. The report was
commissioned by the Raffarin government and produced by a working
group consisting of high-level economists, union leaders and
business CEOs. It will be officially presented to French
President Chirac on 15 January.

The main recommendation of the report is the establishment of an
industrial innovation agency that should fund large ‘national
champions’ in innovative areas such as nanotechnology,
biotechnology or renewable energies. 

France would be willing to invest 1 billion euros (revenue from
privatisations) into innovative research projects undertaken by its
big industries. The agency funds would also be open to other
European companies.

The French plans to to stimulate big innovative industrial
projects are part of a renewed European debate on national or
European industrial ‘champions’. A few months ago, France and
Germany clashed over state aid to the ailing French industry giant
Alstom. 

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