The French government has released an additional $21.5m in funding to the tech transfer office, which concurrently restructured its shareholding structure.
Satt Paris-Saclay, a member of France’s tech transfer network Réseau Satt, today received a third tranche in funding worth €18.2m ($21.5m) from the government without a probationary period.
The additional financing marks a 15% increase on the original plan for the TTO over the 2014-2022. The money was unlocked in June 2020 following Satt Paris-Saclay’s demonstration of its market pull with industry and building a portfolio of deeptech spinouts.
Concurrently with the funding, Satt Paris-Saclay has restructured its shareholding. Following the dissolution of the Foundation for Scientific Cooperation earlier this month, three new shareholders have taken its place: Paris-Saclay University (with a 33% stake), Paris Polytechnic Institute (15%) and CNRS (19%).
French government-owned investment bank Bpifrance owns a 33% stake in the TTO.