France plans 1.8 bln euro support for cloud computing industry – Reuters

FILE PHOTO:French Junior Minister for Digital Transition and Electronic Communication Cedric O delivers a speech during a news conference on the new anti-coronavirus disease (COVID-19) measures, at the Hotel Matignon in Paris, France October 22, 2020. Ludovic Marin/Pool via REUTERS
PARIS, Nov 2 (Reuters) – France announced on Tuesday a 1.8 billion euro ($2.1 billion) support plan for the country's cloud computing industry in a bid to give French companies in the sector global scale.
The plan consists of 667 million euros of public financing, 444 million of European Union financing and 680 million euros of private co-financing, the government said in a statement.
The government said 23 research and development projects had already selected, which would receive a total of 421 million euros of public financing.
"Today we implement a long-held ambition: to bring about the emergence of French and European industrial champions," Minister for Digital Affairs Cedric O said in a statement, adding that by 2025 close to two billion euros would be mobilised for the sector.
O announced the initiative in the offices of French cloud computing firm OVHcloud (OVH.PA), which went public last month after becoming one of the world's top ten players in the industry. read more
Some French policymakers hope OVHcloud – the biggest European-based cloud services provider – could offer an alternative to U.S. giants Amazon Web Services (AMZN.O), Microsoft's Azure (MSFT.O) and Google Cloud (GOOGL.O), which dominate the market.
Early in October, French defence company Thales (TCFP.PA) annouced a partnership with Google to offer state-vetted cloud computing services for the storage of some of France's most sensitive data. read more
($1 = 0.8627 euros)
Our Standards: The Thomson Reuters Trust Principles.
Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Information, analytics and exclusive news on financial markets – delivered in an intuitive desktop and mobile interface.
Access to real-time, reference, and non-real time data in the cloud to power your enterprise.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2021 Reuters. All rights reserved

source