The plan includes € 667 million in public funding, € 444 million in European Union funding and € 680 million in private co-financing, the government said in a statement.
The government said 23 research and development projects had already been selected, which would benefit a total of 421 million euros in public funding.
“Today, we are implementing a long-standing ambition: to bring out French and European industrial champions,” said Minister of Digital Cédric O in a press release, specifying that by 2025 nearly two billion euros would be mobilized for the sector.
O announced the initiative at the offices of French cloud computing company OVHcloud, which went public last month after becoming one of the top ten global players in the industry.
Some French policymakers are hoping that OVHcloud – the largest cloud service provider based in Europe – could offer an alternative to the US giants Amazon Web Services, Microsoft Azure and Google Cloud, which dominate the market.
In early October, French defense firm Thales announced a partnership with Google to offer state-approved cloud computing services for the storage of some of France’s most sensitive data.
(1 $ = 0,8627 euros)
(Reporting by Marc Angrand; Writing by GV De Clercq; Editing by Mark Potter)