Programme d'Investissements d'Avenir

The Programme d'Investissements d'Avenir (PIA), or Investments for the Future Program, is a French state initiative launched in 2010 to finance innovative and promising investments within France to increase the country's growth and employment potential. Piloted by the Secrétariat général pour l'investissement (SGPI) under the authority of the Prime Minister, the program supports the entire innovation lifecycle, from research to market launch, often co-financing projects with private partners. The program has been deployed in four successive waves (PIA 1, 2, 3, and 4), with a total allocated budget of €77 billion. Key operators that manage and deploy the funds include Bpifrance and ADEME. The latest phase, PIA 4, is now part of the broader 'France 2030' plan, which continues and expands upon the PIA's objectives with a €54 billion envelope.