In the early 1990s French officials viewed with some concern the emerging and innovative hightechnology sectors of the U.S. and British marketplace. Fearful of falling too far behind the French government implemented a vast array of policiesamp151from tax incentives for investing in risky hightech startups to new standards for electronic signaturesamp151designed to promote the commercialization of new economy technologies in France. The efforts have turned French innovation policy on its head. Traditional government and bankfinanced research and development were replaced by private venture capital. Professionals in Franceampaposs technical eliteamp151long accustomed to a secure career track in prestigious laboratories and industrial conglomeratesamp151began moving into risky entrepreneurial ventures. New technologies once developed exclusively by Franceampaposs national champions of the marketplace such as Ariane Airbus and Renault began to be commercialized by technology startups. Efforts to promote the new economy however have proved politically and socially contentious. Many French policymakers and public intellectuals fear that regulatory liberalization might threaten or undermine state sovereignty. Gunnar Trumbull investigates Franceampaposs experience in adapting to the requirements of innovation in the new information and communications technology ICT sectors by focusing on events over a sixyear period from 1996 to 2002. This short stretch of time proved a crucible for French leaders and businesspeople it saw dramatic efforts at regulatory reform a boom in technology startups venture capital and initial public offerings the spread of the Internet and then a collapse in the Internet market accompanied by a broader economic decline. The new challenges of the ICT revolution were confronted and new policies and practices were tested and stressed. The author describes Franceampaposs new technology policy as both boldly new and familiarly French. He commends the Fr