This week, French Tech, an organization dedicated to promoting innovation and technology in France, introduced its second global competition, with the goal of bringing the best tech entrepreneurs to France.

The competition is called French Tech Ticket, and it is offered to non-French entrepreneurs from across the globe that might be interested in living in France for a year, with the purpose of developing a startup there.

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Winners of this awesome contest will earn more than $50,000 in cash, a permit to reside in France, along with three co-workers, a year-long incubation period in one of France’s best incubators and several additional prizes such as mentoring and special events, business support and investor meetings.

Last year, there were 722 projects turned in by a total of 1,372 contestants.  The result of this first contest was 23 startups, with 50 entrepreneurs moving to Paris to enter one of French Tech Ticket’s 10 partner incubators.

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The competition is open to any team with its own startup project or co-founders of startups that meet the contest criteria.

Each team must consist of two to three English-speaking founders, with no more than one French national.  The founders must hold at least half of their company’s share capital, if applicable. They must be based in France for at least a year, after selection, with an obligation to work fully on the project in the partner incubator.

The startups can be any young creative company, technology-based or not, that seeks a business model that will provide very large and speedy growth.

French Tech was established in 2013 to help grow the technology and innovation ecosystem in France, and to offer France the best conditions for cultivating startups and innovation. With its establishment, the amount of capital earned for startups doubled from 2014 to 2015, and many French companies have been given more than $100 million in funding.