Web Summit: Inside the World's Largest Tech Meetup

In Lisbon's Altice Arena and FIL, the air buzzed with an electric energy. This was Web Summit 2023, a gathering of aspirations, ideas, and innovations. With a record-breaking attendance of a whopping 70,236 attendees, from across 153 countries, this was a melting pot of global perspectives, united by the common language of technology and ambition.

Web Summit's ethos has always been to foster connections that matter – between CEOs, founders, investors, and even cultural figureheads. This ethos was not lost on me as I navigated through the crowd, witnessing firsthand the vibrant diversity of participants. Europeans mingled with Brazilians, echoing the deep-rooted ties between Brazil and Portugal. The atmosphere was charged with excitement, a testament to the summit's ability to draw people from every corner of the world into a single, dynamic space.

Startups, particularly those in their infancy, found themselves in a fertile ground for growth. I met founders of fintech startups who were new to the world of finance – for them, Web Summit was not just an event but an invaluable networking platform.

But it wasn't all business. The Web Nights, known for their allure, lived up to their reputation, offering a cultural smorgasbord that mirrored the diversity of the summit's attendees. Here, the narrative of technology intertwined with that of cultural exchange, creating a unique tapestry that highlighted the global nature of the tech industry.

The figures speak for themselves – 43% of attendees were women, a significant representation in an industry often critiqued for its gender disparity. The startups were no less impressive, with nearly a third founded by women, signalling a promising shift towards inclusivity in the tech world.

Katherine Maher, CEO of Web Summit, captured the essence of the event in her opening address. She spoke of Web Summit as a catalyst for change, a place where technology, society, and innovation converge to shape the future. With 2,608 startups from 93 countries showcasing their ideas, the event was less about what technology can do and more about what we, as a collective of diverse, driven individuals, can do with technology.

The first day of Web Summit 2023 was an electrifying start to the event. The focus was on AI, but not just its technological marvels. Ethical considerations took centre stage, with Meredith Whittaker, president of Signal and an ethical AI researcher, leading the conversation. She challenged the narrative of AI as a job replacer, highlighting how it's being used to downgrade working conditions under the guise of technological advancement. This critical view of AI's impact on the workforce set a thought-provoking tone for the day.

Albert Wenger of Union Square Ventures offered a counterpoint, envisioning AI as a liberator from mundane labor. His optimistic perspective provided a balance to the discussions, suggesting a future where AI enhances rather than diminishes human potential.

The concept of 'centaurs', startups with revenues over $100 million, was another highlight. These companies, unlike the mythical 'unicorns', represent a new focus on sustainable profitability over mere growth potential, reshaping investor priorities in the tech landscape.

Gender equality in tech was another focal point, with Clara Chappaz of La French Tech urging for more male participation in discussions about gender equality in the industry. Her insights into the underrepresentation of women in tech were both sobering and a call to action.

Day 2 shifted gears towards the human aspect of tech entrepreneurship. The mental health of startup founders was a central theme, with Vera Baker of Unconventional Ventures emphasizing the need for VC support in this area. The discussion was a poignant reminder of the often-overlooked personal struggles behind the startup success stories.

Tilo Bonow, founder and CEO of Piabo Communications, highlighted the power of storytelling in branding and investment. He underscored the importance of trust in both consumer and investor relationships, framing storytelling as a key component in building this trust.

The final day was a blend of hope and caution. Melanie Nakagawa of Microsoft spoke about AI's potential in combating the climate crisis, despite its high energy demands. Her vision of AI as a tool for environmental sustainability was a beacon of hope amidst the looming climate challenges.

The climax of the event was the PITCH competition, with São Paulo-based Inspira emerging as the winner. Their aim to democratize legal information underscored the summit's theme of technology as a force for good.

Reflecting on Web Summit 2023, I’m struck by the role of the founder in the tech landscape. Founders are architects of a future that is yet to be defined. As they weave their visions into the fabric of our society, their choices will dictate not just the success of their startups, but the shape of our collective tomorrow. In this context, every line of code, every pitch, and every investment is more than a business decision—it's a stroke on the canvas of the future.

Images courtesy of: Victoria Kather

‍