According to a Web Summit x Crunchbase report, AI startups participating in the 2023 summit collectively raised $72.6 million. This year, 43 percent of surveyed investors identified AI and machine learning as pivotal technologies for the coming decade.
Web Summit founder Paddy Cosgrave highlighted the event’s growth, stating, “With over 3,000 exhibiting companies and thousands of meetups, we’re thrilled to see the appetite for innovation stronger than ever.”
Women in tech at the forefront
This year’s event saw the highest proportion of women-founded startups, at 44 percent. Women represented 42 percent of attendees and 37 percent of speakers. The annual Women in Tech report noted challenges in achieving gender parity in leadership and pay across the industry. Attendees discussed ongoing efforts to address these issues, with many events spotlighting women’s achievements in technology.
Global representation and trade delegations
Sixty-two trade delegations from 36 countries participated, with Germany and Brazil sending the largest contingents. Ukraine’s delegation hosted 24 startups, focusing on the intersection of technology and crisis resilience. Qatar, Brazil, and Ireland were among the countries showcasing innovative startups in dedicated pavilions.
The investor community also saw a strong presence, with 1,066 investors from 58 countries managing $14.7 trillion in assets under management. Key firms included Khosla Ventures, Northzone, and 500 Global. Investor-to-startup and investor-to-investor meetings were a core feature of the event, alongside mentoring sessions for early-stage entrepreneurs.
Major speakers and partnerships
Speakers ranged from Pharrell Williams, discussing commerce and creativity, to Sir Tim Berners-Lee, reflecting on the evolution of the internet. Other prominent speakers included Brad Smith, President of Microsoft, and Rúben Dias, a Premier League and Champions League footballer. Media partners included The Washington Post, CNBC, and Fortune, with 2,005 journalists covering the summit.
Corporate partners such as IBM, Adobe, Meta, Huawei, SAP, and Qualcomm had a strong presence. Sustainability-focused organisations, including Re:wild and the World Climate Foundation, contributed to discussions on climate action and education.
Building communities and connections
The proprietary Summit Engine software facilitated 250 curated meetups, connecting participants through shared interests. Topics included clean technology, fashion technology, and space innovation. The Night Summit provided further networking opportunities across Lisbon’s nightlife districts, fostering informal connections among attendees.
Intuitivo wins PITCH competition
Porto-based education technology startup Intuitivo won the Web Summit PITCH competition, selected from 105 startups. Intuitivo’s platform automates assessment creation and grading, serving over 35,000 teachers and 300,000 students globally. Co-founder João Guimarães emphasised the visibility gained from participating, saying, “For us to appear in the news is amazing. We’ve met co-founders and judges from around the world.”
Broader impact and trends
Sustainability was a key theme, with 20 percent of startups aligned with the UN Sustainable Development Goals. Impact investors focused on areas such as agritech and renewable energy. The Food Summit and Wine Summit showcased Portuguese culture, offering local flavours and industry insights to attendees.
Since its inception in Dublin in 2009 with 150 participants, Web Summit has grown into a global series of events. Future editions include Web Summit Rio and the inaugural Web Summit Vancouver in May 2025.
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