Lisbon is hosting the Web Summit this year from 7th to 10th of November. It`s the largest technology marketplace in Europe and the second biggest in the world. More than 50.000 attendees will participate in the event with 7.000 CEOs, 65% senior management professionals and a presence of 15.000 companies from more than 165 countries.
Facebook, Microsoft, Amazon, Apple and many other IT biggies from all around the world will be present at the event looking for answers, new solutions and the next revolutionary step in the world of technology. Which startup presents the next groundbreaking coup?
While the Web Summit has an impact on the entire IT world and the fortunes of innumerable techpreneurs, it will have also a particular effect on the host city. Here are the five ways how the Web Summit will transform Lisbon into a startup capital.
1. The young and wild awake
Lisbon is already a brimming startup hub. The penchant for startup here is much more profound than that in London, Berlin or Paris. No other European capital or major city for that matter has witnessed such a surge of interest in startups as Lisbon in recent years. The Portuguese capital has witnessed a boom in internationalisation in recent years and has a tech savvy young population that is willing to explore new ideas, different kinds of products and international enterprises that are rooted in the technology available today. The Web Summit will therefore not only boost the opportunities for startups already based in Lisbon. It will also fascinate the young Portuguese populace and encourage wantrepreneurs to start up. More than 2.000 tickets are given away to young people interested in tech. Many more are volunteering or presenting their own startup in the Alpha exhibition.
2. The overlooked cost of living aspect
Lisbon is relatively more affordable than other European cities. This makes it ideal for startups. The reason why many startups thrive in the city is because of the technology infrastructure but also because the cost of running startups is much less here. Startups that are based elsewhere in Europe will consider moving their bases to Lisbon – and they will finally realize this lucky chance during the Web Summit.
3. Let the funding flow
By hosting the biggest event for startups in Europe, Lisbon is certainly opening the floodgates for companies to explore opportunities in the city. New technologies being showcased at the event may very well find their way to manifestation in the city itself. Lisbon is a liberal place with people from diverse ethnicities and cultural history. Such a capital is predestined for foreign investments and companies from around the world will realize the potential by means of the Web Summit. In particular young startups get the exposure they were waiting for.
4. Expertise unites…and stays
Lisbon and Portugal by extension will get exposed to the latest technology advancements during the Web Summit and the event will bring in prominent experts for the first time. They will not only discuss and debate various prospects with tech gurus, but are also going to share their knowledge and ideas with the young and wild. This will surely usher in a new era in Lisbon, also helping the local tech-preneurs to accomplish their goals, pivot and set new ones. It will help startups to find outstanding mentors with whom they can team up with. This naturally paves the way for a booming startup scene in Lisbon, even after the Web Summit. If you are looking for some mentors, just contact us and we let you know how to attract them.
5. Governmental breakthrough changes everything
Beyond the immediate impact, the attention of foreign investors and talent, the policy aspect shouldn`t be neglected. Portugal hasn’t had a dream run in the economic sphere in the last decade. Tourism is the only industry that has been promising in the country and multiple other industries have witnessed a significant slowdown. As economies in the region experienced recession, it was necessary for Portugal to stem the ebb and reinvigorate its policies.
With the Web Summit in focus, Portugal gets a chance to capitalize on any positive development that results from the event. This will be particularly interesting since many companies eyeing for expansion look for incentives. Portugal has the economic advantages in terms of more affordable manpower and lower cost of living compared to many other major nations. Therefore, the Web Summit can propel the country into a new era of economic growth. In particular, the startup eco-system seems to benefit widely from open policies. And this was just the beginning.
If you are attending the Web Summit, drop us a line via Facebook, Twitter or Mail and let`s meet up.
The Startup Creator enables young entrepreneurs to build their own tech startup at minimal costs. Our team supports them from the idea until the final product (design, web & app development).
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