Web Summit 2024 – It’s a wrap!

The Cyrex team found themselves at Web Summit 2024, held in Lisbon from November 11-14. Once again, this event cemented its reputation as one of the world’s premier technology gatherings. With staggering numbers like 71,000 attendees, 2,600 startups, and 950 speakers, this year’s event combined cutting-edge innovation, forward-thinking discussions, and unparalleled networking opportunities. 

Key Themes and Innovations

Web Summit 2024, as usual, was a showcase of how technology is reshaping industries, society, and even global ecosystems. This year, we’d like to highlight several core themes that stood out:

1. Generative AI and Automation

Artificial intelligence was definitely the cornerstone of many discussions, with a particular focus on generative AI. Keynote speakers delved into its growing applications in fields such as healthcare, education, and media. Companies like Hugging Face presented advancements in natural language processing and machine learning models, demonstrating how AI continues to push boundaries.

Concerns about AI ethics and misinformation also sparked critical debates, as did concerns about a lot of it being over hyped and forced. Similar to the old-school days of Web3, slapping a “.ai” on a product without solving an actual problem creates noise around what is a world-shaping movement.

2. Green Tech and Sustainability

A rising wave of cleantech startups underlined the industry’s shift toward sustainability. Innovations in renewable energy, carbon capture, and sustainable manufacturing processes showcased the intersection of profitability and environmental responsibility. Notable discussions centered around how tech can combat climate change while driving economic growth.

A special mention to Toco as a very cool example of a venture that is actively working very hard to tackle a well known stigma of crypto and Web3 in general.

3. Web3 and Decentralization

Staying close to that topic, the evolution of blockchain and decentralized technologies came back as a hot talking point once again. Two sessions we took part in explored the practical applications of Web3 in creating more secure, equitable digital ecosystems. From financial services to supply chain transparency, blockchain’s transformative potential was a recurring theme.

If there’s one thing to be mentioned, it’s palpable how the ecosystem has matured into a much more sustainable, post-hype, solution-driven trend.

Another shout out, this one to Apillon for their amazing product we will 100% put to the test! 

4. Global Collaboration and Emerging Markets

The event highlighted the importance of cross-border partnerships. Emerging markets, particularly in Asia, Africa, and South America, were emphasized as hubs of untapped potential. Startups from these regions gained visibility, showcasing innovative solutions tailored to localized challenges.

The topics of “global workforce” and remote work were still as prominent as last years, meaning that the trend is set to keep going strong.

5. Security and Optimization on the Rise

Perhaps driven by how automation is severely impacting the development landscape, by the ever increasing scale and complexity of projects, or simply due to how dependent and reliant we are on technology these days, there is a palpable investment into both security as well as optimization.

What was long ago considered as “nice-to-haves” are now very visible trends in the tech industry.

The faster technology moves, the more products are investing into making sure security is applied from the ground up and shown as a top concern for their audience and investors. 

In a similar movement, in the current “bear market” vibe around the world, especially with the current state of tech, more and more focus is being placed into how to optimize costs and performance, rather than just keep throwing money into problems and hoping they go away.

The Startup Ecosystem

A hallmark of Web Summit is its focus on empowering startups. This year’s event featured over 2,600 startups from diverse industries, offering them platforms to pitch ideas, secure funding, and connect with investors. The PITCH competition stood out, highlighting some of the most innovative and disruptive companies poised to make an impact in 2025 and beyond.

Additionally, larger companies used the summit to explore collaboration with these startups, reflecting the growing importance of open innovation in today’s tech ecosystem. Investors were especially drawn to startups at the intersection of AI, sustainability, and healthcare, marking these as areas of significant growth potential.

Looking Ahead

Web Summit continues to evolve alongside the tech industry. As new technologies emerge and global challenges demand innovative solutions, the event will likely continue to grow in scale and influence. For attendees, it offers not just a glimpse into the future but a chance to actively participate in its creation.

The 2024 edition reaffirmed that Web Summit is more than a conference—it’s a dynamic ecosystem where technology, creativity, and collaboration converge to shape the next chapter of innovation. For those passionate about technology, it’s a can’t-miss event and an easy way to get where the vibe is moving towards.

It’s also a testament to the industry’s resilience and creativity. It wasn’t just about showcasing technology but about envisioning a better, more connected future, in an ever-changing world. If you didn’t catch us there or would like to get in touch with us, don’t hesitate to reach out and contact us today.