A premier global technology and entrepreneurship event, the Web Summit, gathered tens of thousands of people in Lisbon, including an increasing number of Turkish entrepreneurs, backed by the Presidential Investment Office, Foreign Economic Relations Board (DEİK) and development agencies.

The event, held between Nov. 13-16, attracted about 70,000 tech enthusiasts and entrepreneurs keen on exploring the latest in technology, drawing speakers from global companies and startups, as well as politicians.

Nearly 40 entrepreneurs and companies from Türkiye joined the conference focused on artificial intelligence, mobility and sustainability. Four were supported by the Presidential Investment Office, while seven gathered at the DEİK booth.

Some 23 attended the summit under the coordination of Industry and Technology and through the cooperation of Istanbul Development Agency (İSTKA), Ankara Development Agency (ANKARAKA), Izmir Development Agency (İZKA), Bursa Eskişehir Bilecik Development Agency (BEBKA) and West Mediterranean Development Agency (BAKA).

Ecosystem report

Gökhan Yücel, head of the Communications Department at the Investment Office, noted the significant interest of visitors toward Turkish startups at the Web Summit 2023.

"Visitors to the Türkiye booth showed interest in every startup. Moreover, they downloaded our ecosystem report to gather information about Türkiye. The educated workforce and successful entrepreneurs in Türkiye are capturing the attention of investors," said Yücel.

"We will continue to support the participation of the Turkish entrepreneurial ecosystem in international events."

In a time of profound changes across various industries due to digital transformation and major global uncertainties, Web Summit serves as a convergence point for policymakers, thought leaders, heads of state, and founders and CEOs of technology companies. It brings together influencers and professionals from diverse scenes, including mobility, finance, energy, healthcare, artificial intelligence and cloud technology.

Rising female participation

The Web Summit event once again captured the imagination of thousands of people from every corner of the technology spectrum, with more startups than ever and a larger percentage of female participants compared to previous years.

Over the course of four days, startups, investors, industry experts, and technology enthusiasts came together to establish a communication network and share their ideas. The event attracted over 70,000 participants from 153 countries, with women comprising 43% of the total attendees.

Katherine Maher, the new CEO of Web Summit, emphasized that they brought together tens of thousands of people who "use Lisbon as a springboard to do remarkable things."

The event allowed innovators to establish networks, share ideas and develop a visionary world outlook through presentations and discussions over four days.

Investors convene

Emphasizing the importance of gaining experience in global events with all stakeholders, Ahmet Cüneyt Selçuk, director of Financial Investments at the Presidential Investment Office, said they recognize that global funds can be more effective if they find strong local partners.

"We believe that global venture capital funds can meet and make joint investments with funds in Türkiye. Therefore, Web Summit is not only an opportunity for entrepreneurs but also for investors to meet. The increasing number of unicorn startups – ventures valued at more than $1 billion – from Türkiye since 2020 and investments in the billions have heightened interest in Türkiye," said Selçuk.

"Now, we are actively trying to maintain this interest by participating in global events."

Journey to global arena

Among the participating entrepreneurs, Octopus focuses on digital signage systems, ensuring the most accurate display of content for sales. The company integrates screen management with artificial intelligence to create personalized opportunities. Octopus has implemented video analysis services and the Conditional Content feature at stores of one of Türkiye's biggest textile retailers, Kiğılı.

Emre Yıldız, the founder and manager of Octopus, said they are contributing to developing different communication strategies at the branch level.

"We are participating in five different events this year. In each event, we get the chance to introduce ourselves to different companies and investors. Participating in events with the support of the Presidential Investment Agency is crucial for our global expansion," said Yıldız.

Invest in Türkiye

Speaking at the Web Summit, Erdem Erkul, head of the Digital Technologies Business Council at the Foreign Economic Relations Board, highlighted the growth observed in the startup ecosystem.

Inviting investors and entrepreneurs to Türkiye, Erkul stated three key objectives for their participation: "Our business council aims for more brands from Türkiye to join the global journey and for more technology companies to attract investment, particularly at an event with 70,000 participants. We are striving for the success of more Turkish brands and companies worldwide. We also invite investors and entrepreneurs from around the world to Türkiye."