Tech Mogul Paddy Cosgrave Unveils Groundbreaking Web Summit in Qatar!

"Web Summit to Expand into the Middle East with Launch of Qatar Event in 2024"

Web Summit, the leading technology conference company, has revealed plans to expand its global reach into the Middle East with an event scheduled to take place in Qatar in March 2024. The conference, named Web Summit Qatar, will be the fifth global venue for the company, following Lisbon, Toronto, Hong Kong, and Rio. The Hong Kong conference, Rise, is set to return in 2025. The Brazilian city will host the company’s first South American event later this year. The CEO and majority owner of Web Summit, Paddy Cosgrave, stated that the company’s ambition is to make Web Summit ever more global. He added that establishing a new event in the Middle East is part of the broader plan for Web Summit.

After receiving bids from several cities across the Middle East, the Web Summit has selected Doha as the new event’s host city for the next five years. The company did not disclose any financial details in the announcement. It is worth noting that Portuguese authorities pay the Web Summit €11m annually for hosting the conference in Lisbon in a deal that lasts until 2028. Mr Cosgrave previously said that financial consideration was also involved with Brazilian authorities when negotiating the establishment of a conference in Rio.

Mr Cosgrave revealed that the company almost collapsed in 2021 under the pressure of Covid-era industry contraction. However, he said that last year’s Lisbon Web Summit put the company back in the black with over 70,000 attendees. He has been involved in a legal dispute with shareholders Daire Hickey and David Kelly, originally described by the company as co-founders.

Web Summit has been a successful technology conference company since its inception in 2010. The company aims to connect the technology community with all industries, both old and new. The conferences provide a platform for startups and established companies to showcase their products and services to investors, media, and potential customers. The company has had a significant impact on the technology industry, attracting high-profile speakers such as Elon Musk, Margrethe Vestager, and Edward Snowden, among others.

Web Summit has always been a global event, attracting attendees from around the world. The company’s expansion into the Middle East is a strategic move that will enable it to tap into the region’s growing technology industry. Qatar is an ideal location for the new event, given its strategic location in the Gulf and its reputation as a regional hub for innovation and entrepreneurship. The country has invested heavily in its technology industry over the past few years, with a particular focus on artificial intelligence and blockchain.

Web Summit Qatar is expected to attract a broad range of attendees, including entrepreneurs, investors, startups, and established companies. The conference will provide a platform for attendees to network, share ideas, and learn about the latest trends in the technology industry. The event will also feature keynote speeches, panel discussions, and workshops, covering a wide range of topics related to technology and innovation.

In conclusion, Web Summit’s expansion into the Middle East is a significant milestone for the company. The new event in Qatar will provide a platform for the company to tap into the region’s growing technology industry and connect with attendees from around the world. The event will also provide attendees with an opportunity to learn about the latest trends in the technology industry and network with other professionals. Web Summit Qatar is set to become a must-attend event for anyone interested in technology and innovation.

Categories: Irish Tech News