How to visit WebSummit almost free of charge and reach investments for $1 million

6 min readJan 24, 2018

The story about our almost free of charge flight to WebSummit and reaching investments for $1 million

WebSummit is one of the largest conferences for technological entrepreneurs and investors. During the ceremony there is a tradition to represent the new projects both for those who have large businesses, and for new teams with products at the stage of “idea”.

Due to the conference format the side between the companies and people from different sectors with the different level of business and its capitalization was almost erased. During the forum people are most open, ready to new acquaintances and joint cooperation. If you didn’t find a common ground with any person in specifically your product, then acquaintance anyway will be useful because:

· most likely your new acquaintance will recommend you the one who will be useful for you in your project

· they will tell several fascinating stories about the experience in business/ private life

Preparation for participation

The idea to participate in the conference this year, was proposed to me by my familiar investor who repeatedly visited it and supported several projects, which were once submitted on this platform.

The prior problem was that we had 3 weeks till the conference starts and it was necessary to pass all stages of registration, preparation of promo-materials and set the meetings.

We have read reviews on VC.ru about the conference for previous years and the decision to go was made unambiguously.

The application for participation was sent as ALPHA startup as there was neither left time, nor an opportunity to prepare normal stands anymore, but we wanted to get acquainted with that forum and use its opportunities.
The representative of organizing committee who conducted 15 minute interviews about the project which we want to submit on the platform contacted us.
In 4 days approved applications came to us with reference for payment of a contribution — 850 Euros for three participants of the team (in total two people visited the conference), the stand and access to the platform in all three days of a conference.
Using the special section on the website we downloaded a logo for the stand (organizers print it and place).

2 weeks before the conference left and they were the most complicated: it was necessary to buy tickets, to reserve placement, to update the website and to prepare the presentation for investors.

Conference

Our stand was presented in the first day of a conference, during the day of big lectures about Blockchain. Regardings to an excellent arrangement near big court of BNP Paribas in the pavilion which is completely devoted to Fintech, our zone possessed excellent traffic.

From 10 A.M. to 5 P.M. while we were at the stand, the time flew incredibly quickly. The mad energy, pleasant acquaintances, productive negotiations gave so many forces that we even missed a lunch.

Day passed extremely productively, we found several anchor investors who understood an essence of the project at once and signed with us Agreement of Intent (the preliminary agreement).

There were also amusing cases: the delegation of investors from Saudi Arabia very peculiar begins a conversation almost with each startup, sounds approximately like this: “Hi children, don’t worry, we will fill in to you so much how many it is necessary. And now tell about your project in brief”.

I do not know as far as such acquaintances really come to the end successfully (we did not do follow up yet), but the approach is interesting.

Organization of space

It should be noted separately that the conference is organized very conveniently from the point of view of internal space.

The expo zone represents four huge pavilions and the certain central stage.

Each pavilion contains in itself sections in which all companies are of one subject, for example Fintech, by HealthCare, Game/Social, Cloud, Gov and so forth are united.

Big advantages to startups is that irrespective of a stage of the project (ALPHA, BETA, START), your blocks of stands will be placed in the general zones, but not in some pavilion.

Thus all traffic passing through the pavilion and corners of large brands anyway will pass also through you too. You do not feel detached as it happens at other conferences when all startups “drive” into one pavilion to which just nobody goes.

Mistake of organizers

When we received approval for participation in a conference, the representative of organizing committee told us that our stand will be presented all three days of holding a forum.

Of course it was some surprising, as a rule the stand is given for one day, then the companies change. But we decided that we’re OK and will fly for all days of the conference.

Of course, coming there in the second day and not having found our stand, we were a little shocked and right there went to communicate with organizers of a conference.

They recognized that it is their fail and in the letter the serious mistake was made. However on the place the problem couldn’t be solved. We needed only to renominate the meetings with a new location planned for the next days conferences.

It should be noted that not only we faced this problem, there were at least two more companies. They solved a problem simply: unpacked the logos and rose almost on the same places, as in the first day. Guys arrived reasonably as it is necessary to beat off the cost of the trip somehow.

Mobile application

All advantages of a conference can be laid in the concept “productive networking”.

Actually, the founder of a conference Paddy Cosgrave at the opening ceremony also reported about it. It looked so:

“Our conference first of all is about the networking therefore right now get up and get acquainted with three people at the left and to the right of you”.

And the huge hall in which there were not less than 20 thousand people right there recovered, in three minutes all got acquainted with a row sitting. After that, any tension disappeared, the atmosphere of general trust in the whole hall set in.

The main advantages of participation at a forum are that you directly, using a mobile application of a forum, can communicate to anyone. It can be the investor of some large fund, it can be the speaker who interested you on any of lectures, it can even be the chairman of the board of directors of one of the largest banks of Europe.

Such connectivity level and opportunity without barriers to communicate with anyone as equals, you will hardly meet somewhere else.

Evening actions

Organizers of a forum actively spread the story “Uber attracted $200 million behind pint of beer in bar”. Here I with confidence can tell that it is some outstanding case. On all evening actions announced by a forum the same startups, conferees take part, as a rule. Still can be a couple of speakers.

If you are not the party-goer, do not drink alcohol — then do not waste time.

All serious investors, “strong” conferees come to the restaurant which is in advance redeemed for all evening, in the armored car and with support of local police.

Couple of such places: Sud Lisboa, Kais Restaurant, well and of course excellent restaurants near Cresmina Beach.

Result

Totally, taking into account air tickets, accommodation, a car, restaurants, tickets for a conference, we spent 7000 euros for two representatives of the company.

Taking into account already signed agreements and new contacts on which follow up just is necessary I with confidence can call WebSummit one of must have of conferences this year.