It’s the most entrepreneurial time of the year!

What we’ve learned from 5 years of (The Square at) Web Summit

It’s that time of the year again. For the next few weeks, Web Summit will be the hot topic in the Portuguese news and the innovation ecosystem. Startups are refining their pitches, companies are preparing their CEOs for the panels, PR agencies are making the most of the international media present, journalists are struggling to attend all talks across all stages and do all interviews, putting everything out almost in real time, attendants are enjoying themselves with all the merchandising, good environment, and innovative solutions that they can experiment on the 5-pavillion-venue. Yes, before Black Friday or Christmas rush, if you live in Lisbon or are attending the event, you will feel the Web Summit rush!

As part of the entrepreneurship ecosystem, The Square has made its way to Web Summit since its foundation, in 2017, and what good memories we have from each edition — a boat trip in the river, a tuk-tuk ride through the city, a scooter walk to a gaming bar, amazing parties. But let’s not get lost in the memories.

Five years later, there are some learnings we would like to share for the first-time riders in this giant event (have you seen the numbers? 70,000 attendants, 2,600 startups and companies, and more than 1,000 investors in only one place for three days! Amazing, isn’t it?).

You don’t need a ticket to be at Web Summit

A great thing about an event like Web Summit is that, if you want, you can be part of it just by being in the city. If you’re not a woman or part of any Government, incubator or accelerator’s program, the price of the ticket may take your eyes off the event. Although going there is nice, I may say that the best opportunities to meet potential clients, partners, investors, journalists are not in the venue… and are free. That said, be aware of the side-events that companies, investors, and other entities are promoting — you can check some of them here. In addition, the Pink Street in Cais do Sodré will most likely be full of entrepreneurs and innovators looking to meet new people.

Let me remind you that in the first year (better said, in the first months) of The Square, investing in entrances for Web Summit wasn’t a priority, but being there was mandatory. So, The Square set a giant board in the entrance of the venue, where people could take their picture and have their face in the cover of Time magazine. A simple idea to show that if you want good PR results, The Square is the way to get them. Clever, uh?

That didn’t put The Square inside the venue, but definitely made sure it was part of Web Summit. In conclusion: if you don’t have the money for a stand in the venue, neither the opportunity to pitch your startup or to be a panel speaker about the future of your industry, think outside the event and look for other opportunities where you can meet with your target audience.

Use the app

Web Summit has such a diversity of people, industries, and opportunities that it is really easy to get lost in it. Personally, despite working with startups and VCs for five years, my relationship with new apps and social networks is still a bit disturbed. But I must admit that the Web Summit app is good and works well! People are aware of it, install it, and make themselves available to schedule short meetings with you. Besides, you can apply the filters that meet the profile you target so you can take the most of your time there. And, as Web Summit gathers so many people from different regions, you can learn more about other markets.

For PR professionals, this is a great tool to meet international journalists and start creating a relationship with them, which is crucial in our work. Even though it will continue to be hard to pitch a €1M funding round to TechCrunch, at least Mike Butcher will recognize your name (hopefully!) and will let you know if it fits the publication or not — however, we still recommend you to read this before pitching him.

The app will also warn you about the talks you may be interested to hear. Mark them in your agenda and keep up with the demanding schedule!

Don’t expect to make sales or raise capital in there

Web Summit is not an event to make sales or to raise capital. It’s an event to network, to meet some of the most influential people in the industry, to learn more about the trends that will mark the sector, and to present yourself and your company to the established target.

People will be in a rush all the time, so don’t expect to have more than 20 minutes of their attention. Prepare the pitch about you and your company, and, most important of all, prepare yourself to hear the other part. The truth is that those 20 minutes will be used to start a conversation, not closing a deal. So, use them wisely. People will want to continue talking with you if they see you as not just a seller, but an interesting person with unusual perspectives about their sector and difficulties. This will allow you to open the door for a further meeting with the purpose you wanted from the beginning. Be smart, not greedy!

Networking is the main goal

There are business opportunities in every conversation you start. Don’t dismiss a quick chat with a product manager because you were looking to talk with the CTO. You’ll never know the influence of the person you have in front of you inside his/her company, and a good conversation can lead you to the right email, phone number or meeting. Also, one never knows where one will be working next, nor the position one will have, so don’t depreciate anyone. Today’s janitor can be tomorrow’s mayor.

A great thing about these events is that everyone is open and looking to meet other people, so they won’t feel pestered if you just present yourself, join their group and start a discussion. It is part of the deal. So, don’t be shy. Prepare to talk a lot, practice your English and your ‘conversation unlockers’, and make sure you have enough business cards and your LinkedIn profile updated (nowadays, people prefer to scan the LinkedIn profile than keep a card).

As important as the topics above: wear comfortable shoes

In five years, I still don’t know the trick to not walk so much during the event. Five pavilions are a lot — according to my phone, last year, I walked at least 25km in three days. Be prepared, wear comfortable shoes, always have the water bottle with you, and try not to have the backpack too heavy. Also, try to schedule the meetings in places close to each other, so you don’t have to run from one to the other.

Web Summit continues to be a very important moment for the innovation ecosystem, and a great opportunity to meet different people and companies from all over the world. To take advantage of it, the main advice is: don’t stay at home, nor talk only with your buddy. Mingle and have fun!

See you there? 😊