Web Summit Lisbon 2026: Unveiling a Global Tech Future and Portugal&#8217;s Innovation Rise
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<aside>(This article was generated with AI and it&#8217;s based on a AI-generated transcription of a real talk on stage. While we strive for accuracy, we encourage readers to verify important information.)</aside>
<img decoding="async" style="float: left; margin-right: 15px;" src="https://web-summit-engine.imgix.net/0cil8tekdow99buwbomft2ajucyu?auto=format&amp;fit=fill&amp;fill=solid&amp;fill-color=white&amp;w=600&amp;h=600&amp;fm=jpg&amp;dl=Paddy Cosgrave.jpg" alt="Paddy Cosgrave" width="200" align="left" hspace="10" />
Paddy Cosgrave, CEO and Founder of Web Summit, welcomed a record global audience from 164 countries. He highlighted strong European representation and significant growth from the global South, particularly Brazil, which now contributes more startups than Paris, showcasing the event&#8217;s diverse international reach.
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Mr. Cosgrave noted a significant shift in tech leadership. While current giants originated in California, future superstars in AI, robotics, and other sectors are increasingly emerging from China. He cited Revolut, a Web Summit startup, which replaced Western AI models with a Chinese open-source AI model, GLM, achieving 60% faster coding and 90% lower AI costs.
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Over 50 leading Chinese innovators from AI, robotics, automotive, quantum computing, and energy are presenting. Mr. Cosgrave declared this the most important lineup ever, emphasizing China&#8217;s growing role in shaping the future of technology.
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Reflecting on Portugal&#8217;s transformation, Mr. Cosgrave recalled initial skepticism when Web Summit moved to Lisbon in 2016. In a decade, Portugal became the &#8220;California of Europe&#8221; and Lisbon its &#8220;new startup capital,&#8221; hosting record Portuguese startups. He thanked former Mayor Fernando Medina and current Mayor Carlos Moedas for their contributions.
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Mayor Carlos Moedas welcomed everyone, connecting Lisbon&#8217;s historical role as a global connector to its present innovation hub. He stressed the city&#8217;s inclusive spirit, stating, &#8220;No matter who you are&#8230; you belong here.&#8221; He emphasized that diversity fuels innovation, citing Lisbon&#8217;s impressive growth: 19 unicorn companies, 110 tech centers, and over 18,000 new jobs.
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He shared the inspiring story of Nuno Prago Ramos, whose personal cancer experience led him from law to biochemistry. With Professor Paula Videira, Nuno co-founded CellMaps, developing targeted cancer treatments, eventually selling for a billion dollars. This story, Mr. Moedas explained, illustrates innovation through embracing differences, courage, and transforming personal pain into a drive to help others.
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Minister Gonzalo Matias addressed AI&#8217;s profound impact, stating the future is now a decision. He outlined five key commitments for government to proactively integrate AI, stressing that inaction in uncertainty is not an option. These include simplifying processes before digitalization, using AI to dismantle bureaucratic hurdles, and deploying AI in healthcare to optimize resources and reduce waiting times.
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Furthermore, Portugal plans intelligent infrastructure, leveraging clean energy and strategic location for sustainable data centers and sovereign clouds, ensuring data protection. The ultimate goal is an &#8220;agentic state&#8221; where AI proactively addresses citizen needs without repeated requests. Minister Matias concluded that success would be measured by improving people&#8217;s lives, declaring that the future of government would be built by those who act and innovate, adhering to &#8220;the European way.&#8221;
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