Home Business news from ireland Widespread disappointment as Web Summit relocates to Lisbon!

Widespread disappointment as Web Summit relocates to Lisbon!

Co-Founder of Web Summit Paddy Cosgrave was joined in Lisbon today by Portugal’s Deputy Prime Minister Paulo Portas, as he announced that the event will take place in Lisbon for the next three years.

Very disappointed

Taoiseach Enda Kenny who was at the National Ploughing Championships has said he is “very disappointed” to hear the international Web Summit is moving to Lisbon in Portugal from next year and he added that he hoped that the summit would return to Ireland in the future.

Paddy Cosgrave, chief executive and co-founder said the summit had grown beyond what he and co-founders thought possible five years ago when the first one took place in Dublin.

Speaking to RTÉ News this morning, Cosgrave said they had chosen the Portuguese capital because it has strong infrastructure, a thriving start-up community and a world-class venue. The company, which employs 130 people at its headquarters in Dublin, will continue to be based in Ireland.

It is estimated that the event, which was first held in 2010 with just 400 people attending, brought in €35m to the local economy last year with over 22,000 people attending.