Does Portugal have the Web Summit exclusive? Yes, but only in Europe
“We’ve been paying millions for years to have the Web Summit exclusive and Ireland, the smart-ass who set up a fair here, announces a Web Summit in Brazilbut ‘guarantees that Lisbon, naturally, will always be fooled by the muggles’, writes in the Twitter post with close to a thousand reactions.
In the responses to tweet are several criticisms of the summit dedicated to innovation and technology that was born in 2009 in Ireland, having developed in Lisbon in 2016.
But is it true that Portugal has the exclusive Web Summit?
Questioned by the Polygraph, a Lisbon City Council affirms that it is true that there is an exclusive contract between Web Summit and Portugal, but stresses that the agreement to cover only Europe. That is, an event organization can hold a summit in countries on other continents.
The municipality, although Portugal spends 11 million euros a year at the Web Summit, of which “about four million are supported by the Lisbon City Council”.
Without further explanation, the municipality refers to the framework of this contract for a interview made by the Renaissance to the former president of the Chamber, Fernando Medinaat the end of 2020. At the time, the former mayor and current finance minister was reacting to the announcement of the extension of the summit to Tokyo and reveals that the contract with a previously exclusive Web Summit for Europeexpressing himself “very pleased” with the expansion of the Web Summit to other continents.
Questioned by the newspaper “ECO“On a possible need for compensation from Portugal for the use of the Web Summit name in another location, Paddy Cosgrave and the need for a scenario: “There is no security compensation.”