Nearly 30 technology ‘unicorns’ gathered to discuss the future of AI in Europe

The event took place on June 3-5 in Madrid, Spain, with the theme “AI Convergence”. According to the organizers, AI is the focus of discussion of the forum, ranging from investment, startups, competitiveness, national defense to technological sovereignty.

In an announcement on May 11, the organizing committee said that the event is expected to gather more than 600 international speakers, including startup founders, investment funds, technology corporations and representatives of public organizations. Among them, there are nearly 30 technology “unicorns” – startups valued at one billion USD or more. Some names confirmed to participate include Sebastian Thrun – expert in AI, robotics and autonomous vehicles, founder of GoogleX; Kim Perell – businessman who invested in more than 100 companies in Silicon Valley and is a billionaire before the age of 30; Anna Hartvigsen – co-founder of Female Invest…

Established in 2012, South Summit is considered one of the most influential startup and innovation forums in Europe. The event plays a role in connecting startups with investment funds, technology corporations and policy-making agencies. Many startups that participated in the program later became billion-dollar businesses or expanded their operations globally. In recent years, South Summit expanded away from pure startups to focus more on AI, deep tech, cybersecurity and digital transformation.

Citing reports, a representative of the organizing committee said AI currently attracts 61% of total global venture capital, a sharp increase from 30% in 2022, showing that AI is “no longer just an emerging technology, but has become a driving force for transformation of the global economy”.

“Artificial intelligence is no longer just a technology, but has become a force that is redefining the way people invest, build companies, compete and the way we think about the future of Europe,” said Maria Benjumea, President and founder of South Summit. According to her, the event will be a place where the international ecosystem meets, learns about the current situation, opportunities and ways to build globally competitive companies from AI.

A special feature of this year’s event are discussions on AI in defense. The program has the participation of DIANA – NATO’s defense innovation promotion department – along with startups and investors in the fields of dual-use technology, cybersecurity and automated systems. According to the Report published by South Summit and PwC, defense and healthcare are the two fields attracting the strongest AI investment, especially in areas such as cybersecurity, data analysis and infrastructure protection.

In addition to AI content, South Summit is also considered one of the major technology investment connection points in Europe. Last year, the event attracted more than 2,000 investors, of which more than 600 were from abroad. South Summit’s Startup Competition program has supported more than 1,500 startups to reach the final round, with a survival rate of over 85% and raising more than 20.5 billion euros in capital after participating in the event.