South Summit to expand to Asia and the US after success in Brazil

- April 28, 2023

South Summit, co-organized by IE University, has been a successful platform for startups around the world, with over 32,000 startups from 175 different countries participating in its ten editions, generating more than 10,190 million in revenue and nearly 48,000 jobs. 

María Benjumea, the president and founder of South Summit, announced that the next goal of South Summit is to expand to Asia and the United States, following the success of its second edition in Brazil. 

At the presentation ceremony of South Summit Madrid 2023, Benjumea emphasized the importance of collaboration and innovation from a global context. 

“From the beginning of South Summit, our idea was to change mentalities to reach globality. The world has no borders and our commitment has always been to collaboration and innovation from a global context. We are convinced that nothing is better than connecting regions and taking innovation from Spain to new places”. 

Benjumea also stressed during the event that “South Summit will always be the place where we find business opportunities for all the players in the entrepreneurial ecosystem, but always from a human and global point of view”.

Benjumea referred to Today 2030, the slogan that will open the next edition of South Summit Madrid 2023, because “taking care of the planet is fundamental and we have many challenges ahead to achieve it, but there are also many opportunities brought by the objectives of Agenda 2030”.

She also applauded the approval of the Startups Law, which is already becoming an international reference, and stressed the importance of taking care of the planet, which will be the slogan for the next edition of South Summit Madrid.

Madrid: innovation capital

The Spanish entrepreneurial ecosystem has seen an increase in value and employability, with the ecosystem consisting of 12,041 startups in 2022, employing nearly 160,000 people, making Spain the fourth European country with the largest number of startups. 

Madrid is one of the main European innovation hubs, with around 2,500 startups generating around 37,000 jobs in 2022 and raising around 1,275 million euros. 

The Mayor of Madrid, José Luis Martínez-Almeida, stressed the City Council’s continued support for South Summit, which has been a catalyst for entrepreneurship in the city since its first edition in 2012.

“From the City Council, we will continue to support this global meeting and thank María Benjumea for everything she has done for this city and for being the real accelerator of entrepreneurship. 2012, the year of its first edition, was a before and after for Madrid, which is already in the TOP5 in Europe.”

A PwC report shows that the most positive impact of South Summit Madrid has been felt among the Spanish startups finalists, which have seen their turnover multiply by 13.9 times since participating in the event, reaching around €7.64 billion in turnover.

The report also reveals that the next edition of South Summit Madrid 2023 will generate economic activity of around 30 million euros.

Carme Artigas, Secretary of State for Digitalization and Artificial Intelligence, has proposed that South Summit take advantage of the next meeting of ESNA (European Startup Alliance) to strengthen ties with Europe and Latin America and present what is being done in Spain.

Javier Fernández-Lasquetty, Minister of Economy, Finance, and Employment of the Community of Madrid, emphasized the contribution made by South Summit and María Benjumea to the Spanish entrepreneurial ecosystem.

Innovation knows no borders, and South Summit’s success and expansion to Asia and the United States are clear indications of this fact.

As South Summit Madrid continues to be a catalyst for economic growth and employability, the entrepreneurial ecosystem in Spain and the rest of the world will undoubtedly continue to thrive.