How a trip to Rio won Vancouver the rights to host the Olympics of Tech

Over 15,000 global entrepreneurs, tech leaders, investors, and members of the media have come to the city this week for the inaugural Web Summit Vancouver. However, the huge event almost didn’t happen.

The “Olympics of Tech,” taking place from May 27 to 30 at the Vancouver Convention Centre, features insightful panels, networking events, and industry meetups on topics like AI, marketing, tech ecosystems, and more.

In a press conference with Vancouver Mayor Ken Sim this week, Web Summit CEO and Founder Paddy Cosgrave explained that it took some convincing for him to bring the event to Vancouver.

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“Vancouver is truly a world-class city, (but) the event almost didn’t happen here if truth be told,” said Cosgrave. “We had initially decided that Web Summit wouldn’t happen in Vancouver, and I had made that decision without ever having been to Vancouver.

“A number of people from the city, some of whom work directly with the mayor, flew to Rio a year ago and doorstep me with incredible levels of Canadian politeness. [They] compelled me to come to Vancouver, and having seen and experienced the city firsthand and how beautiful it is, and then having met so many people involved in tech in Vancouver, my perspective of the city was completely changed.”

The City of Vancouver confirmed to Daily Hive that an envoy of City employees and representatives of partner organizations travelled to Brazil to advocate for bringing the Web Summit to Vancouver. It also invested $250,000 to bring the tech conference to the city.

“The City of Vancouver has a robust process when it comes to bidding on and attracting global events and conferences,” said a representative of the mayor’s office. “When appropriate, Mayor Sim plays a role in advocating on the City’s behalf, recognizing the tens of millions of dollars of direct economic activity these kinds of events bring into our city.”

In 2024, Destination Vancouver estimated that Web Summit Vancouver will produce substantial local economic spinoffs, with nearly $57 million in direct spending and over $93 million in overall economic impact for British Columbia in its first year.

Vancouver has set the record for the highest number of startups featured for an inaugural Web Summit event, with 1,108 from 64 countries as far away as Italy, Nigeria, India, Ukraine and more. Nearly half of the startups showcased this year are founded by women.

In addition, Web Summit Vancouver has drawn 159 partners ranging from Microsoft to Mastercard and Figma, as well as 681 investors from industry-leading funds like Thiel Capital, 500 Global, and Khosla Ventures.

Organizers also confirmed that 50 international trade delegations from countries such as South Korea, Turkiyë, and Nigeria are also in attendance.

“It’s super exciting that Web Summit is here and chose Vancouver for the next chapter in their journey,” said Sim during the press conference. “And make no mistake about it, it’s going to have an incredible impact on our city, not just during the week that they’re here.

“The seeds that are going to get planted here are going to pay massive dividends in the future and create the next chapter of Vancouver, B.C., and Canada when it comes to tech.”

Web Summit hosts large-scale technology conferences worldwide in cities such as Lisbon, Rio de Janeiro, and Doha. Vancouver’s event is the first Web Summit in North America.

Other major events coming to Vancouver in the near future include the global Alcoholics Anonymous (AA) convention this July, and the FIFA World Cup and the 76th FIFA Congress in 2026.

With files from Kenneth Chan and Daily Hive staff

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