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Lisbon to pay compensation if Web Summit venue is not expanded by October

fibreopticPúblico has revealed a set of conditions to which Lisbon Council must adhere if is to keep the hugely successful annual Web Summit.

The City Council will have to pay compensation to the Web Summit company if the Lisbon International Fair (FIL), in the Parque das Nações, is not expanded by 13,000 m2 by October this year.

The revelation has been published in today’s Público whose journalists have gained access to the agreement between the local authority and the company that promotes the technology fair.

According to the newspaper, the text of the agreement does not mention a compensation value ​​nor has the Council clarified how much it will habve to pay if it fails to expand the venue.

FIL currently has 41,000m2 and the agreement is to have a total of 110,000 m2.

This deal was signed between the State, the Lisbon City Council, Turismo de Portugal, the Lisbon Tourism Association, AICEP, IAPMEI and the Web Summit’s controlling company, Connected Intelligence Ltd, led by Paddy Cosgrave, with a view to continuing the Web Summit in Lisbon until 2028.

 

 

 

 

 

 



In addition, the contract includes a clause that the prime minister must go to the Web Summit each year.

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Comments  

+1 #3 Boris H 2019-05-06 23:24
Mike Williams:
You just don't get it ... the Web Summit is to Tech people, as the World cup is to football players and supporters.
Lisbon is an excellent venue and it seemed to manage very well, the 70,000 people that attended last year.
+1 #2 Darcy 2019-05-06 12:17
Has Lisboa council given any indication that they will not provide the extra space at the venue, would imagine that this would be in the interest of all of the stake holders.
-3 #1 Mike Williams 2019-05-06 08:15
I was at this last year and have been to several around Europe as a techy blogger. This kind of exhibition can be held anywhere in southern Europe - it is only the sun and networking that delegates want as much of the information is already 'out there' or soon will be. Barcelona will have the space, the experience and none of the ' Contra os Bretoes' baggage. Just a Minor quibble over the mathematics ... the difference between FIL currently having 41,000m2 and the agreement total of 110,000 m2 is somewhat more than 13,000 m2?

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