South Summit concluye su 13ª edición transformando a Madrid en la capital mundial del emprendimiento y la innovación durante tres días

Hidalgo, accompanied by Niño, during their participation in the closing day of the South Summit 2024, a summit held at La Nave

After three days of intense activity, South Summit 2024 closes its doors today, the largest event on entrepreneurship and innovation in southern Europe that took place at La Nave, the city of Madrid’s reference innovation center. The event, in collaboration with the City Council for the past 9 consecutive years, brought together more than 17,000 people from 125 countries, 500 international gurus, representatives of large companies and investors, consolidating Madrid as the capital of entrepreneurship.

The delegate for Economy, Innovation, and Finance of the City Council of Madrid, Engracia Hidalgo, participated in the closing day of the summit emphasizing «the success of an event that creates real business opportunities,» a «platform for connection between entrepreneurs, investors, corporations, and institutions from around the world,» which, with 13 editions behind it, has become «a fundamental event to understand the innovation and talent ecosystem, of which Madrid is already a global reference.» .”

In the closing day of this edition, where Hidalgo was accompanied by the Delegate Councilor for Innovation and Entrepreneurship, Ángel Niño, the awards were given to the best startups of the edition, within the Startup Competition South Summit ’24.

Innovation in service of people with municipal support

Under the slogan «Human by Design,» the recently concluded edition highlighted the role of innovation in service of people and as a tool to improve their lives.

With an economic impact on the city of over 34 million euros, according to the South Summit Socioeconomic Impact Report, and a municipal economic injection of 800,000 euros, South Summit 2024 also included the South Summit Street Fest, a festival in Plaza de España that brought the latest trends in technology, innovation, and entrepreneurship to the public.

Madrid leads the presence of women in high technology

Madrid has established itself in recent years as one of the main centers of European entrepreneurship, with 2,645 startups that raised 775 million euros in 2023 and generated 48,000 jobs that year, 30% more than in 2022.

Madrid also attracts large companies that establish their offices in the city and throughout the Community, positioning itself as the second region in Europe in high-tech employment according to Eurostat, leading the presence of women in this sector, with nearly 100,000 workers dedicated to this cutting-edge field.

The city is a magnet for international investment and talent, «fundamental factors for the future of cities,» in the words of Hidalgo, and a destination for large companies committed to innovation and transformation. The capital has become the main destination for foreign investment in Spain, representing 68.5% of the total national investment.

Madrid, capital of innovative initiatives

The City Council was present at the congress with the stands of Madrid Innovation and Madrid in Game, where it could showcase the various municipal initiatives implemented in the field of innovation and entrepreneurship.

First and foremost is Madrid in Game, a municipal program to promote the video game industry and its professional and business aspects, positioning Madrid as the world capital of gaming by incubating and accelerating emerging companies with the greatest potential in the sector and hosting the best international events.

Through Madrid Emprende and Madrid Innovación, almost 500 startups were supported and over 8,000 questions from entrepreneurs were answered, providing them with the accommodation, training, and advice necessary to develop their business projects and helping them in their search for funding.

In its commitment to attracting and retaining talent, the City Council has also developed the Puentes de Talento program, in collaboration with the Inter-American Development Bank (IDB), which brings together the best researchers, scientists, technologists, and entrepreneurs from Ibero-America and promotes the exchange of talents on both sides of the Atlantic; in addition to implementing various specific programs aimed at scientific-technological talent who do not have the opportunity to make the leap and create their own startups by moving from the test tube to the street.

Innovation is also essential in the action of any public administration, which is why the City Council applies innovation to improve telecare services for the elderly in Madrid by incorporating mobile technology to act preventively and quickly to their needs.

In line with optimizing service to citizens, the City Council has just presented the Madrid Digital Twin project, which allows simulations and impact analysis in the planning of policies and public services. It will allow evaluating the impact on citizens’ lives of any work or infrastructure before its execution, as well as analyzing the flows of people and vehicles in a large-scale event such as the Three Kings Parade or traffic variables on Bailén Bridge.