South Summit 2023: opportunity and conditions for startups

The South Summit returns for its 11th edition in Madrid from 7 to 9 June 2023. The three day event positions itself as a major European meeting place for startups, investors, corporates and institutions focused on innovation. The European Innovation Council Community circulated an announcement encouraging startups to apply to the South Summit Startup Competition and offering EIC beneficiaries a promotional 20 percent discount on tickets using the code EUInnovation20.

Key dates, access and the EIC discount

What the Startup Competition promises

The South Summit advertises the Startup Competition as a route to investor meetings, corporate partnerships and visibility. Organisers highlight access to a large pool of investors and corporate partners and promote a package of support for selected startups. Below are the listed components and what they mean in practice.

Context and what to verify before applying

South Summit has become a recurring European startup festival and a networking focal point. For many founders the event is an efficient way to meet a high number of contacts in a short period. At the same time organisers often use broad phrases such as having 'one of the highest numbers of investment funds in Europe.' Startups should treat such claims as context rather than a guaranteed pipeline of capital. Outcomes depend on fit with investor strategies, stage, sector focus and the startup's preparation.

Startups should also check the selection process for the Startup Competition. Important items to verify are eligibility criteria, any equity or funding commitments implied by participation, costs not covered by organisers such as travel and accommodation, and deadlines for logistical items like demo booth bookings. If applying with EIC support, confirm the discount terms and whether it applies to specific ticket categories.

Practical tips for applicants

If you plan to apply and attend, consider the following practical steps. First, tailor the application and pitch to the South Summit audience by highlighting traction and investor relevant metrics. Second, research the Investor and Corporation Book in advance to request targeted 1 to 1 meetings. Third, budget for realistic event costs beyond discounted tickets such as demo stand setup, travel and local staffing. Fourth, use masterclasses to sharpen a concise ask and follow up plan. Finally, set realistic objectives for the event such as securing specific numbers of high quality meetings rather than general exposure.

How this fits the EU innovation ecosystem

The European Innovation Council community promoted the opportunity to its beneficiaries. Events such as South Summit complement EU funding programmes by connecting grant recipients to private investors and corporate partners. For startups that have received EIC support, visibility at established industry events can accelerate commercial contacts and cofunding conversations. However, the bigger effect on a startup's trajectory comes from sustained investor engagement after the event rather than a single pitch or festival appearance.

EIC beneficiaries should weigh the marginal benefit of discounted access against other routes to investor meetings. For example local investor networks, sector specific conferences and accelerator programmes may provide deeper sector fit or longer term mentoring.

Next steps and contact

Apply to the South Summit Startup Competition by 20 February 2023 if you want to be considered for stage pitching and the selection package. Use the EIC beneficiary code EUInnovation20 to obtain the advertised 20 percent discount on tickets. For full details on the competition, application process and fees consult the official South Summit website at https://www.southsummit.co/. Verify all terms and conditions with the organisers before committing to travel or booth purchases.