Steven Bartlett, author of the most listened podcast in Europe, at South Summit Madrid 2024: “the biggest costs for a company do not come from failure, but from the time spent making decisions”

Madrid: South Summit, co-organized by IE University, the reference meeting for the innovation and entrepreneurship ecosystem at a global level, has inaugurated today its thirteenth edition at La Nave in Madrid. #SouthSummit24 has the institutional support of the Secretary of State for Digitalization and Artificial Intelligence, the Community of Madrid and the Madrid City Council, as well as Mutua Madrileña, Google for Startups, BBVA Spark, Endesa, Wayra – Telefónica Innovation and BStartup of Banco Sabadell.

The afternoon of this first day was marked by the intervention of Steven Bartlett, entrepreneur, writer, investor and author of the podcast ‘The Diary of a CEO’, the most listened to in Europe. The British author, born in Botswana, shared with the Arena Stage audience his best tips for professional success, highlighting the ability to accept failure as part of learning. “Most decisions in life are irreversible and the biggest costs for a company are not related to failure, they have to do with the time you spend making decisions”, he said.

Bartlett sumed up his talk with practical advice for startups or companies facing a problem or a bad decision: “It’s no good sitting in a room for months thinking about different solutions and imagining scenarios. In my company we don’t work like that; we stop guessing and directly experiment. It’s our way of saving that time and ensuring successful decisions.“

Another notable speaker was Christopher Hui, Secretary for Financial Services and Treasury of the Government of the Hong Kong Administrative Region, who spoke about the risks and opportunities that technology creates in financial services. “There are developments such as blockchain that can be used for purposes such as money laundering, but also offer very interesting benefits such as streamlining funding processes for startups.”

The afternoon continued with the participation of Sergio Furio, CEO of Creditas, in a talk about the main keys towards scaling a startup. The focus word, in this sense, is “talent, the most critical thing you have to manage as an entrepreneur. The people you surround yourself with are important, but so is the mentality with which you face the ecosystem and the market,” he said.

Artificial Intelligence, its development and its application in different sectors and businesses has been one of the star topics on this first day of South Summit, thanks to experts such as Dan Wagner. The CEO of Rezolve AI Limited explained how “eCommerce is one of the sectors where we see the most potential for AI to help companies and consumers. If I want to buy a cell phone for my daughter, the sales clerk in a physical store will advise me on everything I need, but an eCommerce does not yet have the potential to advise like a human being. With the full development of AI, we will be able to have it all in one place: opinions, reviews, professional knowledge…“

#SouthSummit24 continues tomorrow on its second day with Isabel Díaz Ayuso, president of the Community of Madrid, as one of the main speakers of the day. The attendees will also be able to listen to other big names in the entrepreneurial ecosystem such as Jeff Hofmann, co-founder of Booking and director of the Global Entrepreneurship Network, or Mateo Salvatto, CEO and founder of Asteroid Techs.

Sustainability in #SouthSummit24

Since 2021, all editions of South Summit Madrid have been an example of sustainability, circular economy and Net Zero. All construction materials are modular iron panels, which guarantee a minimum age of 15 years, and the materials previously used are now functional and decorative furniture in other areas of the event. In addition, the Summit has the Ikongreen modular sustainable energy system, by Ferrovial, which will produce 100% of the energy for the ticket sales booths to the general public.

South Summit encourages all the agents involved to join them in this project, by bringing their bottles, traveling to La Nave by public transport, etc. Suppliers, partners and participants, all in the same direction.

About South Summit

South Summit is the global platform that brings together all the players in the innovation and entrepreneurship ecosystem to promote the development of business opportunities among all of them. Its main event is South Summit Madrid, co-organized by IE University, which has hosted more than 36,000 startups over the course of its twelve editions, while its Startup Competition, which has generated 7 unicorns, has garnered more than 1,000 startup finalists, with a survival rate of 90% and more than 15,007 million dollars in raised investment.

In addition, after passing through Mexico, Colombia, Peru, Chile and Argentina, South Summit held its third edition in Brazil, also co-organized by IE University, between March 20 and 22 this year. The last edition brought together more than 23,500 attendees from 55 different countries, including more than 800 speakers, 3,000 startups, 900 investment funds, ready to support the best innovative ideas from around the world thanks to a portfolio of 213,000 million dollars, and more than 750 accredited media.