The Portuguese Government will cover the 2025 edition of the Web Summit using reimbursed European funds, shifting the financial burden fully to IAPMEI and sparing Turismo de Portugal, which previously split the bill 50/50.
Two orders recently published in the Diário da República detail the mechanism:
- €780,220 will be used from reimbursements related to the QREN Incentive Systems under the Competitiveness Factors Thematic Operational Program;
- Another €4.09 million will come from the Lisbon Regional Operational Program reimbursements.
Together, these account for a €4.87 million payment toward the event. However, costs could reach €8 million per edition through 2028, with the full 10-year hosting agreement (2019–2028) allowing for up to €80 million in total public spending, adjusted annually for inflation.
Since 2018, the state’s commitment to the Web Summit was to be jointly covered by Turismo de Portugal and IAPMEI, using EU fund reimbursements when possible. Going forward, IAPMEI will handle the entire amount, with preference for repurposing EU refunds tied to economic and innovation-related incentives.
The rationale? Lisbon retaining the Web Summit is framed as “essential” for Portugal’s long-term strategic positioning in tech innovation, competitiveness, and internationalization. According to Economy Minister Manuel Castro Almeida, it's also a powerful tool to promote Portugal as a global tech destination and attract high-value investment
📌 Bottom line: Instead of new direct spending, Portugal is smartly reusing unspent EU funds from past projects to keep one of Europe’s top tech events anchored in Lisbon — at least until 2028.
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