This brings me to the first (and the most important thing) I learned at the web summit this year:
making so many young fintech startups look so old already. CoinSwitch Kuber, a cryptocurrency exchange platform exclusive to the Indian market, invested by Sequoia Capital, makes it easier for a 25-year-old to exchange bitcoin than ordering a pizza on Zomato. According to Guillaume Pousaz (Checkout.com), the pandemic has driven the adoption of digital money services faster by five years. Fintech has grown so big that the term Unicorn is not enough anymore.
AI is still making a difference in bringing the most customized solutions to the world.
Startups using AI to avoid water leakage, material waste and improve agriculture won innovation prizes at the web summit left and right, giving more meaning to Web Summit 2021 coinciding with the United Nations' COP26 conference.
As the world emerges from the pandemic, the idea of pouring your heart out into a piece of software doesn’t seem weird anymore. AI is being used by a growing number of mental health start-ups. And, mental health chatbot Woebot gets its users to discuss their problems. The replies come from artificial intelligence and not from a therapist.
There used to be a time when funding seemed to be scarce. Founders were running after investors, and only the lucky ones would win the fundraising race. Today, however, founders have funding options at the table more accessible than ever before. Guy Galonska, Co-founder of Infarm, closed his interview at the web summit talking about the importance of having the right people on board and the right investors. Watch his interview here: https://www.youtube.com/watch?v=-tzUOxFExsY