The celebration of VDS, the internationally renowned conference on innovation and technology, generated an economic impact of €20.3 million for the Valencian economy in its seventh edition, according to the report presented today by EY (Ernst & Young) at Valencia City Hall.
The study reflects a 64% increase compared to the 2023 edition, when the impact amounted to €12.3 million, and highlights the strategic role of the event as a driver of economic momentum and international investment attraction.
During the presentation, the Mayor of Valencia, María José Catalá, stated that “the Valencian tech sector is experiencing its best moment, and a clear example of this is the investment generated by startups and innovative companies thanks to VDS, which has already become the leading tech event in Europe.”
The report presentation was attended by María José Catalá, Mayor of Valencia; Juan Luis Hortelano, President of Startup Valencia; Paula Llobet, Valencia’s City Councillor for Innovation; Nacho Mas, CEO of Startup Valencia; and David Samu, Partner at EY-Parthenon.
Juan Luis Hortelano, President of Startup Valencia, explained that “VDS has established itself as one of the most prominent tech conferences at international level, enabling strategic connections between startups, investors, and corporations.” He added that “its growing economic impact and its ability to attract talent and investment are positioning Valencia as a leading global tech hub.”
For his part, David Samu, Partner at EY-Parthenon, noted that “the study confirms the economic return of the event, with an estimated multiplier effect of x7.4, and its role as a driver of innovation, employment, and socio-economic development, with an employment generation equivalent to 1,853 full-time jobs per month.”
According to EY’s report, VDS 2024 acted as a powerful catalyst for investment. It is estimated that participating startups could raise more than €480 million in funding thanks to the opportunities generated during the event. Since 2018, startups linked to the summit have raised over €18.4 billion, reinforcing the strategic role of VDS in the evolution of the global tech ecosystem.
The seventh edition of VDS, held in October 2024, broke records in terms of international reach. Of the 12,000 professionals who attended the event, more than 4,000 came from abroad, representing 110 different countries. In addition, the event attracted over 3,000 startups and more than 700 investors, with portfolios exceeding €250 billion in assets under management.
These figures explain the 64% growth in economic value generated compared to 2023, when the impact reached €12.3 million. EY’s analysis attributes this progress to several key factors: the increase in international attendees (from 20% in 2023 to 35% in 2024), the improved investor profile, and the significant rise in the number of participating startups (from 1,200 in 2023 to over 3,000 in 2024).
The report breaks down the €20.3 million impact into €2.7 million in direct impact, €14 million in indirect impact, and €3.5 million in induced impact, with a total GDP effect of €9.3 million. The average economic value generated per attendee was €1,672.
Beyond the figures, VDS 2024 also stood out for the quality of its content and speakers. Among the 600 international experts who participated were Steve Chen, co-founder of YouTube; Randi Zuckerberg, founder and CEO of Zuckerberg Media and HUG; Juan Antonio Samaranch, Vice President of the International Olympic Committee; Constantijn van Oranje, Special Envoy at Techleap; and Diana Morant, Spain’s Minister of Science, Innovation and Universities.
You can read the full report by clicking here.
