Slush 2023: AI Takes Center Stage as Tech Leaders Navigate Challenges with Diversity in Spotlight

From its humble beginnings as a modest assembly of like-minded individuals, Slush has undergone a remarkable evolution, blossoming into a dynamic series of captivating events scattered throughout Helsinki. Set to unfold at the Helsinki Expo and Convention Center from November 30 to December 1, 2023, Slush 2023 guarantees an exhilarating two-day affair, complete with stage programs, over 300 side events, mentoring sessions, meetings, and vibrant after parties.

“Slush is an important partner to the City of Helsinki in our efforts to attract new business, investments and experts to the city. The event has played a major role in increasing awareness of Helsinki and the city's vitality and attracting growth companies. Establishing new contacts and deepening existing ones is at the core of Slush cooperation, and we're very proud of the fact that Slush has consolidated its position as a significant international event in Helsinki," remarks Mayor of Helsinki Juhana Vartiainen.

Featuring an esteemed lineup of speakers, which includes successful founders, renowned investors, and influential figures in the startup and tech world, the event is set to become a melting pot of innovation and inspiration. Slush 2023 emerges as a focal point for those eager to champion the upcoming wave of exceptional founders. This year, TFN collaborated with Antler, providing exclusive coverage directly from the Nordic grounds and offering a firsthand look at the unfolding events. Now, let's explore the highlights of the first day.

As the first day of Slush comes to an end, a prevailing theme emerges among the thousands of founders and investors gathered in the Finnish capital – 2023 is undeniably the Year of AI. AI takes center stage not only in the main presentations but also in discussions within the investor lounge and media interviews.

Notably, the Founder Stage, Slush's largest venue, witnessed the highest attendance at two particularly engaging talks: Lightspeed Venture Partners' interview with Mistral co-founder Arthur Mensch and Thrive Capital's interview with Romain Huet, the Head of Developer Experience at OpenAI.

While we may not have entered a world where AI has fully realized its potential, AI startups have unmistakably become the new stars of the Slush agenda.

The industry is still grappling with the implications of the OpenAI drama, and there's a collective hope that regional players, such as Mistral, will take the lead in advancing AI technology in Europe. Questions abound regarding the practical use cases and business applications that will eventually turn the current hype into a tangible reality. Every founder at Slush is eager to establish their AI credentials, emphasizing that machine learning is intricately woven into the fabric of their product or platform to assure investors of its central role.

Beyond Artificial Intelligence

The majority of the content presented across Slush's four stages on the first day was centered on providing practical advice to founders navigating the ongoing tech downturn. Key topics included scaling companies, overcoming growth-related challenges, global expansion, and strategies for customer acquisition. Despite the buzz around AI and climatetech, there was a notable emphasis on founders grappling with the challenges of the downturn and a difficult funding environment.

Discussions on the main stage and conversations in the founder and investor lounges reflected an acknowledgment that times are tough. While the downturn is anticipated to persist into 2024, there exists a cautious sense of optimism. Today's insights highlight the downturn as a rigorous training ground. A relentless focus on revenue, traction, and cost management is seen as a formula for creating stronger and more resilient tech companies. The founders demonstrated their ability to survive in this environment and expressed readiness to expand when the market begins to recover.

In Atomico's presentation of this year's State of European Tech report, Tom Wehmeier highlighted that although the value of deals in European tech is still down, positive indicators of change are emerging. Record levels of talent, the resilience of early-stage companies, and the emergence of new founders from successful tech scale-ups were key takeaways. These signs suggest the groundwork is laid for a robust recovery toward the end of the next year.

Diversity & Inclusion

This year, the dedicated efforts of the Slush team are evident in their commitment to achieving increased representation for women on all stages, resulting in a more diverse array of attendees compared to previous years.

Nevertheless, the discourse around the necessity for greater diversity and inclusion across the European founder and venture capital (VC) ecosystem remained a prominent topic of conversation. Antler's Sarah Finegan took charge of facilitating a roundtable discussion for VCs, exploring actionable steps they can take to implement more effective inclusion strategies. This highlights a growing awareness of the industry's need for substantial action in fostering diversity.

The initiatives in Helsinki reflect a broader industry trend, where stakeholders are actively engaging in discussions and efforts to enhance diversity and inclusion within the startup and VC community.

Local Authorities Respond

“Helsinki gives early-stage startups a boost by providing them with coaching services and industry-specific incubator services in the fields of health technology, learning technology and innovative urban solutions. The City's focus areas also include close cooperation with higher education institutions. Business incubators are meeting places for top Finnish researchers, entrepreneurs, students with entrepreneurial spirit and the entire innovation and business community of the Helsinki Metropolitan