Among all comparable conferences, Slush stands out as a resolutely start-up-focused event.
The entire experience revolves around creating opportunities for entrepreneurs to connect with investors, learn from seasoned founders, and gain insights from renowned investment firms like Sequoia Capital on scaling their ventures.
This year marked my second visit to Helsinki, with my first being in 2018—and the differences were striking.
While the earlier event resembled a bustling marketplace, where start-ups showcased their products, this year felt distinctly different. The focus seemed to shift towards delivering maximum value to entrepreneurs, helping them grow and thrive.
For attendees, Slush remains unparalleled in its ability to gather a diverse array of start-ups and entrepreneurs in an environment that fosters meaningful networking and dialogue.
Day 1: Cybersecurity in Focus
On the first day, I noticed a heavy emphasis on IT security platforms. Perhaps unsurprisingly, in an age rife with automated attacks, deepfakes, phishing, and malware, cybersecurity start-ups are more vital than ever. While this focus is necessary, I found myself eager for more variety.
Day 2: Innovation Beyond IT
The second day brought the variety I was hoping for. Start-ups from a broader range of industries took the spotlight, showcasing innovative ideas that truly captured the imagination.
For instance, I encountered Swöm, a Danish start-up that developed a bathing suit designed to prevent small children from drowning. Across from them, Arctic Farming, a Finnish start-up, showcased its vertical farming solution for restaurants, utilizing nutrient-rich fog. Belgium also made a strong impression with companies like Dripl, which is reimagining soft drinks for workplaces.
However, some notable absences stood out. The UK, for example, was represented by only one Welsh company, whereas Germany, Switzerland, and Italy featured prominently with popular booths and several participating start-ups.
Emerging Trends and Observations
Identifying key trends at Slush 2024 proved challenging, but a few themes emerged:
Cybersecurity Dominance: As expected, IT security continues to be a consistent growth area, reflecting current global challenges.
Sustainability Maturity: Unlike in previous years, sustainability wasn’t highlighted as a groundbreaking innovation. Instead, it appeared as a fundamental "must-have" for start-ups, signalling its evolution into a baseline expectation rather than a unique selling point.
Decline in Hardware Start-Ups: There were noticeably fewer hardware-focused companies this year. Instead, the spotlight shifted to platforms and services, likely reflecting the complexities of bringing physical products to market.
That said, some exceptions bucked this trend. For instance, Oura, the health-tracking wearable ring, was a standout. Back in 2018, it was a young start-up with a modest booth. Fast forward to 2024, its founder, Petteri Lahtela, graced the main stage, sharing Oura’s remarkable journey to a $5 billion valuation. I was struck by his steadfast belief in the importance of every feature having to add value to the customer. I still couldn’t quite convince myself to buy one though…
The Power of Culture
One of the most significant themes at the conference was company culture. It emerged as a central topic in various talks and roundtables. Many successful founders emphasized the critical role of team selection and the deliberate cultivation of a strong company culture in driving long-term success.
Slush is a unique event. The Finnish culture of innovation is plain to see at this annual event. I am reminded that so many game changing companies have come from Finland over the last 25 years. Nokia, Wolt, Suunto, Rovio (angry birds, clash of clans) – and looking slightly further afield to the Nordics as a whole, we can point to Spotify, Skype, Minecraft, Oatly and so many more.
Walking around the stands, enjoying random conversations and chance meetings I felt inspired by both the event and the people. With events like Slush, and the entrepreneurs it supports, I feel confident that the future of innovation is looking bright for Europe.
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