More than 1,000 start-ups exhibited at CES and Eric Dauchy explained the startup scene at the event
Yes, CES, world’s largest consumer show, ended on Jan 8. More than 3,200 exhibitors attended the CES from across 173 regions and countries. On the other hand, 4,700+ journalists are registered to cover the event. CES seems like an ideal floor for consumer electronics but start-ups were also a part of the event, showcasing their products and solutions to the global audience. More than 1,000 startups exhibited at CES at Venetian Expo. To evaluate the event, I came together with Eric Dauchy, CEO at The Constellation Group, who visited the CES as well as Eureka Park in person. “With COVID restrictions now behind us, international visitors also were massively present with 40,000 visitors from outside the USA at the show – giving CES the necessary breath of fresh air it desperately needed,” said Dauchy.
-I know there are 1000+ startups exhibiting at Eureka Park. What type of startups are dominating Eureka Park?
Countrywise Korea is in effect present with the largest contingent start-ups and scale-ups at Eureka Park. One third of the 1,000 startups are from S Korea this year. France is with their usual 200+ companies second, followed by The Netherlands and Italy, resp with 50 and 70 companies.
In terms of verticals, Healthcare topped the charts with solutions for Big Data, AI, Transportation also very prevalent.
-As you compare Eureka Park with previous years, what kind of changes did you observe?
This year was the year of “We are Back!”. The jump from 1,000 exhibitors in 2022 to 3,100 this year with 115,000 professionals instead of 45,000 last year, made all the difference. With COVID restrictions now behind us, international visitors also were massively present with 40,000 visitors from outside the USA at the show – giving CES the necessary breath of fresh air it desperately needed. The general atmosphere at the show was also very upbeat, optimistic and people were genuinely happy to meet in-person again. The networking aspect of CES is one of the key success stories of CES, every year.
-Do you think Eureka Park has contribution on the global startup ecosystem? If yes, can you mention your reasons?
Absolutely. As stated earlier, the international presence of start-ups makes for a great networking platform with VCs, tech companies looking for smart solutions to their current issues, distributors wanting to sign up the next consumer tech product,…That networking platform is unique in the world. Only at CES will you find that many opportunities to present yourself and your company to US, European, Latin American and Asian companies, investors and the like. Your flight ticket to Vegas brings a return on that investment many times if you compare with the price of travel you’d need to do around the world to meet so many potential partners. And at CES, they are there, in a single place.
-Some data show that 2023 will be tough year for VCs due to global economic downturn concerns. How do those concerns will affect start-ups?
That is correct. As you check the data from Crunchbase, North American startup investment fell down in the fourth quarter , closing out 2022 with funding far below the 2021’s record-setting levels.
In total, investors put $36.1 billion to work across all stages in Q4, according to Crunchbase. That’s a 63% decline from a year ago and a 10% drop from third-quarter 2022.
On the other hand, global venture funding in 2022 reached $445 billion , which is 35% decline year over year from the $681 billion invested in 2021.
What do you recommend to start-ups in such an economic outlook?
Keep going. You are on a journey doing the thing you are doing best. Conviction, perseverance will see the winners come through difficult times and get the success they deserve. You may stumble, everyone does, stand up and keep going. That is the simple reality.