Startups Attend the World Economic Forum in Davos

When members of the general public think about the World Economic Forum, the annual conference of world leaders and dealmakers that takes place in the Swiss city of Davos, we generally picture back-room deals with heads of state canoodling with multinational corporations, celebrities moralizing on the threats of climate change and other global problems, or even the surrounding mountains twinkling with fresh coats of fluffy precipitation. And while those images may be accurate, in recent years the lavish dinners and carefully-timed meetings associated with the Forum are no longer the exclusive territory of the global elite.

In an article in the New York Times, Stacy Cowley tells us that every year, a few dozen startups receive one of only 2,500 invitations to attend the international event. With that coveted invitation comes a chance to network with some of the world's biggest movers and shakers, both in the boardroom and through social activities. One of this year's more exciting opportunities giving young entrepreneurs a chance to attend is the Technology Pioneers program. Since 2000, the Technology Pioneers' impressive selection committee picks roughly 30 companies, all of which address challenges in fields such as medtech, fintech, digital security and energy, to attend the Forum. This year, 49 companies were chosen from around the world, including EpiBone, a tiny biotech company in Brooklyn that currently operates with only eight staff members.

The World Economic Forum also operates something called the Forum of Young Global Leaders, which offers another, though more prestigious, way for young people to get invited to Davos. If invited to attend, selected Young Global Leaders (YGL) are given the opportunity to participate in the World Economic Forum's meetings and initiatives, as well as participate in year-long research projects and interact with the World Economic Forum's wider community. Past YGLs have included Mark Zuckerberg of Facebook, Larry Page of Alphabet (Google's parent company) and Tony Hsieh of Zappos.

Attending the World Economic Forum isn't cheap and corporate participants are regularly charged fees that can surpass US$100,000. However, for young entrepreneurs lucky enough to get an invitation, the fee is often waived and those who get invited through the Technology Pioneers often pay a sliding-scale fee based on their company's revenue.

What potential deals or trade agreements emerge from this year's World Economic Forum remain to be seen. However, for entrepreneurs with ambitions to see next year's Forum first-hand, why not apply to the 2017 Technology Pioneers program? Applications can be submitted here.