Big Tech And Virtual Events. It’s Finally Happening?

Big Tech And Virtual Events. It’s Finally Happening?

What do Google, Amazon, Facebook, Microso, Spofy, and Airbnb have in common these days?

By Marco Giberti, Founder and CEO of Vesuvio Ventures

What do Google, Amazon, Facebook, Microso, Spofy, Zoom and Airbnb have in common these days?

Well, in some way or the other, all of them are experimenng with Virtual Events Experiences. Aer decades of almost ignoring virtual events, it seems that now many of the big tech guys have begun paying aenon.

Airbnb launched Experiences in April 2020, and, since then, they are growing this concept and helping many creators connect with customers. Google Area 120 in house incubator presented Fundo, and Amazon announced Explore in September and Zoom just announced OnZoom.

I already wrote about excing eventrelated iniaves from Linkedin, Alibaba, Tencent, and Spofy this year. And, the list connues, including some B2B and B2C concepts.

I was talking with a prey big event organizer CEO this week about some of these big tech companies’ investments and launches, and his immediate reacon was, “Tech companies do not understand live events. They simply don’t get it, and, we’ve seen similar experiences in the past, failing miserably.” And I think that he is not the only one thinking that way.

I have a prey different point of view. I believe that, at some point, probably sooner than later, some of these big tech companies will “get it,” and things will begin to change. Or, some smart entrepreneurs will take advantage of being small and fast, and they will figure it out and be acquired by any of these big companies for massive acceleraon or raise enough capital to scale into one of the next unicorns in the tech world.

We are experiencing dramac changes in the live events industry, and, we are rethinking which specific experiences should be done face to face or only online. This is the me to innovate or die. Innovaon and tech are no longer a luxury for the live events world, regardless of whether your events are just online, offline, or hybrid.

I’m convinced of the unique connecon that live events generate on their audiences and have wrien many mes about this in the past. Let me repeat this concept (again). Tech will not replace live events. But, I’m also convinced of the potenal disrupon and transformaon that technology could and should bring to our industry. If you are part of the live events industry, you should benefit from these big tech players’ entrance into the category. You will see a fresh perspecve and different value proposions for creators, organizers, sponsors, and aendees. It’s not going to be perfect in the short term. It took decades for some of these big tech companies to validate their inial products, and it’s probably going to take many years in this case as well.

For smart event organizers, all these tech tools and plaorms should be great news instead of challenges or threats. For industry dinosaurs, it’s probably another nail in their coffin. For innovave entrepreneurs building startups in this sector, it will certainly help to have the venture capital world’s aenon now that all the big guys are paying aenon and acquiring successful startups in the future. But more importantly, this is great news for everyone that parcipates, enjoys, and benefits from events.

Because of great tech, events will be beer, more producve, and more fun to parcipate in. Events will probably start online and move to offline acvaons to later go back online again. Communies will interact through the combinaon of virtual and face to face experiences in ways that will increase their return on investments and improve efficiencies. If you work (or want to work) in the live events industry, you should pay aenon to big and small tech players innovang in the space. You should learn digital and tech skills as soon as possible to be relevant to your company. And you should not be afraid. You must be proacve instead of reacve and start engaging with tech generang change now. Actually, let’s be honest, you should have started years ago, but it is beer to start now rather than never :). It’s not too late if you are ready to unlearn and learn again, and, there is a massive opportunity ahead of us. For those of you that want to invest (Angel investors, VC’s, Corporate Venture, or Private Equity) in the event tech space, ming is in your favor. And for those of you who are brave enough to launch startups in the event tech space, there are sll many problems waing to be fixed and technology will be a crical part of the soluon.

I hope that we can all learn some valuable lessons from big tech experimenng in our industry. We will remember 2020 as the year where many great event tech products and startups were created. As Winston Churchill was working to form the United Naons aer WWII, he famously said, “Never let a good crisis go to waste.” Well, this is a prey good crisis for the live events industry, and, some people are ready to take advantage.

HML Welcomes Hong Kong Government’s Announcement To Launch Convenon And Exhibion Industry Subsidy Scheme

ong Kong Convenon and Exhibion HCentre (Management) Limited convenon and exhibion industry has been set up under the Government's such, many internaonal exhibions and convenons originally scheduled for the ("HML") has welcomed the An-epidemic Fund. Originally slated to second half of 2020 have been postponed announcement that the Hong Kong SAR be launched in July 2020, it was or cancelled. Mega exhibions typically Government will launch the Convenon postponed following the third wave of have long planning lead-mes, and reand Exhibion Industry Subsidy Scheme the pandemic in the city, which caused launching them before the October 2021 (“Subsidy Scheme”) on 3rd October 2020. the postponement of convenons and deadline for the Subsidy Scheme may HML Managing Director Ms Monica Lee- exhibions that were originally scheduled prove challenging. However, we believe Müller said, 'The Government's launch of to take place from mid-July to September. that once the pandemic is under control, the Subsidy Scheme in early October will The Subsidy Scheme offers to cover a exhibion and convenon oganisers will help ease financial burdens on the local 100% venue rental cost for organisers of waste no me bringing exhibions back convenon and exhibion industry and exhibions and internaonal convenons onto their event calendars. help it aract domesc and overseas held at the Hong Kong Convenon and exhibitors, buyers and conference Exhibion Centre and AsiaWorld-Expo. To ensure that mega exhibions and delegates to Hong Kong, strengthening internaonal convenons return to Hong the city's compeveness as the region's Ms Lee-Müller added, 'With the on-going Kong aer the pandemic, the industry will leading convenon and exhibion hub.' pandemic situaon overseas, countries connue to communicate closely with the are connuously updang their inbound Government so that mely acons can be The HK$1,020 million (US$131 million) and outbound travel restricons and taken to maximise the impact of the Subsidy Scheme to reinvigorate the compulsory quaranne requirements. As Subsidy Scheme.'

IAEE Updates Essenal Consideraons for Safely Reopening Exhibions and Events White Paper

The Internaonal Associaon of Exhibions and Events® (IAEE) has Essenal Consideraons for Safely Reopening Exhibions and Events, 2nd Appointed Contractors Associaon (EACA); Global Biorisk Advisory Council updated its white paper, Essenal Edion includes enhancements in the (GBAC), a division of Internaonal Consideraons for Safely Reopening following areas: Sanitary Supply Associaon (ISSA); Exhibions and Events, which was Ÿ Insurance consideraons Internaonal Associaon of Venue originally released this past June to provide general informaon for consideraon by exhibion organizers when planning for and producing an Ÿ Ÿ Ÿ Ÿ Travel consideraons New FAQs throughout the paper Updated content on force majeure in legal secon Enhanced risk assessment secons Managers (IAVM); Society of Independent Show Organizers (SISO); and United Brotherhood of Carpenters and Joiners of America. exhibion during a pandemic. “IAEE's Health and Safety Task Force has been diligent in its commitment to help show organizers and event professionals create a safe environment as we return Ÿ Ÿ Addion of images from shows that have taken place since the first edion Addional updates from EDPA, ESCA and GBAC Essenal Consideraons for Safely Reopening Exhibions and Events, 2nd Edion focuses on the following topics: Ÿ General Principles for Health and Safety Operaons to face-to-face exhibions and events,” Supporng organizaons to Essenal Ÿ Communicaon, Educaon and said IAEE President & CEO David DuBois, CMP, CAE, FASAE, CTA. “The updates made to the Essenal Consideraons for Safely Reopening Exhibions and Events Consideraons for Safely Reopening Exhibions and Events include the Experienal Designers and Producers Associaon (EDPA); Exhibion Services & Ÿ Ÿ Ÿ Awareness Exhibion and Event Operaons Convenon Centre/Venue Cleaning Prevenon Measures Legal and Insurance Consideraons white paper reflect new developments Contractors Associaon (ESCA); Exhibitor Ÿ Travel Consideraons that benefit our industry's recovery. ”