One of the world's fastest growing tech festivals, the European Webit expo, was due to be held in the city's marina from 17 to 20 June 2020 but was changed into a virtual event instead due to the pandemic.
The foundation said they originally chose Valencia for its "unique combination between history and future [and] big ambition to develop its role as the next hub for technology and innovation in Spain and Europe".
Their Chairman, Plamen Russev, explained, "we go to places not to take advantage of the developed ecosystem, but to help create and grow ecosystems and to establish the city, the country and the region as a talent and investment attractive hub. To build unfair advantage for them and to help them grow their regional and global footprint."
