‘I apologise deeply' – Web Summit founder U-turns after investor backlash over Israel comments

The founder of the Web Summit tech conference has apologised after scores of investors threatened to withdraw from the conference over his comments on Israel, just hours after doubling down on the remarks and saying he ‘will not relent’.

Paddy Cosgrave, who founded Web Summit in 2009, last week expressed his “shock” over Western support for Israeli intervention in Gaza, which he suggested amounted to a war crime.

“War crimes are war crimes even when committed by allies and should be called out for what they are,” Cosgrave said. He also liked a number of social media posts comparing Israel action in Gaza to a genocide.

Cosgrave’s remarks were condemned by dozens of tech investors, who threatened to pull out from Web Summit’s November conference, while Israel’s ambassador to Portugal, Dor Shapira, called the comments “outrageous” and urged more companies to withdraw.

“Even during these difficult times, he is unable to set aside his extreme political views and denounce the Hamas terrorist activities against innocent people,” he said.

“We should have zero tolerance to terrorist and terror acts.”

Cosgrave today issued an apology over his comments. In a statement posted to the Web Summit website he said: “I understand that what I said, the timing of what I said, and the way it has been presented has caused profound hurt to many. To anyone who was hurt by my words, I apologise deeply.

“What is needed at this time is compassion, and I did not convey that. Web Summit has a long history of partnership with Israel and its tech firms, and I am deeply regretful that those friends were hurt by any of what I said.”

Just hours earlier, Cosgrave appeared to double down on his remarks, blasting that there had been “extreme over reaction” by investors and that he was “proud” of what he “repeatedly stated.”

“Trying to cancel a truly global gathering that has always stood for peace and prosperity is not just naive, it’s counter productive,” he said on social media site X, adding that he was introducing new speakers to the conference to discuss “international human rights law and peace.”

Cosgrave said only nine investors had pulled out of Web Summit, which had been outpaced by the number of new registrations.