Firms behind acclaimed tech summit net €450k profit after just two years

The business was only dreamed up in a Dublin bedroom a little over two years ago, but already the companies behind the Dublin Web Summit and F.ounders have recorded profits of over €450,000.

Entrepreneur Paddy Cosgrave is yet to turn 30 — that happens next month — but the two firms he co-owns with David Kelly have produced combined profits of €459,841 in their first 15 months in existence.

The Dublin Web Summit, Europe’s fastest growing technology conference, was first staged in 2010, attracting 500 attendees. Last year, that figure had grown to more than 4,200, including 350 tech company CEOs.