Known as the "Davos for Geeks," the conference is holding its second edition in the Brazilian beach city, with more than 600 tech gurus, public personalities and other speakers joining entrepreneurs from more than 1,000 startups.

In a male-dominated industry, organizers said 45 percent of the startups represented this year were founded or are led by women, a record for Web Summit, which started in 2009.

Dozens of women tech entrepreneurs from countries including Argentina, Brazil, Portugal and Uruguay took the stage to applause as organizers opened the three-day event.

"Discussions at this year's event focus on technology's role in addressing crucial global issues, such as AI, fintech, climate change and human rights," said conference director Artur Pereira.

The gathering is "an opportunity for Web Summit to convene technology's leaders in Latin America's already dynamic and rapidly growing tech scene" and connect them with global players, he said.

Launched in Dublin 15 years ago, Web Summit moved to Lisbon in 2016. The Latin American edition is held in parallel with the original, which still convenes each November.

Organizers plan to hold the Rio edition at least through 2028. AFP is a media partner of the event this year.

The conference brings together startups with giants like IBM, BYD, Salesforce, Huawei and JP Morgan.

"Our mission is to transform Rio into the capital of innovation of Latin America," Rio Mayor Eduardo Paes said in his opening speech.

"We believe that tech and innovation can act as key drivers of Rio's economy."

Rio officials say the event will draw 40,000 people a day and inject some 33 million reais ($6.4 million) into the economy.

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