Doha, 14 March 2024

Alexandre Katrangi, founder and president of Licorne Gulf, has commended Qatar’s recent successful hosting of the first-ever Web Summit in the Middle East.

Talking to Editor, www.asiantelegraphqatar.com on the sidelines of the recently held Web Summit Qatar, he expressed his gratitude for being invited to the vibrant Web Summit, where technology giants, startups, and key investment players from around the world gathered under one roof.

Katrangi described the initiative as “magical”, emphasizing Qatar’s expertise in organizing such international events. Highlighting the flawless execution, from registration to reception and the logistics of the participating companies, Katrangi highlighted the excellence demonstrated by Qatar in
organizing events.

He suggested that repeating the Web Summit every six months would be beneficial, allowing local stakeholders to convene regularly.

Licorne Gulf, a family holdings and investment company operating in the GCC, including Qatar, Saudi Arabia, and Bahrain, as well as Switzerland and England in Europe, has dedicated 27 years to direct investments in companies. Their portfolio ranges from startups to Fortune 500 companies, with a proven track record in the GCC, Europe, and the United States.

Katrangi reported a significant success for his company during the Web Summit, where they directly invested in one of Qatar’s most successful and promising tech firms. He mentioned completing two joint
ventures with European and American companies earlier, securing a 25% stake in their creation and investment.

Commenting on the announcement of a new $1 billion fund for startup investments by the Prime Minister and Foreign Minister of the State of Qatar, Katrangi said he considered it a major step forward for the ecosystem. He said the fund would boost local companies and foster partnerships with international firms. He hopes to play his role in this initiative.

Expressing appreciation for Qatar’s business-friendly environment, Katrangi acknowledged the efforts of QFC and QFZ, providing advantageous conditions for company registration during the summit.

He highlighted the absence of corporate tax, tax on dividends, and VAT in Qatar, noting that these factors significantly contribute to the development of entities invested worldwide.

During its participation in this world’s largest technology conference, Qatar Financial Center (QFC) offered a unique opportunity for companies to register and obtain license to do business in Qatar on the spot in addition to exclusive benefits, including waived registration fees and annual fees for the first five years, and a tax exemption in line with international standards.

During the Summit, QFC managed to attract more than 100 companies operating in various industries, including finance, digital, and fintech, to enter the Qatari market, one of the leading investment destinations in the region.

As a foreign investor in the region, Katrangi extended his gratitude to the Qatari authorities for their warm welcome and for providing entrepreneur-friendly facilities.

The first-ever Web Summit in the Middle East hosted by Qatar was attended by 15,453 people from 118 countries. The summit witnessed the participation of 1,043 startups, the largest gathering ever in the
Middle East, in addition to 401 investors and 380 speakers, while 148 partners exhibited including Microsoft, Meta, TikTok, Snap, and Qatar Investment Authority.

Prime Minister and Foreign Minister of the State of Qatar HE Sheikh Mohammed bin Abdulrahman      Al Thani; author and presenter Trevor Noah; Web Summit CEO Katherine Maher; and Sheikh Jassim bin Mansour bin Jabor Al Thani, Director of the Government Communications Office and Chairman of the Web Summit Qatar 2024 Organizing Committee, addressed the audience on the opening night.

The attendees included 37% women, 30% women speakers and 31% women-founded start-ups.

The next Web Summit in Qatar is scheduled to take place from 23-26 February 2025 at the Doha Exhibition and Convention Center.