Alibaba, the largest e-commerce company in China is rolling out a large investment fund for young people wanting to start a business. They are calling this venture the Alibaba Hong Kong Young Entrepreneurs Foundation. The company is looking to invest in both Hong Kong and Taiwan, with $306 million for the Taiwanese and $103 million for the prospective business owners in Hong Kong. They are looking to help those young people with dreams of starting their own companies, with the capital they need to get going.
They are looking to put these funds into only start ups or established small businesses so they can continue to grow and thrive with no worries of paying back loans or not getting the money in the first place. Besides the money that will be given to these young businesses, Alibaba is also looking to invest training and any technical assistance so they have all of the proper tools that they will need to succeed. Alibaba fully believes in the potential of young companies, though they are primarily looking to place their focus on those companies who are looking to be in retail.
With the whole foundation being non-profit, they will not be taking the money to use elsewhere. If there is any money left over from a company, or because something happened, that money will then be replaced back in the foundation’s account for further use for another company. The hope is that all thriving young minds will be able to use this foundation to get their hopes and dreams off of the ground with the capital needed to start that business. The capital will come from many sources, Alibaba and a Taiwanese bank being just two of them, but it will all go into the place; the foundation’s account for these young people.
While it may not be the only news that Hong Kong announced this week, it most certainly makes an impact. Starting businesses is one of the hardest things to do when you are young, no matter the country, and having this extra boost of help can make a lot of people happy. Not only that, but they will get all of the help needed to make sure that their company and their vision of the future has the most success that they can. Young entrepreneurs and small businesses of Taiwan and Hong Kong will now have a brighter outlook on their future.