Alibaba cited a 2019 survey from Kabbage that found that 44% of digital entrepreneurs said they needed $5,000 or less within the first six months of launching their business. The e-commerce giant also noted that program applicants said raising capital was one of their top business obstacles in 2021.
“At Alibaba.com, it’s our mission to make it easy for businesses to do business anywhere, which is why it’s an honor to support this group of incredibly inspiring entrepreneurs with start-up capital to catalyze their businesses and grow on their own terms,” John Caplan, Alibaba.com president of North America and Europe and judging panel member, said in a statement.
