Alibaba.com Announces 50 Small Businesses Receiving US$10,000 Grants to Catalyze Entrepreneur Economy
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50 U.S. entrepreneur recipients representing all US regions across a variety of industries - including beauty and self-care, consumer goods, food, technology and more - are receiving grants to support their success
NEW YORK--(BUSINESS WIRE)--
Alibaba.com, one of the world’s largest B2B ecommerce marketplaces and a business unit of Alibaba Group (NYSE: BABA, HKEX:9988), today announced the 50 entrepreneurs each receiving $10,000 grants from the first-ever Alibaba.com Grants Program. A total of $500,000 in grant support will fuel new participants in the Entrepreneur Economy. Recipients were selected from a pool of more than 12,000 applicants who submitted their product idea or go-to-market strategy for consideration by Alibaba.com’s panel of expert judges.
The Alibaba.com Grants Program, created in partnership with Hello Alice, the largest community of underrepresented entrepreneurs in the U.S., aims to support today’s Entrepreneur Economy by providing much-needed capital and resources to New Digital Entrepreneurs who are starting businesses online. 44% of these New Digital Entrepreneurs say they needed $5,000 or less in the first six months of launching their business and program applicants underscored this need in their applications, citing raising capital as their top business challenge of 2021. In addition to the opportunity for grants, the thousands of applicants all have access to the Alibaba.com Digitization Sprint for Retailers, gaining valuable insight into ecommerce basics like sourcing, digital advertising and supply chain management.
“Today’s New Digital Entrepreneurs are erasing the boundaries of what’s possible and changing the way we think, work and live,” said John Caplan, President of North America and Europe of Alibaba.com and judging panel member. “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. We can’t wait to see what these entrepreneurs accomplish.”
The group of 50 grant recipients includes entrepreneurs from diverse backgrounds and walks of life.
“Starting a business is challenging no matter the circumstances,” said Elizabeth Gore, President and Co-founder of Hello Alice. “But we know certain socioeconomic factors can make the entrepreneurial journey even more difficult. That’s why we’re proud to share that almost 80% of the Alibaba.com Grants Program recipients are people of color and about 78% are women entrepreneurs. Importantly, almost 90% of recipients shared that the vast majority of their teams hail from historically underrepresented groups, including persons with disabilities, military veterans and LGBTQ+.”
The 50 Alibaba.com Grants Program recipients include entrepreneurs with business plans to help create a more healthy, sustainable, beautiful, knowledgeable or equitable world.
“I represent a sector of socially and economically disadvantaged entrepreneurs who are ditching disparities in the 9-to-5 workforce and pursuing entrepreneurship to create a better quality of life for themselves and their families,” said Tenita Strand, owner of Alabama-based Status Co, a leather accessories studio. “My trajectory also inspires others how to start a business on a shoestring budget and access resources to grow a reputable, stable company.”
“Being a part of the Entrepreneur Economy means that a person such as myself, who would have not been given this opportunity years ago, now has the ability to make a difference in this society and in this world,” said Sierra Williams, owner of SHE Support Heal Empower, a solopreneur focused on postpartum products for women of color. “It means that while there is an opportunity for me to grow, there is also the opportunity to lift others up with me so that more people can make an impact for our future and present generations.”
Following the close of the application period in late October, applications were evaluated by Alibaba.com’s expert judging panel from across the ecommerce ecosystem. Each judge brings a diversity of perspectives to the application review process and included:
John Caplan, President of North America and Europe of Alibaba.com
Elizabeth Gore, President and Co-founder of Hello Alice
TJ Hyland, Director of Global Partnerships at Elevate Brands
Ines Belakhdar, Founder and CEO of conscious fashion retailer Bynes NY
Tatiana James, entrepreneur and ecommerce expert
Applications were reviewed based on the entrepreneur’s demonstration of the market opportunity, the business model/product innovation, and their plans for using the funds to grow their business.
Here are the 50 entrepreneur recipients of the Alibaba.com Grants Program:
The first business unit of Alibaba Group, Alibaba.com is a leading platform for global B2B e-commerce that aims to make it easy to do business anywhere. Launched in 1999, Alibaba.com is engaged in services covering all aspects of commerce, including providing businesses with tools that help reach a global audience for their products and helping buyers discover products, find suppliers, and place orders online fast and efficiently. It serves millions of buyers and suppliers from over 200 countries and regions around the world.
About Alibaba Group
Alibaba Group's mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.
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