First Phase of Athlete365 Business Accelerator Programme Is Launched with Support from Alibaba.com

Rhea-AI Summary

Alibaba.com and the International Olympic Committee (IOC) have launched the fourth edition of the Athlete365 Business Accelerator programme, aimed at helping athletes transition into entrepreneurship. The program attracted hundreds of applications globally, with 38% from Europe, 20% from Africa, and 17% from North America. Of the applicants, 55% are former Olympians and 46% are active athletes. The initiative includes educational tools, mentoring services, and funding, featuring AI-powered tools for global sourcing and B2B export. The program begins December 3rd with a masterclass by two-time Olympian Tony Parker, followed by online lessons and virtual bootcamps starting December 9th.

Positive

• Partnership with IOC enhances Alibaba's brand presence in the Olympic ecosystem
• Program expands Alibaba's B2B marketplace reach to new potential entrepreneurs
• Integration of AI tools showcases Alibaba's technological capabilities

Negative

• None.

Olympian and successful entrepreneur Tony Parker, as Alibaba.com's global brand ambassador, teaches Masterclass for aspiring entrepreneurs

GENEVA, Dec. 2, 2024 /PRNewswire/ -- The International Olympic Committee (IOC), in collaboration with Alibaba.com, has officially launched the first phase of the fourth edition of the Athlete365 Business Accelerator programme, which aims to empower current and former elite athletes to transfer their skills into successful business ventures. Alibaba.com is the first worldwide Olympic and Paralympic e-Commerce Services partner to support this initiative.

The Athlete365 Business Accelerator is a unique business incubator designed to empower current and former elite athletes from all backgrounds with the skills to build and manage their own businesses. In support of the programme's latest edition, Alibaba.com will provide participating athletes with educational tools, mentoring services and funding.

This year's edition has attracted applications from several hundred athletes from around the world. Just over a third (38%) are from Europe, 20% are from Africa, 17% from North America, 13% from APAC, and 12% from South America. More than half (55%) of these athletes represented their country at the Olympics in the past, whilst 46% are still competing and would like to become an entrepreneur at the same time.

In terms of their entrepreneurial ambitions, 56% of applicants already have a business idea, whilst 17% have made a first prototype of their business solution. More than one in ten (12%) already have a business which generates stable revenues.

The fourth edition of the programme, which will launch in multiple phases, will build participants' knowledge of business-critical areas and the fundamentals of e-commerce and global trade, including global sourcing and business-to-business (B2B) export through digital marketplaces. Participants will also acquire knowledge of Alibaba.com's artificial intelligence (AI) tools, which are transforming how small and medium-sized enterprises (SMEs) source products and connect with suppliers globally. Using the AI tools, buyers can search for products using a combination of videos, images and words and communicate naturally and intuitively with suppliers in their own language. This makes the sourcing process more straightforward and efficient, turning their product vision into a reality.

The programme this year will commence on 3 December with an open-access masterclass by Alibaba.com's global brand ambassador Tony Parker, a two-time Olympian and successful entrepreneur, which will be open to anyone interested in hearing about his journey from a world-class athlete to a successful entrepreneur. This will be followed by a series of online lessons and virtual bootcamps, starting on 9 December, and one-to-one mentoring with experts from Alibaba.com, aimed at equipping athletes with the knowledge of developing an idea and business model as well as e-commerce fundamentals.

Alibaba.com data reveals that nearly two-thirds (63%) of former athletes struggle to find a new career after sports. By participating in the programme, Alibaba.com partners with the IOC to support athletes during and after their sports careers, creating opportunities for them to transition into entrepreneurship and leverage their skills to achieve success beyond the field.

Anne-Sophie Voumard, Managing Director of IOC Television & Marketing Services, added: "Our Worldwide Olympic Partners play a vital role in supporting athletes at every stage of their journey. Through initiatives like the Athlete365 Business Accelerator, we are harnessing the expertise and resources of Partners like Alibaba.com to empower athletes with skills and opportunities that extend beyond their sporting careers. This programme reflects the shared commitment of the IOC and its Partners to help athletes succeed, both on and off the field of play."

Kuo Zhang, President, Alibaba.com, said: "Successful athletes and entrepreneurs share similar characteristics. Both have unrivalled grit and determination, a willingness to succeed, and an appetite to take risks. However, after their sporting successes, athletes often struggle to find their feet with a new career. At Alibaba.com, we want to make a transition into the world of e-commerce and entrepreneurship easy and are proud to participate in the Athlete365 Business Accelerator programme by providing practical tools and guidance on how to take part in global trade."

For more information, see https://olympics.com/athlete365/offers/business-accelerator/become-an-entrepreneur-with-the-athlete365-business-accelerator

Athlete365 is the official community for elite Athletes and Olympians which provides support through relevant advice, tools and services.

About Alibaba.com

Launched in 1999, Alibaba.com is a leading platform for global business-to-business (B2B) e-commerce that serves buyers and suppliers from over 200 countries and regions around the world. It is engaged in services covering various aspects of commerce, including providing businesses with tools that help them reach a global audience for their products and helping buyers discover products, find suppliers and place orders online fast and efficiently. Alibaba.com is part of Alibaba International Digital Commerce Group.

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SOURCE Alibaba.com

FAQ

When does the 2024 Athlete365 Business Accelerator Programme by Alibaba (BABA) start?

The program starts on December 3, 2024, with a masterclass by Tony Parker, followed by online lessons and virtual bootcamps beginning December 9, 2024.

What percentage of applicants in Alibaba's (BABA) Athlete365 program are former Olympians?

55% of the program applicants represented their country at the Olympics in the past.

How many athletes in Alibaba's (BABA) Athlete365 program already have business ideas?

56% of applicants already have a business idea, while 17% have made a first prototype of their business solution.