Alibaba has unveiled the Co-Create Pitch Awards, an innovation competition offering £750,000 for small and medium-sized enterprises (SMEs) in the UK and Europe. The initiative, aimed at bolstering digital entrepreneurship, invites participants to submit product ideas via social media or an online form. Notably, the competition culminates in live pitches at major trade events in Las Vegas and London. The expansion into Europe is part of Alibaba's wider strategy to enhance its B2B platform and meet the growing demand for global digital sourcing, driven by a significant increase in product sales from European suppliers.
Kuo Zhang, President of Alibaba.com, stated that opening the competition to European entrepreneurs reflects the company’s commitment to supporting innovation within SMEs.
Liz Wang emphasized that the 'can-do' spirit of SMEs inspires Alibaba's Co-Create initiative, highlighting their role in cross-border trade.
#alibaba #innovation-competition #small-and-medium-enterprises #digital-entrepreneurship #global-trade
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