Asian entrepreneurs graduate from UNCTAD and Alibaba’s eFounders Fellowship Program

MANILA, Philippines — The first class of Asian entrepreneurs have graduated from the eFounders Fellowship at a ceremony in Hangzhou, China. The program, a joint initiative by the United Nations Conference on Trade and Development (UNCTAD) and Alibaba Business School, aims to enable young entrepreneurs to unlock their full potential and to bridge the digital divide.

With the conclusion of the second eFounders program, Alibaba is now another step closer to fulfilling the commitment made by Jack Ma, founder and executive chairman of Alibaba Group, in his capacity as the UNCTAD Special Adviser for Young Entrepreneurs and Small Business. Over the next five years, Alibaba and UNCTAD will help empower 1,000 entrepreneurs in developing countries to use digital transformation for more inclusive and sustainable economic development.

“The energetic spirit and creativity of these young entrepreneurs and the altruistic approach they demonstrate in supporting the Sustainable Development Goals is encouraging,” Arlette Verploegh, UNCTAD’s coordinator for the eFounders Initiative, said.

“Their stories are truly inspirational and provide real-life examples that the young generation can use new technologies to generate economic opportunities for the benefit of their communities,” Verploegh added. 

Throughout the 11-day program, Asian entrepreneurs gained first-hand insights, participated in field visits and attended lectures to understand the digital transformation that has swept China during the last 20 years.

Using Alibaba as the study model, as well as attending meetings with and tours of local incubators and e-commerce business schools, the participants analyzed Alibaba’s ecosystem of platforms and solutions including Taobao Marketplace, Tmall, Alibaba.com, Cainiao Network, Hema and Fliggy, as well as recent industry trends and developments such as New Retail, rural e-commerce and the emergence of Internet celebrities.

At the conclusion of the intensive 11-day program, participants were challenged to share how they plan to impart their new-found insights in e-commerce, e-finance and payments, smart logistics, big data and tourism to fellow entrepreneurs and their communities at home, and formulate improvements to their business ideas.