Alibaba Entrepreneurs Fund to host a pitching event in KL

By TMR / Pic By BLOOMBERG

MALAYSIAN start-uppers and young entrepreneurs can stand a chance to seize a combined US$5 million (RM20.6 million) investment commitment and US$100,000 in cash through Jumpstarter, if they qualify as the top five start-ups.

Jumpstarter is a start-up event organised by Hong Kong’s Alibaba Entrepreneurs Fund, which is a non-profit initiative launched by Alibaba Group Holding Ltd.

This year Jumpstarter, for the first time, is hosting a global pitch competition with events in Kuala Lumpur (KL), Hong Kong, Shenzhen, Shanghai, Beijing, London, San Francisco and Toronto.

The application for Malaysian start-ups started yesterday and ends Aug 2.

The aim is to connect global talents, start-ups and entrepreneurs with Jumpstarter’s highly competitive Hong Kong Grand Finale which will take place at the StartmeupHK Festival on Feb 11 and 12, 2020.

The event is in partnership with Invest Hong Kong (InvestHK), Hong Kong Exchanges and Clearing Ltd, Cyberport, and Hong Kong Science and Technology Parks Corp.

Jumpstarter will not only provide capital to winning start-ups, but also offer networking opportunities with top investors, corporates and other start-ups.

As a part of InvestHK’s StartmeupHK Festival, Jumpstarter provides a platform that brings start-ups, entrepreneurs, corporations and investors to build, empower and boost connections among different ecosystems and international tech hubs.

Top Jumpstarter companies will also get access to the Alibaba ecosystem to help them gain valuable insight, experience and resources to expand their businesses.

This third instalment is taking the event to a new level with the introduction of eight pitching events in Hong Kong and seven other international cities including KL, from Aug to Nov this year.

Each event is expected to host over 100 start-ups, and 40 finalists from these global locations will be given the opportunity to participate in the grand finale in Hong Kong in February 2020.

One of the highlights is a start-up competition featuring young companies from four sectors — retail, fintech, smart city and advanced technology.

For fintech start-ups that apply for the Jumpstarter competition, they will also be automatically entered into FintechHK Global Competition in Nov 2019 during the Hong Kong Fintech Week which is organised by InvestHK.

Alibaba Entrepreneurs Fund ED Cindy Chow said this year’s event attracted 10,000 attendees with over 600 business proposals.

“By substantially expanding the scale of the competition with start-up pitching events across the Asia-Pacific, Canada, Europe and the US, we are truly putting Jumpstarter on the global stage — welcoming incredible young entrepreneurs from around the world and connecting them with amazing opportunities.

“We look forward to empowering start-ups, regardless of their home base, and are excited to embark on new journeys together with them, leveraging the unique Hong Kong advantage. We hope to continue to foster an environment in the city that embraces entrepreneurial spirit, and we are ready to unleash the potential of innovations and entrepreneurship around the globe,” added Chow.

Interested parties can visit www.jumpstarter.hk for more information. — TMR