Thirty-eight entrepreneurs from Asia have successfully finished the fourth eFounders Fellowship program. This joint effort between the United Nations Conference on Trade and Development (UNCTAD) and Alibaba Business School equips entrepreneurs with valuable skills and encourages them to share their knowledge.
This initiative stems from a commitment made by Jack Ma, Alibaba Group’s founder and former Executive Chairman, as UNCTAD Special Adviser for Young Entrepreneurs and Small Business. This commitment aims to empower 1,000 entrepreneurs in developing countries over five years, creating leaders for inclusive and sustainable economic development through the digital economy.
“This program significantly contributes to international efforts supporting digital transformation and innovation for inclusive and sustainable development,” said Arlette Verploegh, UNCTAD eFounders Fellowship Programme Coordinator.
“Supporting young entrepreneurs can inspire others and raise awareness about the challenges and opportunities within the modern economy.”
The fourth cohort welcomed entrepreneurs from Bangladesh, India, Myanmar, and Singapore, joining participants from Cambodia, Indonesia, Malaysia, Pakistan, the Philippines, Thailand, and Vietnam. Representing various industries, including e-commerce, logistics, fintech, tourism, and big data, all participants are founders of promising startups.
This cohort included the first eFounders Fellowship graduate from Singapore, Victor Liew, founder of Xfers, a fintech company offering solutions in Singapore and Indonesia. Also participating was Dana von der Heide, co-founder of Parcel Perform, a Singapore-based logistics startup.
Participants gained insight into Alibaba’s entrepreneurial spirit, its ecosystem of platforms (including Taobao Marketplace, Tmall, Alibaba.com, Cainiao Network, and Freshippo (Hema)), and industry trends such as New Retail and e-commerce’s impact on rural areas.
To encourage regional partnerships, the program included interactive sessions with lecturers, participants, and advisors. Speakers from Alibaba’s senior management and network, along with advisors from East Ventures, Gobi Ventures, 500 Startups, and the Malaysian Digital Economy Corporation (MDEC), provided insights on local markets, fundraising, and growing entrepreneurial communities within their digital economies.
The program highlighted Alibaba Group’s role in China’s digital economy growth. Entrepreneurs witnessed the 11.11 Global Shopping Festival launch, experiencing firsthand its technology and concepts. Field visits and lectures showcased China’s digital transformation over the past two decades.
Entrepreneurs also developed a sense of global and social responsibility by aligning their business plans with the UN’s Sustainable Development Goals.
“By experiencing the Alibaba ecosystem, our network, and our role in China’s digital economy, we hope entrepreneurs will find new ways to build inclusive and sustainable businesses while championing digital economic growth in their markets,” said Brian Wong, VP, Alibaba Group, who leads Alibaba’s Global Initiatives program.
“Being part of this initiative was a privilege, especially with senior leaders and founders, including Jack Ma, speaking with us directly,” said Liew. “Their commitment to sharing knowledge is inspiring and shows how we can contribute to the community through our businesses and ideas.”
Upon graduation, the 38 Asian participants became Fellows of the global eFounders Fellowship network, joining 89 entrepreneurs from previous years.
UNCTAD and Alibaba are committed to ensuring Fellows apply their learning to develop inclusive and sustainable economic models within their communities. They will monitor and support the Fellows’ progress every three months.
Advisors from five Asian countries were also inducted into a network to support the new entrepreneurs. Their involvement in the program provided a deeper understanding of the program and the entrepreneurs they’ll mentor.
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