Alibaba announces 50 small businesses receiving $10,000 grants to catalyze entrepreneur economy

Alibaba.com, one of the world’s largest B2B ecommerce marketplaces and a business unit of Alibaba Group has announced the 50 entrepreneurs each receiving $10,000 grants from the first-ever Alibaba.com Grants Program.

A total of $500,000 in grant support will fuel new participants in the Entrepreneur Economy. Recipients were selected from a pool of more than 12,000 applicants who submitted their product idea or go-to-market strategy for consideration by Alibaba.com’s panel of expert judges.

The Alibaba.com Grants Program, created in partnership with Hello Alice, the largest community of underrepresented entrepreneurs in the U.S., aims to support today’s Entrepreneur Economy by providing much-needed capital and resources to New Digital Entrepreneurs who are starting businesses online. 44% of these New Digital Entrepreneurs say they needed $5,000 or less in the first six months of launching their business and program applicants underscored this need in their applications, citing raising capital as their top business challenge of 2021. In addition to the opportunity for grants, the thousands of applicants all have access to the Alibaba.com Digitization Sprint for Retailers, gaining valuable insight into ecommerce basics like sourcing, digital advertising and supply chain management.

John Caplan, President of North America and Europe of Alibaba.com and judging panel member: “Today’s New Digital Entrepreneurs are erasing the boundaries of what’s possible and changing the way we think, work and live. At Alibaba.com, it’s our mission to make it easy for businesses to do business anywhere, which is why it’s an honor to support this group of incredibly inspiring entrepreneurs with start-up capital to catalyze their businesses and grow on their own terms. We can’t wait to see what these entrepreneurs accomplish.”

The group of 50 grant recipients includes entrepreneurs from diverse backgrounds and walks of life.

Elizabeth Gore, President and Co-founder of Hello Alice: “Starting a business is challenging no matter the circumstances. But we know certain socioeconomic factors can make the entrepreneurial journey even more difficult. That’s why we’re proud to share that almost 80% of the Alibaba.com Grants Program recipients are people of color and about 78% are women entrepreneurs. Importantly, almost 90% of recipients shared that the vast majority of their teams hail from historically underrepresented groups, including persons with disabilities, military veterans and LGBTQ+.”

The 50 Alibaba.com Grants Program recipients include entrepreneurs with business plans to help create a more healthy, sustainable, beautiful, knowledgeable or equitable world.

Tenita Strand, owner, Alabama-based Status Co, a leather accessories studio: “I represent a sector of socially and economically disadvantaged entrepreneurs who are ditching disparities in the 9-to-5 workforce and pursuing entrepreneurship to create a better quality of life for themselves and their families. My trajectory also inspires others how to start a business on a shoestring budget and access resources to grow a reputable, stable company.”

Sierra Williams, owner of SHE Support Heal Empower: “Being a part of the Entrepreneur Economy means that a person such as myself, who would have not been given this opportunity years ago, now has the ability to make a difference in this society and in this world. It means that while there is an opportunity for me to grow, there is also the opportunity to lift others up with me so that more people can make an impact for our future and present generations.”

www.alibabagroup.com