Malaysia hosts Alibaba Hong Kong Entrepreneurs Fund’s Jumpstarter pitching event
By Digital News Asia July 24, 2019
- Application for Malaysian startups ends Aug 2; grand finale in HK in February 2020
- Up to US$5 million investment commitment; US$100K in cash to top five startups in total
MALAYSIA will be Alibaba Hong Kong Entrepreneurs Fund’s only location in Asia outside of China to host the Jumpstarter Pitching Event, which provides a platform that brings startups, entrepreneurs, corporates and investors to build, empower and boost connections among different ecosystems and international tech hubs.
Alibaba Hong Kong Entrepreneurs Fund, a non-profit initiative launched by Alibaba Group Holding Ltd, kicked off the application process for Jumpstarter, its signature startup event in Hong Kong earlier.
For the first time this year, Jumpstarter is hosting a global pitch competition, with pitching events in Kuala Lumpur, Hong Kong, Shenzhen, Shanghai, Beijing, London, San Francisco Bay Area and Toronto.
The aim is to connect global talent, startups and entrepreneurs with Jumpstarter’s highly competitive Hong Kong Grand Finale to take place within StartmeupHK Festival on Feb 11 to 12, 2020.
The campaign will provide Malaysian startups an opportunity to seize a combined US$5 million (RM20.55 million) investment commitment and US$100,000 (RM411,095) in cash if they qualify as the top five Jumpstarter startups.
Applications for Malaysian startups begins today until Aug 2.
Malaysia Digital Economy Corporation (MDEC) chief executive officer Surina Shukri (pic, above) welcomed the Alibaba Hong Kong Entrepreneurs Fund initiative, saying, "Malaysia is recognised as the nucleus of a thriving tech startup ecosystem in Asean. It’s where local and global startups, accelerators, incubators, tech companies as well as investors connect and collaborate within an accommodative business environment.
“MDEC has placed strong focus on developing our tech talents and nurturing digital entrepreneurs and I am sure Jumpstarter will further drive our progress in those two areas. I look forward to welcoming further initiatives by both local and foreign investors to tap the enormous potential of our innovative local startups and entrepreneurs."
Top Jumpstarter companies will get access to the Alibaba ecosystem to help them gain valuable insight, experience and resources to expand their businesses.
One of the highlights of Jumpstarter is a startup competition featuring young companies from four sectors – retail, fintech, smart city and deep technology.
In particular, Jumpstarter provides more exposure for fintech startups. For fintech startups that apply for the Jumpstarter competition, they will also automatically be entered into FintechHK Global Competition in November 2019 during Hong Kong Fintech Week organised by InvestHK.
“Our immensely successful second Jumpstarter early this year attracted 10,000 attendees with over 600 business proposals. By substantially expanding the scale of the competition with startup 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,” said Alibaba Hong Kong Entrepreneurs Fund executive director Cindy Chow.
“We look forward to empowering startups, regardless of their home base, and are excited to embark on new journeys together with them leveraging the unique Hong Kong advantage.
“Through our third Jumpstarter, we join hands with InvestHK, HKEX, Cyberport and HKSTP, who share a common belief with us that Hong Kong is a regional powerhouse for startups. 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.
For more information about the campaign please visit www.jumpstarter.hk
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