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Alibaba's US investment
Source: Xinhua |
September 12, 2010, Sunday
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Print Edition
Print Edition
ALIBABA Group, China's largest e-commerce company, is to invest US$3 million to help college students in the United States in e-commerce job creation.
The "Schwarzenegger Emerging Entrepreneur Initiative," named after California Governor Arnold Schwarzenegger, will select 3,000 students from 15 colleges in California by the end of 2011, said Alibaba's Chief Executive Officer David Wei.
Each student will receive US$1,000 from Alibaba, to pay the cost of operating online shops and logistic services, Wei said at the seventh Netrepreneur Summit in Hangzhou, capital of Zhejiang Province.
"With the project we wish to help those young students to launch their entrepreneur career," said Wei.
Hangzhou-based Alibaba has helped create 20,000 job opportunities in California after its acquisition of two US IT companies this year, Schwarzenegger said at meeting organized by Alibaba.
Schwarzenegger visited Hangzhou during his six-day trip to China, Japan and the Republic of Korea, to promote trade for his state.
The job creation plan was seen as the latest move of the Chinese company to enhance the presence of its newly launched AliExpress service in the US, as the aided start-ups will be encouraged to open online shops through the platform.
At the end of April, Alibaba launched AliExpress, an online platform that allows buyers to directly purchase goods from exporters in small quantities.
The "Schwarzenegger Emerging Entrepreneur Initiative," named after California Governor Arnold Schwarzenegger, will select 3,000 students from 15 colleges in California by the end of 2011, said Alibaba's Chief Executive Officer David Wei.
Each student will receive US$1,000 from Alibaba, to pay the cost of operating online shops and logistic services, Wei said at the seventh Netrepreneur Summit in Hangzhou, capital of Zhejiang Province.
"With the project we wish to help those young students to launch their entrepreneur career," said Wei.
Hangzhou-based Alibaba has helped create 20,000 job opportunities in California after its acquisition of two US IT companies this year, Schwarzenegger said at meeting organized by Alibaba.
Schwarzenegger visited Hangzhou during his six-day trip to China, Japan and the Republic of Korea, to promote trade for his state.
The job creation plan was seen as the latest move of the Chinese company to enhance the presence of its newly launched AliExpress service in the US, as the aided start-ups will be encouraged to open online shops through the platform.
At the end of April, Alibaba launched AliExpress, an online platform that allows buyers to directly purchase goods from exporters in small quantities.
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