One of the things that CEOs, entrepreneurs, and business owners must consider is capital. Access to capital often can be the difference between being a successful digital entrepreneur and struggling to “turn the corner.” It’s important to be resourceful, but maybe just as vital to success is having the resources to take your vision and make it a reality. Yet with Square reporting, 47% of small businesses find obtaining financing to be a difficult or frustrating process, it’s important to have options to gain capital. Having the capital along with the opportunity to access CEO Hacks or resources is huge to increase the likelihood of success.
With that in mind, there’s an exciting and brand new Grant Program from Alibaba.com. To inject more capital into innovation and growth-focused businesses and organizations, Alibaba.com is launching its first-ever Alibaba.com Grants Program for tech and digital entrepreneurs to win hands-on support from eCommerce experts and have the opportunity to win $500,000 in cash grants. Alibaba.com is partnering with HelloAlice, a resource platform that aims to help small businesses through every step of the entrepreneurial journey, to support SMBs through the Alibaba.com Grants Program.
This program is open to new or existing Alibaba.com account holders with an innovative product idea or go-to-market strategy.
Below, explore details below about the Alibaba.com Grants Program, which offers a total of $10K in prizes split between 50 winners.
- Must be a registered business
- Must be US-based
- Must have an Alibaba.com member ID which is free and easy to obtain
Additionally, the judging and evaluation criteria will be scored on a scale and point system. The considerations are as follows:
- Demonstration of market need and opportunity
- Innovation in three separate fields, such as business model, product design, or marketing strategy
- Clarity of how funds will be allocated
- The size of the business, including details of employees and annual revenue
- Experience with Alibaba.com
In addition, all applicants will be able to join the Alibaba.com Digitization Sprint for Retailers to gain integral know-how on key business topics such as eCommerce basics, marketing, and customer engagement. This is a tremendous value add to applicants of the Grant Program with industry-leading insight readily available for their review 24/7.
Applications must be received by October 21, 2021 and those who will be rewarded grants will find out in early December how much they will receive. Learn more information about the Alibaba.com Grants Program here.
The first business unit of Alibaba Group, Alibaba.com is a leading platform for global B2B e-commerce that aims to make it easy to do business anywhere. Launched in 1999, Alibaba.com is engaged in services covering all aspects of commerce, including providing businesses with tools that help reach a global audience for their products and helping buyers discover products, find suppliers, and place orders online fast and efficiently. It serves millions of buyers and suppliers from over 200 countries and regions around the world.