Alibaba, CA Join to Help Entrepreneurs

Initiative aims to help recent college grads start own businesses.

by staff writer
- Sep 13, 2010

Alibaba Group and the state of California have partnered in a new initiative that will help an estimated 3,000 California college graduates start their own e-commerce businesses.

Through the Schwarzenegger Emerging Entrepreneurship Initiative, recent college grads would be able to receive "entrepreneur start-up kits," which include in-classroom lessons, consultations and free or low-cost tools from Alibaba sites to help them create and grow an e-commerce business. Officials are still finalizing the details, but participation would be offered next year through 15 colleges and universities in California. Alibaba will invest $3 million in the project, officials say.

"In the wake of the economic downturn, more and more college students are forgoing joining companies upon graduation and are instead starting their own businesses while in school," Alibaba CEO David Wei says. "This wouldn't have been possible several years ago, but the Internet is bringing the world together and making starting a business easier because it gives even small companies a low-cost way to reach suppliers and customers all over the world."

The program will be very good for California's economy, says Gov. Arnold Schwarzenegger. While just a few thousand people would receive training from the initiative, many more than that stand to benefit from the creation of new small businesses, since 65 percent of new jobs in the United States come from small businesses.

"As the eighth largest economy in the world and the home of Hollywood and Silicon Valley, California has long been a cultural and economic pace setter for America and the world," Schwarzenegger notes. "With the launch of this program, we hope to stimulate job creation and continue the state's tradition as the cradle of some of the world's greatest innovations."

About the Author

Auctiva staff writers constantly monitor trends and best practices of those selling on eBay and elsewhere online. They attend relevant training seminars and trade shows and regularly discuss the market with PowerSellers and other market experts.

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