Alibaba Cloud to Launch its First Innovation Center in Malaysia
Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, today announced that it is to launch an Alibaba Cloud Innovation Center in Kuala Lumpur, Malaysia to provide a conducive environment for startups to grow in Malaysia and beyond. The company also hopes to train 30,000 local professionals in the coming fiscal year in Malaysia to strengthen its local talent development commitment.
As the first international innovation center located outside of China, the launch is in line with Alibaba Cloud’s long-term commitment to nurture digital talents and contribute to local business development in Asia Pacific. Besides launching the innovation center in Malaysia, Alibaba Cloud will also invest USD 1 billion (RM 4.145bil) in funding and resources within the next three years as part of its Project AsiaForward, which aims to foster one million digital talents, empower 100,000 developers and accelerate the growth of 100,000 tech startups across Southeast Asia and Hong Kong.
“Alibaba Cloud is committed to investing into Malaysia’s digital future. And opening our first ever international innovation center in Malaysia, is a testament to our longstanding commitment to the country,” said Selina Yuan, General Manager, International Business Unit, Alibaba Cloud Intelligence. “With the innovation center, we hope to help businesses in Malaysia to not only survive and thrive during the pandemic, but also provide a conducive environment to nurture local talents, preparing them to embrace the digital future.”
Startups in Fintech, banking, Internet, retail, and IT service industries can benefit the most from the upcoming innovation center. Besides receiving technology and business training, members joining the innovation center will also have the chance to interact with experienced entrepreneurs and industry experts, who can serve as mentors to guide startups or introduce them to venture capitals. In order to facilitate startups’ business expansion, Alibaba Cloud also offers subsidised office space, co-branding and networking opportunities, in addition to cross border business opportunities between Malaysia and China, through its China Gateway Program.
Alibaba Cloud also works with Malaysian local partner Handsprofit to bring their local expertise to the innovation center, ensuring its smooth operation with strong local connections.
(This content is surmised from a press release)