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What happened to Ali's $3 million investment in three Hong Kong startups?
165438+1On October 22nd, it was reported that at the Jumpstarter 20 17 Entrepreneurship Competition held in Hong Kong, three startup companies received $3 million investment from the Hong Kong Entrepreneur Fund under Alibaba Group. Ma Yun, Executive Chairman of Ali, presented awards to the winners of the contest.

Jumpstarter is an entrepreneurial competition similar to TechCrunch Disrupt, which provides a platform for participating startups to display new ideas and products. Jumpstarter won the support of Ali, who announced the establishment of the Hong Kong Entrepreneur Fund of HK$ 65,438 billion (about US$ 65,438+28 million) in 20 15 to support the development of startups.

Alibaba Network Technology Co., Ltd. (Alibaba Group for short) was founded in Hangzhou, Zhejiang Province on 18, headed by Ma Yun, who used to be an English teacher. They believe that the Internet can create a level playing field for small enterprises to expand their business through innovation and technology and be in a more favorable position to participate in domestic or global market competition.

Alibaba Group operates a number of businesses, and also obtains the support of operating business ecosystem from the businesses and services of affiliated companies. Business and affiliated companies include: Taobao, Tmall, Juhua, AliExpress, Alibaba International Trading Market, 1688, Ali Mama, Alibaba Cloud, Ant Financial, Cainiao.com, etc.

2065438+On September 19, 2004, Alibaba Group was officially listed on the new york Stock Exchange, with the stock code "baba" and Ma Yun as its founder and chairman.