WeWork Labs Greater China and Alibaba Cloud have signed a deal to nurture entrepreneurs in Greater China and further afield. Alibaba Cloud, which is also known as Aliyun, will provide technology and entrepreneurial support across a range of sectors, from fintech and e-commerce to entertainment and logistics. The agreement was announced at the Global Fintech Summit on Thursday by Alibaba’s chief executive officer, Daniel Zhang, who said that his company would invest more than $100 million over five years for startups working
WeWork Labs Greater China and Alibaba Cloud have signed a deal to nurture entrepreneurs in Greater China and further afield. Alibaba Cloud, which is also known as Aliyun, will provide technology and entrepreneurial support across a range of sectors, from fintech and e-commerce to entertainment and logistics. The two companies plan to introduce eight co-branded labs in Beijing, Shanghai, Hangzhou and Shenzhen this year, aiming to help 20 foreign start-ups break into China and 30 Chinese firms expand overseas.