Alibaba Cloud Delivers Innovation and Entrepreneurship Results at the Apsara Conference

Catch the replay of the Apsara Conference 2020 at this link!

At the Apsara Conference 2020 on September 17, Li Zhongyu, General Manager of the Alibaba Cloud Innovation Center, gave a wonderful speech to share the results of Alibaba Cloud’s innovation and entrepreneurship results. There were live simulcasts with venues in Hangzhou, Jinan, Chongqing, and Hefei, showing how Alibaba Cloud powers the digital transformation of industries with data intelligence in different cities.

Li Zhongyu said, “The goal of the Alibaba Cloud Innovation Center is to become the preferred innovation platform for technology-based small and medium-sized enterprises (SMEs).” Its business includes the Alibaba Cloud Accelerator, the Innovation-Enabling Platform, and the Industry Innovation Center. Alibaba Cloud will help enterprises closely integrate into the Alibaba ecosystem and develop the industrial ecology for cloud and device entrepreneurship. Meanwhile, it will combine the policies and industrial resources of local governments to develop the vertical innovation center base.

Why does Alibaba Cloud want to conduct innovation and entrepreneurship incubation? Li Zhongyu said, “Alibaba has always been a dream-driven practitioner of innovation and entrepreneurship. From e-commerce to cloud computing, Alibaba continues to build business and technology infrastructure. At the same time, it aggregates and opens up the ecological resources, basic services, and fundamental technologies needed for innovation. By doing so, young innovative entrepreneurs of SMEs will have fewer issues starting their businesses.”

Alibaba Cloud has achieved many results by incubating innovation and entrepreneurship. Alibaba is the only internet enterprise in the first batch of China’s demonstration centers for business startups and innovation. Currently, there are more than 60 innovation centers, 4 ecological bases, and 3 national makerspaces in 33 cities and regions. On the innovation-enabling platform, Alibaba Cloud serves 610,000 startup enterprises and holds more than 260 online and offline activities each year. Due to the pandemic, 186 live innovation and entrepreneurship broadcasts and 21 cloud roadshows were held on the platform.

Li Zhongyu stated, “Alibaba Cloud has incubated more than 100 startups, with a financing rate of 64%. From the AI startup incubator, the enterprise evaluation of its participant has reached 71.8 billion, and more than 1,000 business cooperations have been promoted.”

Pictured Above: Live connection at the Apsara Conference

The conference also reviewed the award ceremony of the 2020 Zhejiang Open Data Innovation Contest. At the conference, guests spoke with potential unicorn startup companies in Hangzhou and connected with the Alibaba Cloud Innovation Center in Chongqing and the branch venue in Hefei.

In the era of big data, data technology has become a core element in the social governance mode, economic development, and people’s livelihood and well-being. Data Intelligence will transform the digital economy from fuzzy governance based on personal judgment and empiricism to data-driven digital governance of refinement. More specifically, data intelligence will be also integrated with data elements and traditional industries for a prominent multiplication effect. In the future, Alibaba Cloud will continue to build bridges of digital intelligence to accelerate the integration of the digital economy and digital society for innovative entrepreneurs.

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