Alibaba Hong Kong Entrepreneurs Fund's JUMPSTARTER Launches Global Pitch Competition

HONG KONG,June 27,2019 -- Alibaba Hong Kong Entrepreneurs Fund,a non-profit initiative launched by Alibaba Group Holding Ltd.,today kicked off the application process for JUMPSTARTER,its signature start-up event in Hong Kong. This year,JUMPSTARTER is,for the first time,hosting a global pitch competition,with pitching events in Hong Kong,Shenzhen,Shanghai,Beijing,Kuala Lumpur,London,San Francisco and Toronto. The aim is to connect global talent,start-ups andentrepreneurs with JUMPSTARTER's highly competitive Hong Kong Grand Finale to take place within StartmeupHK Festival on February 11-12,2020.

The campaign will provide up to a combined US$5 million investment commitment and US$100,000 in cash to the top five JUMPSTARTER start-ups.

In partnership with InvestHK,Hong Kong Exchanges and Clearing Ltd(HKEX),Cyberport and Hong Kong Science and Technology Parks Corporation (HKSTP),JUMPSTARTER will not only provide capital to winning start-ups,but also offer networking opportunities with top investors,corporates and other start-ups. As a part of InvestHK's StartmeupHK Festival,JUMPSTARTER provides a platform that brings start-ups,entrepreneurs,corporates and investors to build,empower and boost connections among different ecosystems and international tech hubs. Top JUMPSTARTER companies will also get access to the Alibaba ecosystem to help them gain valuable insight,experience and resources to expand their businesses. (See appendix for quotes from the globalco-organizer and the co-organizers)

The third JUMPSTARTER is taking the event to a new level with the introduction of eight pitching events in Hong Kong and seven other international cities from August to November 2019. Each event is expected to host over 100 start-ups,and 40 finalists from these global locations will be given the opportunity to participate in the JUMPSTARTER Grand Finale in Hong Kong in February 2020. These events will attract rising stars interested in the Hong Kong and Asia markets and further enhance Hong Kong's position as a start-up hub for the region.

One of the highlights of JUMPSTARTER is a start-up competition featuring young companies from four sectors ­-- retail,fintech,smart city and advanced technology-- viewed as key to Hong Kong's long-term economic development. In particular,JUMPSTARTER provides more exposure for fintech start-ups. For fintech start-ups that apply for the JUMPSTARTER competition,they will also automatically be entered into FintechHK Global Competition,organized by InvestHK,in November 2019 during Hong Kong Fintech Week. (See appendix for the application requirement and timeline)

"Our immensely successful second JUMPSTARTER early this year attracted 10,000 attendees with over 600 business proposals. By substantially expanding the scale of the competition with start-up pitching events across the Asia Pacific,Canada,Europe and the U.S.,we are truly putting JUMPSTARTER on the global stage,welcoming incredible young entrepreneurs from around the world and connecting them with amazing opportunities," said Cindy Chow,Executive Director of Alibaba Hong Kong Entrepreneurs Fund.

"We look forward to empowering start-ups,regardless of their home base,and are excited to embark on new journeys together with them leveraging the unique Hong Kong advantage. Through our third JUMPSTARTER,we join hands with InvestHK,HKEX,Cyberport and HKSTP,who share a common belief with us that Hong Kong is a regional powerhouse for start-ups. We hope to continue to foster an environment in the city that embraces entrepreneurial spirit and we are ready to unleash the potential of innovations and entrepreneurship around the globe," added Chow.

JUMPSTARTER is open for applications from today. Interested parties can visit www.jumpstarter.hkfor more information.

Appendix - Quotes from GlobalCo-organizer and Co-organizers of JUMPSTARTER 2020

Global Co-organizer:

Stephen Phillips,Director-General of InvestHK,said: "The two flagship events spearheaded by InvestHK - Hong Kong Fintech Week and StartmeupHK Festival - are a perfect tie-in with JUMPSTARTER. We look forward to collaborating closely with Alibaba Entrepreneurs Fund in the coming months. The final pitch of the FintechHK Global Competition will take place on November 6,2019 at Hong Kong Fintech Week,and the Grand Finale of the JUMPSTARTER Global Pitch Competition next February. With an increasing number of startups across the globe seeing impressive and explosive growth across all kinds of industries,we stand ready to support their journey in scaling their business globally via Hong Kong."

Co-organizers:

Charles Li,Chief Executive of HKEX,said: "It is our vision to be the global markets leader in the Asian time zone-- connecting China,connecting the world. We are delighted to be supporting JUMPSTARTER in helping them attract quality startups and talents to Hong Kong,and look forward to working with them in promoting Hong Kong as a world-leading centre for entrepreneurship,fundraising and IPOs."

Peter Yan,Chief Executive Officer of Cyberport,said: "Cyberport is committed to nurturing youth,start-ups and entrepreneurs to grow in the digital tech industry by connecting them to strategic partners and investors. The Global Pitch Competition by JUMPSTARTER aligns with our aim to promote Hong Kong as a hub for innovation and technology that connects quality start-ups,corporates and investors,and empower Hong Kong's start-up community."

Albert Wong,Chief Executive Officer of HKSTP,said: "Hong Kong Science Park is of full commitment that we strive to co-create with various stakeholders to our ever-growing I&T ecosystem,and may this empower our start-ups continue to grow and succeed by crystallising ideas into solutions. With JUMPSTARTER that connects tech hubs around the world,it further promotes a message to the world of Hong Kong as an international I&T hub and destination for global companies and talent to seek new opportunities while bringing our home-grown companies and solutions out to the world."

Appendix - JUMPSTARTER application requirement and timeline

Application requirement

If your start-ups fulfil the following requirements,you are eligible to apply:

Less than 5 years old

Have raised less than US$20 million in funding

Start-up funding is between Seed and Series C stage

Possess a ground-breaking and innovative product or service

Desire to make Hong Kong part of your future plans

JUMPSTARTER Global Pitch Competition

All eight pitching events are opened for application now.

Location

Deadline for Application

Startup Shortlist Announcement

Semi-Pitch

Grand Finale

HONG KONG

Shenzhen

Jul 27,2019

Aug 6,2019

Aug 19-20,2019

Feb 11-12,2020

Kuala Lumpur

Aug 2,2019

Aug 14,2019

Aug 27-28,2019

London

Aug 23,2019

Sep 3,2019

Sep 16-17,2019

San Francisco

Sep 10,2019

Sep 24,2019

Oct 9-10,2019

Toronto

Sep 18,2019

Sep 30,2019

Oct 16-17,2019

Hong Kong

Oct 2,2019

Oct 15,2019

Oct 30-31,2019

Beijing

Oct 22,2019

Nov 5,2019

Nov 19-20,2019

Shanghai

Oct 28,2019

Nov 12,2019

Nov 26-27,2019

# When fintech start-ups apply for the JUMPSTARTER Global Pitch Competition,they will be automatically entered into the FintechHK Global Competition,which will have its final pitches in Hong Kong on Nov 6,2019 during Hong Kong Fintech Week 2019.

About Alibaba Entrepreneurs Fund

Alibaba Entrepreneurs Fund ("AEF") is a non-profit initiative launched by Alibaba Group in 2015. To vitalize the development of innovation and technology,AEF's mission is to help Hong Kong entrepreneurs and young people realize their dreams and visions for a Hong Kong that is vibrant and engaged regionally and globally. As part of its investment program,Alibaba Hong Kong Entrepreneurs Fund provides Hong Kong-based entrepreneurs with investment capital and strategic guidance to help them grow their businesses and penetrate global markets,by utilizing Alibaba's vast ecosystem. It also nurtures Hong Kong's graduates and students at tertiary institutions by providing valuable internship opportunities at Alibaba Group and our affiliate companies. AEF has also funded the HKAI LAB which is a platform for bringing together academics,scientists,and entrepreneurs in Artificial Intelligence (AI) who are passionate about innovation and creating a better future. HKAI LAB is focused on advancing the frontiers of AI with cutting-edge technologies and expertise,and empowering startups to develop and commercialize their AI inventions and technologies.For more information,please go to the website: http://ent-fund.org

About JUMPSTARTER

JUMPSTARTER is a not-for-profit initiative created by Alibaba Hong Kong Entrepreneurs Fund that provides a platform for all entrepreneurs and young people to jump start their dreams in Hong Kong. It is a first-of-its-kind startup event focused exclusively on showcasing quality start-ups and providing high-impact networking opportunities.Itsgoal is to build,empower and boost Hong Kong's start-up ecosystem and entrepreneurship by bringing entrepreneurs,corporates,investors and the public together,helping to transform Hong Kong into a leading hub for global innovation and technology.

Media Contacts

Alibaba Group

Eva Lee

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Email: eva.lee@alibaba-inc.com

Katie Lee

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Email: k.lee@alibaba-inc.com

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