Alibaba Cloud invests $1 billion in support of 200,000 startup developers


Alibaba Cloud has launched the AsiaForward project with initial funding of $1 billion to support the huge pool of digital talent in the Asia Pacific region, empower 100,000 developers and boost the growth of 100,000 technology start-ups in this region over the next three years.
The project was unveiled during the Alibaba Cloud Summit 2021, and the project aims to be part of the cloud company’s strategy to invest in infrastructure, technology innovation, talent development, and contribute to the growth of local economies through digital transformation as the leading and trusted cloud company in the Asia Pacific region.
The company plans to launch its first data center in the Philippines by the end of this year, reflecting its continued support for the digitization of local businesses through a range of products and services that include ECS, global network solutions, CDN content delivery network, and storage services. This investment is the latest of its kind in the company’s growing commitment to operate in the country, with a focus on banking, financial technology, retail, logistics, education and other sectors.
Alibaba Cloud will build its first international innovation center in Malaysia. Together with local partner Handsprofit, the company offers a single, integrated platform to enable innovation for Malaysian SMEs, start-ups, and developers looking to advance their technology horizons. Several business and cloud leadership training sessions will be provided through the platform, in addition to sponsoring a venture capital network system.


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