Alibaba Cloud Invests $1 Billion in Supporting Startups, Developers and New Talent – The Economist – The Global Economy

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Alibaba Cloud, the digital technology arm of the Alibaba Group, has launched the AsiaForward project with initial funding of $1 billion, to support the massive pool of digital talent in the Asia Pacific region, empower 100,000 developers and fuel the growth of 100,000 emerging technology companies in this region over the years. the next three.

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.

Jeff Chang, President of Alibaba Cloud Intelligence, said: “Innovative technology is very important in the recovery phase of the (Covid 19) pandemic, while a strong batch of talent expert in digital applications is a necessary need to promote sustainable development in the contemporary digital economy.

We are seeing a high demand for cloud technologies from startups in the region, such as e-commerce companies, logistics platforms, fintech companies and online entertainment.

We are committed to improving the cloud ecosystem and enhancing the region’s digital infrastructure. Our focus is on investing in innovation and data centers, and talent development is essential for the digital future.

Selina Yuan, general manager of the international business unit at Alibaba Cloud Intelligence, said: “We believe that this investment is timely given the impact of the pandemic and the significant rise in demand for digital business tools.

Our focus on developing talent and nurturing a digitally skilled workforce is equally important, and we see this as a major challenge that companies must overcome going forward.

During the summit, Alibaba Cloud launched a range of products and solutions as part of its ongoing efforts to support the digital transformation of sectors. Products include new solutions for live broadcasting, IT infrastructure products, and cloud data management services.

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