Hong Kong Startup Pioneers Jointly Launch JUMPSTARTER 2017

Hong Kong, April 27, 2017 – The Hong Kong Entrepreneurs Fund, a not-for-profit initiative by Alibaba Group Holding Limited (NYSE: BABA), today kicked off a US$3.0 million startup competition in partnership with Hong Kong Cyberport Management Co. Ltd. (“Cyberport) and Hong Kong Science and Technology Parks Corporation (“HKSTP”). The competition, called JUMPSTARTER 2017, aims to identify promising entrepreneurs and provide them with capital, operational support and networking resources to grow their business.

JUMPSTARTER 2017 is the biggest business pitching competition in Hong Kong in terms of scale. The competition covers over 10 trending sectors including Fintech, WearablesIoTEduTech, Ecommerce, Big DataArtificial Intelligence, Robotics, Healthy Aging, Sensors and Advanced Materials and Smart City in eight semi-finals.

“As a member of Alibaba’s founding team, I understand the challenges of starting a business,” said Joe Tsai, Executive Vice Chairman of Alibaba Group. “The Fund is honored to have the opportunity to work with Cyberport and HKSTP to advance innovation and support startups in Hong Kong. Through JUMPSTARTER 2017, we hope to support aspiring Hong Kong entrepreneurs through capital funding, mentoring and nurturing. Leveraging the vast array of resources from Alibaba Group, Cyberport and HKSTP, we are hopeful that JUMPSTARTER 2017 would encourage more people to get involved in innovation and technology and make Hong Kong a vibrant hub for startups in the future.”

About JUMPSTARTER 2017

JUMPSTARTER 2017 is co-organized by Alibaba Hong Kong Entrepreneurs Fund (the “Fund”), Hong Kong Cyberport Management Company Limited (Cyberport) and Hong Kong Science and Technology Parks Corporation (HKSTP), with the aim to support the development of local startups and promote the Hong Kong startup scene. JUMPSTARTER 2017 is the largest and the broadest entrepreneur program of its kind in Hong Kong, covering more than 10 hottest startup sectors. The program is divided into two phases: the Semi-final events and the Finale. Startups may join one or more out of the eight themes in the Semi-pitch event according to their sector. The semi-finalists will receive strategic advice and support from co-organizers including pre-pitch training, networking, etc. Each of the three winning startups in the Finale will be receiving up to USD 1 million in investment from the Fund and benefits from resources matching within Alibaba Group’s vibrant ecosystem.

JUMPSTARTER 2017
(From left to right) Albert Wong, Chief Executive Officer of HKSTP, Norma Chu, Founder of Day Day Cook, Herman Lam, Chief Executive Officer of Cyberport, Joe Tsai, Executive Vice Chairman of Alibaba Group, Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund, Albert Wong, Chief Executive Officer of HKSTP and Eu-wen Ding, Founder and Chief Executive Officer of Lumos. 
JUMPSTARTER 2017
Joe Tsai, Executive Vice Chairman of Alibaba Group speaks at the kick-off ceremony of JUMPSTARTER 2017 

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