Alibaba Puts Nearly $450M Into New Funds For Hong Kong And Taiwanese SMBs


"Earlier this year, Alibaba announced two funds to support entrepreneurs in Hong Kong and Taiwan, and today the initiatives — which are called the Alibaba Hong Kong Young Entrepreneurs Foundation — were officially announced. The Taiwan-based fund is NT$10 billion ($306 million), while the program in Hong Kong is backed by HK$1 billion ($130 million) in cash."

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