Alibaba Cloud earmarks $1b for investments in Asian tech startups

REUTERS/Aly Song

Alibaba Cloud, the digital technology and intelligence division of Alibaba Group, has announced it will invest $1 billion to support startups in the Asia-Pacific region over the next three years.

The $1-billion commitment will be the initial funding for Project AsiaForward, an initiative that seeks to cultivate a million-strong digital talent pool, support 100,000 developers, and grow 100,000 technology startups in the region.

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