Ali Cai Chongxin teaches entrepreneurship, great enterprise to solve problems

Ali Cai Chongxin teaches entrepreneurship, great enterprise to solve problems

Hong Kong’s pioneering atmosphere is prevalent. Alibaba Group Vice Chairman Cai Chongxin personally teaches entrepreneurs secrets and suggests that the company should solve business or social problems as a starting point for business. “Great enterprises will solve problems as missions."

Derivative vision, fostering better values

Cai Chongxin gave a speech at the JUMPSTARTER entrepreneurial event and shared his views on corporate innovation. He believes that entrepreneurship should start from the design mission and need to review from time to time what business challenges or social issues the company is addressing. “Mission is indispensable for starting a company. When you fight for your mission, you will have a vision that will lead to better values."

He cited the example of a person who came back. When he recalled the establishment of Alibaba 20 years ago, it was difficult for small-scale export enterprises in the Mainland to contact overseas markets. Because the entire trade network was dominated by state-owned enterprises, the group’s mission was to help small and medium-sized foreign traders expand their business through the Internet. The platform expands the business scenario for SMEs. “The idea is small, the problem is big, but we have solved it." He added that today’s agriculture, manufacturing or entertainment media industries distinguish between producers and consumers, and the group’s current task is to narrow the gap between them and provide them with a better business platform.

JUMPSTARTER is a startup platform created by Alibaba Entrepreneur Fund to provide a springboard for entrepreneurs and young people to realize their entrepreneurial dreams. According to Invest Hong Kong data, as of the end of last year, the number of start-ups in Hong Kong increased to 2,625, an increase of 396 or 18% from 2017, thanks to the local start-up cradle, shared workspace and increased support policies. Cai Chongxin pointed out that young people are close to the market and consumer groups, and thus can propose better innovative ideas. They also believe that family support is crucial on the road to entrepreneurship, because family members are one of the driving forces for young people to achieve their goals.