Tech giant Alibaba is committing a total of $750,000 to support American small and medium-sized businesses.
This is the second year the grant program has offered money for entrepreneurs looking to succeed in e-commerce channels. More than 50 small businesses received a $10,000 grant in 2021. More than 80 percent of those recipients were persons of color. Additionally, 78 percent of the winning businesses were founded by women.
2022’s grant pool has increased by 50 percent to continue to address pain points that businesses face when scaling their operation. 50 American small businesses will receive $10,000 in cash and $5,000 for logistics support when sourcing on Alibaba.com.
“We believe there are three ways to help SMBs stay competitive: reducing costs, simplifying the sourcing process, and building brand equity,” says Stephen Kuo, President of Alibaba.com North America. “That’s why we designed this year’s Alibaba.com Manifest Grants Program to highlight the creativity of small business owners and provide the tools for them to strengthen the competitiveness of their products. We are proud to offer not only increased cash grants but also unique opportunities for our grant recipients to access more capital and join Alibaba.com’s thriving community of small business owners.”
Additional benefits include a one-on-one mentorship session with Daymond John for one lucky recipient and the opportunity for all 50 recipients to participate in a one-on-one crowdfunding campaign consultation with Indiegogo.
Click here For more information about the 2022 Alibaba.com Manifest Grants Program.