Latest news with #KuoZhang
Yahoo
a day ago
- Business
- Yahoo
Alibaba launches competition for UK and European SMEs
has launched an innovation-based competition for UK and European small and medium enterprises (SMEs), with a prize pot of £750,000. The Co-Create Pitch awards, which launched last year internationally, will judge competitors' products based on innovation, feasibility and market potential. Shortlisted companies will pitch at flagship Co-Create trade events in Las Vegas and London, and will be judged by a panel of industry leaders and investors. 'It's great to see the entrepreneurial energy and passion SMEs bring to developing their innovative product ideas. 'This year, we're thrilled to open this opportunity to entrepreneurs in Europe and the US, and look forward to seeing the product dreams of the brightest SMEs and entrepreneurs coming to life on stage,' Kuo Zhang, president of said. Co-Create, which has been hosted in Law Vegas for the past two years, brings together more than 3,000 guests and 2,000 American SMEs. The Pitch competition, which will last up to four months, invited participants to post 30-second videos on Instagram or TikTok as their entry proposition, although participants are also able to register via an online form. said the awards have been driven by 'growing demand' amongst business-to-business buyers and sellers for digital sourcing, adding that the number of products sold by European suppliers has increased five-fold year-on-year. The winner of the Co-Create Pitch awards will receive £750,000, while two runners-up will receive £150,000 and 20 'global winners' will be awarded up to £30,000. Liz Wang, head of commercial strategy at said: 'The 'can-do' spirit of SMEs has always been the inspiration of Co-Create. ' global supply chain empowers these businesses to turn their product dreams into reality. From ideation to production, financing to mentorship, we're here to help them 'make it.'' Sign up to the competition here Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Express Tribune
2 days ago
- Business
- Express Tribune
SMEs with product ideas to compete in US
Listen to article B2B e-commerce platform has announced a newly expanded pitch competition, CoCreate Pitch, which will take place at the company's annual CoCreate event. The competition will allow global small and medium enterprises (SMEs) with product ideas to compete for a $1 million prize pool. Selected SMEs and entrepreneurs from Pakistan will have the opportunity to participate in the US event to be held in Las Vegas from September 4 to 5 this year. In addition to the CoCreate Pitch competition, is also introducing CoCreate Europe, which will be held in London on November 14, coinciding with the World Micro, Small and Medium Enterprises (MSME) Day on June 27. CoCreate Pitch will attract SMEs from around the globe, offering the opportunity for financial support, a diversified supply chain and mentorship. Two grand champions, one from each CoCreate event, will each receive a financial award valuing at $200,000 (50% cash and 50% sourcing credits). Twenty winners will be awarded up to $40,000 each under the same terms. All participants will gain free access to AI-powered sourcing tools and supplier network, enabling rapid prototyping and cost-efficient production. The competition spans two to four months, with submissions evaluated on innovation, feasibility and market potential. Finalists will pitch live at events in Las Vegas. Winners will be selected by a panel of industry leaders and investors. "The passion SMEs will bring to their innovative product ideas, and their entrepreneurial energy, shines brightly on stage," said Kuo Zhang, President of Despite global economic uncertainty, the SMEs continue to demonstrate resilience and a strong capacity to adapt and thrive. Recent data from reveals that SMEs are actively positioning themselves for new opportunities.
Yahoo
31-03-2025
- Business
- Yahoo
Alibaba.com Records Double-Digit Order Growth in the USA During March Expo
March Expo, flagship sourcing event, saw US SME buyers leverage AI and digital sourcing to build new supplier partnerships and unlock growth opportunities NEW YORK, March 31, 2025 /PRNewswire/ -- a leading platform for global business-to-business (B2B) e-commerce, has recorded a 27% year-on-year increase* in the number of orders placed by US SME buyers during this year's March Expo. March Expo is flagship sourcing event. It connects millions of buyers with millions of suppliers from around the world, helping them discover the latest product opportunities and build new supplier partnerships while providing attractive promotional offers. A month-long virtual event, March Expo leverages technology, artificial intelligence (AI) and digital sourcing to make it easier for US SMEs to access growth opportunities via global trade. US order growth was driven by growth across several key product categories across the country, particularly sports products, which saw an increase of nearly one third (30%) year-on-year. Notably, according to data, orders for pickleball-related products increased by 197%, as demand for sporting goods in the US continues its growth trajectory and there is rising interest in new and emerging sports. In addition, the strong order growth was driven by US SMEs switching to digital sourcing — buying goods directly from suppliers, rather than intermediaries. New data from revealed that nearly half of SMEs (44%) plan to change suppliers this year — notably via digital sourcing channels such as online B2B marketplaces. Meanwhile, just under two thirds (59%) of US SMEs surveyed said digital sourcing is more important now compared to this time last year, demonstrating an increased preference for direct sourcing. Kuo Zhang, President, said: "During this year's March Expo, there has been a noticeable shift in favor of digital sourcing, with order volumes amongst US SMEs rising sharply year-on-year. This trend aligns with our recent research, which revealed that US SMEs increasingly recognize the benefits of online sourcing, from affordability to trend responsiveness and supplier reliability. In addition, the rise in sports-related product purchases indicates that SME buyers are increasingly tapping into consumer trends and sourcing ready-made products. As businesses embrace digital sourcing, they gain greater flexibility and access to a wider range of products to support their growth." # # # Notes to Editors *The data was collected from March 1 to 7, 2025 and compared with the same period in 2024. ‡The research was conducted by Censuswide, among a sample of 1,000 decision makers (aged 18+) in US SMEs who are responsible for sourcing in companies with under 150 employees (excluding sole traders). The data was collected between January 31, 2025 and February 6, 2025. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct which is based on the ESOMAR principles. 'Digital sourcing' refers to sourcing products through online B2B marketplaces. 'More important' refers to 'Much more important' and 'More important' responses combined. About Launched in 1999, is a leading platform for global business-to-business (B2B) e-commerce that serves buyers and suppliers from over 200 countries and regions around the world. It is engaged in services covering various aspects of commerce, including providing businesses with tools that help them reach a global audience for their products and helping buyers discover products, find suppliers and place orders online fast and efficiently. is part of Alibaba International Digital Commerce Group. View original content to download multimedia: SOURCE
Associated Press
11-03-2025
- Business
- Associated Press
Alibaba's Accio Hits 1 Million Users, Unveiling New AI Features to Empower SMEs in Global Trade
Leveraging Reasoning models to Simplify Market Entry and Global Sourcing for SMEs HANGZHOU, China, March 10, 2025 /PRNewswire/ -- Alibaba International Digital Commerce Group ('Alibaba International') announced today that its artificial intelligence (AI)-driven business-to-business (B2B) search engine, Accio, has surpassed 1 million users within five months of launch. To further empower small and medium-sized enterprises (SMEs), two new features—Business Research and Deep Search—are now available, offering AI-driven solutions for market entry and global sourcing. Recent AI Momentum at Alibaba Accio is an AI-native application designed to simplify global trade for SMEs. Built on Alibaba's foundational technologies—including the Qwen large language model available as open-source—Accio leverages reasoning models fine-tuned with real industry data across the internet. These models power Accio's multilingual capabilities and ability to generate precise market insights and actionable sourcing strategies. 'Reaching 1 million users is just the beginning. Our goal is to consistently refine our toolkit, enabling SMEs to seamlessly integrate AI functionalities into their workflows,' said Kuo Zhang, President of a leading platform for global B2B e-commerce and a business unit of Alibaba International. 'With the enhanced Accio, anyone can now turn vague product ideas into actionable plans in minutes, not months. Everyone can get a shot at becoming an entrepreneur.' Business Research: From Insights to Execution Accio's Business Research streamlines market analysis by automating labor-intensive tasks like data collection and trend tracking. Instead of juggling scattered reports, users input broad goals—such as launching a product in a new region—and receive structured, real-time reports on consumer demand, pricing trends and competitive landscapes. The tool identifies high-potential niches, and even generates ready-to-use business plans with cost estimates and supplier recommendations. This allows SMEs to act swiftly on opportunities without months of groundwork. Deep Search: Precision Sourcing, Simplified Deep Search tackles the complexities of global sourcing by adapting to intricate requirements—whether technical specs, certifications or budget constraints. If a query yields few results, it will intelligently refine searches using synonyms or industry terms, mimicking procurement experts. The feature also vets suppliers for compliance and reliability, delivering AI-curated shortlists in minutes. By translating decades of Alibaba's trade data into an intuitive interface, it empowers newcomers to source like seasoned professionals. Revamping Global Trade with AI A recent survey of over 4,000 sourcing decision-makers across the US, UK, Germany and France revealed that nearly 64% plan to integrate AI into their sourcing strategies by 2025. Their top motivations include long-term business growth, efficiency improvements and cost reductions. With global trade projected to exceed $33 trillion in 2024[1], businesses are increasingly adopting advanced technologies to stay competitive. Tools like Accio address this need by simplifying AI adoption. is also undergoing a comprehensive upgrade to incorporate Accio's capabilities, empowering its 50 million SME buyers and sellers to identify business opportunities and connect with trustworthy suppliers. # # # About Alibaba International Alibaba International Digital Commerce Group (Alibaba International) is dedicated to supporting the development of global digital trade with AI-powered technology. It operates various platforms with distinctive business models, covering multiple countries and regions around the world. Media Contact Lingnan Cui
Yahoo
11-03-2025
- Business
- Yahoo
Alibaba's Accio Hits 1 Million Users, Unveiling New AI Features to Empower SMEs in Global Trade
Leveraging Reasoning models to Simplify Market Entry and Global Sourcing for SMEs HANGZHOU, China, March 10, 2025 /PRNewswire/ -- Alibaba International Digital Commerce Group ("Alibaba International") announced today that its artificial intelligence (AI)-driven business-to-business (B2B) search engine, Accio, has surpassed 1 million users within five months of launch. To further empower small and medium-sized enterprises (SMEs), two new features—Business Research and Deep Search—are now available, offering AI-driven solutions for market entry and global sourcing. Recent AI Momentum at Alibaba Accio is an AI-native application designed to simplify global trade for SMEs. Built on Alibaba's foundational technologies—including the Qwen large language model available as open-source—Accio leverages reasoning models fine-tuned with real industry data across the internet. These models power Accio's multilingual capabilities and ability to generate precise market insights and actionable sourcing strategies. "Reaching 1 million users is just the beginning. Our goal is to consistently refine our toolkit, enabling SMEs to seamlessly integrate AI functionalities into their workflows," said Kuo Zhang, President of a leading platform for global B2B e-commerce and a business unit of Alibaba International. "With the enhanced Accio, anyone can now turn vague product ideas into actionable plans in minutes, not months. Everyone can get a shot at becoming an entrepreneur." Business Research: From Insights to Execution Accio's Business Research streamlines market analysis by automating labor-intensive tasks like data collection and trend tracking. Instead of juggling scattered reports, users input broad goals—such as launching a product in a new region—and receive structured, real-time reports on consumer demand, pricing trends and competitive landscapes. The tool identifies high-potential niches, and even generates ready-to-use business plans with cost estimates and supplier recommendations. This allows SMEs to act swiftly on opportunities without months of groundwork. Deep Search: Precision Sourcing, Simplified Deep Search tackles the complexities of global sourcing by adapting to intricate requirements—whether technical specs, certifications or budget constraints. If a query yields few results, it will intelligently refine searches using synonyms or industry terms, mimicking procurement experts. The feature also vets suppliers for compliance and reliability, delivering AI-curated shortlists in minutes. By translating decades of Alibaba's trade data into an intuitive interface, it empowers newcomers to source like seasoned professionals. Revamping Global Trade with AI A recent survey of over 4,000 sourcing decision-makers across the US, UK, Germany and France revealed that nearly 64% plan to integrate AI into their sourcing strategies by 2025. Their top motivations include long-term business growth, efficiency improvements and cost reductions. With global trade projected to exceed $33 trillion in 2024[1], businesses are increasingly adopting advanced technologies to stay competitive. Tools like Accio address this need by simplifying AI adoption. is also undergoing a comprehensive upgrade to incorporate Accio's capabilities, empowering its 50 million SME buyers and sellers to identify business opportunities and connect with trustworthy suppliers. To try the new product, please visit: or # # # About Alibaba International Alibaba International Digital Commerce Group (Alibaba International) is dedicated to supporting the development of global digital trade with AI-powered technology. It operates various platforms with distinctive business models, covering multiple countries and regions around the world. Media Contact Lingnan CuiAlibaba [1] View original content: SOURCE Alibaba International;
