Alibaba has launched a £750,000 innovation competition aimed at small and medium-sized businesses in the UK and across Europe, as part of its drive to support digital entrepreneurship and global trade.
The Co-Create Pitch Awards, which were previously open only to international participants outside Europe, will now invite UK and EU-based SMEs to showcase their product ideas in a contest judged on innovation, market potential and feasibility.
Entrants are encouraged to submit 30-second videos on Instagram or TikTok or register through an online form. The competition will run for up to four months, culminating in live pitches at Alibaba’s flagship Co-Create trade events in Las Vegas and London, where shortlisted companies will present their ideas to a panel of investors and industry experts.
Kuo Zhang, President of Alibaba.com, said: “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.”
The Las Vegas event has previously attracted over 3,000 guests and 2,000 American SMEs. With its expansion into Europe, Alibaba aims to boost its B2B reach and support growing demand for digital sourcing across global markets.
The grand prize winner will receive a £750,000 business package, with two runners-up receiving £150,000 each. A further 20 ‘global winners’ will be awarded up to £30,000.
The move comes as Alibaba reports a fivefold year-on-year increase in the number of products sold by European suppliers through its platform, reflecting the growing role of SMEs in cross-border trade.
Liz Wang, head of commercial strategy at Alibaba.com, said: “The ‘can-do’ spirit of SMEs has always been the inspiration of Co-Create. Alibaba.com’s 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.’”
The competition is part of Alibaba’s broader push to position its B2B platform as a key partner for small business growth across global markets.
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Alibaba launches £750,000 pitch competition for UK and European SMEs