(ECNS) -- Chinese Internet giant Alibaba Group's subsidiary Aliyun announced the launch of a platform for startup companies on Sunday, with the aim of building China's largest online platform to assist new entrepreneurs.
More than 30 venture capital firms, 20 business incubators and 20 providers of developer tools, distribution and promotion services have joined the platform, the company said, adding that tens of billions of yuan would be invested to foster millions of startups.
Aliyun's operations center general manager Yang Ming said, "Technology is changing the world. Startup entrepreneurs are those who have dreams and work hard to make their creative ideas come true through the power of technology. We hope to provide some assistance to them."
To begin with, the platform would offer free offices in five cities, namely Beijing, Shanghai, Wuhan, Shenzhen and Hangzhou, for startup entrepreneurs, it was added.
Aliyun is planning to attract more members to the platform to cover all main Chinese cities, and promises to offer cloud computing resources and free training worth 30,000 to 400,000 yuan ($4,800-64,400) to every entrepreneur.
Also on Sunday, the company and about 50 venture capital firms and business incubators jointly held a venture summit in Hangzhou, capital of Zhejiang province.