Baichuan is a brand with a name meaning ‘hundreds of rivers’. It is a provider of apps and opportunities for mobile developers. The platform is part of Jack Ma’s program of philanthropic gestures. It stands well for a man who has not forgotten his humble beginnings. That said, Jack is also an astute businessperson. He will be expecting hard returns on his Baichuan offer of US$161 million in start-up funds, and a similar amount in short-term loans.
Some Water Will Flow Back to Baichuan
The loans and grants are subject to using the app provider’s platform. This will help generate turnover and attract investment. The pre-grant churn is healthy with apps already downloaded to 115 million mobile devices since October 2014. The overall objective is to assist app entrepreneurs with funding and technical support via open resources. If Jack Ma gets it right – and he regularly does – then his goal to challenge Amazon in America becomes achievable.
Zhang Kuo, Chief of Baichua Upbeat
Zhang Kuo waxed lyrical at Alibaba’s software developer conference in Hangzhou on July 16. He spoke of plans to hold three entrepreneur camps for mobile app developers annually, each of which will last a hundred days. His vision is to establish 25 entrepreneurs aged under 25, and create ten venture programs each worth US$4.8 million.
Daniel Zhang, Alibaba’s CEO was similarly enthusiastic when he discussed this dream at Alibaba’s conference in Hangzhou. He sees the rollout as an important part of Alibaba’s plan to build a mobile ecosystem on the internet.
Baichuan Start-Up Bases Already in Position
The first steps in the ambitious process are complete, with Baichuan start-up bases in position in Beijing, Shanghai, Hangzhou and Xiamen and more to come. This is some achievement for the man called Jack Ma. His initial mission was to prove to friends the internet existed. Now his Baichua does as well.