KARACHI:

B2B e-commerce platform Alibaba.com 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, Alibaba.com 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% Alibaba.com sourcing credits).

Twenty winners will be awarded up to $40,000 each under the same terms. All participants will gain free access to Alibaba.com’s 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 Alibaba.com.

Despite global economic uncertainty, the SMEs continue to demonstrate resilience and a strong capacity to adapt and thrive. Recent data from Alibaba.com reveals that SMEs are actively positioning themselves for new opportunities.