Chinese e-commerce giant Alibaba has announced the launch of a £750,000 innovation competition aimed at supporting small and medium-sized enterprises (SMEs) across the UK and Europe. The Co-Create Pitch Awards, previously open only to participants outside Europe, are now expanding to include European businesses for the first time.
The competition is designed to promote digital entrepreneurship and cross-border trade, inviting SMEs to present innovative product ideas that demonstrate market potential and commercial feasibility. Participants can enter by submitting 30-second video pitches via Instagram or TikTok, or by registering through an online form.
Running over a four-month period, the contest will culminate in live pitch events at Alibaba’s flagship Co-Create trade shows in Las Vegas and London. Finalists will present their ideas before a panel of investors and industry experts, competing for a grand prize business package valued at £750,000. Two runners-up will receive packages worth £150,000 each, while an additional 20 companies will be recognised as ‘global winners’ and awarded up to £30,000.
Kuo Zhang, President of Alibaba.com, highlighted the enthusiasm SMEs bring to product innovation. “It’s great to see the entrepreneurial energy and passion SMEs bring to developing their innovative product ideas,” Zhang said. “This year, we’re thrilled to open this opportunity to entrepreneurs in Europe and the US, and look forward to seeing their product dreams come to life on stage.”
The Las Vegas edition of the event has previously drawn over 3,000 attendees and more than 2,000 participating American SMEs. By extending the programme to Europe, Alibaba aims to expand its business-to-business reach and respond to growing global demand for digital sourcing and innovation.
The competition also reflects Alibaba’s commitment to bolstering international trade via its B2B platform. According to the company, product sales by European suppliers on Alibaba.com have increased fivefold year-on-year, underlining the rising contribution of European SMEs to global commerce.
Liz Wang, head of commercial strategy at Alibaba.com, described the initiative as a key part of the company’s support system for small businesses. “The ‘can-do’ spirit of SMEs has always been the inspiration of Co-Create,” she said. “From ideation to production, financing to mentorship, we’re here to help them ‘make it’.”
The Co-Create Pitch Awards form part of Alibaba’s broader strategy to position itself as a global partner for SME growth, offering tools, visibility, and support for entrepreneurs entering international markets.
