China’s e commerce giant confirmed on Wednesday that they will be starting up an incubator start up in Bengaluru with the Indian mobile solution company, Globals. They confirmed that the start up will focus on mobile internet and mobile commerce.
Globals founder Suhas Gopinath said,
We met Jack Ma (Alibaba founder) and his team in Delhi on Monday, and we came to an in-principle agreement on the incubator,
Gopinath, once described as one of the youngest entrepreneurs in the world and who the World Economic Forum named as a ‘Young Global Leader’ for the year 2008-09, said both groups felt the need for an incubator that was focused on mobile.
Gopinath confirmed that the idea of the incubator came to the comapny’s COO who then had a talk with a Silicon based mobile app company, Quixey in which Alibaba is an investor.
The start up hopes to attract more and more companies for funding with Alibaba already in for the investment.
Alibaba has realized that the e commerce industry has slowly moved to the smartphones and Alibaba wants to be a part of the changing e commerce scenario in India.
Jack Ma, the founder of Alibaba met Indian Prime Minister Narendra Modi on Monday and they talked about building B2B e commerce platforms in the country that can help the local producers sell their product in the larger global market.
Alibaba invested $575 million in Indian mobile phone and payment industry last year signifying the importance of the Indian market for e commerce giants like Alibaba.