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Alibaba.com has announced the launch of the Academy for Women Entrepreneurs (AWE) in Europe. With the initiative, Alibaba’s B2B platform aims to promote gender equality in business and support female entrepreneurship.

AWE is described as “a free advanced educational training and networking program addressed to female owners, entrepreneurs, or co-owners of businesses across the EU”, according to Alibaba.com.

The Academy follows a study conducted by Alibaba among female entrepreneurs across Europe, revealing significant hurdles they face: 94 percent cited societal expectations and gender stereotypes as major barriers to business leadership, while nearly 60 percent highlighted gender as the reason for business failure.

Address disparities

To address these disparities, Alibaba.com has established the AWE initiative, offering advanced educational training, mentoring, and networking opportunities for female business owners or co-owners. In its first year, the Academy will welcome forty female-led companies from across Europe. Over a 10-week period, they will engage with various modules covering leadership, negotiation, strategy, business and financial models, funding, and communications.

The Academy will welcome forty female-led companies.

Participants will have the opportunity to interact with a dynamic community of like-minded industry leaders, investors, mentors, and organizations working to increase gender equality in decision-making, according to Alibaba.com.

Tools and knowledge

Alibaba.com, the international B2B marketplace of the Alibaba Group, is making targeted efforts to attract European SMEs amid increasing competition with Amazon. The platform is clear about its ambition to champion gender equality in business. Michela Rubegni, its marketing director for Europe, stated: “By giving women entrepreneurs the tools and knowledge to empower themselves, we believe that we can ultimately contribute to a more inclusive and prosperous global economy.”

‘We can contribute to a more inclusive global economy.’

Alibaba.com’s analysis suggests that establishing support groups facilitating collaborative problem-solving among female entrepreneurs can promote diversity within the entrepreneurial ecosystem.