Business

Internship with top China firms launched


Undergraduates here who are keen to head to China to get some work experience with one of the nation's top technology players, such as the Alibaba Group, are in luck.

A new internship scheme has been launched to award such opportunities.

In the first of what is intended to be the annual Singapore Valley Awards, applicants will pitch business ideas to a panel of 10 judges.

Up to nine winners will receive three-month internships with Chinese Internet giants.

These include e-commerce platform Alibaba Group, Internet portal 2345.com, as well as venture capital firms GGV Capital and Matrix Partners.

The winners will receive $2,000 a month during the internship period, starting next year.

The awards are open to Singaporean or Singapore permanent resident full-time third- or fourth-year undergraduates in the six autonomous universities here.

The application period closes on Oct 16.

The initiative is being seeded by $3.35 million in funding from five entrepreneurs: Mr Pang Shengdong, founder of 2345.com; Mr Eddie Wu, managing director of Alibaba Singapore; Mr James Sheng, general manager of Alibaba Singapore; Mr Wang Yue, founder and chief executive of Shanghai Kingnet Technology; and Mr Calvin Cheng, chairman of Retech Technology. It is also supported by local private equity firm Tembusu Partners.

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