In an important step to bridge the gap between elite sport and entrepreneurship, the International Olympic Committee (IOC) has partnered with Alibaba.com to launch the fourth edition of the Athlete365 Business Accelerator program.
The initiative aims to equip current and former Olympians with the skills and resources needed to transition into successful business ventures.
The program, which launched its first phase on December 3, is designed to harness athletes’ determination and discipline and channel these qualities into the commercial world. As the first global Olympic and Paralympic e-commerce services partner, Alibaba.com brings a wealth of expertise in global commerce and digital marketplaces.
This year’s edition has attracted hundreds of registrations from all over the world. Notably, 55% of participants have previously represented their country at the Olympic Games, while 46% are still active competitors who want to embark on an entrepreneurial journey at the same time. The diverse cohort includes athletes from Europe (38%), Africa (20%), North America (17%), the Asia-Pacific region (13%) and South America (12%).
The entrepreneurial ambitions among the participants are palpable: more than half already have a business idea, 17% have developed a prototype and 12% run a company that generates stable income. The program aims to build on this foundation by providing customized education on business fundamentals, e-commerce strategies and global business practices.
To mark the launch, a masterclass was given by Tony Parker, a two-time Olympian and successful entrepreneur, who serves as Alibaba.com’s global brand ambassador. His session provided invaluable insights into his journey from professional sports to the business arena, inspiring athletes to leverage their unique skills in new ventures.
After the masterclass, the program consists of online classes, virtual bootcamps from December 9 and one-on-one mentoring sessions with experts from Alibaba.com. These components aim to develop participants’ understanding of creating viable business models and navigating the complexities of e-commerce.
Participants will learn about Alibaba.com’s advanced artificial intelligence tools, which are revolutionizing the way small and medium-sized businesses buy products and connect with suppliers around the world. The technology enables intuitive searches using videos, images and natural language, simplifying the purchasing process and turning product visions into reality.
Kuo Zhang, president of Alibaba.com, commented on the synergy between athleticism and entrepreneurship: “Athletes and entrepreneurs share qualities such as perseverance, determination and a willingness to take risks. We are proud to support them in making a seamless transition to e-commerce and global trade.”
Data from Alibaba.com shows that nearly 63% of former athletes struggle to find a new career after retiring from sports. The Athlete365 Business Accelerator program addresses this issue by providing a structured path to entrepreneurship, allowing athletes to apply their dedication and work ethic beyond the sporting arena.
Anne-Sophie Voumard, Managing Director of IOC Television & Marketing Services, emphasized the importance of supporting athletes holistically: “Our partners play a crucial role in empowering athletes at every stage. Through initiatives like this accelerator, we want to help them be successful, both on and off the field.”
The collaborative nature of the program underlines the IOC and Alibaba.com’s shared commitment to advancing talent development and economic opportunity on a global scale. By integrating educational resources, technological tools and mentorship, the initiative aims to create a new generation of athlete-entrepreneurs capable of making significant contributions to the business world.
Participants will not only build practical skills but also expand their professional networks, empowering them to tackle the challenges associated with starting and growing a business in today’s digital economy.
As the Athlete365 Business Accelerator enters its fourth edition, the program continues to evolve and reflect the changing dynamics of both the sports and business landscapes. Alibaba.com’s support extends its reach and impact, providing athletes with unparalleled access to global markets and cutting-edge e-commerce solutions.
With the launch of this first phase, the stage is set for participants to embark on transformative journeys, applying the dedication that defined their athletic careers to their entrepreneurial endeavors. The initiative represents a meaningful step toward ensuring athletes can successfully forge a new professional path, contributing their unique perspectives and skills to the broader economy.