In an important step to bridge the gap between elite sports and entrepreneurship, the International Olympic Committee (IOC) has partnered with Alibaba.com to launch the fourth edition of the Athlete365 Business Accelerator programme.
The initiative aims to provide current and former Olympic athletes with the skills and resources necessary to transition into successful business ventures.
The program, which began its first phase on December 3, aims to strengthen the determination and discipline of athletes, and channel these traits into the world of commerce. As the first global e-commerce services partner for the Olympic and Paralympic Games, Alibaba.com brings a wealth of experience in global commerce and digital markets.
This year’s edition attracted several hundred applicants from all over the world. It is worth noting that 55% of participants have previously represented their countries in the Olympic Games, while 46% are still active competitors looking to embark on entrepreneurial journeys at the same time. The diverse group includes athletes from Europe (38%), Africa (20%), North America (17%), Asia-Pacific (13%) and South America (12%).
Entrepreneurial ambitions among participants are clear: more than half already have a business idea, 17% have developed a prototype, and 12% run a business that generates stable revenues. The program seeks to build on this foundation by providing customized education on business fundamentals, e-commerce strategies, and global trade practices.
To mark the launch, a masterclass was delivered by Tony Parker, a successful businessman and two-time Olympian, 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 into new ventures.
Post-course completion, the program will include online classes, virtual bootcamps starting on 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 dealing with the complexities of e-commerce.
Participants will learn about Alibaba.com’s advanced AI tools, which are revolutionizing how SMEs source products and connect with suppliers around the world. This technology allows for intuitive searches using videos, images and natural language, streamlining the sourcing process and turning product visions into reality.
Ko Chang, President of Alibaba.com, commented on the synergy between athletic prowess and entrepreneurial spirit: “Athletes and entrepreneurs share qualities such as grit, determination and a willingness to take risks. We are proud to support them in making a smooth transition to e-commerce and global commerce.”
Data from Alibaba.com indicates that approximately 63% of former athletes struggle to find new jobs after retiring from sports. The Athlete365 Business Accelerator addresses this issue by providing a structured path to entrepreneurship, enabling athletes to apply their dedication and work ethic outside of the sports arena.
Anne-Sophie Fumard, Director General of IOC Television and Marketing Services, emphasized the importance of supporting athletes holistically: “Our partners play a vital role in empowering athletes at every stage. Through initiatives like this accelerator, we are committed to helping them succeed on and off the field.
The collaborative nature of the program underscores the shared commitment between the IOC and Alibaba.com to advance 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 sports entrepreneurs capable of making significant contributions to the business world.
Participants will not only build practical skills, but will also expand their professional networks, positioning themselves for the challenges of starting and growing a business in today’s digital economy.
As the Athlete365 Business Accelerator enters its fourth edition, the program continues to evolve, reflecting the changing dynamics of both the athletic and business landscape. Alibaba.com’s support enhances 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 transformational journeys, applying the dedication that has defined their sporting careers to their entrepreneurial endeavors. This initiative represents a meaningful step towards ensuring that athletes are able to successfully transition into new professional paths, and contribute their unique perspectives and skills to the broader economy.