【Bloomberg】Startups That Wowed Jack Ma and Won Alibaba's Backing

After hearing 600 pitches spanning fintech and robotics to healthy aging, three startups will share $3 million in backing from an entrepreneurs fund set up by billionaire Jack Ma.

Jumpstarter, a competition for new ideas and products similar to TechCrunch Disrupt, has the backing of Ma’s Alibaba Group Holding Ltd., which unveiled its HK$1 billion ($128 million) fund in 2015 to support startups.

A shortlist of six candidates made the final pitches on Tuesday, getting 8 minutes to talk about their products and then 4 minutes of questioning by the judging panel. Among the criteria used to decide winners were innovation, community impact and market potential.