Jack Ma, head of Alibaba Group, announced at the 2014 Taiwan and China Entrepreneur Summit today that he is creating a special fund to help Taiwanese young people to start businesses in mainland China.

More than 800 leaders in entrepreneurship gathered together at the event in Taipei. As Asia's richest man, Ma captured most of spotlight at the event. During his 30-minute keynote speech, Ma's stylish speech won bursts of applause. "If you would like to start business in mainland China, please contact us," Ma said in the speech.

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Ma mentioned in the summit that the Chinese mainland has changed tremendously over the past 15 years. Many young people and young entrepreneurs show up in China, but there are not so many Taiwanese entrepreneurs in the same period. This just 50-year-old entrepreneur believes that innovation is young people's responsibility; to give opportunities to young people is the only chance to make transformation for the world.

"In 30s, work for others; in 40s, work for ourselves, in 50s, must pass the work to others, to the young people to work," said Ma.

Some people in younger generation complain about lack of opportunities. Ma shared his opinions, "We complained as well about Microsoft's Bill Gates and Taiwan Semiconductor Manufacturing Company's Morris Chang 'robbed' our opportunities. But each generation, everyone would have opportunities. We must see the hardships, efforts, and prices behind success."

Applying for over 30 jobs and not receiving an offer, Ma told the attendees his story: 25 people applied to the job in a foreign fast-food restaurant, and 24 people were hired. He was the only one who was not. The supervisor was a Taiwanese.

Ma hoped to tell the young people that fear and being vast and hazy are not horrible; what important is to think about what myself can do. "The key is to start changing from now on."

Ma suggested Taiwanese young people visit Mainland China to see the market. He would like to help the small and medium companies worldwide including Taiwanese ones to sell products in Mainland China. Ma also hoped more Taiwanese young people to start business in Mainland China. 

TagsJack Ma, Taiwan and China Entrepreneur Summit