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Alibaba.com’s $1 Million CoCreate Pitch Comes to Europe — Here’s Why Cypriot Startups Should Apply Now

Alibaba.com, one of the world’s largest B2B e-commerce platforms, has launched the European edition of its global CoCreate Pitch competition, offering entrepreneurs across the continent —including in Cyprus—a chance to compete for a share of a $1 million prize pool.

With regional finals split between Las Vegas (September 4-5) for U.S.-based entrants and London (November 14) for European participants, Alibaba’s CoCreate Pitch marks a notable step in the platform’s push to engage early-stage businesses on both sides of the Atlantic.

For entrepreneurs in Cyprus and across Europe, the London event offers a direct opportunity to gain international exposure, and the timing couldn’t be better.

Why Europe and Why Now

By bringing the CoCreate Pitch to London this year, Alibaba.com is making a deliberate move into Europe’s startup scene. The platform, best known for connecting wholesalers and manufacturers, is now broadening its scope to support early-stage entrepreneurs by offering not just sourcing but also funding, mentorship, and logistical support. 

The expansion reflects strong traction: according to Alibaba, supplier listings from Europe have increased fivefold over the past year, while business buyer registrations across the region have risen 38%, with significant growth in countries such as France, Germany, and Italy. 

“The pitching competition has always been a highlight of CoCreate, and it’s great to see the entrepreneurial energy and passion SMEs bring to developing their innovative product ideas,” said Kuo Zhang, President of Alibaba.com, ahead of this year’s Europe finals. 

What’s Up for Grabs

Here’s what’s on offer for European entrants:

  • One grand prize of $200,000 (split evenly between cash and Alibaba.com sourcing credits)
  • Ten Additional Winners: Each receives $20,000 (again, half in cash, half in credits)
  • Free travel and accommodation for finalists pitching in London
  • All participants gain free access to Alibaba.com’s AI-powered sourcing tools and supplier network, helping teams prototype and scale efficiently.

Submissions will be reviewed over a 2–4 month period, based on innovation, feasibility, and market potential. Finalists will pitch live at the London event, with winners selected by a panel of industry leaders and investors.

Who Should Apply: From Founders to Athlete-Entrepreneurs

While the competition is open to any entrepreneur with a physical product idea, this year’s competition also features a special track for athlete-entrepreneurs, those transitioning from professional sports into product-based ventures. Up to 10 spots are reserved for this group at the London finals.

For everyone else, the criteria are simple: a clear concept and the ambition to take it to market. Whether you’re in sustainable packaging, smart kitchen tech, or rethinking fashion exports from Cyprus, Alibaba wants to hear your pitch.

How to Apply

Entrepreneurs can apply in two ways:

  1. By posting a 30 to 60-second video outlining their product idea on Instagram or TikTok, using the hashtag #CoCreatePitch, and tagging @Alibaba.com_official
  2. Or by submitting their pitch directly through Alibaba’s CoCreate portal

The deadline for European entries is October 15, 2025. Finalists will be selected to pitch live at the London event on November 14 (30 finalists announced October 25), with travel and accommodation covered for one representative from each team.

Why It’s Worth a Shot

Opportunities like this are rare, particularly for early-stage founders working outside big markets. CoCreate Pitch offers more than prize money. It gives selected entrepreneurs direct access to manufacturing support, supply chains, and potential global buyers.

For Cypriot businesses, it’s a chance to move beyond the limits of a small domestic market and test a product idea on a much larger stage.

If you’ve got something real to build, this is your chance to move.

Strained Household Finances: Eurostat Data Reveals Persistent Payment Delays Across Europe and in Cyprus

Improved Financial Resilience Amid Ongoing Strains

Over the past decade, Cypriot households have significantly increased their ability to manage debts—not only bank loans but also rent and utility bills. However, recent Eurostat data indicates that Cyprus continues to lag behind the European average when it comes to covering financial obligations on time.

Household Coping Strategies and the Limits of Payment Flexibility

While many families are managing their fixed expenses with relative ease, one in three Cypriots struggles to cover unexpected costs. This delicate balancing act highlights how routine payments such as mortgage installments, rent, and utility bills are met, but precariously so, with little room for unplanned financial shocks.

Breaking Down Payment Delays Across the European Union

Eurostat reports that nearly 9.2% of the EU population experienced delays with their housing loans, rent, utility bills, or installment payments in 2024. The situation is more acute among vulnerable groups: 17.2% of individuals in single-parent households with dependent children and 16.6% in households with two adults managing three or more dependents faced payment delays. In every EU nation, single-parent households exhibited higher delay rates compared to the overall population.

Cyprus in the Crosshairs: High Rates of Financial Delays

Although Cyprus recorded a notable 19.1 percentage point improvement from 2015 to 2024 in delays related to mortgages, rent, and utility bills, the island nation still ranks among the top five countries with the highest delay rates. As of 2024, 12.5% of the Cypriot population had outstanding housing loans or rent and overdue utility bills. In contrast, Greece tops the list with 42.8%, followed by Bulgaria (18.7%), Romania (15.3%), Spain (14.2%), and other EU members. Notably, 19 out of 27 EU countries reported delay rates below 10%, with Czech Republic (3.4%) and Netherlands (3.9%) leading the pack.

Selective Improvements and Emerging Concerns

Between 2015 and 2024, the overall EU population saw a 2.6 percentage point decline in payment delays. Despite this, certain countries experienced increases: Luxembourg (+3.3 percentage points), Spain (+2.5 percentage points), and Germany (+2.0 percentage points) saw a rise in payment delays, reflecting underlying economic pressures that continue to challenge financial stability.

Economic Insecurity and the Unprepared for Emergencies

Another critical indicator explored by Eurostat is the prevalence of economic insecurity—the proportion of the population unable to handle unexpected financial expenses. In 2024, 30% of the EU population reported being unable to cover unforeseen costs, a modest improvement of 1.2 percentage points from 2023 and a significant 7.4 percentage point drop compared to a decade ago. In Cyprus, while 34.8% still report difficulty handling emergencies, this marks a drastic improvement from 2015, when the figure stood at 60.5%.

A Broader EU Perspective

Importantly, no EU country in 2024 had more than half of its population facing economic insecurity—a notable improvement from 2015, when over 50% of the population in nine countries reported such challenges. These figures underscore both progress and persistent vulnerabilities within European households, urging policymakers to consider targeted measures for enhancing financial resilience.

For further insights and detailed analysis, refer to the original reports on Philenews and Housing Loans.

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