Alibaba Pictures To Invest RMB1-B In Young Filmmakers Worldwide

Alibaba Pictures, a subsidiary of China’s biggest e-Commerce company Alibaba Group (NYSE:BABA), announced it would invest RMB 1-B (about US$157-M) in a project to support filmmakers over 3 years.

The initiative, a partnership between Alibaba Pictures, Youku Tudou Inc., Beijing Film Academy and the Communication University of China, will cultivate filmmakers under 45 anni across the world, said Zhang Qiang, CEO of Alibaba Pictures Wednesday.

Selected candidates will be given the opportunity to work under one of 3 mentors: Anthony LaMolinara, winner of visual effects of the 77th Annual Academy Awards; Hollywood director Renny Harlin; and Chinese director Zhang Yibai.

The initiative will also provide opportunities for talent in animation, film design, special effects and comedy, said Zhang.