In a significant move 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 equip current and former Olympians with the skills and resources needed to transition into successful business ventures.

The programme, which commenced its first phase on 3 December, is designed to harness the determination and discipline of athletes, channelling these attributes into the world of commerce. Alibaba.com, as the first worldwide Olympic and Paralympic e-commerce services partner, brings a wealth of expertise in global trade and digital marketplaces to the table.

This year’s edition has attracted several hundred applicants from across the globe. Notably, 55% of participants have previously represented their countries at the Olympics, while 46% are still active competitors looking to simultaneously embark on entrepreneurial journeys. The diverse cohort includes athletes from Europe (38%), Africa (20%), North America (17%), the Asia-Pacific region (13%), and South America (12%).

The entrepreneurial ambitions among the participants are palpable: over half already have a business idea, 17% have developed a prototype, and 12% are running businesses generating stable revenue. The programme seeks to build on this foundation by providing tailored education on business fundamentals, e-commerce strategies, and global trade practices.

Marking the launch, a masterclass was delivered by Tony Parker, a two-time Olympian and successful entrepreneur, who serves as Alibaba.com’s global brand ambassador. His session offered invaluable insights into his journey from professional sports to the business arena, inspiring athletes to leverage their unique skill sets in new ventures.

Following the masterclass, the programme will feature online lessons, virtual bootcamps starting on 9 December, and one-to-one mentoring sessions with experts from Alibaba.com. These components are aimed at developing participants’ understanding of creating viable business models and navigating the complexities of e-commerce.

Participants will gain exposure to Alibaba.com’s advanced artificial intelligence tools, which are revolutionising how small and medium-sized enterprises source products and connect with suppliers worldwide. The technology allows for intuitive searches using videos, images, and natural language, simplifying the sourcing process and turning product visions into reality.

Kuo Zhang, President of Alibaba.com, commented on the synergy between athletic prowess and entrepreneurial spirit: “Athletes and entrepreneurs share qualities like grit, determination, and a willingness to take risks. We are proud to support them in making a seamless transition into e-commerce and global trade.”

Data from Alibaba.com indicates that nearly 63% of former athletes struggle to find new careers after retiring from sports. The Athlete365 Business Accelerator programme addresses this issue by providing a structured pathway into entrepreneurship, enabling athletes to apply their dedication and work ethic beyond the sporting arena.

Anne-Sophie Voumard, Managing Director of IOC Television & Marketing Services, emphasised 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 both on and off the field.”

The collaborative nature of the programme underscores the shared commitment between the IOC and Alibaba.com to foster 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 athlete-entrepreneurs capable of making significant contributions to the business world.

Participants will not only build practical skills but also expand their professional networks, positioning them to navigate the challenges of starting and growing a business in today’s digital economy.

As the Athlete365 Business Accelerator enters its fourth edition, the programme continues to evolve, reflecting the changing dynamics of both the sports and business landscapes. The support from Alibaba.com enhances its reach and impact, offering athletes 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 transformative journeys, applying the dedication that defined their athletic careers to their entrepreneurial endeavours. The initiative represents a meaningful step towards ensuring that athletes can successfully pivot to new professional paths, contributing their unique perspectives and skills to the broader economy.