WeWork is partnering up with conglomerate Alibaba to launch its WeWork Labs program in China, where they hope to open eighth co-branded spaces throughout the country.
The companies are aiming to help 20 foreign startups enter the Chinese market, with Alibaba Cloud providing them technology support for e-commerce, fintech, logistics, healthcare, and entertainment.
WeWork Labs will provide the startups discounted rental prices and will not seek equity in each company, but instead will hope to see them return as clients in the future.
Additionally, the two companies have partnered with Tsinghua University and Peking University to create training programs for Chinese entrepreneurs that are apart of WeWork Labs.
