Alibaba announced today that it has launched the $129 million non-profit organization, the Alibaba Hong Kong Young Entrepreneurs Foundation, to help young people who want to start businesses on the e-commerce giant’s online marketplaces. Given the rise of FinTech in Hong Kong and Alibaba's transition from e-commerce startup to FinTech giant, it will be interesting to see how this initiative spurs the next generation of Hong Kong entrepreneurs to drive innovation in global finance over the coming years.