The $307m Taiwan Entrepreneurs Fund and $129m Entrepreneurs Fund for Hong Kong will invest in companies leveraging its technology ecosystem to develop products.

China-based e-commerce group Alibaba committed more than $435m today to two non-profit funds today that will fund entrepreneurs developing technology based on the firm’s ecosystem.

Both the NT$10bn ($307m) Taiwan Entrepreneurs Fund and the HK$1bn ($129m) Entrepreneurs Fund for Hong Kong will fund startup, growth and expansion-stage companies looking to leverage Alibaba’s e-commerce, logistics, mobile, cloud computing and financial services platforms to provide products and services.

Andrew Lee, previously the chief financial officer of EnTie Bank, will be the Taiwan…