99 yuan per year: Jack Ma's Hupan University launches open classes online

Hupan University, launched by Jack Ma, founder and executive chairman of Alibaba, announced the launching of its open online classes on Sept. 8. The tuition fee will be just 99 yuan per year.

Teachers included in the university faculty include Ma himself, along with Alibaba partners Zeng Ming and Peng Lei. The classes will be available starting from Sept. 10 on the app Ximalaya FM. Currently, the schedule offers one class per week, 52 weeks per year. The duration of each class is 15 to 20 minutes.

While anyone can sign up for the online classes, applicants for the offline classes offered by the university must meet strict requirements. Only those who have founded a business and paid tax for at least three years, lead a team of at least 30 members, and can submit recommendations from three entrepreneurs are eligible to interview for admission. Now the university is in its third round of enrollment. The tuition fee for offline classes is 360,000 yuan for three years' study.

According to promotional materials, Hupan University is “focused on fostering a new generation of modern entrepreneurs within a neo-commercial civilization.” Classes will adhere to key values, such as improving society and protecting public welfare.

An online study platform, Hupan University App, will be launched late this year, which will provide bonus study materials and create an open online community for entrepreneurs.

Located in Hangzhou, Zhejiang province, the university was co-founded by nine entrepreneurs and distinguished scholars including Liu Chuanzhi, founder and chairman of Lenovo; Feng Lun, founder and chairman of Vanton Holdings; Guo Guangchang, chairman of Fosun Group; Shi Yuzhu, chairman of Giant Interactive Group; Shen Guojun, founder and chairman of Yintai; Qian Yingyi, dean of the School of Economics and Management at Tsinghua University; Cai Hongbin, dean of the Guanghua School of Management at Peking University; and Shao Xiaofeng, chief risk officer of Alibaba.