Alibaba founder Jack Ma and seven other entrepreneurs opened a school for business startups in Hangzhou, Zhejiang province, on Monday.

Hupan College is in the city's West Lake scenic area and aims to provide lectures to those whose own businesses are in the beginning stages or who want to start their own businesses.

Ma is president of the school. The lectures will start in mid-March, according to Zhang Zhenyi, an employee with Alibaba who is in charge of the construction and preparations for the school.