SINGAPORE (Oct 11): Chinese e-commerce giant Alibaba Group Holding will be opening a research lab in Singapore as part of its newly-launched global technology research program, Alibaba DAMO Academy.

The group expects to invest over US$15 billion ($20.4 billion) in research and development over the next three years through this new initiative.

In a press release on Wednesday, Alibaba explains that the Academy stands for “Academy for Discovery, Adventure, Momentum and Outlook (DAMO)”, and is designed to increase technological collaboration worldwide; advance the development of cutting-edge technology; and strive to make the world more inclusive by narrowing technology gap.

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