If you had a chance to study under Alibaba Group's founder Jack Ma on entrepreneurship, would you pass it up or grab it?

As many as 36 Chinese businesspeople seized the opportunity, weathering fierce competition to become the first group of students at Hupan College, which Ma created with seven other entrepreneurs and distinguished scholars whose aim is to nurture the country's next generation of entrepreneurs.

The college in Hangzhou, Zhejiang province, held its opening ceremonies on Friday.