Alibaba-backed Chinese e-commerce platform Taobao is facing some serious regulatory scrutiny due to the company's reputation of being the primary outlet for cheap, and counterfeit goods. In a bid to shake off this unwanted attention, Taobao has tapped the creativity of at least 72 sellers to flaunt their creations during the company's three-day Taobao Maker Festival held in Shanghai.

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The Taobao Maker Festival, which kicked off on July 22, aims to highlight Taobao's growing community of sellers that peddle original and creative products, according to Tech Node.

To show its support, Alibaba is working with regulators to help brand owners, who are mostly new to the e-commerce platform. Alibaba is also providing aid for these sellers to properly navigate the complicated world of intellectual property, patents, and trademark rights.

In the past couple of years, Alibaba has been working to erase the notion of counterfeiting on its platform. In fact, the company has undergone a major transformation which is in part fueled by the growing community of millennials who are making and buying innovative products.

In a statement acquired by South China Morning Post, Taobao chief marketing officer Chris Tung said, "Millenials are the driving force behind Taobao, with more than 70 per cent of buyers in their 20s and 30s."

Aside from buying things on the platform, more and more millennials are turning their ideas into crafting products which are also being sold the website, Tung added. Statistics reveal that Mobile Taobao serves more than 150 million daily users, this represents more than 70 percent of the company's daily transactions.

TagsTaobao, Alibaba, e-commerce, Taobao site, Taobao platform