The Bank of China Trophy One Million Dollar Macao Regional Entrepreneurship Competition was held at the University of Macau (UM) again this year, with the trade show and elevator pitch session taking place at the Student Activity Centre. The shortlisted teams will compete in the Macao regional final. The top three teams that emerge from the regional final will represent Macao in the national final, where they will compete with other regional finalists for the grand prize of over RMB 1 million as start-up capital as well as financing opportunities.

During the trade show and elevator pitch session, the participating teams showcased their projects covering topics such as medical equipment, biotechnology, smart city, and financial technology. Through exhibitions and elevator speeches, the participants showcased the prototype of their products, highlighted the new technologies used in developing their products, and explained their innovative business plans. The 90-second elevator pitch aimed to train participants to accurately present the gist of their business plans to potential investors in a limited time frame.

The One Million Dollar Entrepreneurship Competition was launched in 2011 by the Hong Kong University of Science and Technology. In recent years, regional competitions have been held in Hong Kong, Macao, Foshan, Shenzhen, Guangzhou, Beijing, and the Yangtze River Delta. This is the eighth time that UM has hosted the Macao regional competition, and the event is sponsored by the Bank of China Macau Branch with total prizes worth over MOP 110,000.

Guests who attended the opening ceremony of the competition included Sou Man Kin, deputy general manager of the Personal Banking and Channel Management Department of the Bank of China Macau Branch; Lao Ieng Lam, head of the Scenario Development Division of the Personal Banking and Channel Management Department of the Bank of China Macau Branch; Wong Wai King, chairman of the Macao Legal Exchange and Promotion Association; Stella Lok, managing partner of Leng Kuan Certified Public Accountants; José Chan Rodrigues, president of Macau Live Streaming Association; Lio Kuong Man, supervisor of the Centre for Entrepreneurship and Career Planning at the Macau University of Science and Technology; Cindy Lam, director of the Alumni and Development Office at UM; Jerome Yen, head of the Centre for Innovation and Entrepreneurship at UM; and Elvo Sou, head of the Student Counselling Section at UM.

Source: Institute of Collaborative Innovation