Two teams formed by University of Macau (UM) students, namely ‘2048 (Macau) Limited’ and ‘An Information Database for Enterprises Based on Natural Language Processing’, recently won the first prize and the third prize, respectively, at the 2020 Bank of China Trophy One Million Dollar Macao Regional Entrepreneurship Competition. Because of the novel coronavirus outbreak, the final stage of the competition was held on the internet. A team named ‘Colorful City’ from the Macau University of Science and Technology won the second prize. The winning teams will represent Macao in the Grand Final of the One Million Dollar Entrepreneurship Competition.

2048 (Macau) Limited is a company composed of UM students and alumni. The company aims to produce craft beer with local characteristics by fusing traditional beer brewing techniques from the West and tea brewing methods from the East, as well as to harmonize the creative local traditional culture. They produce craft beer with local feature and recently they launched five products that blending with traditional tea, dried flower and fruit tea. ‘Colorful City’ is committed to developing an AI-based bionic robot that can clean glass curtain walls. ‘An Information Database for Enterprises Based on Natural Language Processing’, strives to develop a platform for intelligent semantic analysis and text visualization, which can structuralize unstructured texts and establish knowledge maps to make it easier for users to find the information they need. In addition, four other teams, namely ‘Smarmac Technology’, ‘Weather Classroom (Macau)’, ‘ARM’, and ‘Faraday Technology Energy Co, Ltd’, won the Outstanding Award. The team ‘Macao Electric Vehicle Development Team’ won the Best Trade Show Award while the team ‘Colorful City’ won the Best Elevator Pitch Award.

The One Million Dollar Entrepreneurship Competition was launched in 2011 by the Hong Kong University of Science and Technology, with the aim of discovering the best business proposal. This year’s regional competitions were held in Hong Kong, Macao, Zhongshan, Foshan, Shenzhen, Guangzhou, Beijing and the Yangtze River delta. The Macao regional competition was sponsored by the Bank of China (Macau Branch).