UM kicks off One Million Dollar Macao Regional Entrepreneurship Competition

Teams present their products

This year, the University of Macau (UM) continues to hold the One Million Dollar Macao Regional Entrepreneurship Competition. The Trade Show and Elevator Pitch have been held successfully. The shortlisted teams will compete in the Macao regional final on 5 May. 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 big prize of RMB 1 million as venture capital as well as financing opportunities.

The emerged teams from the first round presented their projects related to medical equipment, new energy, environmental protection, internet, and smart tourism, through exhibitions and elevator speeches, during which they highlighted the new technologies used in developing their products and explained their innovative business plans. The 90-second elevator pitch aims to train participants to present the gist of their business plans to potential investors within a limited amount of time to pique their interest. During the exhibition, the teams presented their projects to the audience through display boards and verbal illustration.

The One Million Dollar Entrepreneurship Competition was launched in 2011 by the Hong Kong University of Science and Technology, with the aim of providing a platform for students, entrepreneurs, and potential investors to exchange ideas and explore collaboration opportunities. In recent years, the regional competitions have been held in Hong Kong, Macao, Zhongshan, Foshan, Shenzhen, Guangzhou, Beijing, and the Yangtze River Delta. This year’s Macao regional competition is hosted by UM and continues to be sponsored by the Bank of China Macau Branch with total prizes worth over MOP110,000.

The following guests attended the opening ceremony: Lok Choi Chan, integrated marketing director of the Bank of China Macau Branch’s Personal Banking and Channel Management Department; Kam Tat Hang, deputy general manager of the Bank of China Macau Branch’s Praia Park Sub-branch; San Choi, deputy director of the Integrated Services Department of Macao Young Entrepreneur Incubation Centre; Lin Yongjia, associate professor of the School of Business of the Macau University of Science and Technology (MUST); Florence Leong, deputy officer of the Centre for Entrepreneurship and Career Planning of MUST; Tou Cheuk Kit, representative of the Student Affairs Office of the City University of Macau; Jerome Yen, head of the Centre for Innovation and Entrepreneurship of UM; and Elvo Sou, head of the Student Counselling Section of UM.

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