UM kicks off 2022 One Million Dollar Macao Regional Entrepreneurship Competition

UM kicks off 2022 One Million Dollar
Macao Regional Entrepreneurship Competition

This year, the University of Macau (UM) continues to hold the One Million Dollar Macao Regional Entrepreneurship Competition, with the trade show and the elevator pitch contest already being held successfully. The shortlisted teams will compete in the Macao regional final on 27 April. 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.

During the contest, the winning teams from the first round presented their projects on topics such as medical equipment, biotechnology, smart city, and financial technology. Through exhibitions and elevator speeches, the participants 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 amount of time to pique their interest. In the exhibition session, the teams presented their products or business plans to the audience through exhibition panels and physical displays.

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, 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.

Guests attending the opening ceremony of the competition included Sou Man Kin, deputy director of the Personal Banking and Channel Management Department of the Bank of China Macau Branch; Aaron Cheong, president of the Macau Shenzhen Longhua Economic and Cultural Exchange Promotion Association; Wong Wai King, chairman of the Macao Legal Exchange and Promotion Association; Florence Leong, deputy officer of the Centre for Entrepreneurship and Career Planning of MUST; Claudia Xu, vice rector (Administration) of UM; Jerome Yen, head of the Centre for Innovation and Entrepreneurship of UM; Liu Tzu-Ming, associate professor of the Faculty of Health Sciences of UM; and Elvo Sou, head of the Student Counselling Section of UM.