Update: 2020 Bank of China Trophy One Million Dollar Macao Regional Entrepreneurship Competition

Objective:

The Competition aims to provide an opportunity for students to create and evaluate their new business and to prepare them to start their future career in entrepreneurship.

Target:

The Competition is open to all current tertiary students of Macao higher education institutes and Macao residents studying in higher education institutes overseas.

Date* (tentative)
Activity
06 Jan 2020
Acceptance of Application
15 Jan 2020Briefing Session of the Competition (Click here to register)
10 Feb 2020

Extend to 20 Mar 2020

Deadline of Application & Submission of Executive Summary
28 Feb 2020

Extend to 08 Apr 2020

Announcement of 1st Round Result (Top 18). Assignment of Mentors
The organizer is considering the changes to the subsequent arrangements for the competition in the light of the situation caused by the novel coronavirus, including possible cancellation of some parts of the competition, or the changes of the dates and presentation format (such as online presentation). Further details will be announced as soon as possible after the considerations.

*The University of Macau reserves the right to change the dates due to unexpected circumstances and will update applicants if the need arises.

Judging Panel

The Judging Panel will be composed of entrepreneurs, investors and academics invited by the University.

Judging Assessment

There will be 3 rounds of assessment  ↓↓↓

Round 1 Assessment: Executive Summary

  • Participating teams are required to submit a 2-page executive summary to present their business together with the application of the competition.
  • The assessment will focus on the innovativeness, feasibility and viability of the proposed product / service.
  • 18 teams will be selected and they are required to attend the Entrepreneurship Training Workshop, Seminar and Exchange Activities.
  • Each selected team will be assigned a mentor.

Round 2 Assessment and Final Round (TBC)

The organizer is considering the changes to the subsequent arrangements for the competition in the light of the situation caused by the novel coronavirus, including possible cancellation of some parts of the competition, or the changes of the dates and presentation format (such as online presentation). Further details will be announced as soon as possible after the considerations.

Round 1 Assessment: Executive Summary (2-page in PDF format)

  1. Please state the team name, name of team leader and team composition. Please use the product/ service as file name.
  2. It is a summary of the entire business plan which should provide information on feasibility and viability of the proposed product/ service.
  3. The focus should be on the innovativeness of the proposed product, service or business model.
  4. It should introduce your business and product, and highlight its strengths.
  5. It should be written in single space in A4 size. Please use 12-point 新細明體 and insert page number. The size of file should not exceed 4M.
  6. Additional pages, cover page, appendices are not allowed and will result in disqualification.
  7. Below are some suggested contents for reference:
  • Mission Statement – it explains what your business is all about; what problem you are trying to solve and how. It should be explained in a few sentences.
  • Company Information – it covers the date of your business establishment, the names of founders and
  • their roles, as well as number of existing employees.
  • Products/ Services – briefly introduce your products or services and provide proof on its feasibility and viability. We will not accept any technology or innovation that is violating the physical law or assuming the product is produced based on a technology only can be realized by imagination.
  • Potential Market – it explains why there is a need in your target market and how your business satisfies their needs.
  • Summary of your company’s future plans.

Round 2 Assessment: Business Plan (no more than 15 PowerPoint slides in PDF format)

The business plan should be condensed and to explain the value proposition of your product/service, and should explain the practicability of the plan execution and fundability potential. Below are some suggested contents for reference:

  1. Brief outlines such as name of your business, description of your product/ service.
  2. Summarize the problem or opportunity that you have identified in the market and address how your product or service address the problem.
  3. Product development plan. What is the target market size? General pricing plan for the products or services.
  4. Marketing strategies to attract customer base, distribution plan, sales channel.
  5. Main competition to the company. Competitive advantage by explaining how the product/service differs from other offerings.
  6. Briefly summarize the team competence which makes your business plan happens.
  7. Startup budget: budget plan and projected cash flow. Exit Strategy.
  • The team is NOT required to be a business registered company. The team can be an early stage company that had established no more than 3 years. The company can be at inventor stage or seed stage where there is an idea, a concept, or even a product, but little or no income has been generated yet.
  • Companies that have received prior investment of more than RMB10,000,000, or ventures that have been in establishment/ operation for more than 3 years, are NOT allowed to join the Competition.
  • Winning teams of One Million Dollar Entrepreneurship Competition from all regions are NOT eligible to join the Competition.
  • The size of each team must be between 2 to 5 members, among which at least 1 member or above should be
    1. Current tertiary students of Macao higher education institutes; or
    2. Macao residents studying in higher education institutes overseas.
  • All team members must be registered members of the team. Changes of team members are not allowed after Round 2 Business Plan submission.
  • Each team must have at least 1 member with at least 20% ownership in the proposed company. The equity of the company should not be changed during the Competition.
  • A team leader should be identified for each team, who will be point-of-contact with the Competition organizer.
  • Each participant can only join up to 1 team. And each team can only join 1 regional competition which is closest to their place of study. The team will be disqualified from the entire competition if repeated registration is found.
  • Registration is open from now on until 20 March 2020.
  • Please fill in the e-form and submit a 2-page Executive Summary for application. Here is the application link: https://go.um.edu.mo/euc62880
  • Team name has to be the same as company name and it is not allowed to be changed during the competition.
  • Each team is ONLY permitted to submit 1 Executive Summary for Round 1 Assessment.
  • There will not be a limit on the topics for submission, however, we encourage applicants to focus on the technology and innovation driven business. The topics can be related to nanotechnology, information technology, renewable energy, environment, healthcare, financial services, logistics and social enterprise, etc.
  • All the materials should be submitted online. Hard copies will be accepted.
  • All the materials should be written in Chinese. Entries must be the original work of entrants.
  • 7 shortlisted teams from Round 2 assessment are required to join the Final Round of regional competition, as well as the activities of Grand Final.
  • Organizer reserves the right to verify the team’s company information.
2020-02-07T16:46:45+08:007 Feb 2020|