To cope with the government on the promotion of creative and innovative culture and the encouragement of youth entrepreneurship, the University of Macau will continue to organize “2023 Bank of China Trophy One Million Dollar Macao Regional Entrepreneurship Competition”, title sponsored by the Bank of China (Macau). The Competition is open to all students currently studying at tertiary institutions in Macao as well as Macao residents studying in higher education institutions outside Macao. The cash prize for the Macao regional competition is more than MOP110,000. The top three winners of the regional competition will advance to the final competition for a chance to win RMB 1 million and obtain further funding.
“One Million Dollar Entrepreneurship Competition” was launched in 2011 by the Hong Kong University of Science and Technology. Business proposals with the best prospects have been discovered through this Competition. In 2023, Regional Competitions will be held in 7 regions: Macao, Hong Kong, Guangzhou, Shenzhen, Beijing, Foshan and Yangtze River Delta. The Winning teams that emerge from the Macao regional competition will represent Macao at the final. The Competition is open for application now. The application deadline is 17 February 2023.
An online briefing session will be held in order to allow interested students to know more about the Competition. Please see the details below.
Date: 1 February 2023 (Wednesday)
Registration Form: https://go.um.edu.mo/kgvb1b2s
Application Deadline for Briefing Session: 30 January 2023
More Information: https://cie.ici.um.edu.mo/news/2023_boc_omd/
Application Deadline for Competition: 17 February 2023
- Competition Regulation:
- 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 half of the members or above should be:
- Current tertiary students of Macao higher education institutes; or
- Macao residents studying in higher education institutes outside Macao.
- The participated team must registered all team members at the time of registration. Changes of team members are not allowed after Round 2 Business Plan submission.
- The team members of each team need to hold no less than 50% ownership of the proposed company / project. Moreover, the relevant technology of the project (if have), should be held by: 1) Current tertiary students of Macao higher education institutes; or 2) Macao residents studying in higher education institutes outside Macao.
- The ownership of the company / project 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 17 February 2023.
- Please fill in the e-form and submit a 2-page Executive Summary and declaration for application. Here is the application link:
- 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 and declaration should be submitted online. Hard copies will NOT be accepted.
- All the materials should be written in Chinese. Entries must be the original work of entrants.
- 6 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 and the team should be cooperated with the organizer’s work.