The fifth “929 Challenge” startups competition’s grand final was held yesterday, aiming to foster innovation and cooperation between China and Portuguese-speaking countries (PSCs), as well as connect and inspire the next generation of entrepreneurs.
This year’s competition set a new record involving over 1,600 participants of more than 400 teams and start-ups from nine countries. It provided total prize money of 300,000 patacas, along with opportunities to attract investments from Chinese mainland and PSC investors.
The competition’s final was held at the Complex of Commerce and Trade Cooperation Platform for China and Portuguese-speaking Countries in Nam Van, aka Forum Macao Complex. Eight startup teams and eight university student teams from Brazil, the Chinese mainland, Hong Kong, Mozambique and Portugal, as well as local teams reached the final.
Competition Judge Derek Chui Tin Yau told reporters on the sidelines of the event that the overall quality of the participating projects was more outstanding compared to previous years, with higher maturity and broader industry coverage, such as biomedical fields (including medical devices and other subsectors) and clean technology, while SaaS*-related projects, which were popular in previous years, have decreased, aligning with recent trends.
Chu added that the competition attracted investment teams from Macau and the Greater Bay Area (GBA), marking a significant accomplishment. Chou also said he hoped that the startups could achieve meaningful exchanges through the platform and express willingness to return to Macau.
The startups competition was organised by the Permanent Secretariat of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao).
The forum’s Deputy Secretary General António Lei Chi Wai said in a speech that the competition provided a great platform to benefit startups and universities to explore markets, test concepts, forge connections, and open doors that would otherwise be far more difficult to access.
According to a statement released by the organiser yesterday, among the about 400 project applications, PSCs became the most active group of participation, accounting for about 65 percent, with 170 startups from African Portuguese-speaking countries and Timor-Leste (East Timor) competing, marking a 73 percent increase compared to last year.
The world’s nine PSCs consist of Angola, Brazil, Cabo Verde (Cape Verde), Equatorial Guinea, Guinea-Bissau, Mozambique, Portugal, São Tomé and Príncipe and Timor-Leste, with a total population of nearly 300 million inhabitants.
*SaaS (Software as a Service) is a method of software delivery and licensing where users access software applications over the internet (typically through a web browser) on a subscription basis, rather than buying and installing it on their own computers. -DeepSeek
“929 Challenge” startups competition judge Derek Chui Tin Yau poses during an interview with reporters on the sidelines of yesterday’s competition final at the Complex of Commerce and Trade Co-operation Platform for China and Portuguese-speaking Countries in Nam Van.
The forum’s Deputy Secretary General António Lei Chi Wai (first row, fifth from left), fifth “929 Challenge” startups competition judge Derek Chui Tin Yau (second row, fifth from left) and other attendees pose for a group photo during yesterday’s competition final at the Complex of the Commerce and Trade Co-operation Platform for China and Portuguese-speaking Countries (PSCs) in Nam Van.– Photos: Ida Cheong
