The public University of Macau (UM) announced in a recent statement that it has opened applications for its “Bank of China Trophy UltiMater Entrepreneur Competition”, providing students with a platform to develop innovative business ideas and access incubation support.
Organised by UM’s Centre for Innovation and Entrepreneurship (CIE), the competition is open to students enrolled at higher education institutions in Macau, as well as local residents studying overseas, the statement said.
Sponsored by Bank of China (Macau), the competition features a total prize pool of 130,000 patacas, the statement said, adding that the winning teams, including the top three and Outstanding Prize recipients, will also gain access to incubation services valued at over 150,000 patacas.
This year’s edition includes 11 awards, such as Champion, Second and Third prizes, alongside category awards including Best Innovation, Best Business Plan, Innovative Technology, Best Trade Show and Best Elevator Pitch, the statement noted.
The competition focuses on identifying projects in key areas including AI, robotics, smart manufacturing, fintech (financial technology), biomedicine and low-carbon technology, the statement said, noting that a judging panel will assess entries based on feasibility and market potential.
According to the statement, the initiative aims to promote the commercialisation of research by strengthening collaboration between academia, industry, investors and government entities, while supporting the development of an innovation ecosystem in Macau.
The statement underlined that the participating teams will have access to a series of activities, including training camps, information sessions and networking events, noting that the winning teams will also receive incubation support such as office space, mentorship, entrepreneurship training and visits to enterprises in the Chinese mainland.
Outstanding projects may also be recommended for funding under the scheme launched by the Science and Technology Development Fund (FDCT), supporting further development and industry collaboration, the statement said.
The competition is organised in conjunction with several institutions, including the University of Macau Advanced Research Institute in Hengqin (HUMRI), the private Macau University of Science and Technology (MUST) and the private City University of Macau (CityU), among others.
Applications are open until May 7, the statement said, encouraging eligible students to participate and turn innovative ideas into viable business ventures.
This poster provided by the public University of Macau (UM) last week promotes its upcoming “Bank of China Trophy UltiMater Entrepreneur Competition”, now open for applications until May 7.
