The 3^rd “Parafuturo de Macao” Innovation and Entrepreneurship Competition will be open for registration from today to June 17. The Competition will offer two new awards, the Best Investment Value Award and the Excellent Portuguese-speaking Countries Project Award, with rich rewards. The winning teams will have an opportunity to be selected for the five major international innovation and entrepreneurship competitions. The organizers hope to set up a golden track for entrepreneurs both at home and abroad to get in touch with global high-tech innovation.

Parafuturo de Macau Investment and Development Limited jointly organized the “Parafuturo de Macao” Innovation and Entrepreneurship Competition with the Macao Young Entrepreneur Incubation Centre and the Association for Promotion of Science and Technology of Macau. Lam Ka Wai, Executive Director of Parafuturo de Macau Investment and Development Limited, CEO of Macau Young Entrepreneur Incubation Centre and Vice Chairman of the Preparatory Committee for the Competition, said that the Competition aims at discovering entrepreneurs and providing development opportunities for start-ups. It has been held for three consecutive years since 2018, attracting more than 250 projects of innovation and entrepreneurship. The winning teams were recommended by the Competition to compete at international competitions. All of them had good performances and established their reputation in the circle of entrepreneurship. Some projects were favored by angel fund, which accelerated the growth of the projects and also proved the charm of the golden track.

In order to highlight the positioning of Macao as the Commercial and Trade Co-operation Service Platform between China and Portuguese-speaking Countries and the open investment environment in Macao, in addition to the champion, the first runner-up and the second runner-up, the Competition has two additional awards: the Best Investment Value Award and the Excellent Portuguese-speaking Countries Project Award. Five big names in the circle of entrepreneurship and investment from Mainland China will be invited to vote for the former award in the finals. The latter is for discovering outstanding Portuguese and Brazilian entrepreneurship projects. The organizers, in cooperation with famous local incubators, will set up two separate competition zones in Portugal and Brazil. The finalists will compete for the award in the finals. The total reward is more than 300,000 MOP.

The winning teams will have the chances to, on behalf of Macao, participate in the finals of the 2020 China College Students’ “Internet Plus” Innovation and Entrepreneurship Competition, China Innovation & Entrepreneurship Competition, Beijing-Tianjin-Hebei & Guangdong-Hong Kong-Macao Youth Innovation and Entrepreneurship Competition, Fosun Protechting InnoStar Global Innovation Competition and Create@Alibaba Cloud Startup Contest (Guangdong, Hong Kong and Macao Competition Area), with a maximum of two places for each competition.

Ieong Chi San, Vice Chairman of the Association for Promotion of Science and Technology of Macau and Vice Chairman of the Preparatory Committee for the Competition, introduced the review details and schedule. Online application will be available from now until June 17. After a professional assessment of the project’s innovativeness, feasibility, profitability, market competitiveness and comprehensive team strength, the finalists will be announced on July 10 and present roadshows at the Macao Science Center on Auguest 18.

Given the widespread impact of the coronavirus, the Technology Forum on “how scientific and technological innovation copes with the outbreak of epidemic” will be held on the same day as the finals. It is planned to invite representatives of well-known technology enterprises, research scholars from local universities, and local entrepreneurs to gather together to analyze how the scientific and technological innovation community applies technologies such as bio-medicine, Internet of things, and big data to assist drug R&D, materials procurement and products and services supply. At the same time, the influences and opportunities brought by the epidemic on start-ups will also be discussed to find new solutions for pain points.

For more information, please visit the website of Macao Young Entrepreneur Incubation Centre (www.myeic.com.mo) or the Association for Promotion of Science and Technology of Macau (www.mapst.org). For online application for the Competition, please visit startup.myeic.com.mo.