The Centre for Innovation and Entrepreneurship (CIE) of the University of Macau (UM) organised the first ‘University of Macau & Bank of China Trophy UltiMater Entrepreneur Competition’. With a total prize pool of over MOP 110,000, the event attracted the participation of nearly 50 teams, spanning various sectors including medical equipment, biotechnology, new materials, and fintech. In the final assessment round, 6 winning teams were selected. These teams will be announced at ‘The UltiMater 2024 – The 3rd UM Innovation and Entrepreneurship Exhibition’ on 8 November.

The competition lasted four months, from the registration day to the final assessment round. Participating teams were required to take part in a series of activities, including a workshop on refining business plans and roadshow skills, a lecture on legal matters related to entrepreneurship, experience sharing sessions, one-on-one mentorship by entrepreneurship coaches, and the Entrepreneurship and Innovation Pilot Elite Program Training Camp at Shenzhen University. The teams also underwent assessments of their elevator pitches and business plan presentations. The judging panel first selected 12 teams to advance to the final assessment round, from which 6 winning teams were ultimately chosen. The projects of the winning teams demonstrated exceptional innovation, market potential, and feasibility, highlighting the diverse development of young people in the innovation and entrepreneurship ecosystem.

The judging panel consisted of the following members: Sou Man Kin, deputy general manager at the Bank of China (Macau) Limited (BOC Macau); Jin Weigang, president of Macao Juvenile Venture International Group Limited; Avi Sun, president of China Success (Guangdong) Capital Management Limited; Li Yongzhou, founder and chairman of Zhongke Meicheng; Chen Tianlan, founder of Digifluidic; Bill Gao, managing director of Macau Boss Translation Limited; and Filipe Lei, vice chairman of the Macao Legal Exchange and Promotion Association. 

In addition, to foster a spirit of sharing and collaboration in innovation and entrepreneurship, CIE organised a celebratory dinner, where UM Business Administration doctoral students Lin Zihong, Chen Chengyi, and Zhou Jiayu were invited to share their career experiences. Other guests included Sou Man Kin, deputy general manager at BOC Macau; Chan Chong Keong, deputy general manager of the Inclusive Finance Department of BOC Macau; Cheong Meng Wai, general manager of the University of Macau Sub-branch of BOC Macau; Xu Jian, vice rector of UM; and Cindy Lam, director of the Alumni and Development Office.

The award ceremony will take place at ‘The UltiMater 2024 – The 3rd UM Innovation and Entrepreneurship Exhibition’ on 8 November. During the event, the projects of the top 12 teams will be showcased, and the 6 winning teams will be announced.