The second edition of the 928 Challenge has concluded the registration period with some 1,256 participants, representing 249 teams from China and Portuguese-speaking countries. The entrepreneurial competition was organized by the Permanent Secretariat of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao), the City University of Macau (CityU), and various higher education institutions from Macao, mainland and overseas.
This year’s competition received increased registration numbers from Portuguese-speaking countries, demonstrating that Macao’s role as the platform between China and Portuguese-speaking countries has been highly regarded with more in-depth exchanges and cooperation between the two sides.
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The 928 Challenge aims to consolidate Macao's role as a platform between China and Portuguese-speaking countries. The competition builds an entrepreneurial ecosystem that helps students broaden their horizons, further global connections, and bridges start-ups and investors. This year's edition will be held under a different structure: one dedicated to university students and a new track open to the participation of start-up businesses to attract more participants. It engages students and start-ups from the two sides to propose business ideas for new ventures based on the 17 Sustainable Development Goals of the United Nations, injecting fresh energy into the markets.
Currently, the teams are having a two-week online boot camp led by a group of experts. During the lectures, the guest speakers will share knowledge of the business environment, market strategies, and business opportunities in China and Portuguese-speaking countries and provide professional advice on business proposals to help participants develop more promising business projects to attract investments. Eventually, the eight best university teams and eight best startups will be shortlisted for the final in late October.
According to Prof. José Alves, Dean of the Faculty of Business of CityU and co-founder of the 928 Challenge, “this edition has brought together all local universities, which shows that the education sector understands the importance of the 'Macao platform' and confirms that all are working to increase the entrepreneurial capacity of young generations.” He mentioned that 42 Macao teams has registered for the competition, which included 37 teams representing higher education institutions and five start-up companies.
Dean José Alves pointed out that Macao’s role as the platform has mobilized support from the Guangdong-Hong Kong-Macao Greater Bay Area, China, and Portuguese-speaking countries. “Going forward, we hope to turn the Macao platform into a global network with impact,” said Prof. Alves.
The finals of the second 928 Challenge will be held at the World Trade Center Macau on 29 October (Saturday). The best 16 teams shortlisted will present their business proposal to the jury, composed of academics and entrepreneurs. The top three winning teams will share a prize of MOP70,000, as well as a MOP30,000 cloud service prize, sponsored by Chinese technology company – Alibaba. After the competition, the organizer will arrange business matching sessions between winning teams and potential investors to explore forward-looking marketing strategies, preparing the projects to access markets.
This year’s sponsors include Galaxy Entertainment Group, ISA TanTec, Alibaba Cloud, KNJ Investments, Companhia de Electricidade de Macau S.A. (CEM), Banco Nacional Ultramarino, Millennium BCP, Moxlink Technology Group Ltd, CESL Asia, C&C Lawyers, MdME Lawyers, and Fidelidade Macau.
For details about the 928 Challenge, please visit https://928challenge.org/.
