About 250 teams have registered for the new edition of the 928 Challenge startup bootcamp, the organisers of the entrepreneurship competition indicated.
The entrepreneurship competition – currently on its second edition – held between China and Portuguese- speaking countries officially started on October 3 following a registration period that saw some 1,256 participants, representing 249 teams register.
The different teams will now take part in a training program bootcamp lasting until October 14 in which entrepreneurs will ‘fine-tune their business ideas focusing on sustainability and bridging Portuguese-speaking Countries with China both ways’.
‘In the first week, we will have speakers from the Entrepreneurial Ecosystem that will talk about business opportunities, industry sector outlook existing in the Portuguese-speaking Countries and the Great Bay Area of China,’ organisers pointed out.
‘In the second week, the Bootcamp will have a practical component where mentors will support teams to develop their ideas, making sure they make a good business fit between PSC (Portuguese Speaking Countries) and China (Both Ways)’.
According to the organisation, more teams from Portuguese-speaking Countries have joined the entrepreneurship competition this year, teams that will spend most of their training schedule working on how to promote their products and services in mainland China.
The competition Finals will be held on October 29 with a shortlist of the 16 best teams, namely eight best University teams and eight best startups.
The Selected Teams will pitch their business idea in front of a panel of distinguished judges. After the competition, winners will have access to specific business matching meetings with potential clients/investors.
The first three winning teams receive an in-kind service prize of MOP30,000 (US$3,710) from Alibaba cloud services and MOP70,000 in monetary prizes in total.
‘Given the diversity and number of participating teams, we are looking forward to seeing the business proposals that will be presented. Our mission is to establish an entrepreneurship-oriented community among all participants and raise awareness among the public and economic agents of the businesses opportunities arising from the Macau Platform between Portuguese-speaking countries, and China,’ the organisers added.
In 2021 ProbioVaccine, a tailor-made aquaculture probiotic vaccine project by a Porto university team won the edition’s inaugural edition, with second place going to University Lusófona Guiné Bissau for a solar panel project in eastern Guinea-Bissau, and third place for State University of Rio de Janeiro, Brazil and Guangdong Polytechnic Normal University.