Startup Macau to place entrepreneurs in markets abroad

The Startup Macau Forum kicked off yesterday with 19 young entrepreneurs who presented their entrepreneurial innovation in hopes of a business expansion in overseas markets.
Connecting entrepreneurs from China, Portugal and Macau through a two-day event, the forum aimed to promote the development of new startups and entrepreneurship for the three participating regions.
The program kicked off with a discussion about lean startups, a method for developing businesses and products. The facilitators also explained the several components of the business model, held case studies and prepared them for the pitching session for today.
CESL Asia CEO António Trindade, an organizer of the event, sat with the Times to discuss importance of the forum to the entrepreneurs, particularly the local businessmen.
According to him, the forum is a platform for the young entrepreneurs to be exposed in business markets outside the region, stressing that it maximizes the “potential that is already there.”
“They already have their own ideas. Some are starting, some are already with investments. But [this forum will] enable them to communicate their [business] pitch,” he explained.
Trindade highlighted that the two-day event will boost the ability of startups from the SAR and China to bring their businesses to Portuguese speaking countries and vice-versa.
When asked about the existence of several potential entrepreneurs in the region, Trindade asserted that the young enterprisers could be the ‘answer’ to the region’s sustainability hitch.
“Macau is a very successful economy in many ways [but] we have a problem here. It’s sustainability. We are already rich but we want to do something else. Who can you solve that? Entrepreneurship,” said CESL Asia CEO.
According to him, there are several local entrepreneurs who also seek for such forums in neighboring regions and abroad, mentioning that local SMEs are also in need of such forums.
Trindade added that StartUP Macau, which allows the young enterprisers to materialize their business ideas, is an effort by the three participating regions that would help diversify the city’s economy.
Meanwhile, one of the facilitators of the event and the founder and CEO of Fábrica de Startups, António de Faria, described the participants as “very enthusiastic,” mentioning that the groups possess remarkable ideas.
Faria said he is optimistic in tomorrow’s pitching presentation, adding that the company intends to help startups from Asia to move into the Lusophone countries.
“It’s the beginning of something,” he assured to the Times.
Participants also expressed the belief that the forum will enable their businesses to expand in the international market.
One local entrepreneur who has been creating a brand in the region said, “The forum may give us a kick [to expand] as they have some investors from overseas.”
Another added that they have learned to scale businesses out of nothing, raise funds and build prototypes in just a day.
Today, the forum will be about demonstrating the results of training. Each participating startup team will hold a five-minute presentation among expert juries, including investors from China, Portugal and Macau.
Team with the highest score from each region will be the three winning teams. The jury consists of 11 judges. LV