On April 14, the 3rd Hengqin International Scientific and Technological Innovation and Entrepreneurship Competition kicked off in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin. With a total prize pool of 300 million RMB, the competition welcomes outstanding innovation enterprises across the globe.

(Photo provided to GDToday)

The competition also sets a new award, the "New Green Lotus Award", to attract entrants from Macao and Portuguese-speaking countries (PSCs). Its prize amounts to 8 million RMB, which will be shared by ten winning teams, with at least two teams from PSCs.

(Photo provided to GDToday)

The competition marks the first sci-tech competition jointly held by Hengqin and Macao jointly after the operation of the Cooperation Zone. Hosted by the Executive Committee of the Cooperation Zone, it is organised by the Economic Development Bureau of the Cooperation Zone, with support from the Economic and Technological Development Bureau of the Macao SAR and the Science and Technology Development Fund of the Macao SAR.

This year's competition further focuses on the major industries of the Cooperation Zone, including integrated circuits and electronic components, biomedicine and medical devices, big data and artificial intelligence, and new materials and new energy.

In addition, it will prioritise those technology innovation projects that have made innovative achievements, and achieved key technological breakthroughs with high potential for industrialisation.

According to Fu Yongge, Deputy Director of the Executive Committee of the Cooperation Zone, the competition is an important platform for investment attraction and talent introduction in the Cooperation Zone, and it is also an important initiative for the Cooperation Zone to serve Macao's adequate economic diversification.

The competition has a total of 31 awards, with 11 for the start-up group, 10 for the growth group and 10 for the "New Green Lotus Award". And the top winner in the growth group will be awarded up to 100 million RMB as non-repayable funding to subsidise its R&D expenses and investment facilities.

In December 2022, the Economic Development Bureau of the Cooperation Zone, the Economic and Technological Development Bureau of the Macao SAR and the Zhuhai Science and Technology Innovation Bureau jointly signed a strategic cooperation agreement on the establishment of a sci-tech exchange and cooperation centre for China and PSCs to speed up the establishment of the centre.

This competition is believed to enhance the cooperation between Macao, Hengqin, Zhuhai and PSCs in terms of innovation, entrepreneurship and technological development.