UM successfully incubates over 50 start-ups
To facilitate the commercialisation of research results and promote Macao’s economic diversification, the University of Macau (UM) supports youth in innovation and entrepreneurship on various fronts. The university has successfully incubated more than 50 start-ups, helping them establish a foothold in Macao and mainland China. These start-ups cover a wide range of fields, such as culture and creativity, environmental protection, new materials, information technology, medicine, and biotechnology.
In 2017, UM established the Centre for Innovation and Entrepreneurship (CIE) to provide an environment for UM students, faculty and alumni to foster their innovative thinking and capabilities, and to help transform their creative ideas into viable businesses. After two years of development, the centre was approved as a national co-working space in 2019, becoming an important part of the university’s ‘5-in-1’ system for research innovation and result transfer.
Elaine Leung Lai Han, head of CIE, believes that innovation and entrepreneurship can not only bring new economic impetus and employment opportunities to Macao, but also promote the diversification of the city’s economy. At present, the centre has achieved remarkable results in facilitating the development of innovation and entrepreneurship in Macao, with its efforts mainly reflected in four areas: (1) Enhancing the atmosphere for the commercialisation of the outcomes of industry-academia collaboration—By organising the Ultimater innovation and entrepreneurship exhibition, CIE presents UM’s results in industry-academia collaboration to entrepreneurs, enterprises, investors, students, and public institutions, and helps entrepreneurial teams and research projects of the university to explore business opportunities and establish connections with investors. (2) Continuously seeking seed funding resources—CIE maintains close cooperation with the University of Macau Development Foundation, the Economic and Technological Development Bureau of the Macao SAR Government, and the Science and Technology Development Fund of Macao to provide referral and support services to its resident teams. (3) Nurturing technology and innovation talent—CIE organises a rich variety of activities to stimulate innovation and entrepreneurship, including seminars, field trips to start-ups, and training courses for start-ups. It also identifies outstanding technology and innovation projects and supports them to come to fruition. (4) Helping start-ups achieve steady growth—CIE encourages start-ups to participate in large-scale exhibitions in Macao, enhances the professional level of its incubation advice, and attracts more experienced individuals with investment and financing experience in technology and innovation to participate in project selection.
Since 2017, UM has incubated more than 50 start-ups through CIE. These start-ups include Macau Chiherbal Health Technology Company Limited, Smarmac Technology Company Limited, Chasing Health Technology Co Ltd, Printing Banana, and Macau Hap On Aromatherapy Application Research Institute Co Ltd. With the support of UM, these start-ups have not only achieved remarkable results in their respective fields, but have also obtained a number of patents, won many awards, and demonstrated outstanding sales performance in both Macao and mainland China markets.
Currently, CIE has established cooperation with enterprises such as Guangdong Dazhihui Holding Group Co Ltd, Zhuhai Da Heng Qin Company Limited, and ZSHK Laboratories Limited, as well as incubation platforms at renowned universities in the Guangdong-Hong Kong-Macao Greater Bay Area, to provide entrepreneurs with more opportunities for industry-academia collaboration, and to enhance their practical skills and innovative thinking. In addition, CIE will continue to provide a full range of support and services. The centre will also create more entrepreneurial opportunities for students and alumni by fostering industry-academia collaboration, so as to stimulate innovation and promote Macao’s economic transformation and achieve sustainable development.
