The organiser invites internationally renowned start-ups to share insights with local companies in Macao
f.ounders, an international seminar focused on start-ups and information technology, was for the first time held in Macao, attracting about 180 leading figures from IT companies from Asia, Europe and Americas. The organiser spoke highly of the exhibition venues and supporting facilities in Macao which can be adopted for different types of events. The seminar also set up a special session, wherein internationally-renowned start-ups were invited to share insights with Macao enterprises. As per the invitation of the event organiser, the Macao Trade and Investment Promotion Institute (IPIM) arranged for local enterprises to participate in the event. Local companies participating in the conference all recognised the significance of the event, and took the opportunity to draw wisdom from the valuable and inspiring business experience shared by companies from all over the world.
Paddy Cosgrave, the founder of f.ounders, said that the event was set up to bring together start-ups and IT entrepreneurs from around the world to learn from each other, share valuable experiences, broaden the network and build up friendship, to be prepared for the coming challenges and opportunities. The event was held in Macao from July 12 to 14. It attracted about 180 IT companies from different regions in Asia, Europe and Americas, many of which are internationally-renowned technology companies. Through symposiums, participants of the seminar told stories of starting up their businesses and jointly explored the future development trend of the industry.
Mr. Cosgrave said that Macao is an ideal place for conferences as it integrates many large-scale hotels, restaurants and convention venues suitable for all types of events. He said that the only challenge in the preparations for the event was to choose from the numerous excellent hotels, venues and restaurants. Mr. Cosgrave also encouraged enterprises in Macao to build a good team before incorporation as a good team will be the key to success. Ideation is simpler and less time-consuming, as comparatively the implementation, which entails a good team, has a more important role, he added.
In addition, in response to the development needs of the venue, and to be in line with Macao's efforts to build a smart city in recent years, this year's f.ounders seminar designed interactive sessions on Macao’s business environment specifically for Macao enterprises. As a co-operating organisation of the conference, the IPIM organised local start-ups and IT companies to take part in the event and enhance the communication and co-operation with local companies and globally-renowned enterprises.
Mr. Lam, the head of the Macau Youth Entrepreneurship Incubation Center and a participant of the seminar, said that this event helped local companies understand the trend of innovation at home and abroad, establish the international network and resources, and facilitate the connection of resources and services in different places. He believes that Macao has a relatively late start in terms of start-up and information technology. However, driven by the tourism industry, the city has attracted the attention from many investors. In recent years, many young people have launched into the information technology industry. With the further advancement of the Guangdong-Hong Kong-Macau Greater Bay Area, innovation and entrepreneurship will be the future development trend.
Mr. Lee, who is in charge of an online catering platform, said that in recent years, the government has co-operated with enterprises to provide support for local young entrepreneurs. However, subject to the size of the Macao market, more capital and experience are required for the initial development of e-commerce platforms. He hopes that the government and the industry will give more guidance to entrepreneurs in Macao in the future, so that they can have more solutions or access to information about technology, management, human resources and financing issues. He also hoped that the formalities of credit guarantee will be simplified to enable easier obtainment to business start-up capital.
Ms. Ng, the head of the Macau Cultural & Creative Integrated Services Centre, said that keynote speakers of f.ounders have developed plans based on their own cultures and consumption habits, which is a valuable refernece for local companies in Macao. She believes that there will be many more opportunities for co-operation in the future. Ms. Ng thinks that all Macao enterprises face comparatively more difficulties in operating costs and human resources in the initial stages. However, the Government of Macao SAR has introduced relevant services and supporting measures to help with the development of companies.
According to Mr. Lui, head of a creative shared working space start-up, Macao has a comparatively small market where competition is not fierce. But enterprises have to survive by expanding business in the Mainland and international market instead of solely relying on local market. He believes that participating in f.ounders has enabledlocal companies toabsorb the different business experiences of companies from around the worldandbroadenedtheir horizon, which is very important for local enterprises. He also mentioned that the Government of Macao SAR has frequently organised external visits for companies to help them gainbusiness experience and promote the development of the industry.
