The Third Hengqin International Scientific and Technological Innovation and Entrepreneurship Competition has been launched, with a total prize pool of RMB 300 million. The competition aims to distinguish innovative enterprises across the globe and includes a new award this year, the “New Green Lotus Award,” which is introduced specifically for entrants from Macau and Portuguese-speaking countries.
It is the first S&T competition taking place after the official establishment of the Guangdong-Macau In-depth Cooperation Zone in Hengqin. The event is held by the Economic Development Bureau of the Cooperation Zone, with support from the Economic and Technological Development Bureau of the Macau SAR and the Science and Technology Development Fund of the Macau SAR.
Fu Yongge, Deputy Director of the Executive Committee of the Cooperation Zone, stressed on Friday that the competition not only serves as a key platform to attract investment and talent to Hengqin but also assists “Macau’s adequate economic diversification.”
According to the organizer, the 2023 event “has a more pronounced theme and focuses more on the integration between Hengqin and Macau, with a stronger emphasis on its international influence, high-end level, and feasibility.” It will have a special focus on four major fields: integrated circuits and electronic components, biomedicine and medical devices, big data and artificial intelligence, and new materials and new energy.
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.” The grant provided will be capped at RMB 300 million in aggregate, and the top winner in the growth group will be awarded up to RMB 100 million as non-repayable funding to subsidize the R&D expenses and investment facilities and to encourage the enterprise to make full use of the funding on R&D of products, talent introduction, and marketing.