Sands China Announces Winners of 'Entrepreneurship Recruitment Programme for Rua das Estalagens'

Part of company's ongoing Community Revitalisation Series

MACAO, July 25, 2024 /PRNewswire/ -- Sands China Ltd. disclosed the results of its Entrepreneurship Recruitment Programme for Rua das Estalagens, part of the company's ongoing Community Revitalisation Series, at a results announcement ceremony at The Londoner^® Macao Thursday.

The programme's goal is to fund innovative entrepreneurial proposals from Macao residents interested in starting businesses on Rua das Estalagens - thereby reviving the economy in the neighbourhood and assisting in revitalising the historic street and unleashing its past vibrancy.

The project received 128 applications, with 120 meeting the eligibility requirements, covering categories such as dining, takeout, retail, cultural and creative industries, and performance. The programme involves communication with people from all walks of life, including the government, business community, and NGOs, resulting in cross-sector and cross-departmental cooperation.

Three rounds of rigorous evaluations were conducted by a group of judges over four days. The selection process considered factors such as innovation, feasibility, uniqueness, attractiveness, and sustainable business models. Seven business plans were then selected to receive subsidies from Sands China, in support of the Macao SAR government's revitalisation strategy. Disbursed in four stages, the awarded subsidies are up to twice the enterprises' initial capital investment, capped at MOP 1 million, in order to encourage their sustainable development.

Dr. Wilfred Wong, executive vice chairman of Sands China Ltd., said: "We received an overwhelming response and support from all walks of life after the announcement of the project. Judges from various professions carefully selected seven exceptional projects to establish their businesses at Rua das Estalagens. We hope that this group of aspiring and creative local residents will use the energy and enthusiasm of youth to bring a new atmosphere to the neighbourhood. This project belongs to the people of Macao, and it brings together the power of government, business, and the community, and holds hope for the future. Every step that we take shoulders the important mission of revitalising the old district. With common beliefs and goals, combined with practical actions, we are working together to reactivate the vitality of Rua das Estalagens and mobilise the economic energy in the neighbourhood in pursuit of sustainable development."

Programme applicants needed to have a minimum of MOP 300,000 in capital to embark on the entrepreneurial journey based on their own ability and ideas, and establish their businesses on Rua das Estalagens.

After Sands China announced the programme at an April 8 press conference, the company held seven related activities, including seminars, an open day, and entrepreneurship training courses on marketing writing and pitching. The activities attracted more than 600 participants over the 72-day period leading up to the final review date. After the selected projects successfully settle in the neighbourhood, Sands China plans to launch the second phase of the project based on the actual situation of the neighbourhood and store operations.

Cheang Kai Meng, acting president of the Cultural Affairs Bureau of the Macao SAR (IC), said: "With the launch of the Entrepreneurship Recruitment Programme for Rua das Estalagens, Sands China has made great efforts in showcasing the uniqueness of the historic street while attracting Macao residents to start their businesses in a bid to rejuvenate the neighbourhood. The programme is a testament to the company's unwavering commitment to revitalising Macao's old district and boosting the city's economic diversification - in line with the Macao SAR government development strategy. The programme also truly reflects Sands China's dedication in addressing the actual situation of the street by fostering cooperation between all sectors of society, in which we can also see the boundless potential of Macao itself and its own industries. The Cultural Affairs Bureau will continue our effort in enhancing the environmental conditions by optimising the supporting facilities in the districts that need to be revitalised - with an aim of creating a diversified and sustainable future."

Fred Ma Chi Ngai, president of the Board of Directors of the Macao Chamber of Commerce, said: "The Entrepreneurship Recruitment Programme for Rua das Estalagens aims to encourage small and medium enterprises (SMEs) in Macao to establish themselves in Rua das Estalagens. In addition to providing a platform for innovative entrepreneurs, the initiative helps revitalise Macao's historic district. The programme not only enhances the entrepreneurial skills of participants but also boosts their visibility. Throughout this process, Sands China actively collaborates with governmental bodies, businesses, and other stakeholders to pool resources while rendering comprehensive, professional support to the entrepreneurial teams that opt to settle here. The company is committed to combining investments with community revitalisation efforts, effectively contributing to community revitalisation, economic growth, and support for SMEs."

The awardees of the Entrepreneurship Recruitment Programme for Rua das Estalagens are: