Cash prizes of MOP 5,000 are up for grabs in the second edition of the Idea-cation@IFTM 2022 business strategy innovation competition, which is calling for “community input on innovative recovery strategies amidst adversity” that can help local retail brands transform or seize new opportunities.
The Macao Institute for Tourism Studies (IFTM) said that the competition aims to attract talents to create an innovation and creativity platform, so as to help the tourism industry “seek new business opportunities and find innovative and viable solutions”.
The event, which will be held online and offline, will enable participants to meet entrepreneurs, free their imagination and pitch their ideas to an audience. Industry and academic experts will be invited to be team consultants or judges.
From 11-13 November, finalist teams will participate in the three-day programme supported by eight local brands involved in different categories of fashion jewellery, skincare and aromatherapy, fashion apparel, as well as cultural and creative products.
IFTM and the supporting brands’ representatives will form an evaluation panel to choose winners by assessing the teams’ plans, pitching performance and proposals.
Up to four outstanding teams can win MOP 5,000 and sign a memorandum of understanding with the supporting brands to realise their business plans.
The application deadline for the competition is 30 September, The Macau Post Daily reported.
