Sands China Launches Sands Resorts Incubation Centre and Signs MOU with PFM

Promotes young entrepreneurship, technical innovation and smart tourism

(Macao, May. 12, 2023) – Sands China Ltd. launched a new programme on Friday, the Sands Resorts Incubation Centre, which is aimed at encouraging technological innovation, discovering local innovative enterprises with development potential, and introducing innovative solutions for smart integrated resorts – through a series of targeted seminars and competitions.

Additionally, Sands China Ltd. signed a memorandum of understanding (MOU) with Parafuturo de Macau Investment and Development Limited (PFM). The goal of the MOU is for Sands China to work together with PFM's Macao Young Entrepreneur Incubation Centre to identify potential enterprises through periodic workshops, classroom trainings, and competition events. By sharing industry expertise and business knowledge, the two entities aim to enhance the development of Macao's young entrepreneurs and support the growth of local small, medium, and micro suppliers.

The programme launch and MOU signing both took place at The Venetian^® Macao's Cotai Expo during a press conference at the BEYOND Expo event on Friday.

"Smart tourism is a pivotal direction and trend in today's tourism industry," said Dr. Wilfred Wong, president of Sands China Ltd. "In keeping with the Macao SAR government's initiative to spearhead technology-driven smart tourism and to foster the growth of high and new technology, Sands China is proud to launch the Sands Resorts Incubation Centre to promote the transformation of scientific research accomplishments in Macao. We are also delighted to collaborate with PFM in accelerating the growth of innovative enterprises, while simultaneously creating more opportunities for the younger generation."

The Sands Resorts Incubation Centre draws on Sands China's extensive industry expertise and business acumen to offer participating companies access to valuable knowledge resources and an integrated resort setting where digital solutions could be applied. It aims to not only facilitate the optimisation and refinement of existing products and services, but to also facilitate the development of new and innovative solutions targeted at the integrated resort industry. The Incubation Centre seeks to help entrepreneurs transform their conceptual ideas into commercially viable offerings that are poised for success in the marketplace.

Friday's MOU was signed by Charlie Cai, vice president of procurement and supply chain for Sands China Ltd. and Lam Ka Wai, executive director of PFM and chief executive officer of the Macao Young Entrepreneur Incubation Centre. It was witnessed by Tai Kin Ip, director of the Economic and Technological Development Bureau; Dr. Wilfred Wong, president of Sands China Ltd.; and José Chui Sai Peng, chief executive officer of PFM and chairman of the Macao Young Entrepreneur Incubation Centre.

Lam said: "We firmly believe that this collaboration will bring more opportunities and advantages for our young entrepreneurs, as well as more resources and support for our incubation centre. Driven by our shared goal of nurturing the growth of youth entrepreneurship, PFM and Sands China are bound to build a long-lasting, sustainable, and mutually beneficial partnership that will effectively accelerate the growth of youth entrepreneurship, cultivate competitive and innovative forces, and accelerate the pace of Macao's moderate economic diversification."

Both parties of the MOU intend to encourage the use of innovative technologies and advocate for Macao youth to integrate into the Greater Bay Area market and the overall development of the country. They plan to explore future collaborations, including structuring training programmes focused on entrepreneurship for Macao's young entrepreneurs and local SMEs, co-organising field trips or delegation tours, and facilitating business matching or testing opportunities for high-potential products or services.

They are also collaborating on the 2023 Macau Youth Innovation and Entrepreneurship Competition, which Sands China is sponsoring, including sponsoring the establishment of a prestigious Sands Best Application Value Award. The award aims to support young people to utilise their creativity, while encouraging the cultivation of more entrepreneurial projects related to Macao's development as a smart city and the city's advancement in MICE tourism and leisure technology. For local projects in the competition, Sands China is prioritising providing coaching and training, business matching, exhibition and visiting opportunities, and the chance to become a Sands China supplier.

After the launch of the Sands Resorts Incubation Centre and the signing of the MOU, Friday's press conference concluded with the introduction of the Sands Innovation Challenge, a smart-tourism competition that aims to achieve the goal of the Sands Resorts Incubation Centre of driving innovation and development within the local technology sector. A collaborative project by Sands China and the BEYOND Expo, the challenge seeks high-quality technological solutions for digital applications and the digital transformation of enterprises. The aim is to provide better experiences for visitors to Macao in terms of functionality and sustainability, while rewarding commercially valuable products and solutions targeted at the integrated resort industry.

Shortlisted teams will present their ideas and solutions to a judging panel of representatives from Sands China and BEYOND Expo, who will provide feedback and guidance on their innovation, operability, and commercial viability. The three top teams will win an integrated resort experience worth up to a combined MOP 240,000.

Initiatives like the Sands Resorts Incubation Centre and the MOU with PFM are part of Sands China's support of the Macao SAR government's promotion of the long-term and sustainable development of smart tourism and high-tech industries. Through these initiatives, Sands China hopes to further integrate tourism and modern technology by supporting the research and development of new local high-tech products, in contribution to Macao's development as a world centre of tourism and leisure.

Photo caption: Sands China Ltd. launches the Sands Resorts Incubation Centre at The Venetian Macao Friday, which is aimed at encouraging technological innovation, discovering local innovative enterprises with development potential, and introducing innovative solutions for smart integrated resorts – through a series of targeted seminars and competitions.

Left to right: Dave Sun, senior vice president and chief financial officer of Sands China Ltd. and managing director of Venetian Macau Limited; Alberto Lei, deputy chief of the Liaison Department of the Macao Chamber of Commerce; Chang Chak Io, deputy director-general of the Macau Productivity and Technology Transfer Center; U U Sang, president of the Macao Trade and Investment Promotion Institute; Tai Kin Ip, director of the Economic and Technological Development Bureau of MSAR; Dr. Wilfred Wong, president of Sands China Ltd.; Yang Hao, deputy director-general of the Economic Affairs Department of the Liaison Office of the Central People's Government in the Macao Special Administrative Region; Kuong Chio Ka, head of the Facility and Information Department of the Gaming Inspection and Coordination Bureau of MSAR; Chui Yuk Lum, president of the Industrial Association of Macau; Lu Gang, co-founder of the BEYOND Expo.

Photo caption: Sands China signs an MOU with Parafuturo de Macau Investment and Development Limited (PFM) at The Venetian Macao Friday. The goal of the MOU is for Sands China to work together with PFM's Macao Young Entrepreneur Incubation Centre to identify potential enterprises through periodic workshops, classroom trainings, and competition events.

Photo caption: Dr. Wilfred Wong, president of Sands China Ltd., speaks Friday at The Venetian Macao for Sands China's launch of the Sands Resorts Incubation Centre and signing of an MOU with PFM.