[2016/02/22] IPIM creates platform to assist companies in “going global” Helping to find “Angels” to fufill the entrepreneurial dream
To strengthen and implement the measures announced in the Policy Address of Macao SAR Government, with regard to providing support for the development of the local enterprises, in particular, the “door-to-door delivery” service, and the “Expansion Abroad” and “Attraction of Foreign investment” policies, Macao Trade and Investment Promotion Institute (IPIM) strives to develop multiple channels and create innovative platforms, including, inter alia, workshops on seven Portuguese-speaking Countries, the “Forging a closer Relationship with SME” service, as well as workshops and promotional seminars on e-commerce, to help local Micro, Small and Medium-sized Enterprises to expand their business network. In recent years, in view of the flourishing development of “Angel Fund” (which provides funds for emerging enterprises to assist them to create and generate business) not only in Mainland China but also in the neighbouring regions, IPIM is actively building a “bridge” to enable enterprises to meet the “Angels”.
Some Macao enterprises have successfully won the “good graces” of the “Angels”
Through the “one-stop” service provided by IPIM and with the assistance of the business matching and other services offered by the said agency, coupled with the efforts of the company team members, YGA (Macau) International Information Technology CO., LTD has successfully completed its incubation period and started business, being the first company to settle in the “Inno Valley for Macao Young Business Starters in Hengqin”, upon the incorporation of Bringbuys. Furthermore, the said group of companies has successfully obtained a financing of approximately HKD30 Million from “Angel Fund”.
Accumulation of business experience plus team composition are crucial to “attract funds”
The Director of YGA (Macau) International Information Technology CO., LTD and cumulatively Director and Chief Executive Officer of Bringbuys, Mr. Vincent Chou, speaking in his capacity as an experienced businessman, said that, in recent years, the Macao SAR Government has actively promoted young entrepreneurship as a mean to foster economic diversification. Such measures, coupled with Macao´s role as a services platform for trade and economic co-operation between China and Portuguese-speaking Countries as well as Macao´s unique and advantageous geographic location to coordinate with the “One Belt, One Road” national strategy, business opportunities arise everywhere, meaning that “Angels are also present everywhere” in this city. Therefore, he encourages everyone to pursue the “Entrepreneurial Dream” and while waiting for the arrival of the “Angels”, enterprises, especially youth entrepreneurs, should accumulate certain social experience and also experience in the lines of business that they pretend to pursue. Besides, the formation of a team that share the same ideas should also be taken into account. In addition, entrepreneurs should have an open mind, especially in making efforts to match their dreams with the trends of social development and government policies, so as to achieve a multiplier effect.
Make good use of the “Angels´s trust”
However, he also pointed out that because every dollar and cent invested by the “Angel” represents a trust, enterprises and youth that have successfully obtained the “Angel”´s good graces must have a business plan and regard that “trust” with reverence.
Participating enterprises aspire to the establishment of “Macao Angel Funds”
On the other hand, last year, IPIM organized for the first time an experience sharing and promotion seminar jointly with business associations, and invited investors, investment platform founders and investment advisers to share their experience, in a bid to assist the SMEs and potential youth entrepreneurs to learn and locate investors for their commercial projects as well as to prepare business plans capable of attracting investors. During the same event, the 11 participating enterprises had the opportunity to meet, on an “one to one” basis, representatives of the “Angel Fund”, to promote their projects and make enquiries. Some of the participants Ms. Tammy Meng , the Vice President of Oxbridge International Education (Macau), and Mr. Franky Ip, the Senior Manager of Central Technology Limited hopes that activities of “Macao Angel Fund” could be held in the future, in order to attract Macao investors to support local projects, while another participant, the person-in-charge of Alpha Solution Company Limited, Mr. Ming Ieong said that he benefited from the event, as it provided him an opportunity to learn about the development of e-commerce in Mainland China, and also inspired him in the way of doing business.
IPIM continues to expand its services to the Micro, Medium and Small-sized Enterprises
In the future, IPIM is committed to continue its services to the local Micro, Medium and Small-sized Enterprises. In addition to business advising, the said agency will also gather information regarding the new business models of local enterprises, as well as enterprises in the neighbouring countries and regions, and regularly organize all kinds of workshops and training seminars, so as to enhance the participants´ business thinking and competitiveness, which is vital for the diversification of Macao´s economy.
Vincent Chou considers that accumulation of business experience and team composition are crucial factors in attracting the “Angels”
Last year, IPIM organized an event to provide opportunity for the enterprises to meet the “Angels”