New Sino-Lusophone tech and innovation fund to be launched
A new venture capital fund aimed at supporting start-ups that connect China and Portuguese-speaking countries is set to be launched by state-owned Zhuhai Da Heng Qin Group, MNA has learned.
Preparations are underway for the Sino-Lusophone Technology and Innovation Fund, a move welcomed by Marco Rizzolio, co-founder of the 929 Challenge start-up competition. “When we talk about an entrepreneurial ecosystem, we need entrepreneurs with ideas, incubators to provide the space and conditions for these ideas to grow, universities, research and development institutions, companies, and, crucially, venture capital investment vehicles,” he emphasized.
Mr Rizollio told MNA that “having, for the first time, an investment fund dedicated to Sino-Lusophone start-ups is excellent news for nurturing and developing this ecosystem.”
This view is shared by Rui Ferreira, Managing Partner of Nascente Value Accelerator Partners and former CEO of Portugal Ventures, a Portuguese venture capital firm. He noted that the future fund would be essential for developing an ecosystem that connects Macau, Portugal, and other Lusophone countries. Mr Ferreira made this statement in a keynote speech on Saturday at the 929 Challenge Street competition finals.
Launched in 2021, the “929 Challenge” takes its name from the nine Guangdong cities in the Greater Bay Area (GBA), the two Chinese Special Administrative Regions (Macau and Hong Kong), and the nine Portuguese-speaking countries.
This year’s edition saw over 1,600 participants, with Portuguese start-up Iplexmed clinching the top prize, while a team from the Macau University of Science and Technology (MUST) secured the main award in the university category.
