Sands China Expands Its Initiatives To Drive Innovation and Technology Development in Macao
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NORTHAMPTON, MA / ACCESSWIRE / April 4, 2024 / At the end of last year, Sands China announced the inaugural winners of the Sands Innovation Challenge, a smart-tourism competition to drive innovation and technology development in Macao. It was the latest offering in the company's extensive roster of initiatives targeting small and medium enterprises (SMEs), a core commitment Sands China has made to the health and prosperity of Macao and the Greater Bay Area region.
A collaboration between Sands China and BEYOND Expo, the challenge was held in conjunction with the new Sands Resorts Incubation Centre, a program that 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 can be applied.
Through the center, participating technology businesses develop and refine products and services at Sands China's properties, which provide a real-world environment to turn ground-breaking ideas into viable solutions that can lead to actual business opportunities. The initiative is part of Sands China's support for the Macao SAR government's efforts to develop smart tourism and high-tech industries.
As one of the center's first major initiatives, the Sands Innovation Challenge encouraged development of technology solutions to improve the visitor experience in Macao as well as stimulate improved performance in sustainability and environmental impact. The challenge's three winners - Hai Robotics; Jiangsu OWIN Biotechnology Co., LTD; and Laiye HK Limited - created projects in the areas of intelligent warehouse robotic solutions, food waste resource recycling solutions and AI consumption identification technology, respectively.
The Sands Resorts Incubation Centre and the Sands Innovation Challenge are the latest offerings in Sands China's multi-faceted approach to delivering tangible support for SME advancement. The company focuses SME programs in two areas: building their capacity for success and helping them generate business opportunities.
The Sands Resorts Incubation Centre provides support to technology entrepreneurs in both areas by offering seminars and workshops, as well as business competitions and technology development opportunities at the company's resorts.
Building Capacity
In conjunction with the launch of the Sands Resorts Incubation Centre, Sands China announced a partnership with Parafuturo de Macau Investment and Development Limited (PFM) to offer workshops, classroom trainings and competition events aimed at enhancing the development of Macao's young entrepreneurs and support the growth of local small, medium and micro suppliers.
As part of the engagement, Sands China sponsored PFM's 2023 Macau Youth Innovation and Entrepreneurship Competition, which cultivated entrepreneurial projects related to Macao's development as a smart city and its advancement in MICE tourism and leisure technology.
This new initiative expands Sands China's already substantial series of programs established to offer valuable training support to SMEs. A key program is the Sands Procurement Academy, which welcomed its 13th and 14th cohort in 2023 and focuses on preparing SMEs to work with large-scale international corporations like Sands China.
The company recognized the program's most recent graduates in a ceremony at The Londoner Macao on January 19, and the event featured the annual Sands China Supplier Excellence Awards, as well as a business networking session to facilitate SME connections with the company's departments and procurement representatives from corporate, Sands China and Marina Bay Sands.
Other key training programs include the Sands Retail Academy, a specialized training program for allied workers at Sands Shoppes Macao's more than 700 retailers and the F.I.T. program, which provides financial assistance, invitational matching to help SMEs access new procurement opportunities, and training and development to build business capabilities.
Cultivating Business Opportunities
In the area of sales development, Sands China's signature program for SMEs and Made-in-Macao businesses is the annual Sands Shopping Carnival, which has become Macao's largest platform for retailers and SMEs to showcase their goods and services. The four-day mass marketplace has welcomed more than 420,000 visitors since its inception in 2020.
In addition, the company introduced the Sands China Local Supplier Open Day in conjunction with the Macao Chamber of Commerce last year. Held at The Venetian Macao, the event welcomed local SMEs to explore procurement opportunities at Sands China resorts as well as sister property Marina Bay Sands in Singapore.
To further support local SMEs in gaining international business, Sands China hosted a Macao business delegation in Singapore to facilitate introductions to sales and trade partners, regional and international media, and local residents and travelers. As a result of the three-day Macao Showcase, several SMEs are pursuing international business opportunities and engagements with Marina Bay Sands.
"Sands China remains committed to supporting and advancing the development of local SMEs in Macao," said Dr. Wilfred Wong, executive vice chairman of Sands China. "Through initiatives like our partnership with PFM, we are offering workshops, classroom trainings and competition events aimed at enhancing the development of Macao's young entrepreneurs and supporting the growth of local small, medium and micro suppliers - as we 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."
To learn more about Sands' support for small and medium enterprises in its regions around the world, read the company's latest ESG report: https://www.sands.com/resources/reports/.
View additional multimedia and more ESG storytelling from Las Vegas Sands on 3blmedia.com.
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SOURCE: Las Vegas Sands
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