​SECTION 1 Objective and Definition

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Pier 25 is a dynamic International Ideation & Acceleration Program program led by Melco Resorts & Entertainment (MELCO), and powered by Fábrica de Startups, aimed at fostering innovation in the tourism sector, focusing on  tourism, mobility, sustainability, and social impact. The program will run from July 10th to September 13th.

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The main purpose is to promote entrepreneurship in Macau by supporting the development of new startups related to tourism, mobility, sustainability, and social impact and capable of implementation in Macau at piers 23 and 25 of the Inner Harbor.

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It consists of a series of bootcamps designed to support the development of startups focusing on tourism-related solutions. Pier 25 will follow the FastStart Methodology, from Fábrica de Startups, an 8-step path based on the principles of Lean Startup and Customer Development, that consist of working sessions where participants are expected to develop and validate their business idea.

Pier25 will be open for up to 10 (ten) teams with projects in prototype or launch stage. 

 

SECTION 2 Eligibility of Applications

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Participation in Pier 25 requires the submission of a team application along with a business idea. While we primarily seek ideas in Sustainable Tourism, Innovative Mobility Solutions, Community Empowerment and Sustainability, and related fields, innovative ideas applicable to tourism with a focus on new technologies are highly encouraged, namely Augmented Reality (AR) and Virtual Reality (VR), Internet of Things (IoT), Artificial Intelligence (AI), Big Data Analytics or Blockchain Technology.

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The business project must meet a market need in an innovative way and must demonstrate global potential to expand to Macau and Great Bay Area.

The accelerator program will end with a pitch competition where startups will have a chance to pitch their business to a jury panel.

 

 

2.1 Program Calendar

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• Applications Open: April 10, 2024

• Applications Closed: June 14, 2024

• Bootcamps: July 10 to August 1 2024

• Pitch Day: September 12, 2024

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This schedule may be subject to alterations at the Pier 25 Team discretion. 

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2.2. Application and Selection Process

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a) Applications

• Participation is open to individuals over the age of 18 from any country.

• Teams must consist of at least two members, with one member being a founder.

• The teams must demonstrate their effort in a whole, as well as their experience, technical and management skills necessary to develop their business in Macau.

• Applications will be considered by Fábrica de Startups only after submission of the application form.

• Applications meeting the minimum criteria outlined in these terms and conditions will be reviewed by Pier 25 Team for potential participation in the Program. Pier 25 Team will contact you if more information or clarifications are needed about application materials at any stage during the selection process. Based on application materials, startups will be selected by Pier 25 Team for participation in the Program

 

b) Selection Criteria and Evaluation

The evaluation of applications includes the following criteria: 

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• Team - Credible team, quality CVs, relevant qualifications/experience;

• Produt – Clearly innovative or disruptive, differentiated from existing solutions, scalable, exhibits sustainable competitive advantage potential;

• Market – Large addressable market to facilitate significant sales growth;

• Business Model – viable business model based on credit commercial and economic assumptions;

• Program Fit – Fit with the program and the Pier 25 Team challenges;

 

• Applications will be evaluated based on the quality of the idea, the team’s commitment to the project, evidence of the team’s capacity of execution and prototyping, and its profile in terms of complementary skills and entrepreneurial attitude.

• Fábrica de Startups will select the participating teams by taking into account all the information made available through the application form and additional information that may be requested from the teams.

• Selected teams will be notified via email and announced on the Pier 25 website.

• The evaluation and selection process will happen as applications are submitted. After analysis of a team’s application, the best applicants will be selected for an online interview 

• You will be notified by e-mail of any decision made with respect to your application promptly. There is no obligation for Pier 25 Team to provide reasons for acceptance or rejection of applications.

 

c) Participation Terms

The program will have 4 online bootcamps and an in-person pitch day on September 13th. During this program the teams will define, validate, and adapt their business idea.

 

• Participation

  • Teams will be notified by email of our selection and approval of team application.

  • Selected teams must confirm their participation within the specified timeframe.

  • Participation in all bootcamps and the final pitch day is mandatory.

  • Teams are expected to actively engage in the program and complete assigned tasks.

• Acceleration

  • Bootcamps will consist of workshops, lessons learned presentations, mentorship sessions, and guest speaker sessions.

  • Bootcamps follow Fábrica de Startups’ methodology: FastStart.

  • Lessons Learned are presentations made by the teams on their business model validation and adaptation report of the work that has been carried out during the previous bootcamp.

  • Mentorship are sessions, where teams are accompanied by experienced mentors that will meet with the teams during the program.

  • Teams must dedicate sufficient time to work on their projects outside of bootcamp hours.

• Pitch Day

  • Fábrica de Startups will select 10 startups to participate in the bootcamps. From these, 5 will be chosen to come to Macau for the Pitch Day (full expenses paid)

  • During Pitch Day at Pier 25, selected startups will have the opportunity to present their business ideas to a panel of judges and potential investors in a live event held in Macau. 

  • This event is the culmination of the accelerator program and serves as a platform for startups to showcase their innovative solutions to industry experts.

  • In addition to the invaluable exposure gained from pitching to major stakeholders, Pier 25 offers financial support to assist with the travel and accommodation expenses for participating startups.

  • Furthermore, Pier 25 acknowledges the outstanding performance of startups by awarding cash prizes to the top five performers. The cash prizes for the best-performing startups are as follows:

  • 1st Prize: MOP 125,000

  • 2nd Prize: MOP 75,000

  • 3rd Prize: MOP 50,000

  • 4th Prize: MOP 25,000

  • 5th Prize: MOP 25,000

  • These cash prizes not only recognize the achievements of the startups but also provide financial incentives to fuel their growth and development.

  • The cash prizes will be paid by MELCO directly to startups bank account. All startups selected to go to Macau to pitch must give to MELCO their bank info prior to the pitch in the format that MELCO’s will indicate.

 

d) Conflict of Interest

You must identify and notify Fabrica de Statups Team of any actual, potential or perceived conflict of interest that you have in relation to this application or your participation in the Program Pier 25. If you fail to notify, or you are unable or unwilling to resolve the conflict as required by Pier 25, your application may be excluded from further consideration.
An existing commercial or legal relationship with a Pier 25 Team is not a conflict of interest but you should include details of the relationship in your application.

 

e) Confidentiality

You agree to provide Pier 25 Team information about your assets, business or other affairs for the purpose of:

• applying to participate in the Program;

• allowing Pier 25 Team to consider your application;

• allowing one or more Program Members to identify and start separate discussions about potential commercial or legal relationships between you and the Program Member (Agreed Purpose)

 

The Pier 25 Team agrees to keep all the information you provide us for the Agreed Purpose (Confidential Information). Confidential information will not be disclosed to anyone without your consent or as otherwise expressly permitted in these Terms and Conditions. The Program Members agree to use the confidential information only for the Agreed Purpose.

Pier 25 Team may disclose the Confidential Information to their respective directors, employees, and advisors for the Agreed Purpose, provided that such persons have first been made aware of the confidential nature of the Confidential Information and have agreed to comply with this confidentiality undertaking.
The obligations of confidentiality will continue for a period of 3 years from the closing time for applications.

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f) Intellectual Property Rights

You acknowledge that the management and protection of your intellectual property is your sole responsibility, both during the application phase and if selected as a participant, during your participation in the Program

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SECTION 3: CONDITIONS OF PARTICIPATION IN THE PROGRAM

 

Participants will be able to partake in the Program will interact with the program partners to develop collaboration opportunities.

During the program or in the end, you may receive the opportunity to engage with the partners of the Program and/or receive strategic investment by one or more of the Program Members, however, this opportunity is not guaranteed. Any commercial relationships or opportunities you are offered are subject to separate negotiations and agreements with the relevant Program Member and do not form part of the Program.

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3.1 Participation in the program

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If you are selected to participate in the Program your startup must:

• give consent for your company name to be associated with this Program and used by Program Members to promote the Program or themselves;

• share requested information about your company and products with all Program Members. Confidential Information will be protected by the confidentiality undertaking in section one and data protection processes explained in section three;

• commit to scheduling and attending periodic inter-program calls with peer Participants in the Program and with mentors in the Program;

• provide to all Program Members the details of relationships entered into with individual Program Members as a result of the Program, and output and results of such relationships. This information is to be provided during and after the Program.

 

3.2 Termination and variations

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Pier 25 Team reserves in the right to terminate a Participants involvement in the Program at their sole discretion:

• If participants breach these Terms and Conditions; 

• If participants  engage in inappropriate (as determined by Program Members) or illegal behaviors or are disruptive to overall group cohesion.

Participants will be given prior notice before they are excluded from the Program.
Pier 25 Team may also terminate or make changes to the Program, in each case for any reason at any time. Participants will be given notice of such termination or changes.

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3.3 Acknowledgment and waiver

 

Participants acknowledge that their participation in the Program is at their sole risk. Participants may withdraw from the Program at any time or make alternative arrangements for travel, accommodation or meals (at their cost).

 

Program Members will have no liability to Participants for any loss or damage arising in connection with the Program, including personal injury, property damage or economic loss (except in relation to a breach of the confidentiality undertaking in section 2). Program Members must not make a claim against any Program Member for any such loss or damage.
 

SECTION 4 Conditions of application

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4.1 Responsibility

Fabrica de Startups is not liable for any changes or cancellations to the program due to unforeseen circumstances.

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4.2 Exclusions and Limitations

Fabrica de Startups reserves the right to exclude or reject any idea or participant at any time during the program.

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4.3 Privacy Policy

By participating in this program you confirm you have read and agreed on our Privacy Policy by applying on the program and sharing your contact information with us, your are accepting the Privacy Policy of Fábrica de Startups and you will be added to our mailing list. If you wish to be removed, please send us an email to talk@fabstart.pt

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These rules and regulations are subject to change, and any updates will be communicated to all participants in a timely manner.

 

 

CONTACTS

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FABSTART – Fábrica de Startups, S.A.

Avenida Marginal, Edifício Parque Oceano, 3ºG, 2780-337 Oeiras

talk@fabstart.pt

+ 351 933 500 001

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