• The initiative aims to encourage entrepreneurs to start businesses to revive the neighborhood’s economy.
• It is part of Sands China’s revitalization efforts in cooperation with the Macao SAR government.

Sands China recently launched the “Entrepreneurship Recruitment Programme for Rua Das Estalagens”, aimed at revitalizing one of Macau’s historic districts. The announcement was made during a press conference in early April, unveiling a series of support measures including financial assistance to invigorate the local economy.

The project, which falls under Sands China’s broader initiative to rejuvenate old neighborhoods including the Former Iec Long Firecracker Factory, the Taipa Houses and Pátio da Eterna Felicidade, seeks to transform Rua Das Estalagens into a hub of innovative business and cultural activity.

Leong Wai Man, President of the Cultural Affairs Bureau, highlighted the joint efforts of the Macao SAR Government and Sands China in revitalizing the street, which is known for its rich cultural heritage. The initiative aims to introduce creative dynamics into the area, converting it into a sustainable urban public space that reflects local cultural characteristics.

According to Dr Wilfred Wong, Executive Vice Chairman of Sands China, as a historic commercial street in Macau, Rua Das Estalagens holds significant historical and cultural value. The plan includes providing start-up grants, which will be awarded to selected businesses based on a competitive selection process.

“The program aims to introduce diverse business elements to the district in order to revive a bustling street atmosphere,” said Dr Wong. “The ultimate objective is to promote sustainable economic development within the community.”

The program is now accepting applications through 31 May 2024, with eligibility limited to permanent residents of Macau aged 21 and over. Applicants are expected to have a minimum of MOP300,000 in start-up capital. Sands China has committed to matching funds up to a ratio of 1:2, with a maximum grant of MOP1 million available to successful enterprises. Judging criteria for the program will focus on innovation, feasibility, uniqueness and the potential for sustainable operations.

Additionally, Sands China plans to conduct entrepreneurship training courses, host open days and provide skills enhancement workshops to help participants understand and capitalize on the opportunities at Rua Das Estalagens.

This project is supported by the Macao Chamber of Commerce and guided by the Office of the Secretary for Social Affairs and Culture of the Macao SAR Government. It builds on Sands China’s ongoing efforts since 2017 to support local SMEs through its Financial Support, Invitational Matching, Training and Development (FIT), local Small and Micro Enterprises (SME) support program and the recently established Sands Resorts Incubation Centre, both of which are aimed at nurturing local entrepreneurial talent and innovative enterprises.