The second edition of “MGM x MYEIC Young Entrepreneur Nurturing Program” (Program), co-organized by MGM, Parafuturo de Macau (PFM Macau) and Macao Young Entrepreneur Incubation Centre (MYEIC) introduced a new project series, namely the “Pulse-Checking for Young Entrepreneurs”. Aimed to help young entrepreneurs to seek breakthroughs in their businesses, this new project is set to provide targeting solutions through mentoring visits. Earlier, a group of mentors of the Program, comprised of management team members of both MGM and MYEIC, visited three of the participating businesses. The mentors provided their professional insights and support to the young entrepreneurs, after getting to know the challenges each of their businesses currently faces.
The group of mentors visited three businesses of MYEIC member who take part in the Program, which were 2048 (Macau) Limited, Green Cleaning Products Limited and Le Mountain Brand Creative Limited. They provided insights on brand imaging, market positioning and ways to establish business deals with large enterprises.
Launch Hit-product to Wow the Market
Being the only craft beer specialty brewery in the city, the representative of 2048 (Macau) Limited raised concerns on market positioning and strategies. After taking their case into study, mentors suggested them to launch some hit-product with simple, punch-line messages that target certain group of consumers. Mentors also advised them to apply for third-party quality assurance qualifications, which MGM is pleased to facilitate on.
Product Quality is Key to Attract Large Enterprises
Representative of the local cleaning supply company Green Cleaning Products Limited sought advises on how to breakthrough industry traditions and establish business partnerships with large enterprises with innovative products. Mentors suggested them to focus on quality to details, in order to reach the purchasing standards of 5-star hotels. Paying extra attention to details is also a key to success, so that they can provide products that precisely target users’ needs and work habit, to increase efficiency and avoid mistakes.
Representative of Le Mountain Brand Creative Limited, a brand marketing and design company, got into discussion on how to create a sustainable business model and shared the company’s background and previous developmental trends with the visiting mentors. Mentors who are specialized in brand marketing analyzed the company’s strengths and challenges, based on their marketing position, pricing strategies, customer services and cost-effectiveness. Through identifying their assets, the visit helped Le Mountain Brand Creative Limited to enhance their profit strategies.
Lam Ka Vai, CEO of MYEIC, said in concluding the visits, “This new series of enterprises visits are set to build an effective communication channel, so that MGM management team members may share their professional experiences and insights with our young entrepreneurs and provide pragmatic solutions to their business projects. We will continue with more follow-up visits to ensure the Project continues to be helpful and effective in nurturing local young entrepreneurs.”
MGM is an abbreviation for MGM China Holdings Limited (HKEx: 2282) and is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions/subconcessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and MGM COTAI, a contemporary luxury integrated resort in Cotai, which opened in early 2018 and more than doubles our presence in Macau.
MGM MACAU is a Forbes Five-Star luxury integrated resort inspired by the arts with every element of the resort infused with creativity and style. MGM MACAU has approximately 600 guest rooms and suites and boasts a number of distinguishing features, including the architecturally stunning European-inspired Grande Praça, housed under a soaring glass ceiling. MGM MACAU’s world class facilities include the MGM Art Space, dedicating over 5,000 square feet to display authentic works of art, conference and event facilities, spa, and seven signature restaurants and bars to fulfill any gastronomic craving. Our property is conveniently located on the Macau Peninsula and is directly connected to the luxury retail shopping complex, One Central.
MGM COTAI is the latest integrated resort of MGM in China. Designed as the “jewelry box” of Cotai, it offers approximately 1,400 hotel rooms and suites, Asia’s first dynamic theater, meeting space, high end spa, retail offerings and food and beverage outlets as well as the first international Mansion at MGM for the ultimate luxury experience. The Spectacle at MGM COTAI becomes the record holder of the largest free-span gridshell glazed roof (self-supporting) on January 19, 2019, making it the first architectural and structural GUINNESS WORLD RECORDS™ title for Macau, China. MGM COTAI is being developed to drive greater product diversification and bring more advanced and innovative forms of entertainment to Macau as it grows as a global tourist destination. MGM COTAI is the only mega complex and hotel in Macau to gain three-star certification in both Green Building Design and Operation Label, as well as the first hotel in the Greater Bay Area and second in Greater China to receive the certifications.
MGM China Holdings Limited is majority owned by MGM Resorts International (NYSE: MGM), one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage.
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