The Macao Young Entrepreneur Incubation Centre says it will give prizes for outstanding Portuguese and Brazilian entries in its Parafuturo de Macao innovation and entrepreneurship competition, Lusa reports.

The Portuguese news agency quotes a written statement issued by the centre as saying prizes will be awarded for projects pursued in lusophone countries.

The report says heats will be held in Portugal and Brazil, and the winners will compete in the final.

The competition offers 300,000 patacas (about US$37,400) of prize money, the report says.

The winners will qualify for the China Internet Plus College Students Innovation and Entrepreneurship Competition, the Fosun Protechting Startup Accelerator Programme, and the Create@Alibaba Cloud Startup Contest, Lusa says.