Taiwan’s Startup Terrace on Friday signed a memorandum of understanding with a start-up incubator in Lithuania to share resources and build closer links, the Ministry of Economic Affairs said yesterday.
The memorandum was signed by Lithuania’s Innovation Agency and Startup Terrace, the largest start-up village in Taiwan, which works to create links with other nations and attract foreign accelerator start-ups, the ministry said in a statement.
The signing was witnessed by Deputy Minister of Economic Affairs Chen Chern-chyi (陳正祺), who is leading a 24-member delegation on a three-day visit to Lithuania to expand bilateral trade and economic ties, the ministry said.
Photo courtesy of the Minister of Economic Affairs
Lithuanian Vice Minister of Economy and Innovation Egle Markeviciute and Representative to Lithuania Eric Huang (黃鈞耀) also attended the ceremony, it added.
Chen told the ceremony that the two start-up groups have taken on the task of creating innovation ecosystems and opening channels for exchanges, the ministry said.
The memorandum of understanding is expected to lay a foundation for Taipei and Vilnius to facilitate exchanges, share resources and enhance their friendship, it said.
Chen and the delegation on Friday also launched the “Best Passage to ASIA — Startup Ecosystem & Resources in Taiwan” event in Vilnius to promote Taiwan’s innovation efforts, it said.
At the event, Startup Terrace, which is based in New Taipei City, presented information about the resources available to foreign start-ups seeking to grow in Taiwan, it said.
Six Taiwanese start-ups also demonstrated their progress in a wide range of innovations, the ministry said.
Among the firms were wireless communications service provider Ubiik, health monitoring technology provider Singular Wings and Turning Drive, the first Taiwanese firm to develop self-driving technologies for buses.
On Thursday the six start-ups attracted a lot of attention at the Startup Fair in Vilnius, the ministry said.
On Wednesday, Chen held talks with Lithuanian Vice Minister of Economy and Innovation Jovita Neliupsiene on expanding economic cooperation between their nations, in their first bilateral economic dialogue held at that level, it said.
The delegation has visited Vilnius Tech Park, the largest information communications technology start-up center in northern Europe; Vilnius City Innovation Industrial Park; and several Lithuanian venture capital firms, it said.
Before arriving in Lithuania, the delegation stopped in Brussels, where they met with EU officials on Monday and Tuesday to discuss bilateral economic ties.
In November last year, Taiwan opened a representative office in Lithuania to facilitate bilateral trade and economic exchanges.
Lithuania has come under heavy political and economic pressure from China over the name of the office: Taiwanese Representative Office.
Taiwan’ typically names its overseas representative offices “Taipei Economic and Cultural Office” or “Taipei Representative Office,” in keeping with the host countries’ preference to avoid provoking a response from Beijing.
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