Startup villages in Taiwan, Lithuania sign MOU on cooperation

Taipei, May 28 (CNA) Taiwan's Startup Terrace village on Friday signed a memorandum of understanding (MOU) with a Lithuanian counterpart to share resources and build closer links, according to the Ministry of Economic Affairs (MOEA).

In a statement released Saturday, the ministry said the MOU was inked between Lithuania's Public Institution Innovation Agency and Startup Terrace, the largest startup village in Taiwan, which works to create links with other nations and attract foreign accelerator startups.

The signing ceremony was witnessed by Taiwan's 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 MOEA said.

Lithuania's Vice Minister of Economy and Innovation Eglė Markevičiūtė and Taiwan's representative to Lithuania Eric Jiun-yaw Huang (黃鈞耀) also attended the MOU signing ceremony, the MOEA said.

At the ceremony, Chen said the two innovation startup groups have shouldered the responsibility, on behalf of their governments, to create an innovation ecosystem and open a channel for such exchanges, according to the MOEA statement.

It said the agreement is expected to lay a foundation for Taipei and Vilnius to facilitate exchanges, share resources and strengthen their friendship.

Meanwhile, Chen and his delegation on Friday launched an event -- The Best Passage to ASIA-Startup Ecosystem & Resources in Taiwan -- in Vilnius to inform people there of Taiwan's innovation efforts, the MOEA said.

At the event, Startup Terrace, which is based in New Taipei, presented information about the resources available to foreign startups that wish to grow in Taiwan, according to the MOEA.

Six Taiwanese startups also demonstrated their solutions in a wide range of innovations, the MOEA said, naming 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, among the six.

The previous day, the six startups attracted great attention at the Startup Fair in Vilnius, according to the MOEA.

The ministry said that on Wednesday, Chen held talks with Lithuanian Vice Minister of Economy and Innovation Jovita Neliupšienė on expanding economic cooperation between their two countries, which was the first bilateral economic dialogue at that level.

According to the MOEA, Chen and his delegation have visited Vilnius Tech Park, the largest information communications technology startup center in North Europe; Vilnius City Innovation Industrial Park; and several Lithuanian venture capital firms.

Before arriving in Lithuania, the Taiwanese delegation stopped in Brussels, where they met with European Union officials May 23-24 to discuss bilateral economic ties.

Last November, Taiwan opened a representative office in Lithuania to facilitate bilateral trade and economic exchanges.

Lithuania, however, 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 any references that would imply Taiwan is a separate country from China.