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Taiwan, Lithuania sign startup MOU in Vilnius

Government, business representatives introduce Taiwan’s startup ecosystem to Lithuania

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Taiwan's Startup Terrace and Lithuania's Public Institution Innovation Agency sign an MOU. (MOEA photo)

Taiwan's Startup Terrace and Lithuania's Public Institution Innovation Agency sign an MOU. (MOEA photo)

TAIPEI (Taiwan News) — Taiwan and Lithuania signed a memorandum of understanding (MOU) to promote startup investments during an event in Vilnius entitled, “The Best Passage to ASIA — Startup Ecosystem and Resources in Taiwan,” on Friday (May 27).

In a press release, the Ministry of Economic Affairs (MOEA) wrote that Deputy Minister Chen Chern-chyi (陳正祺), Taiwan Representative to Lithuania Eric Huang (黃鈞耀), and Lithuanian Vice-Minister of the Economy and Innovation Egle Markeviciute attended the event to witness the signing of the MOU between Taiwan’s Startup Terrace and Lithuania’s Public Institution Innovation Agency.

Chen was cited as saying that both entities are important startup platforms to the Taiwan and Lithuania governments as they promote the sector. He said the MOU helps turn the two countries’ friendship and resources into “nutrients” for startups, paving the way for more collaborations and exchanges.

Six Taiwanese startup teams made presentations at the event to showcase Taiwan’s innovative ideas and talents. Aside from attending the Friday event, the Taiwan delegation also attended a pitch battle at Thursday’s (May 26) Startup Fair, visited Vilnius Tech Park, Vilnius City Innovation Industrial Park, venture capital and potential unicorn companies, and government departments.

According to the MOEA, Lithuania offers several advantages to Taiwanese investors, such as the country’s convenient location, abundant talent in the field of information, finance, and technology, as well as its high interest in working with Taiwan as a way to enter the Asian market.