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).
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.
Lithuanian Vice
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In an interview, Gediminas Pauliukevicius, CEO of the operator of the Vilnius City Innovation Industrial Park (VCIIP), outlined the opportunities to expand the life science business in Lithuania. Surrounded by a pine forest and just a stone’s throw from the city, the VCIIP is dedicated exclusively to the development of innovative, research-driven businesses.
During the past couple of decades, the Baltic States have transformed their economies significantly, shifting towards innovative, high value-added industries and increasingly focusing on technologies, information and science sectors. One of the most striking examples of that is the rise of Lithuania’s life sciences industry, which is gaining a lot of momentum and attracting more and more attention internationally.
Fast growing hub of innovation