Tesoro Venture Capital, an Arizona-based venture fund and accelerator focused on artificial intelligence and semiconductor innovation, and Startup Island TAIWAN (SIT), the national startup brand powered by Taiwan’s National Development Council, announced the signing of a Memorandum of Understanding to deepen collaboration between the U.S. and Taiwan in the rapidly expanding AI + Semiconductor sectors.
The partnership establishes a two-way bridge between two of the world’s most dynamic technology ecosystems — Arizona and Taiwan — focused on accelerating startup growth, facilitating investment, and connecting innovators with corporate and manufacturing resources across both regions.
At a time when global investment in semiconductors and AI is projected to reach multi- trillion-dollar levels by 2030, Tesoro VC and SIT are aligning efforts to ensure startups remain at the heart of that growth. The partnership will focus on five key pillars: startup acceleration, market access, joint events, co-investment opportunities, and ecosystem development—linking universities, corporates, and research institutes across both regions to strengthen innovation, commercialization, and cross-border collaboration.
Startups have always been the life’s blood of the AI and semiconductor industries. Every global leader — Nvidia, TSMC, Apple, OpenAI — was once a startup. Arizona has emerged as the epicenter of U.S. semiconductor and AI investment, home to over 200 semiconductor-related companies and a rapidly growing AI infrastructure hub. The state now hosts more than $165 billion in TSMC fabs, Intel’s multi-billion-dollar expansion, and Amkor’s new $7 billion advanced packaging facility in Peoria, alongside major investments from Apple, Microsoft, Nvidia, Amazon, and OpenAI in AI, cloud, and hyperscale data centers.
Taiwan, meanwhile, remains the world’s cornerstone of semiconductor design, manufacturing, and innovation. This partnership brings both regions together in a shared mission—to empower startups to lead the next wave of global technology development and ensure that the fabs and data centers of today are filled with the breakthrough ideas that define tomorrow.
“The next generation of trillion-dollar companies will come from the intersection of AI and semiconductors—and startups are where that value is born,” said Andy Lombard, Managing Partner of Tesoro VC. “Our model bridges early-stage innovation directly into the global semiconductor value chain. With partners like TSMC, Cadence, and Amkor, we’re giving investors and corporates access to the founders building the chips, systems, and AI platforms that will power the next decade of growth. Partnering with Startup Island TAIWAN extends that bridge across the Pacific—connecting Arizona’s infrastructure with Taiwan’s unmatched innovation ecosystem.”
“Taiwan has long been the world’s innovation engine for advanced technologies, and Startup Island TAIWAN was created to connect our founders to global markets,” said Amanda Lui, Managing Director of Startup Island TAIWAN. “Partnering with Tesoro VC provides a direct bridge into Arizona’s growing semiconductor and AI hub, enabling startups to access investment, corporate partnerships and real commercial pathways. Together, we’re creating a cross-border platform that accelerates growth and amplifies impact.”
“The partnership between Tesoro VC and Startup Island TAIWAN is an exciting step to help more startups in the microchip, artificial intelligence, and other tech industries grow their U.S. presence in Phoenix” said U.S. Sen. Mark Kelly, “Building on the 2023 agreement I witnessed in Taiwan between the Greater Phoenix Economic Council and Startup Island Taiwan, today’s milestone will further strengthen the bonds between Phoenix and Taiwan, paving the way for more innovation, good-paying jobs, and continued economic growth in Arizona.”
“This partnership exemplifies the type of global collaboration that has driven Greater Phoenix’s emergence as a premier hub for advanced manufacturing and innovation” said Christine Mackay, President & CEO of the Greater Phoenix Economic Council, “Tesoro VC and Startup Island TAIWAN are building powerful pathways for startups to scale, and we are proud to support their work in building the future of AI and semiconductors.”
The MOU builds on previous collaborations between SIT and GPEC and supports broader national objectives in both the U.S. and Taiwan to strengthen supply chain resiliency, accelerate startup-driven commercialization, and expand global innovation networks. Through this partnership, Tesoro VC and Startup Island TAIWAN aim to co- launch initiatives that bring together investors, corporates, universities, and governments to turn bold ideas into world-changing technologies.
