MADISON – Foxconn Technology Group and its Chairman and Founder Terry Gou announced Monday that they are investing $ 100 million in engineering and innovation research at the University of Wisconsin-Madison and setting the framework for a science and technology institute to work closely with the company's future facilities in Mount Pleasant.
The Foxconn investment will include funding for the creation of a new interdisciplinary research facility for the College of Engineering on the UW Madison campus.
Gou and other senior Foxconn executives visited Campus Monday and, along with university officials, signed several deals designed to formalize and streamline their future working relationship.
Under the Foxconn UW-Madison Collaboration Statement, the parties set up the Foxconn Institute for Research in Science and Technology or FIRST. It aims to be a center for technological innovation and provide an environment for research and development initiatives in the fields of medicine, materials science, computer and data science and other fields.
FIRST will have its main site in the future Wisconn Valley Science and Technology Park in Mount Pleasant and also a presence outside of campus in Madison.
According to the written notice, the agreements formalize UW's commitment as part of FIRST's and Foxconn's research efforts in activities such as research, recruitment, opportunities for internships, and hands-on work in campus laboratories.
In addition, the planned engineering building will enhance UW's capabilities and enable FIRST to be an active partner in research of common interest.
Foxconn is the world leader in manufacturing services for the computer, communications and consumer electronics industries.
Faster Innovation in Ovevement
UW Chancellor Rebecca Blank said the partnership meant that "life-changing innovations need to get from the laboratory to work more quickly" and "renegotiate new details every time". Foxconn and UW-Madison are seeking a partnership.
"Foxconn sees its role in being not only an important investor in Wisconsin, but also a long-term partner of the local community," said Foxconn founder and CEO Gou. "This includes fostering a dynamic environment that nurtures and promotes Wisconsin's talented workforce, enabling them to capitalize on the immense potential of the Wisconn Valley."
Gou continued, "The Foxconn Institute for Research in Science and Technology will provide hands-on topics and skills in core areas that are invaluable to the advanced technology hub, along with artificial intelligence, 8K resolution, and the 5G wireless technology ecosystem we build in Wisconsin. "
Biggest industry research partnership
The multi-faceted, interdisciplinary partnership to promote the country's research and engineering is Blank's largest industry research partnership and one of the greatest gifts in the history of the university.
The bulk of Foxconn's gift will be in a new interdisciplinary facility for the College of Engineering, the details of which will be announced later.
Blank said the partnership with Foxconn "combines the strengths of two world leaders: one of the world's leading high-tech manufacturing companies and one of the best universities in the world." Our collaboration will bring together some of the world's leading scientists, physicians and engineers Advancing technology and science advances while promoting the talent pipeline that will help build the future of Wisconsin. "
Areas of potential study could include advanced technology on the panel, biochips B. Semiconductors, application-specific integrated circuits (ASIC), Intelligent Building, Intelligent Infrastructure and Intelligent Urban Development, High Performance Computing, High Speed Communication Networks, Cloud Server Storage, Sensors, Robotics and IT Systems
A focus on promoting research on human health in areas such as G Enzyme, immune cell research, clinical data integrity and processing as well as medical imaging of cancer and related diseases. The two parties will also work together to identify and develop initiatives to promote technological progress, education and scientific engagement.
The partnership, Foxconn's representative said, is in line with their continued efforts to identify science-industry links to drive technological advances, building a talent pipeline to meet the promise of the anticipated Wisconn Valley Science and Technology Park offers $ 10 billion.
The Wisconsin State Journal contributed to this report.