Foxconn Chairman Terry Gou and UW-Madison Chancellor Rebecca Blank announced $ 100 million to Foxconn University in Wisconsin-Madison.

MADISON – Foxconn Technology Group announced Monday that it will invest up to $ 100 million in the University of Wisconsin-Madison, including funding for a new one interdisciplinary research facility for the College of Engineering that will work with Foxconn's facilities in southeastern Wisconsin

Foxconn chairman and founder Terry Gou was on campus to announce the announcement at the Wisconsin Institute for Discovery along with UW Chancellor Rebecca Blank and several campus To make deans of colleges that will benefit.

To receive the full $ 100 million from Foxconn, UW will have to collect another $ 100 million in private gifts over the next two years as part of a wider bid, $ 3.2 Billions fundraiser titled All Ways Forward.

Subcampaign depicting Foxconn's gift will focus on promoting research that advances technology, data, computing and human health. A match gift should spur others to increase

"Foxconn would not be required to pay the $ 100 million gift unless UW raises one by the end of the campaign corresponding amount These broad areas, "confirmed UW spokesman John Lucas.

"We are two very different institutions," said Blank, announcing a "historic moment" for the University, Foxconn and the state. "But we share a deep commitment to pushing the boundaries of knowledge."

Foxconn's gift is the largest investment by a research partner in university history and among the greatest gifts the university has ever received, Blank said.

It also includes money for the construction of a new engineering building, which was previously only on the long-distance drawing board.

The state's residents have invested heavily in luring the Taiwanese electronics giant's new $ 10 billion factory to Mount Pleasant, Racine County. The company said its factory will employ as many as 13,000 workers producing liquid crystal display panels and promoting the creation of thousands of other jobs at suppliers seeking near Foxconn.

In return, the megaplat could receive $ 4 billion in public subsidies "By far the largest investment to lure a manufacturing facility to Wisconsin."

"I am very excited about it," said Blank at a press conference following the announcement of the University Research Partnership. "You do not often get a $ 100 million gift, and the generosity of Chairman Gou and Foxconn is just great."

Louis Woo, special assistant to Gou, said Foxconn sees the gift and collaboration with the university as "a long-term commitment to the state of Wisconsin."

Foxconn has acquired a six-storey office building in downtown Milwaukee for a regional headquarters in addition to the manufacturing campus currently under construction and announced the opening of "Innovation Centers" there and in Green Bay and Eau Claire.

The new Foxconn Institute for research in science and technology at UW is conceived as a center for technological innovation and provides an environment for research and development initiatives in medicine, materials science, computer and data-driven science among others.

Known as FIRST, the institute will will have its main site at Wisconn Valley Science & Technology Park near Racine, and will also have a presentation outside of campus ce in Madison.

Research in human health will be conducted in areas such as genomics, immune cell research, clinical data integrity and processing and medical imaging be i come to cancer and related diseases.

Gou has a personal interest in cancer research. Gou lost his first wife and younger brother to the disease.

RELATED: Foxconn's Terry Gou's interest in cancer research brings corporate executives to the University of Wisconsin

officials said Foxconn and UW will work together to develop initiatives to promote technological advances To identify and develop education and scientific engagement.

The agreements formalize UW's commitment as part of FIRST and Foxconn's research efforts, recruitment, internships and internships "I am very touched," Blank said of the Foxconn gift, "and very excited about the opportunities that exist will present this gift … "

" I hope that we will have even more opportunities to work in laboratories, "she told reporters," to have really cool equipment with which to learn something in projects that are between the University of Wisconsin and Foxconn, and in turn, create quite a few job opportunities for them when they leave this campus.

RELATED: UW-Madison Chancellor announces new faculty recruiting efforts to drive critical research areas

FULL COVER: Foxconn Updates

WISCONSINEYE: Foxconn Announces $ 100 Million Investment in UW-Madison [an]

The planned new engineering building will enhance the college's capabilities, making it possible to become an active partner in research of mutual interest with FIRST to be, Blank said.

The partnership also agrees with Foxconn's continued efforts to identify links between academia and industry to drive technological advances, and to build a talent pipeline to capitalize on the opportunities created by Wisconn Valley Science & Technology Park.

"At Foxconn, we see our role not only as an important investor in Wisconsin, but also as a long-term partner to the local community," said Gou. "This includes fostering a dynamic environment that will empower the talented Wisconsin workforce and enable them to capitalize on the immense potential of the Wisconn Valley."

Gou said FIRST will provide funding for practical topics in core areas that will be invaluable to the advanced technology hub, along with the artificial intelligence, 8K resolution and 5G wireless technology ecosystem that the company is in Wisconsin builds.

The liquid crystal display panel plant Foxconn in Mount Pleasant will be fed through research at UW, Woo said.

"All ideas come out here," he said. "So there will be a lot of cooperation."

Blank said that UW and Foxconn will share the intellectual property ownership that comes from joint research

"We have a consensus on exactly how we will work on it," she said. "This will differ a little bit from different types of projects, but the understanding is that we both will have some intellectual property."

The bulk of Foxconn's gift will go into a new interdisciplinary facility for the College of Art Engineering will replace 1410 Engineering Drive, the full details of which will be announced later.

"The partnership brings together the strengths of two global market leaders – one of the world's leading high-tech manufacturing companies and one of the best universities in the world," said the Chancellor.

Blank and Gou signed what Blank called "basically declarations of intent, declarations of intent to partner". Legal contracts will follow later and require the approval of the UW System Board of Regents, she said.

The agreements signed on Monday describe the planned cooperation and partnership between Foxconn and UW – Madison and are public documents – even though they were silent. Late in the afternoon they were still being processed and were not yet available, said University spokesman John Lucas.

The gift contract is separate. It's between Foxconn and the Wisconsin Foundation and Alumni Association, and "is not public because the university does not hold it," Lucas said. He described the foundation as a fundraising arm of the university – a subsidiary of UW – Madison, but "not part of the university's state entity."

Lucas could not say what Foxconn's gift of donation would be if the university suffered $ 100 million.

"I have no additional details to explain how the game is structured in this case, except to say that's pretty common," he said. "It's an arrangement we've used frequently in the last few years, especially with big gifts."

One recent example, Lucas said, was the $ 50 million gift pledged by the late Milwaukee Money Manager "Ab" Nicholas and his college Sweetheart wife Nancy. Announced in June 2015, the UW Alumni couple's commitment was reached in late 2016, creating a $ 100 million scholarship foundation. [194559011]

Read or Share This Story: