Foxconn Technology Group, the Taiwanese electronics company that specializes in multinational manufacturing, plans to invest $100 million into the engineering research program at the University of Wisconsin. The partnership will establish the Foxconn Institute for Research and Technology, an organization whose mission is to educate.
A large amount of the money will go towards a new facility that will replace the current 1410 Engineering Dr. building. UW-Madison plans to raise $100 million as a part of the All Ways Forward program. Engineering, data, and computer science research will be the areas that will be the most affected by the movement.
Terry Gou, the Founder, and Chairmen of Foxconn Technology Group issued the following statements:
“At Foxconn, we see our role as not only being a major investor in Wisconsin, but also a long-term partner to the local community. This includes promoting a vibrant environment that nurtures and enables Wisconsin’s talented workforce, allowing them to tap the immense opportunities that Wisconn Valley has to offer.”
“The Foxconn Institute for Research in Science and Technology will provide funding on practical topics and capabilities in core areas that will become increasingly invaluable to the advanced technology hub, along with the artificial intelligence, 8K resolution and 5G wireless technology ecosystem that we are building in Wisconsin.”
Rebecca Blank, the Chancellor of UW-Madison, issued the following statement:
“UW–Madison, and Foxconn share a commitment to pushing the boundaries of knowledge through interdisciplinary research and we are deeply grateful for Chairman Gou’s support and partnership. The partnership combines the strengths of two global leaders — one of the world’s top high-tech manufacturing companies and one of the world’s top universities. Our collaboration will bring together some of the world’s leading scientists, physicians, and engineers to drive advances in technology and science while fostering the talent pipeline that will help build Wisconsin’s future.”
UW-Madison is grateful for Foxconn’s donation and hopes to utilize the funding at full capacity.