(WPR)---Foxconn Technology Group will invest $100 million in engineering and innovation research at the University of Wisconsin-Madison.
The deal announced Monday is one of the largest gifts in the university's history and comes as the Taiwan-based electronics giant builds its first North American factory in southeastern Wisconsin.
Foxconn CEO Terry Gou and UW-Madison Chancellor Rebecca Blank signed an agreement that also calls for Foxconn and the university to create a science and technology institute on the UW-Madison campus that will work closely with Foxconn's facilities in southeast Wisconsin.
Blank said the deal is the largest industry research partnership in the school's history.
"The commitment that Foxconn is making today is the largest investment a research partner has ever made to our university and one of the largest gifts we’ve ever received at UW-Madison," Blank said. "I’m very touched by generosity of and excited about the opportunities that this gift is going to open up for our faculty, students and the state of Wisconsin."
Also under the agreement, UW–Madison and Foxconn will create the Foxconn Institute for Research in Science and Technology. The institute, dubbed FIRST, will be at Foxconn's main technology park in Mount Pleasant but have an off-campus presence in Madison, according to a press release on the partnership.
The work at the research institute will focus on technological innovation, and bring opportunities to investigate initiatives in medical science, computer and data-driven science, and other fields.
"We want to work together on research related to robotics, autonomous vehicles, medical imaging, evening exploring new cancer treatments," Blank said.
According to stakeholders, the deal fosters a commitment to research, recruitment and educational opportunities like internships and hands-on lab work.
"It is my hope this gift will allow courageous innovations. And On Wisconsin!" Gou said.
Foxconn is the world's leading electronics manufacturer. It chose Wisconsin for its first plant outside of Asia after receiving generous incentives from the state. According to Foxconn, the plant could cost up to $10 billion and eventually employ 13,000 people.
"A partnership that 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. We’re two very different institutions but we share a deep commitment to pushing the boundaries of knowledge," Blank said.
Editor's note: This story was last updated at 12:11 p.m. Monday, Aug. 27, 2018 with information on the partnership and comments from Rebecca Blank and Terry Gou.
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