UW, Foxconn announce $100 million gift
In one of the largest gifts in the history of the University of Wisconsin–Madison, Foxconn Technology Group and the university have announced an agreement to invest $100 million in engineering and innovation research while creating the framework for a science and technology institute that will collaborate with Foxconn’s facilities in southeast Wisconsin.
The Foxconn Institute for Research in Science and Technology, or FIRST, is the firm’s latest attempt to establish state partnerships beyond its southeastern Wisconsin campus, which is under construction in Racine County. The interdisciplinary research facility for UW–Madison’s College of Engineering will have its main location at the Wisconn Valley Science & Technology Park near Racine and will also have an off-campus presence in Madison.
Foxconn founder and Chairman Terry Gou and other company executives visited the UW–Madison campus Monday to sign several agreements that outline its future working relationship with UW–Madison. The agreements formalize university's commitment to being part of research efforts at FIRST and Foxconn’s interest in research, recruiting, internships, and hands-on work in campus labs.
UW–Madison Chancellor Rebecca Blank believes the Foxconn collaboration will bring together leading scientists, physicians, and engineers to drive advances in science and technology while fostering the state’s future talent pipeline.
The university also plans to raise an additional $100 million as part of a $200 million fundraising sub-campaign in the final two years of its $3.2 billion All Ways Forward campaign. The initiative will focus on supporting research that advances engineering, data and computer science, and human health.