The bulk of the gift will fund a new research building for the College of Engineering to replace an existing facility at 1410 Engineering Drive. The investment also includes funding to establish the Foxconn Institute for Research in Science and Technology (FIRST) as well as support for further collaboration in research, education, and scientific outreach. FIRST will have its main location at Foxconn's Wisconn Valley Science & Technology Park near Racine, with an off-campus presence in Madison. Under the agreement, the university plans to raise an additional $100 million for the initiative over the final two years as part of its ongoing $3.2 billion capital campaign.
"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," said Foxconn founder, chair, and CEO Terry Gou.
The gift, one of the largest ever received by the university, will support one of the most ambitious industry research partnerships in UW history, said UW-Madison chancellor Rebecca Blank. "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."
(Photo credit: University of Wisconsin–Madison)