Foxconn and UW Madison have announced a research partnership. UW Madison Chancelor Rebecca Blank, announced Monday that Foxconn will give $100 million dollars to fund science and technology research. “I’m very excited about this. You don’t get $100 million gifts very often,” Blank said.
Foxconn announces $100M gift, new partnership with UW, @UWMadEngr https://t.co/YJMW81tMOf
— UW-Madison (@UWMadison) August 27, 2018
The UW plans to raise an additional $100 million in matching funds in this Foxconn deal, as part of a larger $3.2 billion fundraising effort. The Foxconn money will go towards development of an on-campus Foxconn Institute for Research in Science and Technology, or FIRST.
Blank was asked who will own any “intellectual property” generated there. “We have an agreement about exactly how we’re going to work on this,” she said. “The understanding is that we will both have some ownership of the intellectual property.”
Also on Monday, Foxconn exec Louis Woo said the company’s commitment to the massive Racine County project is unchanged. “Our original commitment to the state of Wisconsin, 13,000 meaninggul and creative jobs, that has not changed. Ten billion dollars invested, that has not changed.”
