Venture capitalists discuss impact of development on deal flow

Two Foxconn employees attended the two-day Wisconsin Entrepreneurs’ Conference in Madison this week to get a feel for Wisconsin’s startup climate.

Alan Yeung speaks at the Wisconsin Entrepreneurs Conference in Madison June 6, 2018.

Alan Yeung, director of U.S. strategic initiatives at Foxconn, spoke at the concluding conference luncheon at his alma mater, University of Wisconsin-Madison, about the company’s commitment to entrepreneurship and innovation.

“We’ve been actually doing a lot of listening. … Two of my colleagues have been here the last couple days really getting immersed in the entrepreneurship environment, culture that I seem to remember from many years when I was a student here,” Yeung said.

He touted the company’s $1 million commitment to its Smart City, Smart Future initiative to seek and develop ideas for smart connected cities and systems, but also hinted at additional investments in startups here.

“We hope in the weeks and months to come, we can come back to you and actually announce more of the work that we want to do to contribute to your success,” Yeung said to the gathered entrepreneurs.

Asked what kinds of technology Foxconn is interested in, he pointed to health care and medical sciences and autonomous vehicles.

“We also would like to be not just a doer and practitioner. We’re also looking towards becoming investor, accelerator and hopefully enabler in the community as well,” Yeung said.

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