Foxconn Technology Group has pledged to invest $100 million in UW-Madison to further engineering research and create a new tech facility on the university’s campus.

The deal, unveiled at a joint news conference yesterday morning in Madison,  includes plans to set up the Foxconn Institute for Research in Science and Technology, in addition to a new research facility that would feature labs and student learning spaces for UW-Madison’s College of Engineering.

Foxconn Chairman and CEO Terry Gou said the partnership would “enable groundbreaking research and innovation in applied science.”

“It is my hope that this gift … will help promote cooperations, innovations and entrepreneurship across Wisconsin,” he said.

UW-Madison Chancellor Rebecca Blank said the $100 million agreement marks the university’s largest industry research partnership, as well as one of the largest gifts in UW’s history.

The university is also planning to raise an additional $100 million as part of its $3.2 billion “All Ways Forward” fundraising campaign over the next two years, she said.

Blank told reporters after she and Gou signed the declaration of intent that there’s no clear timeline for establishing the new research facility on campus. Read the full story here.

– WisconsinEye: View the press conference here.

– Foxconn announces $100 million gift to UW-Madison to establish new research enterprise

– Foxconn giving UW-Madison $100 million gift

– Foxconn pledges $100M for research partnership with UW-Madison

– Foxconn, UW-Madison sign $100M agreement to invest in engineering, innovation