Foxconn has joined forces with the Jinan's municipal government to establish a fund that will aim to boost the local semiconductor ecosystem.
Taiwan-based electronics contract manufacturer Foxconn has partnered the municipal government of Jinan in China to form a RMB3.75bn ($545m) fund aimed at the semiconductor sector, China Money Network reported on Friday.
Foxconn has committed to setting up five integrated circuit design companies and one high-performance chip developer in Jinan, all which are expected to benefit from the fund.
The corporate has also spun off its existing semiconductor projects into a new, as yet unnamed company that will manage four existing…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
