Smart watches, all-seeing eyeglasses, and embedded biological digital tools are all vying for one of twenty special investments to be made into companies.
Foxconn has set up an investment fund to support start-up companies specialized in wearable device development. This NTD200 million fund will be managed by Syntrend Creative Park, a company under Foxconn in Taiwan.
Syntrend will select 20 start-up wearable technology companies and each company will gain about NTD1 million investment. In addition, Syntrend also plans to cooperate with universities to promote student projects and to hold entrepreneurship competitions.
The first batch of participants will be selected in the first quarter of 2014. The related incubator park is expected to start operation at the end of 2014. This park will provide offices and consulting services to start-ups aiming to develop wearable and accessible technologies.
In 2010, Foxconn gained a Taiwanese government contract to build a 12-floor office building in Taipei for retail stores and product displays of local and international brands. Two floors of this building will be used in the incubator project as temporary offices for the start-ups.