Hon Hai, a Taiwan-based electronics manufacturer, has agreed its first partnership with three US venture capital firms.
NEA, Onset Ventures and DCM signed the agreement at Hon Hai’s 2010 Foxconn Technology Forum.
The partnership will offer the three VCs’ portfolio companies support in expanding.
Terry Gou, chairman of Hon Hai, told the news provider Financial Times (FT) that his company would act as an “incubator centre” for Silicon Valley start-ups and local newswires it would turn “small chickens into small eagles, even full-fledged eagles”.
He told the FT: “We can create prototypes, we can help them find clients, we can ensure they have sufficient capital and we can even help them develop markets in Asia as they develop their market in the US.
“This is just a start. We could have many [such agreements] in future quarters.”
The first five portfolio companies in the partnership are battery maker Enovix, wireless data provider SiBeam, semiconductor company Zenverge and software companies Splashtop and Pancetera.