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Foxconn Said to Target Wearables With New Startup Fund

Foxconn Technology Group, maker of Apple Inc. iPhones and iPads, is launching an investment fund to finance startups developing new kinds of wearable computers, according to two people familiar with the project.

Syntrend Creative Park Co., a Foxconn unit, will administer the NT$200 million ($6.8 million) fund and select participants for a trial in the first quarter, the people said, asking not to be identified because the details aren’t public. Operations at the incubator, providing offices and advisory services for startups, will open by the end of next year to create wearable and connected technologies, the people said.