TAIPEI (Taiwan News) — Taiwanese electronics manufacturer Foxconn (Hon Hai) announced Tuesday (March 15) it is granting free access to over 1,400 patents in a program that will benefit startups while promoting the spirit of patent-sharing.

Foxconn will first grant licenses to patents on innovations spanning information and communications technology, touch panels, process improvement, robotics, artificial intelligence, blockchain, wearable devices, signal control, motors, and machinery, among other areas, the company said in a statement.

Priority will be given to startups that are less than two years old and whose technologies or products are of interest to Foxconn considering its plans for future development. Companies will enjoy three-year, royalty-free access to the patents after their applications are approved.

The initiative to share know-how will help upstart companies find their footing and nurture innovations based on what has been achieved, which Foxconn believes is conducive to upgrading industries, according to Lin Jung-yi (林忠億), head of the company's intellectual property division.

As of January, Foxconn had over 54,200 patents worldwide, 62.5% of which were granted by the U.S. and Japan, per CNA.