Based on a commitment to continuous investment in research and development, TEL has introduced a steady stream of new and advanced techniques to the market, and is well positioned to provide the next generation of technology, innovation, and products. The company has state-of-the-art research and development facilities in Japan, Europe, and the United States to support ongoing advancement.
TEL is positioning its research centers, including the Leading-edge Process Development Center in Yamanashi Prefecture, the TEL Technology Center, America, LLC in New York state, and TEL Technology Center, Taiwan in Taiwan, at the core of our R&D initiatives.
One of TEL's primary initiatives is to develop collaborative relationships with leading industry consortia, such as IMEC, SELETE, MIRAI (Millennium Research for Advanced Information Technology), and International SEMATECH. Through these partnerships, we are not only better able to support our customers, but also to branch out into new industry arenas while enhancing current research and development efforts.
Additionally, we work with a variety of universities across the world to expose students and faculty to the semiconductor industry, while also conducting exploratory research for developing technologies and processes. Most recently TEL joined Semiconductor Research Corporation (SRC), the world's leading university-research consortium for semiconductors and related technologies. The SRC works to expand the industry knowledge base and attract premier students to help innovate and transfer semiconductor technology to the commercial industry.
TEL also believes that working closely with chip manufacturers, material suppliers, and other equipment suppliers to pursue common goals and learn collectively in a pre-competitive manner ensures timely solutions to the technology roadmap.
One of TEL's medium-term growth strategies is the creation and development of new business. In July 2006, TEL Venture Capital, Inc. was established to discover, assess, and utilize promising technologies on a global scale. TEL Venture Capital, based in California, engages in dynamic business activities and obtains the most recent information from Silicon Valley, where many start-up companies and venture capital firms have come together to form a unique community.