5V Technologies Ltd. ("5VT") seeks to become a leading fabless developer of versatile and complete sy stem-on-a-chip (SoC) solutions that address a myriad of applications in the broadband communications market, with an initial focus on the fast developing VoIP and Wifi phone markets. 5VT is currently developing a 32-bit MCU SoC with system software that is being targeted at ODM/OEM VOIP/Wifi phone manufacturers, of which the world's largest are in Taiwan. Founded in California in 2003 by a team of experienced IC designers and marketers, 5VT intends to conduct its R&D and production activities from its ASIC design center in Taipei and marketing and sales from offices in Taiwan, California, and PRC. The barriers to entry to the Wifi/VOIP chip market are high, as the development of such chips requires substantial IC design and related technical expertise, as well as a detailed understanding of customer requirements. As a result, there are only two chipmakers, Texas Instruments (TI) and Broadcom, currently selling VOIP/Wifi chipsets in any significant volume. 5V seeks to leverage upon its deep technical expertise, combined with is founders' close relationships with key VOIP ODM/OEMs to establish a meaningful market position. 5V seeks to deliver a feature-rich SoC that is also cheaper than available offerings from TI or Broadcom by:Designing a single-chip solution, which will be less expensive than TI or Broadcom's current multi-chip solutions. Designing an universal platform, which can be used for various VoIP/VoWLAN products. Capitalizing on its lower cost development environment in Taipei, including: Lower costs of R&D and engineering NRE due to R&D subsidies available from the Taiwan government. 5V is one of the first three companies to be approved to beand housed in the government's Nankang SoC Development Center, which will save 5V over US$3 2 million in subsidized access to design tools and subsidized rent.