Excel - link for only a part of a cell

I know, Excel is not primarily desgined to hold text. However, many use Excel also for tables containing text. Often, we would like to insert a link to a specific webpage. Currently the links spans over the entire content of a cell: 

for one word-entries this might be okay, but in a long text adding the link to the entire cell makes it unreadable.

Thus we would like to add the link just to the relevant word(s), as I tried to illustrate below. Is this possible? (I only styled the word as a link, it's not an actual link.)