“New Money for Your Business” Information Sessions Aimed at Neighbor Island Businesses

Posted on Dec 31, 2015 in News

For Immediate Release: December 31, 2015

Business Owners Can Learn About New Program and Funding Opportunities

HONOLULU—The Department of Business, Economic Development and Tourism (DBEDT) and its attached agency, the High Technology Development Corporation (HTDC) will hold information sessions on new funding programs for technology and manufacturing companies.

The “New Money for Your Business” information sessions will be held on the Big Island, Maui and Kauai, and is aimed at helping companies grow their business.

DBEDT’s Hawaii State Trade Export Promotion (HiSTEP) Program focuses on growing Hawaii’s export industry by offering an integrated business development approach carried out in three stages:

  1. The Export Readiness Program prepares Hawaii companies to expand their export market development.
  2. The Assistance Program funds costs associated with export market development.
  3. Hawaii Pavilions offers a platform for businesses to showcase their products on the international stage, via a series of trade shows throughout Asia and the U.S.

More information on the HiSTEP program and links to applications may be found at: invest.hawaii.gov/exporting/histep.

HTDC’s new program providing free assistance, the Neighbor Island Innovation Initiative (NI3), will offer business and technical help and mentorship that is not readily available to technology-related small businesses on the neighbor islands with the goal of helping advance them in product development, sales or investment. Eligible companies must have fewer than 16 employees and less than $1 million in annual revenue.

The sessions will also be announcing information on new grant programs, including:

  • Hawaii Small Business Innovation Research (HSBIR) grants to develop new technologies and innovations. The state’s grant fund is expanding Phase II and Phase III awards to match up to 50 percent up to $500,000.
  • Manufacturing Assistance Program (MAP) grants that offer a 20 percent reimbursement, up to $100,000, on purchasing manufacturing equipment, training and energy-efficiency projects.
  • Hawaii Office of Naval Research (HONR) grants that offer up to 50 percent matching funds for alternative energy research and development projects.

“We are continuing to work on growing jobs, raising incomes, and cultivating innovation, said DBEDT Director Luis Salaveria. “Supporting the growth of technology businesses and entrepreneurship on the neighbor islands are key factors in raising the profile of tech and innovation throughout the state.”

Robbie Melton, CEO and executive director of HTDC, added: “As more companies grow their business with the help of valuable resources and funding, they will be providing much-needed high-tech jobs that will help us reach our 80/80 goal: the creation of 80,000 new tech and innovation jobs paying $80,000 or more by 2030.”

The sessions will be held on the following dates and times:

Hawaii Island
Wednesday, Jan. 6, 2016
9 – 11 a.m.
NELHA Gateway Center
73-4460 Queen Kaahumanu Highway
Kailua-Kona, HI 96740

Monday, Jan. 11, 2016
4 – 6 p.m.
County of Hawaii
Aupuni Center Conference Room
101 Pauahi St.
Hilo, HI 96720

(Includes grand opening of Maui Research & Technology Center
co-working space)
Wednesday, Jan. 6, 2016
4 – 7 p.m.
Maui Research & Technology Center
590 Lipoa Parkway
Kihei, HI 96753

Wednesday, Jan. 13, 2016
11 a.m.–1 p.m.
Ha Coffee Bar
4180 Rice St.
Lihue, HI 96766

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Media Contacts:
Robbie Melton
Office: (808) 539-3615
Website: www.htdc.org

Christine Hirasa
Phone: (808) 587-9006
Mobile: (808) 286-9017
Website: dbedt.hawaii.gov