Hawaii
State Resources
Located, 2,000 miles south of the U.S. mainland, these beautiful islands are home to approximately 1.5 million people. Tourism continues to be the primary source of income in Hawaii, followed by agriculture and Defense. Eleven military bases are located on the Hawaiian Islands and large military exercises such as the Rim of the Pacific (RIMPAC) are often held in this region. The mission of the State’s Department of Economic Development referred to as the Department of Business, Economic Development & Tourism (DBEDT) is to achieve “a Hawaii economy that embraces innovation and is globally competitive, dynamic and productive, providing opportunities for all Hawaii’s citizens. The Hawai’i Technology Development Corporation (HTDC), focused on developing the technology sector is another important entity.
Hawai’i Small Business Innovation Research (HSBIR) Program
Small businesses that have received an SBIR/STTR grant from a federal agency can apply for a Hawaiʻi Small Business Innovation Research Program (HSBIR) award, which provides matching grants to help companies further develop new products to solve critical issues. This matching funds program provides up to a 50% match. Phase I awards take the form of a 50% match or up to $75,000, while Phase II/III awards when available, provide up to a 50% match or up to $500,000 of the Federal Phase II/III award, whichever is less.
Manufacturing Assistance Program (MAP)
HTDC’s Manufacturing Assistance Program (MAP) seeks to help Hawaiʻi manufacturers become globally competitive. Hawaiʻi-based manufacturers can qualify for up to a 20% reimbursement (up to $100,000) on qualified expenses) from MAP.
HI-CAP Loan Program
Funded by the U.S. Treasury for the State Small Business Credit Initiative (SSBCI), in 2022, $62 million was secured by the HI-CAP Loan Program to be deployed until 2030 to assist small business, start-ups and entrepreneurs in Hawaii. This loan initiative that is jointly managed by HTDC and the Hawai’I Green Infrastructure Authority. Technologies of particular interest include renewable energy, local agriculture, dual-use technologies and manufacturing.
