State agencies responsible for promoting and improving innovation and technology in Hawaii received a $4 million boost at a bill-signing ceremony held in Governor Ige’s office Tuesday.
The legislation of HB 1069, developed and supported by the Chamber of Commerce of Hawaii and the state’s High Technology Development Corporation (HTDC), will provide grants to startups, manufacturers and small businesses leveraging technology to develop new products and processes and increase energy efficiency.
Patrick Sullivan, founder of the local engineering firm Oceanit, said “these grants enable us to move products from concept to commercialization, resulting in breakthrough technologies, as well as generating company growth, jobs and increased revenue for state and local governments.”
The establishment of a manufacturing grant program for up to 20 percent support for manufacturing equipment, training, and energy efficiency will make $2 million available to local companies.
HTDC executive director Robert Melton said “the actions of the governor and the Legislature will give us a big boost toward reaching our 80/80 goal announced this year, with the aim of creating 80,000 jobs earning $80,000 by 2030 in fields involving technology and innovation.“