Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Media, Arts, Science, and Technology, to which was referred Governor's Message No. 273, submitting for study and consideration the nomination of:

begs leave to report as follows:

Your Committee has reviewed the personal history, resume, and statement submitted by the nominee, and finds the nominee to have the necessary qualifications to be appointed to the Board of Directors of the Hawaii Strategic Development Corporation.

Your Committee received testimony in support of the nomination from the Department of Business, Economic Development, and Tourism; the Hawaii Strategic Development Corporation; the Hawaii Technology Trade Association; HiBeam; and one individual.

EDWARD H.W. YOUNG earned a bachelor's degree in accounting from the University of Hawaii at Manoa. He has extensive professional experience in the private banking industry, in which he assisted many start-up technology firms. His knowledge and skills have contributed significantly to the development of Hawaii's technology industry and venture capital community, partly through the pivotal role that his prior company's TIGR program played since 1999-2000. Mr. Young is Project Manager of the Hawaii Technology Development Venture at Enterprise Honolulu, a federal program promoting commercialization of dual use technology. He was a founding member of the Hawaii Technology Trade Association and served as its treasurer for five years, and was also a founding member of HiBeam (Hawaii Business and Entrepreneur Acceleration Mentors). Mr. Young is an ardent supporter of economic development and diversification, particularly in the area of emerging and technology industries. He has served on the board as an interim member since mid-2004, and his financial services experience make him an ideal choice for expanded venture financing activities of the board.

As affirmed by the record of votes of the members of your Committee on Media, Arts, Science, and Technology that is attached to this report, your Committee, after full consideration of the background, experience, and qualifications of the nominee, has found the nominee to be very qualified for the position to which nominated and recommends that the Senate advise and consent to the nomination.