STAND. COM. REP. NO. 2711

Honolulu, Hawaii

RE:    S.B. No. 2943

       S.D. 2

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred S.B. No. 2943, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII RESEARCH,"

begs leave to report as follows:

     The purpose and intent of this measure is to establish an innovation and commercialization initiative program within the University of Hawaii to transform the products of its research and instructional activities into viable economic enterprises that will contribute to the economic development and workforce diversification of the State.

     Your Committee received written comments in support of this measure from the High Technology Development Corporation; University of Hawaii system; XLR8UH; Sultan Ventures; Hawaii Venture Capital Association; Pacific Asian Center for Entrepreneurship; Hawaii Angels; Entrepreneurs Foundation of Hawaii; Startup Capital Ventures; Comprendio, Inc.; RealGreen Power; Energy Excelerator; Aloha Startups; Hawaii Business Roundtable; Impact Hub Honolulu; Chamber of Commerce of Hawaii; and one individual.

     Your Committee received written comments on this measure from the State Procurement Office.

     Your Committee finds that with long-standing program strengths in ocean sciences, energy research, sustainable agriculture, and astronomy, and its growing strength in cybersecurity and health sciences, the University of Hawaii is well-situated to convert selected research results into viable commercial products.  Through these efforts, the university can complement the efforts of other innovation centers in diversifying the State's economy and expanding employment opportunities.

     Your Committee has amended this measure by:

(1)  Adding a requirement for an annual report to the Legislature on uses of the special fund and program cooperation with other state agencies; and

(2)  Changing the effective date to July 1, 2050, in order to facilitate further discussion on the matter.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2943, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2943, S.D. 2.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

________________________________

JILL N. TOKUDA, Chair