STAND. COM. REP. NO. 77

Honolulu, Hawaii

RE:    S.B. No. 763

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Economic Development, Tourism, and Technology, to which was referred S.B. No. 763 entitled:

"A BILL FOR AN ACT RELATING TO THE HIGH TECHNOLOGY DEVELOPMENT CORPORATION,"

begs leave to report as follows:

     The purpose and intent of this measure is to appropriate funds to the High Technology Development Corporation for the Small Business Innovation Research program to support continued innovation in the State.

     Your Committee received testimony in support of this measure from the Hawaii Strategic Development Corporation; High Technology Development Corporation; Chamber of Commerce Hawaii; Hawaii Biotech, Inc.; Hawaii Evolutionary Development, LLC; Hawaii Fish Company; HNu Photonics, LLC; Hyperspective Studios, Inc.; Kolohala Holdings, LLP; Maui Food Innovation Center; Nalu Scientific, LLC; Navatek; and Oceanit Laboratories, Inc.

     Your Committee finds that the High Technology Development Corporation Small Business Innovation Research program helps businesses develop technology and innovation in the State.  The program matches federal Small Business Innovation Research program grants.  Your Committee finds that program's grant matching system is one of the key state components in diversifying and accelerating Hawaii's innovation and economy.

     As affirmed by the record of votes of the members of your Committee on Economic Development, Tourism, and Technology that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 763 and recommends that it pass Second Reading and be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Economic Development, Tourism, and Technology,

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GLENN WAKAI, Chair