HOUSE OF REPRESENTATIVES	H.B. NO.	2084
TWENTY-NINTH LEGISLATURE, 2018
STATE OF HAWAII

A BILL FOR AN ACT

relating to the hawaii technology development corporation.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. The mission of the Hawaii technology development corporation is to develop and support an innovation industry in the State. In 2015, the development corporation started the neighbor island innovation initiative (NI3) program as part of the 80|80 initiative to create 80,000 new technology and innovation jobs that pay a salary of $80,000 or more per year statewide by 2030. The program was modeled after the Maryland rural business innovation initiative program, which provides free, on-site mentorship specific to technology and manufacturing businesses.

The program facilitates better access to state resources, including experienced staff, training, federal and state grant programs, and programs of partner agencies. In addition to the direct mentorship provided to companies, the program has served as a key facilitator for collaborative efforts, such as the Hawaii Island business plan competition and the Kauai Kilauea agriculture park. Since its inception, the program has met with ninety-one companies and provided assistance to fifty. In 2016, the program reported an economic impact of over $6,000,000.

SECTION 2. Section 206M-3.5, Hawaii Revised Statutes, is amended to read as follows:

"[[]§206M-3.5[]] Annual reports. The development corporation shall report annually to the legislature twenty days prior to the convening of the session on the impact of the program on:

(1) Increasing the awareness of the federal small business innovation research program and the number of companies submitting proposals to federal agencies;

(2) Increasing the number of phase I awards received by Hawaii businesses under the small business innovation research program; [and]

(3) Increasing the number of phase I to phase II conversions by Hawaii businesses[.]; and

(4) Providing outreach and mentorship assistance to innovative small businesses on the neighbor islands."

SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $         or so much thereof as may be necessary for fiscal year 2018-2019 for the purpose of continuing the neighbor island innovation initiative program.

The sum appropriated shall be expended by the Hawaii technology development corporation for the purposes of this Act.

SECTION 4. This Act shall take effect on July 1, 2018.

INTRODUCED BY:

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Report Title:

Hawaii Technology Development Corporation; Neighbor Island Small Business; Innovation; Appropriation

Description:

Requires reporting on providing outreach and mentorship to innovative small businesses on the neighbor islands. Appropriates funds for the Hawaii Technology Development Corporation to continue providing support on the Neighbor Islands.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.