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A state agency attached to the Department of Business, Economic Development & Tourism (DBEDT) has unleashed nearly $6 million in grants across a wide range of Hawaiʻi businesses and programs, organizerst announced on Wednesday.
The Hawaiʻi Technology Development Corporation (HTDC), under DBEDT, reports that it allocated funds in three separate grant programs, which are primarily focused on promoting and developing Hawaiʻi’s technology and manufacturing industry.
The Manufacturing Assistance Program (MAP) grant, a cornerstone of HTDC’s initiatives, set aside a sum of $1.75 million to bolster Hawaiʻi’s manufacturing sector. The MAP grant provides a reimbursement of up to 20% (capped at $100,000) on eligible expenditures, which include equipment procurement, workforce training, energy efficiency projects and feasibility studies for manufacturing. This strategic investment is designed to elevate the global competitiveness of Hawaiʻi’s manufacturers, equipping them with the resources to excel in today’s dynamic market landscape.
The Hawaiʻi Small Business Innovation Research (HSBIR) award program earmarked $2 million to assist businesses that have been recipients of federal Small Business Innovation Research (SBIR) grants. With its roots tracing back to 1988, Hawaiʻi’s SBIR matching grant program holds the distinction of being the longest-running state-funded SBIR matching program in the United States. This financial support not only fuels technological innovations but also enhances the competitive edge of small businesses, thereby stimulating job growth and fortifying the state’s economy.
HTDC demonstrated its commitment to fostering entrepreneurial skills through the 2024 Accelerator and Small Business Training Program, in which $1.9 million was granted to nine programs following an intensive selection process. The programs are aimed at delivering extensive training and support to local enterprises, initiatives designed to nurture a thriving environment of innovation and entrepreneurship, with a particular emphasis on enabling Hawaiʻi-based businesses to flourish and prosper.
“Congratulations to awardees of the MAP, SBIR, and Accelerator grants. These grants are set to be the catalysts that propel the awardees’ endeavors, stimulating growth and nurturing innovation within our local sectors,” said Wayne Inouye, interim executive director of HTDC. “The infusion of funding is a pivotal step toward sustainability and prosperity of Hawai‘i’s small businesses.”
For more information about HTDC and its grant programs, visit www.htdc.org.
Phase I Company Awards:
Phase II Company Awards:
Phase III Company Awards:
*First-time SBIR companies
*First-time MAP companies
*First-time Accelerator and Small Business Training companies
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Kahului • Wailuku • Ma‘alaea
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