Hawaii's HTDC Announces Statewide Incubation Services Program

Secures State as Pilot Site for FastTrac™

Coming soon to an island near you — business development services. That could be the sales pitch for a new development within the High Technology Development Corporation (HTDC), Hawaii's lead tech-based economic development agency.

HTDC launched last week a statewide incubation services program designed to give incubation tenants and non-tenants access to business development services, strategic partnerships, networking and marketing opportunities, shared support services, and business mentoring. Prior to launching its new program, HTDC's incubation services were limited to tenants at its Manoa Innovation Center on Oahu and its Maui Research & Technology Center on Maui. The expanded program brings services to technology start-ups on the Big Island and Kauai.

External groups such as the University of Hawaii-Hilo are expected to partner with HTDC to strengthen the new program. UH-Hilo has signed on with a $3 million commitment, the Honolulu Advertiser reported last week. Additional funding will be derived from state and federal sources.

As part of its business development services initiative, HTDC will now offer two additional programs — the Manufacturing Extension Partnership (MEP) Program and FastTrac. MEP was created in 1988 as part of the Department of Commerce's National Institute of Standards and Technology to help small and midsize companies succeed. The Hawaii MEP program will be administered by HTDC, operating under the name of Innovative Solutions. Previously, Innovative Solutions was the only Hawaii-based organization that supported the state's manufacturers.

FastTrac, a program of the Ewing Marion Kauffman Foundation, provides entrepreneurs with business insights, leadership skills and professional networking connections so they are prepared to create a new business or expand an existing enterprise. Considered one of America's leading entrepreneurial training resources, FastTrac has assisted more than 60,000 people across the country start or grow a business. FastTrac programs are currently provided in 150 cities in 38 states.

In addition, HTDC announced it has secured Hawaii as a pilot site for a new technology-focused entrepreneurship development program called FastTrac Technology, a part of the national FastTrac program. Hawaii will serve as one of a few designated pilot sites that will offer the program this fall to local high-tech entrepreneurs before it is launched nationwide in Spring 2004. The nine-week program will be administered by HTDC and will take place on Oahu, from Oct. 13 to Dec. 8.

The HTDC Board of Directors appointed Dr. Philip Bossert as executive director and chief executive officer of HTDC in conjunction with its new incubation services program. Bossert is charged with implementing the agency's island-wide incubation program, as well as expanding existing services within HTDC.

A full announcement regarding the above initiatives is available at http://www.hitechhawaii.com.