Contact:  Jennifer Sabas (808) 927-7706

Keith Matsumoto (808) 258-9209

 

SENATOR INOUYE ANNOUNCES HAWAII TECHNOLOGY DEVELOPMENT VENTURE.

 

WEDNESDAY, JUNE 30, 2004

 

For Immediate Release.

 

Honolulu – U.S. Senator Daniel K. Inouye today announced the roll-out of the Hawaii Technology Development Venture (HTDV). HTDV is a project of the Office of Naval Research and will be administered by the Pacific International Center for High Technology Research. Other partners in support of the initiative are: Enterprise Honolulu, Battelle, Lockheed Martin Orincon Technologies, and the Center for Excellence of Research in Ocean Sciences,

 

A formal ceremony will be held on July 1, 2004 at 12:30 p.m. in the Board Room of the First Hawaiian Bank.

 

“In setting up the Hawaii Technology Development Venture, we will be developing a center to exploit the capabilities of Hawaii-based small businesses in performing high technology efforts related to current and future Department of Defense programs. The results of this effort will be a strong technology base in Hawaii to meet the technology requirements of the Department of Defense and other federal agencies,” Senator Inouye said.

 

In doing so, HTDV will:

 

*Leverage private and public sector assets to establish an early assessment of technologies for dual use, and to identify commercial technologies for use by the Department of Defense and other federal entities;

 

*Focus on avenues for spin-in and spin-out of technologies and pre-prototype, prototype, and commercialization funding support to accelerate the technology innovation, development, and commercialization process;

 

*Support the overall development, transfer, and commercialization of all technologies developed in Hawaii;

 

*Build on successes of other technology commercialization programs and benefit from the best practices from such programs;

 

*Assist with the commercialization of Department of Defense developed and/or owned technologies; and

 

*Emphasize education and training as a means of supporting small businesses and enhance the commercialization potential for innovative, advanced technologies.

 

Harold S. Matsumoto will be the program director of HTDV. The program offices will be in the Manoa Innovation Center and will provide:

 

*Company consultations and mentoring services;

 

*Technology assessment assistance;

 

*Market assessments and studies;

 

*Partnering assistance;

 

*Business plan assistance and services;

 

&Grant assistance for the support of technology innovation and development, enhancement of commercialization potential of developed technologies; and

 

*Support the long-term economic sustainability for technology businesses in Hawaii.

 

Support services will also be provided at the Enterprise Honolulu offices in the Mauka Tower of the Pacific Guardian Center.

 

A Request for Proposal will be issued on July 1, 2004 and can be downloaded at www.pichtr.org/htdv/rfp.pdf. Initial grant awards are expected in the September 2004 time frame.