Hawaii Technology Development Corporation allocates millions in grant funding

HONOLULU (HawaiiNewsNow) - The Hawaii Technology Development Corporation recently allocated millions of dollars in grant funding to help empower local businesses and foster an environment where they can thrive and exude innovation.

The Manufacturing Assistance Program is providing $1.7 million to strengthen Hawaii’s manufacturing sector. The intent is to elevate the global competitiveness of Hawaii manufacturers by providing eligible businesses with equipment, workforce training and valuable resources. The MAP grant will offer a reimbursement of up to 20% (capped at $100,000) for eligible expenditures.

Hawaii Small Business Innovation Research will receive $2 million to boost qualified small businesses. Eligible recipients are businesses who formerly received grants from the federal Small Business Innovation Research.

Additionally, HDTC will continue to foster entrepreneurial skills through their 2024 Accelerator and Small Business Program. A total of $1.9 million has been granted to provide extensive training and support to local businesses.

“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 in a recent press release. “The infusion of funding is a pivotal step toward sustainability and prosperity of Hawaii’s small businesses.”

The funding from HDTC hopes to pave way for a successful local technology ecosystem that will simultaneously strengthen economic growth across the local business community.

More information about HTDC and its grants can be found at www.htdc.org