|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||1||$75,000|
|Regional Innovation Strategies||1||$500,000|
The majority of Hawaii’s economy is based on tourism and agriculture. A continuing problem among communities is that the reliance on these two sectors alone leaves the potential for economic disruption. The diversification of Hawaii’s economy is essential for creating economic resiliency and growth.
In February 2016, EDA invested $500,000 in Regional Innovation Strategies funds to the University of Hawaii System in Honolulu, Hawaii, to expand the capacity of the University of Hawaii’s proof-of-concept and commercialization centers (called “XLR8UH”) to assist entrepreneurial and small business enterprises. XLR8UH was formed as a public-private partnership initiative between the University of Hawaii (UH) and Sultan Ventures (SV) to help foster a culture of innovation and entrepreneurship at UH. The expansion focuses on scaling up research commercialization at UH, with specific outreach to underserved/ rural communities across all Hawaii Islands.