HI Growth Initiative
The HI Growth Initiative is a new State investment program focused on building an innovation ecosystem that supports entrepreneurial high growth businesses and creates high wage jobs for our people. The HI Growth Initiative provides $20 million of investment capital that will focus on the critical building blocks of an innovation ecosystem: entrepreneur development, research commercialization and the mobilization of startup investment capital.
The knowledge and creative industries represent important new sources of economic growth for Hawaii. Their workforce already accounts for nearly 8% of the total jobs in the State. These industries are growing rapidly, have high value output, compete globally using digital technologies and leverage Hawaii’s ability to be the meeting place for the world. They do not require large land and water resources to achieve global scale. Knowledge intensive industries favor regions with a high quality of life, a distinct competitive advantage for Hawaii.
This comprehensive investment program represents a bold new approach to re-invigorate state efforts to fuel an innovation economy. The HI Growth Initiative engages with the private sector to startup and grow creative and innovative companies. This initiative will help to keep our established industries competitive, create new areas of opportunities to excite our entrepreneurs and provide them the ecosystem to pursue their dreams here in Hawaii.HI Growth Initiative Progress Report (rev. 6/20/14)