Innovation Economy Message
One of the best ways to create sustainable job growth and opportunity in Hawaii is to grow the research & innovation sectors.
We need to work together to achieve it… Our quality of life and that of future generations depends on it. ???% THE 4 HAWAII ECONOMIES
Research, Technology 3 SECTORS COMPETE WITH OTHER REGIONS & Innovation FOR GROWTH Local Services
Convention/ Tourism 60+%
16.7% Military & Federal Civilian 15.4% • Get a common understanding / language • Excellent University-centered Research is a magnet and an engine for growth • The growth is for all parts of the community • Create a healthy “innovation eco-system” • It doesn’t happen over night… Strong University Research Core University of Hawaii Areas of Excellence Established Astronomy/Aerospace Ocean Sciences Directly “Imports” $400-500 million Emerging each year Health Sciences and Wellness …and has attracted Informatics / Data Analytics companies that Sustainability bring in additional Energy funding Water Food Climate
Strong University-centered Research
Linkabit - founded in 1968 Hybritech : founded in 1978 by UC San Diego professor by UC San Diego professors Irwin M. Jacobs Ivor Royston and Howard Birndorf
IT/Wireless/Software Life Sciences Strong University-centered Research
Today: Today: more than 1000 more than 600 companies companies
IT/Wireless/Software Life Sciences Benefits the Whole Community
$85,000
Detroit, MI $75,000 Flint, MI Visalia, CA
Yuma, AZ
Merced, CA $65,000
$55,000 Hawaii
$45,000
Average Salary (2014$) Salary Average “Brain Hubs” Boston $35,000 San Francisco Raleigh-Durham Seattle Austin $25,000 5% 15% 25% 35% 45% 55% Percent with College Degrees Moretti: Plus Multiplier effect on local services New businesses nurtured by the Hawaii research economy
Support staff, equipment, etc
$ $ $ Research -Private sector Federal funding / -Venture cap research funds activity -State Hawaiian Electric Hawaii Natural Energy Inst. - Existing Infrastructure and - World-class Research capability Regulatory Framework - Strong track record of - Renewable Penetration Pushing attracting Research funding Technical Envelope
High Energy Costs Ideal Renewable Environment Technology Challenges and Limitations Existing Local Resources Existing Local Companies Energy Excelerator Example: HNu Photonics - Established by Pacific Int’l - Rounded in 2006, originally Center for High Tech Research serving military research - Significant funding / grants - Expanded into HNu Energy, and expertise Huge Hnu Power, and Others Innovation Opportunity New Start-ups New Players NewNew Start Start-ups-ups NewNew Start Start-ups-ups Gap Priorities University of Hawaii: Steadily grow the Research Core, with more emphasis on commercialization potential. Dramatically increase private-sector research collaboration. Make UH resources accessible. Broader Community: Advocate for research sector growth and promote a healthier innovation “eco-system” Engage private-sector mentorship and funding focused on commercializing Hawaii technology
Next Steps -Work Streams
Outreach/Communication/Awareness Cluster “convocation” University Capabilities and Business Engagement Entrepreneurship and Business Mentorship Visibility with and access to Investors and Capital Workforce Development Hawaii Connect Hawaii Innovation Assets Report Partners: Hawaii Business Roundtable UHERO Chamber of Commerce of Hawaii State of Hawaii-DBEDT City and County of Honolulu Hawaii County Maui County Kauai County Pacific Resource Partnership uhero.hawaii.edu 2015 Build Strong & Complementary Traded Sectors
Convention/
Tourism
Import $ Local Services Research, Federal - Technology, Military & & Innovation Civilian