Innovation Economy Message

One of the best ways to create sustainable job growth and opportunity in 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/ 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 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 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  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