$2.7 Million CARES Act Grant To Fund UH Entrepreneurship, Workforce Programs
The University of Hawaiʻi will expand its innovation, entrepreneurship and workforce development program with the support of a $2.7-million CARES Act Recovery Assistance grant from the US Economic Development Administration. This will be matched with $813,068 of local funding.
“In light of the current COVID-19 pandemic and world events beyond our control, never has it been more important for an island-state like Hawaiʻi to develop new industries to supplement its primary, but often fragile tourism-based economy,” said Vassilis L. Syrmos, UH Vice President for Research and Innovation.
EDA funds will help to strengthen, expand and scale UH’s Innovation Impact Challenge (IIC) initiative, which seeks to utilize and promote Hawaiʻi-based talent, knowledge and innovation to create a more resilient and sustainable economy. Spearheaded by the UH Office of Innovation and Commercialization (OIC), the two-pronged initiative aims to develop both UH-based technologies and a corresponding high-tech workforce to support it.
Under the IIC Technology Development Program, the Office of Innovation and Commercialization has been working with its industry, community and government partners to identify their unique challenges, and to engage UH researchers and students to develop new innovative solutions.
These innovations may have potential commercial applications that can later be brought to market either through licensing/patenting of the technology or the formation of a startup company. Current IIC partners include Hawaiian Electric, Hawaiian Telcom, Diamond Bakery and the National Security Innovation Network.
The initiative’s second component, the IIC Workforce Development Program, will seek to establish programs at the UH Community Colleges to re-skill, up-skill and cross-skill the state’s current workforce in information technology and other in-demand areas, in addition to promoting small business creation.
“The CARES grant is a testament to the EDA’s belief in UH’s ability to deliver much-needed programs to help stimulate and develop a stronger and more resilient economy for the state of Hawaiʻi and its citizens,” said Steve Auerbach, OIC interim director.
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to the coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance program, provides a wide range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.