Business

HTDC Awards Two Kona Companies More than $200K

April 17, 2017, 10:03 AM HST
* Updated April 17, 7:58 PM
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The High Technology Development Corporation (HTDC) has awarded grants to two Hawaiʻi Island companies based in Kona that focus on sustainable mariculture.

Forever Oceans was awarded $57,906 in grant funding by HTDC, and Kampachi Farms was awarded $59,000 (Phase 1) and $100,000 (Phase 2). Both Kona-based businesses operate eco-friendly, sustainable fish farms that support both food security and ocean preservation.

“We are pleased to support these federal grant recipients at the state level to help them expand on their research and development,” said Luis P. Salaveria, director of the Department of Business, Economic Development and Tourism, which oversees HTDC. “In addition to the contribution these companies have made to Hawaiʻi’s innovation economy, their cutting-edge work has the potential to create meaningful and lasting benefits to our community.”

“Hawaiʻi companies are developing solutions to address important issues in healthcare, energy, sustainable food sciences and defense technology, which will have national and international impacts,” said Robbie Melton, executive director and CEO of HTDC. “Funding these types of projects not only enables companies to bring their products to market, it also helps to build the state’s technology ecosystem and spurs innovation.”

HTDC is a state-funded organization focused on developing the high-tech industry in Hawaiʻi through resource support and workforce initiatives. The grant funding was provided through the Hawaiʻi Small Business Innovation Research (HSBIR) program to support research and development efforts for new products and solutions.

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A total of seven Hawaiʻi-based companies were awarded grants by HTDC which totaled over $1 million. The funds will be provided in two phases. Companies must be recipients of federal SBIR grants to qualify for state level funding.

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Phase 1 grants, which funds projects through the early stages of development, were awarded to six Hawaiʻi-based companies:

  • Adnoviv LLC   (O‘ahu)                      $79,000
  • Forever Oceans (Hawaiʻi)                $57,906
  • Hawaii Biotech (O‘ahu)                    $100,000
  • Jun Innovations (O‘ahu)                   $49,700
  • Kampachi Farms (Hawaiʻi)              $59,000
  • Oceanit (O‘ahu)                                $135,000 (3 projects)

Two companies received Phase 2 grants, which will accelerate the development of their projects:

  • Hawaiʻi Biotech                               $191,425
  • Kampachi Farms                             $100,000

 

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