The Hawaii Technology Development Venture and the Center of Excellence for Research and Ocean Sciences provide critical Research & Development funding to Hawaii’s dual use sector companies developing important innovations for the U.S. military that can also be commercialized for non-government purposes.

Senate Bill 1688, being heard by the Senate Ways and Means Committee on February 23 at 9:30 a.m. in room 21 at the Hawaii State Capitol, would provide supplemental funding to accelerate research, development and support commercialization.

This is important because once a product has been developed additional funds are needed to commercialize that cannot be provided by the government.

The Hawaii Venture Capital Association strongly support this bill because it will strengthen dual use sector companies that have received Hawaii Technology Development Venture and Center of Excellence for Research and Ocean Sciences funding, foster employment opportunities and reduce the risk of failure of promising companies.

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