Hawaii Technology Development Corporation (HTDC)

What Hawaii Technology Development Corporation (HTDC) does

Hawaii Technology Development Corporation (HTDC) is a Hawaii state government agency established in 1983 (one source cites 1980) and attached to the Department of Business, Economic Development and Tourism (DBEDT). Its mandate is to diversify Hawaii's economy beyond tourism by fostering technology, manufacturing, energy, and innovation sectors through capital deployment, infrastructure provision, and talent development. HTDC administers a portfolio of interconnected programs including the Manufacturing Assistance Program (MAP), Hawaii Small Business Innovation Research (HSBIR) matching grants, HI-CAP capital programs (including HI-CAP Invest), INNOVATE Hawaii (operating as the state's NIST Manufacturing Extension Partnership Center), the Hawaii Center for Advanced Transportation Technologies (HCATT), accelerator and small business training programs, and the Aerospace Program. It also operates physical incubation facilities: the Entrepreneurs Sandbox in Honolulu (Kakaako) and the Maui Research & Technology Center in Kihei (with Cohana Coworking).

Name

Hawaii Technology Development Corporation (HTDC)

Legal name

Hawaii Technology Development Corporation

Website

https://htdc.org

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

11–50 employees

Short description

Hawaii Technology Development Corporation (HTDC) is a Hawaii state agency that administers grant programs, technical assistance, and incubation facilities to support the state's technology, manufacturing, energy, and innovation sectors. It serves Hawaii-based startups, manufacturers, and entrepreneurs through programs including MAP, HSBIR, HI-CAP, and INNOVATE Hawaii.

Ownership category

akta.pro rank

Headquarters

HQ city

Honolulu

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Government Funding Administration: HTDC administers federal and state funding programs including SSBCI (State Small Business Credit Initiative), manufacturing grants, and SBIR matching grants to support Hawaii's technology and innovation economy. Revenue comes through appropriations and federal allocations rather than commercial revenue generation.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

HTDC is Hawaii's state economic development agency that administers federal and state grant programs (including SSBCI, MAP manufacturing grants, and HSBIR matching grants), technical assistance services, accelerator/small business training programs, and low-cost incubator facilities (Entrepreneurs Sandbox in Honolulu and Maui Research & Technology Center in Kihei) to support Hawaii-based technology startups, manufacturers, and innovation companies. It serves as Hawaii's NIST-affiliated Manufacturing Extension Partnership (MEP) Center through INNOVATE Hawaii and operates the Hawaii Center for Advanced Transportation Technologies (HCATT) for clean energy/hydrogen research in partnership with the U.S. Air Force.

Product overview

Hawaii Technology Development Corporation (HTDC) is a dynamic state agency that serves as a one-stop resource for technology and innovation development across Hawaii. Rather than a single unified product, HTDC offers a comprehensive portfolio of interconnected programs, facilities, and funding opportunities organized into four main categories: (1) Tech and Innovation programs including Hawaii Tech Bridge, HSBIR, HI-CAP, TRUE, and the Aerospace Program; (2) Manufacturing support through INNOVATE Hawaii and the Manufacturing Assistance Program (MAP); (3) Energy Tech initiatives led by HCATT including the PEARL microgrid project; and (4) Incubation facilities including the Entrepreneurs Sandbox and Maui Research & Technology Center. These offerings work together to provide capital, infrastructure, talent development, and business support services that help companies launch, scale, and become globally competitive.

Differentiator

Problem solved

Functional benefit

Products and services

• Manufacturing Assistance Program (MAP) A signature grant initiative supporting Hawaii's manufacturing sector that awards grants to small and medium-sized manufacturers for capital expenditures, machinery, automation, and process improvements to increase production efficiency and technological advancement.
• Hawaii Small Business Innovation Research (HSBIR) Program A state matching grant program that helps Hawaii companies develop new products to solve critical issues by leveraging federal SBIR funding, supporting projects in ocean, space, health, and energy technologies.
• HI-CAP (Hawaii Capital) A capital assistance program providing funding to Hawaii businesses, startups, and entrepreneurs through the State Small Business Credit Initiative (SSBCI), seeding local venture capital funds and providing collateral support for loans.
• HI-CAP Invest An offering administered by HTDC that enables venture capital funds and investors to contribute to Hawaii's startup and entrepreneurial endeavors, with minimum 1:1 matching capital requirements.
• Accelerator and Small Business Training Programs Programs providing in-depth training, mentoring, and modest investment to Hawaii tech companies, including nationally recognized accelerators with different areas of focus and entry requirements.
• Entrepreneurs Sandbox A community and collaboration center located in downtown Honolulu (Kakaako) for innovators of all ages, encouraging creativity, technology, innovation, and entrepreneurship, hosting business educational programs and networking events.
• Maui Research & Technology Center (MRTC) An incubator facility in South Kihei on Maui offering low-cost office space for startup technology companies and co-working space (Cohana), with business mentoring and shared facilities.
• Hawaii Center for Advanced Transportation Technologies (HCATT) The energy innovation arm of HTDC, advancing Hawaii's 100% renewable energy goal through hydrogen and fuel cell research, demonstration, and education in partnership with the U.S. Air Force.
• Pacific Energy Assurance and Renewables Laboratory (PEARL) A renewable energy microgrid demonstrating new ways for military facilities to address energy needs, mission assurance, and cybersecurity, serving as a test bed for Hawaii's goal of 100% renewable energy by 2045.
• Hawaii Tech Bridge A program established by the U.S. Navy that leverages Hawaii's innovation ecosystem to solve Navy and Marine Corps challenges through local technology partnerships.
• TRUE (Technology Readiness User Evaluation) A non-profit organization driven by public and private sector leaders who share technology-based solutions to common business problems, helping to increase sustainability and cultivate a thriving Hawaii through collaboration.
• INNOVATE Hawaii Hawaii's Manufacturing Extension Partnership (MEP) Center that enhances the productivity, growth, and technical performance of small and medium-sized manufacturers through educational programs and direct mentoring.
• Hawaii Tax Credit for Research Activities A research and development tax credit program for qualified expenses offered by the State of Hawaii.
• Aerospace Program A program supporting aerospace industry development in Hawaii, including efforts to establish space launch operations at Hilo International Airport.
• Legal Help Free legal assistance through the BLC legal clinic to help with legal questions when starting a company.
• E-Commerce & Digital Marketing Hawaii's only comprehensive e-commerce and digital marketing program to support local businesses.
• Technical Assistance Program Technical assistance services connecting Hawaii businesses with trusted advisors to address immediate needs and plan growth paths.

Quantifiable outcome

• Over 20:1 return on state investment through HSBIR program (federal dollars leveraged vs state dollars invested)
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• Hub Coworking HawaiicoreChannel Partner/ Reseller/ Distributor · 1 May 2023HTDC selected Hub Coworking Hawaii as the new partner to manage the Entrepreneurs Sandbox coworking and collaboration space in Kaka'ako, Honolulu, effective May 1, 2023. Hub Coworking provides day-to-day operations and community management for the innovation facility.
• Cohana CoworkingminorChannel Partner/ Reseller/ DistributorCohana Coworking operates as the co-working space component at the Maui Research & Technology Center, providing flexible workspace for startup technology companies alongside HTDC's incubator facilities.
• Blue Startups LLCcoreStrategic or Co-development PartnerBlue Startups is a Honolulu-based venture accelerator that helps early-stage technology companies grow globally through mentoring, seed investment, and international network access. Founded in 2012, it is one of HTDC's key accelerator partners supporting Hawaii's startup ecosystem.
• Mana Up Labs LLCcoreStrategic or Co-development PartnerMana Up is a Hawaii-based accelerator and venture platform that helps local consumer brands grow into competitive national and global businesses, offering mentorship, capital, and operational guidance while building scalable, values-driven companies.
• Maui Economic Development Board Inc.coreStrategic or Co-development PartnerMaui Economic Development Board serves as a key partner in delivering accelerator and small business training programs on Maui, supporting HTDC's mission to develop Hawaii's innovation economy across all islands.
• NIST National Manufacturing Extension PartnershipcoreStrategic or Co-development PartnerHTDC's INNOVATE Hawaii program operates as Hawaii's Manufacturing Extension Partnership (MEP) Center under the National Institute of Standards and Technology, providing manufacturing assistance and extension services.
• U.S. Air ForcecoreStrategic or Co-development PartnerHCATT has partnered with the U.S. Air Force for over 20 years on hydrogen and fuel cell research, demonstration and education, supporting Hawaii's clean energy transition.
• Defense Innovation OnRamp Hub: HawaiicoreStrategic or Co-development PartnerPart of the U.S. Department of Defense's Defense Innovation Unit network, connecting commercial innovators with government and defense organizations. Supports dual-use technology development for Hawaii companies.
• Hawaii Small Business Development Center (HISBDC)coreStrategic or Co-development PartnerSSBCI Technical Assistance partner providing funding-ready training and business development services to Hawaii small businesses through HTDC-supported programs.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Maryland Technology Development Corporation (TEDCO): Maryland's state-chartered technology development corporation that provides funding, incubation, and commercialization support to early-stage technology companies. TEDCO is the closest structural analogue to HTDC as a state technology development entity with SBIR matching, seed/venture funds, and innovation programs.
• Ben Franklin Technology Partners: A Pennsylvania-based state-funded network that provides capital, technical assistance, and incubation to technology startups and manufacturers. It mirrors HTDC's combined model of technology funding plus manufacturing extension-style support.
• Connecticut Innovations: Connecticut's quasi-public state venture fund and innovation arm that deploys capital to in-state startups and technology companies. It is comparable to HTDC in administering state-backed capital and innovation programs for a single U.S. state.

Broad incumbents

• MassDevelopment: Massachusetts's state economic development finance agency that combines real estate, financing, and innovation support. Comparable to HTDC as a state-level economic development and capital deployment entity, though with a broader real estate/financing remit.
• Empire State Development: New York State's economic development organization that administers state grant and incentive programs, including tech and innovation funding streams. It is comparable to HTDC as a state agency channeling public capital to businesses, though operating at significantly larger scale.
• NIST Hollings Manufacturing Extension Partnership (MEP): The federal program under which HTDC's INNOVATE Hawaii operates. Comparable because MEP centers in other states perform the same manufacturing extension, productivity, and modernization work that INNOVATE Hawaii delivers in Hawaii.

Regional players

• Business Oregon: Oregon's state economic development agency that administers business grants, technical assistance, and innovation funding. Functionally similar to HTDC as a state economic development and technology/innovation support entity serving a single non-Hawaii state.

Emerging players

• Launch Fishers: Indiana-based public-private startup hub and coworking/incubation facility that supports technology entrepreneurs. It is comparable to HTDC's Entrepreneurs Sandbox and MRTC incubation components, though without the state's broader grant-administration role.
• gener8tor: A national venture accelerator and investment network that runs programs for early-stage startups, including state-funded accelerators. Comparable to HTDC's accelerator and small business training program portfolio.
• 1871: A Chicago-based nonprofit technology hub and incubator that provides workspace, programming, and corporate partnerships for startups. Comparable to HTDC's Entrepreneurs Sandbox as a municipally-supported technology coworking and programming facility, though on a larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/HTDCorg
• Facebookfacebook.com/htdcorg
• Instagraminstagram.com/htdcorg

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries7 records

Funding overview

Funding rounds2 records

Investors2 records

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M&A

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hawaii Technology Development Corporation (HTDC)