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Hawaii Technology Development Corporation
HTDC is a dynamic state agency responsible for diversifying Hawaii's economy by developing a flourishing technology industry that provides quality, high-paying...
Hawaii Technology Development Corporation
HTDC is a dynamic state agency responsible for diversifying Hawaii's economy by developing a flourishing technology industry that provides quality, high-paying jobs for Hawaii residents. HTDC aims to accelerate the growth of Hawaii's technology industry by providing capital, building infrastructure and developing talent to foster innovation. HTDC is attached to the Department of Business, Economic Development and Tourism (DBEDT). Created in 1983, the Hawaii Technology Development Corporation, is the state’s economic development agency focused on developing the technology sector. Since its inception, technology has evolved and permeated facets of all industries. HTDC continues to innovate and create programs relevant to meet the changing technology industry. In addition to providing incubation facilities to foster the growth of technology startups, HTDC has grant programs, educational and networking programs, statewide mentoring and technology workforce development. Core Initiatives: - incubation services and developing new facilities to foster innovation - business development services and manufacturing assistance to all islands - workshops and networking for start-ups, and small businesses in the technology and manufacturing sectors - matching grants in support of technology research and organizations that support the tech ecosystem - interfacing with technology employers and trainers to develop a skilled workforce to support the technology sector - Research in energy technology such as hydrogen, to support the national and state needs
General information
Firm type
State Development Fund
Year founded
1983
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Honolulu
Corporate office
Honolulu, HI, United States
Principals
Robbie Melton
Executive Director
Gregory Barbour
Board Chair
Sector focus
Frequently asked questions
How does HTDC differ from a traditional venture capital firm?
HTDC is a state agency funded by legislative appropriation, not limited partner capital. It awards matching grants rather than taking equity, specifically to companies that commercialize federally funded research. Its mandate includes operating technology parks and business incubators in addition to its investment programs (per the firm's official communications).
What types of companies qualify for HTDC's HSBIR Matching Grant?
Hawaii-based companies that have already secured Phase I, Phase II, or Phase III federal Small Business Innovation Research or Small Business Technology Transfer awards. Qualifying sectors include aerospace, ocean science, renewable energy, dual-use defense technology, and life sciences. Non-resident firms can become eligible by establishing a significant operating presence or research partnership in Hawaii.
Does HTDC take equity positions alongside its grant programs?
HTDC does not typically take direct equity stakes. Its primary deployment mechanism is the matching grant structure, which provides non-dilutive funding to technology companies. However, the agency operates as a connector to Hawaii-based angel networks and private funds that do pursue equity investments.
What is HTDC's relationship with the U.S. Department of Defense?
HTDC actively supports Hawaii's growing dual-use technology sector, partly through its HSBIR Matching Grant program and partly through its INNOVATE Hawaii manufacturing-extension partnership. Hawaii's deep-water test ranges, including the Pacific Missile Range Facility on Kauai, make the state a natural hub for defense-tech prototyping, and HTDC facilitates the local commercial ecosystem that bridges academic research and Pentagon procurement.
Can non-Hawaii based startups access HTDC programs?
Yes, through HTDC's soft-landing program and through its recently expanded Digital Sandbox initiative. Foreign and mainland companies can access temporary office space, business introductions, and pilot-partner matching in exchange for establishing a meaningful operational footprint. Several Japanese and Korean clean-energy firms have used this pathway to test renewable microgrids on Oahu before expanding into the wider U.S. market.
How is HTDC's budget appropriated and what is its scale?
HTDC is funded through biennial state legislative appropriations alongside revenue from its technology-park lease agreements. The agency does not disclose a traditional AUM figure. Its cumulative deployment exceeds $200 million into over 500 companies across four decades of operation, with annual grant distributions varying substantially depending on state budget allocations and the volume of federal SBIR awards flowing through Hawaii-based companies.
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