UH Accelerator Awarded $500K to Expand Statewide Outreach

University of Hawaiʻi
Vassilis L. Syrmos, (808) 956-5006
Vice President for Research and Innovation
Eric R. Matsunaga, (808) 956-5588
Director, Research and Administrative Operations
Posted: Feb 17, 2016

The University of Hawai‘i’s proof of concept center/venture accelerator XLR8UH was recently awarded a $500,000 grant from the Economic Development Administration (EDA) to expand its successful commercialization efforts statewide, including underserved rural communities on the neighbor islands.

The grant is part of the EDA’s 2015 Regional Innovation Strategies Program, a cutting-edge federal program that supports initiatives to spur innovation commercialization, entrepreneurship and job creation at the local level.  XLR8UH is one of just 17 i6 Challenge awardees to receive grants totaling $8 million. The funding will enable XLR8UH to introduce new activities utilizing regionally developed intellectual property, entrepreneurs and startups.

“We are pleased that the EDA recognized the value and promise of our XLR8UH program,” said Vassilis L. Syrmos, UH vice president for research and innovation. “The University of Hawai‘i will be matching the EDA award to amplify even more of XLR8UH’s reach in extending our research innovation and commercialization efforts across the state.”

For more on this story see: http://www.hawaii.edu/news/2016/02/17/uh-accelerator-awarded-500000-to-expand-statewide-outreach/

About XLR8UH

Is a first of its kind Proof of Concept Center and Venture Accelerator.  The program, a partnership between the University of Hawai‘i and Sultan Ventures, educates, mentors and invests in the University of Hawai‘i's research and talent, ranging from students to post docs, faculty and even alumni. XLR8UH is one of the first public university investment programs in the nation, revolutionizing the way innovation is commercialized at universities. http://www.xlr8uh.com/

About UH Research

Research conducted by the University of Hawai‘i (UH) impacts the quality of life in the islands and around the world. As the state’s major research university, and because of Hawai‘i’s tremendous geographic diversity, UH plays a prominent role in the state’s economic growth and development through its diverse and world-renowned research programs in astronomy, earth and ocean sciences, medicine and tropical agriculture. http://www.hawaii.edu/research/

About Sultan Ventures
Sultan Ventures (SV) is a boutique venture firm focusing on early-stage startups and investments. As a startup catalyst, SV provides pivotal resources via its powerful network of experts and investors. SV works closely with innovative startups, providing the hands-on expertise and access to capital needed to accelerate growth, as well as with investors, performing the diligence necessary to make strategic investment decisions. http://sultanventures.com/

About the Hawai‘i Innovation Initiative

The University of Hawai‘i is working in partnership with the private sector and government to build a thriving innovation, research, education and training enterprise in Hawai‘i that will develop a third major economic sector for the state, create high-quality living-wage jobs, and address the challenges and opportunities faced by Hawai‘i and the world. http://www.hawaii.edu/innovation/