Jan 28, 2016 | Environment, Events, Small Business, Sustainability
The Mayor’s Office of Economic Development, Maui County and Maui Economic Development Board (MEDB) are hosting the third annual Maui Energy Conference, March 16-18 2016 at the Maui Arts & Cultural Center. Energy experts and stakeholders from across the U.S. and Hawaii will meet to learn about the latest advances in clean energy and how Hawaii plans to achieve the new 100% RPS (Renewable Portfolio Standard) target. On June 8th 2015, Hawaii updated legislation setting the 100% renewable portfolio standard by 2045. The standards are state and local policies that mandate all or certain types of electricity producers to supply a minimum share of their electricity from designated renewable resources. Hawaii has met its annual RPS requirements to date.
Frank De Rego, Jr. Director of Business Development Projects, Maui Economic Development Board, Inc.
“The 2016 Maui Energy Conference will bring together some of the best minds in the energy sector from Maui County, the state, and the nation,” said Frank De Rego, Jr., MEDB Director of Business Development Projects and member of the conference program committee. “The focus of discussion will be Hawaii Clean Energy Initiative’s 100% RPS and its implications for Hawaii’s energy future. The strengths of the conference over the years have been the high quality of its speakers and panelists, the ample time to network and the availability of the panel sessions to the general public at the conclusion of the conference on the conference website.”
The Conference will seek consensus about realistic targets and goals, the readiness of the utilities to reach them and how much this will really cost. Other issues include how to mitigate disruptions of energy supply and price when transitioning from carbon based fuels to renewables and the importance of a diversified portfolio. Looking at all the other questions: How; Where; Why; and Who Pays are just a few of the obvious issues. “Within ‘how’ and ‘why’ are important sub-questions about fairness and respect for Hawaiian culture and the environment,” said Program committee chair, Doug McLeod, DKK Energy Services. “In addition, the County of Maui’s energy consultant Guernsey has been invited to present their recommendation with regard to ownership of the electric utility on Maui.”
An early-bird registration rate of $395 for the Maui Energy Conference is available through January 31st — a discount of $100. Details on this year’s program are available at the Conference website, MauiEnergyConference.com
Frank De Rego, Jr. Director of Business Development Projects, Maui Economic Development Board, Inc.
Jan 14, 2016 | Small Business
Maui Makers, a 501(c)(3) nonprofit, is based on the belief that by working together we can prove that Hawai’i’s future is really what we “make of it.” Organized in 2010 by Haiku resident, Jerry Isdale, this unique group provides the venue, knowledge, and atmosphere to help people create their dreams. “Through educational outreach in the community, Maui Makers has inspired community members to be makers of things, not just consumers of things,” said Isdale. “There are very talented people on Maui. Naturally, these people need a dynamic workspace with access to collaboration and encouragement from others. In addition, participants have access to 21st century tools, fabrication processes and materials otherwise unaffordable or unattainable.”
Maui Makers holds public meetings, classes and a variety of workshops to create and construct things. They establish focus groups centered on various technologies and interests. The Arduino Innovation Group was the first of these to gain a following. Arduino is the name of an open-source electronics platform and the software used to program it. “It is designed to make electronics more accessible to artists, designers, hobbyists and anyone interested in creating interactive objects or environments,” said Workshop Instructor Laura Ulibarri. “My interest and connection to Maui Makers is through using open-source software and hardware to build a culture of innovation on Maui. There is a huge opportunity to start a company, get a business up and rolling and learn from others.” Makers encourages people to become entrepreneurs and to pursue careers in design, advanced manufacturing, or the related fields of science, technology, engineering and mathematics (STEM).
Maui Makers also offers engineering design projects for teachers and students as well as community members. They often partner with Maui Economic Development Board (MEDB) to provide resources and support for improving STEM education in Maui County and beyond. “Like MEDB, we want to provide STEM learning opportunities that contribute to Hawai’i’s future viability,” Ulibarri said.
I think we’re on the brink of another revolution, this time favoring craftsmen and makers.
Laura Ulibarri, Maui Makers Workshop Instructor
Dec 10, 2015 | Education, Small Business
Maui Economic Development Board (MEDB) was the local host for the 2016 InnovateHER “Innovating for Business Challenge.” The U.S. Small Business Administration (SBA) launched the nationwide InnovateHER Challenge in August 2015, with the goal of finding products and services that help empower the lives of women and families. This past November, ten Maui finalists proved once again that Maui is a launching pad for empowering entrepreneurs. Each gave a five-minute pitch for their product or service to a panel of judges. The judges took into account criteria such as whether the proposal had a measurable improvement in the lives of community members, potential for commercialization and filled a need in the marketplace.
In a close competition, Pamela Norris of Wailuku was named the Maui winner. Norris won for her product, the ICEBUDDY System, a portable cooling system that utilizes new technology to transport medicine, water and supplies for emergencies. “My lifetime has been spent trying to make a positive difference in the world,” said Norris. “That journey has taken me from teaching everything from the pre-school level to post-graduate, training security and law enforcement officers and directing mental health services. Now this experience has brought me to a point where I choose to focus my talents on developing revolutionary products that serve unmet needs.”
As the Maui winner, Norris took home a cash award from MEDB. She will also have the opportunity to be considered for SBA’s national competition which will be held in Washington D.C. in March 2016 as part of a larger Women’s Summit. If selected, she will compete against other finalists nationwide and have an opportunity to pitch her idea to a panel of expert judges drawn from the private sector. Three winners will be chosen and awarded up to $70,000 in cash prizes.
“I hope SBA continues to grow this competition,” said Gerry Smith, MEDB Director of Business Development. “Not only will programs such as these help women break through that glass ceiling in terms of business and entrepreneurship, but also will provide opportunities to help empower women and families and ultimately help to build communities.”
My winning venture, the ICEBUDDY system, is a portable cooling system that enables ice, water, medication and emergency supplies to be stored and transported easily.
Pamela Norris
Nov 5, 2015 | Education, Small Business
A recent seminar presented by Maui Economic Development Board’s (MEDB’s) Technical Assistance Workshop Series provided a hands-on look at apps available from the U.S. Census Bureau to give small businesses and startups the edge in exploring the demographics of potential markets. Jerry Wong, Data Dissemination Specialist for the Census Bureau’s Los Angeles Region, explained that census data allows business owners to research how to start or expand a business. “My intent is to inform individuals here on Maui, particularly entrepreneurs and company representatives, about the new tools that will assist them in the analysis of locations on Maui for business opportunities through looking at the census data for those specific areas,” said Wong. “This training applies to market research, community analysis and planning, grant proposals and general decision-making, all of which involve the use of statistical information.”
“The purpose of this seminar was to add another tool to each participant’s business toolkit,” said Frank De Rego, Jr., Director of Businesss Development Projects at MEDB. “The two new apps created by the U.S. Census Bureau, Census Business Builder and On the Map, along with Knight Ridder’s Census Reporter, now make accessing census data more user-friendly. As these tools are expanded and improved, they will be invaluable for strategic business planning,” said De Rego.
“We recently opened our first gallery here on Maui,” said Lisa Marie Corcoran of National Geographic Fine Arts Galleries in Wailea. “I very much appreciate this great opportunity to learn how to use census data to benefit our customers and community. Specifically, we are very interested in capabilities for exploring the demographics and socioeconomic characteristics of potential markets on-island,” she explained. “While we estimate 80 percent of our market to be tourist-driven, we want to better understand the community we operate in. MEDB and the Visitor Bureau also do a great job of publishing current and historical demographic data.”
Oct 21, 2015 | Small Business
Do you need capital to grow your company and achieve success?
Come learn from experts in the venture capital industry about how to attract needed venture capital to expand and grow your business. The focus of discussion will be on Silicon Valley-style venture funds. You will gain insights into what venture funds expect in an investment; what motivates them internally and externally; how to secure a meeting with a venture fund; how to prepare for a meeting with a venture fund; and how to structure your company to attract venture capital.
What you will learn
- What is venture capital?
- Why should I seek venture capital?
- How does venture capital work?
- How do I raise venture capital?
- How do I prepare my company for venture capital?
- What are other benefits of having a venture fund invest in my company?
- How do I connect with venture funds?
- What types of returns do their investors expect?
- What type of business models attract venture capital?
- How do I value my company?
- What are the pros and cons for Hawaii companies?
- How do I know that I’m getting a fair deal?
- How do I select a venture capital firm?
The workshop will be Thursday, September 24, 2015, from 9:30 am to 2:15 pm at MEDB’s Malcolm Center, 1305 N. Holopono St. in Kihei. Cost of the workshop is $20. Lunch will be provided. Space is limited, and reservations are required. Click here to register: https://hightechmaui.com/confregister/form-venturecapital.cfm
For more information, contact: Frank De Rego, Jr. MEDB Director of Business Development Projects, frank@medb.org, (808)270-6807.
Oct 14, 2015 | Small Business
By popular demand, Maui Economic Development Board (MEDB) offered two days of the workshop “Minding Your Own Business: Entrepreneurial Psychology Basics and You.” The workshop, part of MEDB’s Technical Assistance Series, is a grassroots effort to help small businesses establish strong systems, processes, tools and best practices to build a solid foundation for success. The Psychology Basics workshop, led by psychologist Dr. Jennifer Johnston-Jones, helped attendees explore their own personal approach to business creation through the double lens of neuroscience and psychology. Through hands-on interactive activities, participants rediscovered their strength, perseverance, and creativity by overcoming perceived limits, and then applied these hard-won lessons in building their businesses.
“During this seminar, attendees experienced live coaching and personalized attention, increased self-awareness, authentic networking, community-building, a possible breakthrough, and laughter and fun,” said Frank De Rego Jr., director of Business Development Projects at MEDB. “We encouraged all entrepreneurs to attend and learn from Dr. Johnston-Jones about how they can realize their potential.”
Dr. Johnston-Jones is an internationally acclaimed speaker, psychologist, executive coach and expert in the psychology of success. She is the founder and CEO of EntrepreneurShift, an app and live-event program which shifts the paradigm from a wealth-based model of success to authentic success via modern neuroscience. “I teach people actionable life-changing steps that accelerate their path toward financial freedom paired with purpose and joy,” said Dr. Johnston-Jones. “With every level of success there is another level of success just beyond the horizon that requires thought, decisions and actions that a coach can help you accelerate or think through.”
“As a business owner, I’m focused and motivated, but I don’t always make time for strategic thinking because I’m busy serving clients and running the business,” said workshop participant Dr. Steven King. “It’s imperative that we learn how to work with the community. Psychological relations have to be understood and this workshop helped me think more strategically about that aspect. It was invaluable!”
Jul 22, 2015 | Small Business
When it comes to understanding one’s financials all types of businesses could use a boost. Such was the overwhelming sentiment by those who recently attended MEDB’s Technical Assistance Series workshop, “Boosting Your Financial IQ,” on Wednesday, July 15th.
Held at the MEDB Malcolm Center in Kihei, over 30 people attended the workshop led by accounting experts from Personal Accountant Inc. – CEO/Founder Lisa Wells, President Anastasia Winslow, and Associate in the Accounting/GE Tax Department Chelsea Smith.
While various industries were represented ranging from agriculture, construction, finance, and hospitality to information services, manufacturing, retail, science/technology services – they all shared a common goal: to learn more about how they can improve their businesses’ efficiency, promote good accounting practices, and ultimately save on their taxes.
“When you work for someone, your financials are done for you,” said Cecelia Hercik, Managing Director of Olavine Spa & Salon in Wailea Gateway Center. “But when you own your own business, you have to create your own accounts and understand what really makes financial sense.”
In addition to covering a variety of financial topics, the workshop also provided an opportunity for attendees to network with each other and to meet with the accounting experts on their own company’s accounting books, financial statements, and business setup.
MEDB’s Technical Assistance Series: Foundations for Business Success was created in an effort to help small businesses establish strong systems, processes, tools, and best practices to build a solid foundation for success.
“It is essential for any business to have a solid plan rooted in sound principles and practice to be competitive,” said Frank De Rego Jr., Director of Business Development Projects at Maui Economic Development Board. “The accounting seminar and the other workshops in the series can help businesses build their human capital in knowledge and skills, thus improving services and systems while giving team members more time to focus on growth strategies and customer care. Ultimately, these strategies will help businesses succeed.”
The “Boosting Your Financial IQ” workshop was sponsored by the County of Maui, Maui Economic Development Board, and Personal Accountant Inc.
The next MEDB Technical Assistance Series workshop, “Minding Your Own Business: Entrepreneurial Psychology Basics and You,” will be held on Tuesday, August 4th. Led by prominent entrepreneurial psychologist Dr. Jennifer Johnston-Jones, attendees will be guided through steps to rediscover their own strength, perseverance, and creativity by overcoming perceived limits then applying those hard won lessons in building their business.
For more information and to register online, visit www.medb.org/minding-your-own-business or contact Frank De Rego Jr. at MEDB: email frank@medb.org or call (808) 270-6807.
Jul 8, 2015 | Small Business
Receive invaluable advice from accounting experts on how to improve your business’s efficiency, promote good accounting practices, and ultimately save on your taxes.
Wednesday, July 15, 2015, 9:30 am – 2 pm
MEDB’s Malcolm Center, 1305 N. Holopono St., Ste. #5 Kihei, HI 96753
Admission is $20 • Lunch will be provided • Reservation required • Space is limited
Register online • Full details
May 20, 2015 | Small Business
Website consultant David Fry’s idea to create an online voting system for nonprofit leaders took home the top prize at the 2015 Startup Weekend Maui. Fry said he and his team from Board.Vote created the beginnings of a viable prototype in less than 54 hours by listening to many tips including those from Startup Weekend facilitator Bryan “Boots” Butteling.
These tips include identifying a solution to a problem; being flexible and adaptable (“pivot and repeat”); and creating a revenue model. Close to 80 residents and visitors attended Startup Weekend Maui, presented by the Maui Economic Development Board. Aspiring entrepreneurs pitched ideas ranging from a stock market game to science education, to Maui-made pickles and a marketplace to help struggling Hana artists and vendors. “All of these could make good businesses on Maui,” Fry said. “We were really just grateful to be selected.”
Board.Vote would feature a Web application that provides greater efficiency in board deliberations and voting. In its research, Board.Vote’s team interviewed 15 local nonprofit leaders and 42.9 percent said they would recommend purchasing the Web app to their board. During his presentation, Fry outlined plans to charge monthly fees for the Web application. After hearing from the judges, Fry said he’s seriously considering charging a yearly fee for Board.Vote. “It was a great suggestion,” Fry said. The next steps for Board.Vote will be to develop the Web application, including a security piece and securing sources of financing. Aside from revenue model, judges recommended entrepreneurs conduct more research into customer validation and product viability. “Everybody had a good idea and there were lots of pros and cons,” Judge Tarik Sultan told the participants. This year’s Startup Weekend converged May 15-17 at MEDB’s Malcolm Center and the Maui Research & Technology Center. Fry said he thought MEDB did a “great” job of coordinating the event and suggested that the participants be invited back for a reunion.
