The public is invited to a launch event today to learn more about the Hawaii Island Business Plan Competition, an islandwide contest designed to help small businesses get started and/or grow.
HIplan, now in its second year, is seeking budding entrepreneurs, small-business owners, groups and individuals to enter business plans focused on developing or expanding their isle-based enterprise. The winning plan gets $25,000 in seed money.
The competition is co-hosted by the University of Hawaii at Hilo and the Natural Energy Lab in Kailua-Kona. It’s sponsored by the Hawaii Island Chamber of Commerce.
The contest ultimately aims to build an ecosystem for entrepreneurs on the Big Island, said aquaculture entrepreneur and contest co-chairman Jim Wyban, adding the island is “tremendously resource-rich” with a “developing tourism industry.”
“The combination of those resources is a very nice, fertile situation for entrepreneurs,” Wyban said. “We have the astronomy sector at UH and on top of the mountain. We have a natural energy lab over in Kona and a world-premiere aquaculture marine facility … so there are a lot of things going on on the Big Island that are very interesting and there’s enough of a market here to support small businesses, too. We have the resource space and sufficient business development space. So there are a lot of opportunities.”
The contest received 49 entries last year, Wyban said, and he’s hoping to see that number double this year. Those who competed last year also can re-enter, he said.
Last year’s winners were Wendy and Chris Klepps of Kalapana-based Ono Queens LLC. The Klepps used their prize money to purchase more hives and expand, according to a video about the Klepps posted on HIplan’s website.
Contest submissions are accepted through Sept. 10. Those selected to advance will be asked to present to judges Oct. 14 at NELHA. Finalists will compete in a final round Nov. 4 and give two-minute elevator pitches to judges.
The contest added a special category this year for the best business plan crafted by UH-Hilo and Hawaii Community College students.
Today’s event will feature a rundown of the contest as well as a panel discussion with three Hilo entrepreneurs: Jesse Fujimoto of Hawaii Simple Gourmet Co., George Hanohano of Rainbow Falls Connection and Candace Fukuda-Hanle of Kandi’s Drive Inn and Fukuda Washerette.
The launch event is from 5:30-7 p.m. in University Classroom Building 127 at UH-Hilo. It also will be live-streamed. A second launch event is scheduled for 5:30-7 p.m. Friday at Hawaii Community College’s Palamanui campus in Kailua-Kona. The Kona event will feature a talk from chef-entrepreneur Sam Choy.
More information about the contest can be found at www.hiplan.biz.
Email Kirsten Johnson at kjohnson@hawaiitribune-herald.com.
