University of Hawaiʻi Maui College’s Maui Food Innovation Center (MFIC’s) was one of the winners of the 2016 U.S. Small Business Administration (SBA) 2016 Growth Accelerator Fund Competition. The Maui Food Innovation Center was awarded a $50,000 grant for pioneering and supporting local entrepreneurs. The Maui Food Industry X-celerator (MFIX) was a recipient of this same SBA grant in 2015.
“Winning the SBA Accelerator award for the second year in a row is a validation of Maui Food Innovation Center business mentoring program,” said Karl Fooks, president of the Hawaiʻi Strategic Development Corporation. “HSDC’s HI Growth Initiative is proud to help support MFIC’s efforts to help Hawaiʻi entrepreneurs achieve business success
The grant is part of the SBA 2016 Growth Accelerator Fund Competition, a cutting-edge federal program that supports initiatives to spur innovation, commercialization, entrepreneurship and job creation at the local level. The Maui Food Innovation Center is 1 of 68 awardees from 32 states to receive grants totaling $3.4 million dollars.
Funding will expand X-celerator program
The funding will enable the Maui Food Industry X-celerator to introduce its accelerator program to those agribusinesses, chefs and restauranteurs looking to develop a value-added food product. They will connect with food business industry experts and peers like themselves seeking to expand their revenue streams.
“The opportunity to expand our x-celerator program to this segment of the County of Maui community validates our work to advance our farmers/chefs and food entrepreneurs and our economy by building upon new revenue sources and creating more jobs,” said UH Maui College Chancellor Lui Hokoana.
For more, read the UH Maui College news release.