Hoku Scientific Funds Entrepreneurial Loan Program at UH Mānoa

Over $130,000 will be made available to UH Mānoa students starting this fall

University of Hawaiʻi at Mānoa
Contact:
Dolly Omiya, (808) 956-6902
Shidler College of Business
Margot Schrire, (808) 956-6774
UH Foundation
Posted: Sep 8, 2009

Hoku Scientific gift signing
Hoku Scientific gift signing
The University of Hawai‘i at Mānoa Shidler College of Business and College of Engineering are working together to implement the Hoku Scientific Microloan program to support aspiring young entrepreneurs. Hoku Scientific, Inc. and its Chairman, President and CEO Dustin Shindo donated over $130,000 to establish the Microloan Fund that will be administered by the Pacific Asian Center for Entrepreneurship (PACE) at the Shidler College of Business, UH Mānoa.
 
“We are honored to have had the opportunity to create the Microloan Fund at UH Mānoa. These loans will provide students – Hawai‘i’s future entrepreneurs – with resources to launch their own business ventures, as well as provide them with valuable mentoring and professional development opportunities,” said Dustin Shindo, president and CEO of Hoku. “We are hopeful that this program will encourage student innovation by strengthening the links between engineering and entrepreneurship, two disciplines Hoku strongly supports.”
 
In 2005, Hoku Scientific donated warrants for Hoku shares that were sold by UH Foundation after the Company’s IPO for proceeds in excess of $130,000. These funds were used to establish the Microloan Fund. Up to $20,000 per semester, ranging from $500 to $5,000 loans, will be awarded to students enrolled at UH Mānoa to start their businesses. To receive a loan, students must submit an application, attend a workshop and prepare a business plan. Loans must be used for working capital, supplies, equipment and inventory. Priority will be given to undergraduate students enrolled in the engineering and entrepreneurship degree programs.
 
“We’re excited to have this unique funding mechanism which will spark students’ interest in entrepreneurship, especially in engineering students,” said Peter E. Crouch, dean of the College of Engineering. “This fund enables them to take the next step in becoming an entrepreneur. This is a great opportunity for our students and we look forward to working with the Shidler College on this and similar ventures.”
 
“We are grateful to Dustin Shindo and Hoku Scientific for their generous gift to encourage entrepreneurial ventures at UH Mānoa,” commented V. Vance Roley, dean of the Shidler College of Business. “Our goal is to provide students with relevant entrepreneurship courses combined with real-life experiences so students can develop the skills and knowledge to start their own businesses. We want to encourage students to embrace new business opportunities and this is a perfect way to do this.”
 
Co-founded by Dustin Shindo in 2001, Hoku Scientific is a diversified clean energy technologies company with three business units: Hoku Materials, Hoku Solar and Hoku Fuel Cells. The company is known for its environmentally friendly hydrogen fuel cells and is devoted to sustainable, clean energy. Hoku Scientific is one of Hawai‘i’s most promising technology startups companies in recent years. Today, Hoku Scientific is a multi-million dollar corporation, publicly traded on the Nasdaq exchange under HOKU.
Shindo graduated from Waiakea High School on the Island of Hawai‘i in 1991.  He received a BA in business from the University of Washington in 1995 and earned his MBA from the Darden Business School at the University of Virginia.
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About Hoku Scientific, Inc.
Hoku Scientific (NASDAQ: HOKU) is a diversified clean energy technologies company with three business units: Hoku Materials, Hoku Solar and Hoku Fuel Cells. Hoku Materials plans to manufacture, market, and sell polysilicon for the solar market from its plant currently under construction in Pocatello, Idaho. Hoku Solar markets, sells, and installs turnkey photovoltaic systems in Hawaiʻi. Hoku Fuel Cells has developed proprietary fuel cell membranes and membrane electrode assemblies for stationary and automotive proton exchange membrane fuel cells. For more information visit www.hokucorp.com.
 
The University of Hawai`i at Mānoa College of Engineering has launched thousands of successful careers in Hawai`i and throughout the world. Graduates occupy key roles with engineering firms, government agencies, defense contractors, and as entrepreneurs.  Many of its 9000 alumni have made significant engineering contributions to the state’s infrastructure and are now set on accomplishing similar tasks abroad.  The College’s respect for the Hawaiian culture is reflected in its successful mentoring program for under-represented science and engineering students. As the College celebrates 100 years of engineering education at Mānoa, it is focused on becoming a major contributor to Hawai`i’s renewable energy and sustainable future.
The Shidler College of Business at the University of Hawai‘i at Mānoa
Established in 1949 as the College of Business Administration, the College was named in 2006 after alumnus Jay H. Shidler, founder and managing partner of The Shidler Group. The Shidler College of Business is renowned for its expertise in international management education and is ranked among the nation's top 25 graduate schools for international business by U.S.News & World Report in 2010. Long recognized for its Asia-Pacific focus, the College is a professional school, offering a wide variety of degree, certificate and executive programs. The UH Shidler College of Business is the only graduate program in the State of Hawai‘i accredited by AACSB International. For more information, visit www.shidler.hawaii.edu.
The University of Hawai‘i Foundation, a nonprofit organization, raises private funds to support the University of Hawai‘i System. Our mission is to unite our donors’ passions with the University of Hawai‘i's aspirations to benefit the people of Hawai‘i and beyond. We do this by raising private philanthropic support, managing private investments and nurturing donor and alumni relationships. Please visit www.uhf. hawaii.edu.