Be an angel, boost Isle entrepreneurship

Rice-straw fiber building materials and biodegradable fishing nets might not seem sexy to your average venture capitalist. But such environmentally friendly innovations could succeed in the marketplace if they could only make the leap from business plan to operating company.

That's the big challenge for budding entrepreneurs at the University of Hawai'i College of Business Administration's Pacific Asian Center for Entrepreneurship and E-Business, which recently held its second annual business plan competition.

Last year's winning team impressed with a plan to manufacture rice-straw fiber building material, but has so far been unable to raise enough money to launch the dream. Enter Rob Robinson, a former Harvard business professor and investment guru. He's the new head of the UH Pacific Asian Center for Entrepreneurship and E-Business. His mission is to improve the business climate in Hawai'i via "angel investors," wealthy people who give seed money to startup companies.

We hope Robinson succeeds because angels are what the Islands need to get out of the economic doldrums. As the world's most isolated archipelago, Hawai'i has to be more self-sufficient and innovative, which entails taking risks. Just because we missed out on the dot-com gold rush doesn't mean we can't now foster a high-tech industry, especially with the perk of high-tech tax credits.