The team, whose company is called MicroNose Technology, received a $25,000 in cash for taking the top prize in the traditional category.

Other wiinners:

—Second place ($10,000) in the traditional category went to Akamai Diagnostics, a medical device development company, that designs and markets disease detection devices.

—Third place ($5,000) in the traditional category went to Aqua Pura for its system to eliminate groundwater pollution caused by organic compounds.

—First place ($20,000) in the social enterprise category went to Searider Productions Studios, a newly formed Hawai'i-based digital media production company that is leveraging the talents of award-winning teachers and alumni from the Searider Productions education program at Wai'anae High School with a proven track record of producing new and original, high quality electronic media products for the mid-level market in Hawai'i.

—First place ($1,000) in the undergraduate category went to Hilo-based Na Leo Softball Academy, which will provide one on one and group instructions to the young women of the Big Island.

New merchant bank opens in Honolulu

Sennet Capital, LLC, a merchant bank that provides advisory services and private equity financing for middle market and emerging growth companies, began operations yesterday in Honolulu.

Established by long-time Hawai'i executives John Bower, Kenton Eldridge and Richard Lim, Sennet will offer its portfolio companies capital sourcing, strategic planning, board participation and positioning for merger or acquisition.

Sennet Capital's initial clients include, PCLender, Atlantis Cyberspace, Kona Bay Marine Resources, Edutainment, America's Mattress and It's All About Kids.

Alexander & Baldwin boosts dividend to 25 cents a share

Alexander & Baldwin Inc. yesterday announced an increase in the second-quarter dividend to 25 cents a share from 22 1/2 cents a share to shareholders of record as of May 11.

Alexander & Baldwin shares closed today up 61 cents a share at $49.87.