Updated at 4:31 p.m., Monday, February 19, 2007
HVCA to be briefed on Lingle's economic package
Advertiser Staff
Ted Liu, director of the state Department of Business, Economic Development and Tourism, will outline Gov. Linda Lingle's package of economic initiatives Thursday at a luncheon meeting of Hawaii Venture Capital Association.Included in the package are several measures that would provide funding for new technology companies. Hawai'i needs to bolster its ability to fund companies throughout the venture finance continuum, which starts with seed capital and moves through several stages, said Bill Spencer, HVCA president. The state also needs strong venture capital firms that understand the needs of local companies and can help them grow, Spencer added.
He said that in the past, companies in need of later-stage investment have turned to Mainland venture firms, which have required these companies to relocate, denying Hawai'i of the employment opportunities and tax revenue they generate.
The luncheon is set for 11:30 a.m. at the Plaza Club, 900 Fort St. To make a reservation, call Gail Caveney at 262-7329 or visit the HVCA Web site at www.hvca.org.
