The City and County of Honolulu’s Office of Economic Revitalization is launching a pilot program to help emerging entrepreneurs grow their businesses.
The 13-week cohort-style program, called Idea2Biz, is aimed at turning entrepreneurial ideas into viable businesses through mentorship, education and resources facilitated by business professionals, according to a news release.
“Small businesses are truly the heart of our community, creating new jobs while adding to Honolulu’s unique character,” said Honolulu Mayor Rick Blangiardi in a statement. “This program is creating pathways to keep more local families on Oahu by supporting homegrown talent and providing the tools to build a successful business.”
The Office of Economic Revitalization said they are especially interested in recruiting applications from Oahu’s Waianae Coast.
"By providing comprehensive support to individuals with business ideas or informal side hustles, we're creating pathways to sustainable entrepreneurship for those who have historically faced barriers to entry,” said Amy Asselbaye, Executive Director of the Office of Economic Revitalization.
Idea2Biz will hold in-person professional development workshops on Tuesday at the Kalanihoʻokahā Community Learning Center in Nānākuli. In order to allow working residents to participate, all classes will take place in the evenings.
The program will run from June 17 to Sept. 13.
Idea2Biz will accept 20 applicants, each of whom will receive:
- Specialized weekly training sessions covering entrepreneurship fundamentals, business model development, marketing, legal structure and financial planning
- Personalized mentorship from small business experts
- Access to the OER's Oahu Business Connector network and resource partners
- Guidance on formal business registration, banking relationships and market positioning
- Eligibility to receive at least $1,250 in early-stage funding upon the program's completion
OER encouraged the following people to apply: local entrepreneurs with business ideas who are seeking to develop them into a small business, hobbyists generating little to no revenue who have a desire to formalize their businesses, and community members who live along the Waianae Coast.
"This program addresses a critical gap in our entrepreneurial ecosystem by focusing on the very earliest stages of business development," said Eliza Talbot, OER Commission Chair.
Idea2Biz partners include the Waianae Economic Development Council, Patsy T. Mink Center for Business & Leadership, XLR8, Native Hawaiian Chamber of Commerce, Council for Native Hawaiian Advancement, Hawaii USA Federal Credit Union, and Pakini Loan Fund.
The application period for Idea2Biz will be open from May 1 to June 2.
To apply online, click here.