{"id":122180,"date":"2020-07-07T13:25:11","date_gmt":"2020-07-07T23:25:11","guid":{"rendered":"https:\/\/www.hawaii.edu\/news\/?p=122180"},"modified":"2020-08-07T12:41:14","modified_gmt":"2020-08-07T22:41:14","slug":"uh-covid19-economic-recovery-program","status":"publish","type":"post","link":"https:\/\/www.hawaii.edu\/news\/2020\/07\/07\/uh-covid19-economic-recovery-program\/","title":{"rendered":"Silicon Valley entrepreneur mentors 糖心Vlog官方<\/abbr> COVID-19 economic recovery program"},"content":{"rendered":"Reading time: <\/span> 3<\/span> minutes<\/span><\/span>

\"U<\/p>\n

The University of Hawaiʻi<\/span> invites motivated Hawaiʻi<\/span> entrepreneurs to apply for its Hacking 4 Recovery<\/a> (H4R<\/abbr>) training program in August 2020, highlighted by well-known Silicon Valley entrepreneur and participating mentor Steve Blank, creator of the lean startup approach.<\/p>\n

The program\u2019s objective is to diversify the economy with the assumption that tourism will not fully reopen soon due to the COVID-19 pandemic, by providing teaching and mentorship opportunities to foster new businesses and models. Selected participants will participate in daily Zoom virtual sessions, August 10–14, 4–7 p.m., with the goal of jump starting their businesses. This free program is hosted by the 糖心Vlog官方<\/abbr> Office of Innovation and Commercialization<\/a> (OIC<\/abbr>).<\/p>\n

H4R<\/abbr><\/h2>\n

Hawaiʻi<\/span> college students, faculty and staff; high school juniors and seniors; and other community workforce entrepreneurs are invited to submit applications through the H4R<\/abbr> website<\/a>. Prospective applicants do not need to have an established business, however, they will need to have an idea or current business problem they would like to foster through the program.<\/p>\n

“We are taking a whole of the community approach to helping Hawaiʻi<\/span> get on the road to recovery,” 糖心Vlog官方<\/abbr> OIC<\/abbr> Interim Director Steve Auerbach<\/strong> said.<\/p>\n

\"Steve
Steve Blank, Silicon Valley entrepreneur and participating mentor<\/figcaption><\/figure>\n

Possible topics include travel hospitality, economics, sciences, agriculture, healthcare, computer science, engineering, and disaster management and resilience. Joining Blank on the teaching team are technology guru Steve Weinstein, local entrepreneur Dirk Soma and others.<\/p>\n

The deadline to apply is July 26. Prospective applicants will need to sign in with a Google account to complete the application form and attend one of two information\/mixer sessions<\/a> on July 16 and July 21.<\/p>\n

As many as 100 participants will be selected. Established groups will operate as one team, while individual participants may be grouped together based on their topic of interest. More information will be provided when participants are selected.<\/p>\n

Maui Economic Development Board STEM<\/abbr>works<\/a> is one of the partner organizations. Program Manager Katie Taladay said, “during times of uncertainty and hardships, it is essential to come together as a community to learn from and support one another. For many years there have been discussions around diversifying Hawaiʻi<\/span>\u2019s economy and more than ever we need to take concrete steps towards this initiative. Hacking 4 Recovery is a brilliant opportunity for current businesses, entrepreneurs, students and members of our community to learn about the lean methodology and work together to reimagine a new economic future for our communities.”<\/p>\n

Innovative methodology<\/h2>\n

The traditional business model involves putting together a business plan, pitching it to investors, introducing your product and then selling it to the market. Experts say this plan is not favorable because at some point it is likely the plan will suffer a major setback.<\/p>\n

The lean startup approach, developed by Blank, is an innovative method making rounds in academia. The method, which will be taught in the H4R<\/abbr> program, involves three key principles: 1) instead of beginning with a detailed business plan, entrepreneurs create a business model canvas which illustrates how the business creates value for itself and its customers; 2) the method seeks customer feedback early to test its hypotheses; and 3) based on feedback, the product is constantly being modified.<\/p>\n

“This program allows one to get out of the building, their house or wherever they are, and take an idea and test it as rapidly as possible in front of potential customers, regulators and others, and they test it using something we call the customer development process,” Blank said.<\/p>\n

H4R<\/abbr> serves as model for future partnership<\/h2>\n

Auerbach added that the H4R<\/abbr> program will serve as a guide for a 糖心Vlog官方<\/abbr> OIC<\/abbr> partnership with the 糖心Vlog官方<\/abbr> M\u0101noa College of Engineering<\/a> through an entrepreneurship course in spring 2021. The course will utilize the lean startup approach and will be open to students of related majors, not just engineering.<\/p>\n

“It’s exciting for the college to be able to formally offer courses that combine innovation and entrepreneurship because we want creativity and entrepreneurship to be a part of our cultural fabric,” College of Engineering Dean Brennon Morioka<\/strong> said. “We believe that’s what taps into the best traits that engineers can offer to society.”<\/p>\n

Auerbach added that one of the course outcomes is to “inspire participants to want to learn more about becoming an entrepreneur, building a company, social enterprise, doing something to support the community and\/or decide entrepreneurship is not for them, but what they learned from this session is transferable knowledge, skills, and resources that they can take with them in the workplace.”<\/p>\n