4 companies get $248,310 in state grants
INNOVATE Hawaii, a program of the High Technology Development Corp., has awarded a total of $248,310 to four Hawaii companies as part of the Hawaii Small Business Innovation Research (SBIR) matching-grant program.
"The federal SBIR program has become a crucial source of funding for many of Hawaii’s small businesses, including some of our most successful technology companies," said HTDC Executive Director and CEO Robbie Melton. "So far, nearly 100 companies have received more than $98 million in federal SBIR funds. And, we have attracted more than $75 million in commercialization dollars to Hawaii."
The latest winning companies were:
» Kampachi Farms LLC, a marine fish aquaculture firm located in the Natural Energy Laboratory of Hawaii Authority in Kona, which received two federal SBIR phase one grants from the U.S. Department of Agriculture totaling $199,940. The firm was awarded $99,970 in Hawaii SBIR grant funds from HTDC.
» Pacific Rim Defense, a Honolulu-based company and first-time SBIR award winner, which was awarded $79,602 from the Naval Sea Systems Command to develop software that integrates total power usage information for ships. The company received $25,000 from HTDC.
» Oceanit, a Honolulu research and development firm, which was awarded $50,000 in matching grants for two Air Force phase one awards. The projects are an ice repellent coating technology for aircraft and a software platform for data integration for retina evaluation. Each project received $150,000 in federal phase one funding.
» TeraSys Technologies, a wireless interference analysis and custom mitigation company, which received $150,000 from the Army for wireless communications product development. It was awarded an additional $73,340 in Hawaii SBIR grant funds.
Domino’s unveils ‘Siri’ to take mobile orders
NEW YORK » Domino’s is introducing its own version of Siri. The pizza delivery chain Monday is introducing a function on its mobile app that lets customers place orders by speaking with a computer-generated voice named "Dom." The rollout is part of an ongoing push by Domino’s to take business away from rivals and smaller pizza shops by offering more convenient ways to order.
The company, based in Ann Arbor, Mich., says the updated app for iPhones and Android devices will deliver a "human-like, conversational" experience but that it will take some time to work out the kinks in the technology.
"It is not perfect," Domino’s CEO Patrick Doyle said in an interview. "This is the sort of thing, like any other really new technology launch, you’re going to learn, you’re going to get better."
Already, mobile and online ordering accounts for 40 percent of Domino’s U.S. sales.
IMF cuts estimate of U.S. economic growth
WASHINGTON » The U.S. economy is poised to accelerate after a dismal start to the year even though the job market won’t return to full employment until 2017.
That was the forecast offered Monday in a report by the International Monetary Fund.
The IMF noted that steady job gains and other recent data suggest that the economy is rebounding. Employers have added 200,000-plus jobs for four straight months, and the unemployment rate has fallen to 6.3 percent. Auto sales and factory activity are increasing.
Yet growth in 2014 won’t likely top last year’s lackluster performance, the IMF says. The Washington-based organization foresees the economy growing a modest 2 percent in 2014, below its previous estimate of 2.7 percent. That would be nearly identical to the 1.9 percent growth in 2013.
Medtronic to buy Irish medical-device firm
U.S. medical device manufacturer Medtronic has agreed to buy Irish-based competitor Covidien for $42.9 billion in cash and stock.
The combined company would have its executive offices in Dublin, where it could benefit from Ireland’s lower corporate tax rates. But the merged company would continue to operate in Minneapolis, where Medtronic employs more than 8,000, the companies said late Sunday in a statement.
Medtronic is paying a 29 percent premium on Covidien’s stock price as of Friday. The shares had closed at $72.02 on the New York Stock Exchange.
Mississippi suit alleges errors by Experian
WASHINGTON » Mississippi has sued Experian, the world’s largest firm that collects detailed information about consumers to evaluate their financial trustworthiness. The lawsuit — and a separate investigation of the industry by 32 other states led by Ohio — represents a significant new legal challenge to the industry over allegations of paperwork errors and violations of consumer protection laws.
Errors can jeopardize people’s ability to get loans and pass job-related background checks. Experian has even wrongly reported that consumers are on a federal terrorism watch list, the lawsuit alleges.
ON THE MOVE
HONOLULU Family Magazine has named Christi Young editor. Her responsibilities are to oversee the overall editorial direction of the publication. Young was previously marketing manager for the magazine as well as an associate editor for fashion and lifestyle blog Lei Chic at PacificBasin Communications.
Decision Research Corp. announced Darren Horn has joined the company as vice president of sales and marketing. He has experience as a solutions provider and an insurance company executive.
Bishop Street Commercial announced its new hires:
» Timothy Lee as managing director of the Retail & International Investor Group. He was previously working at Retail Strategies and Prudential Commercial Services Iwado Realty.
» Tao E. Miller as managing director of Retail & International Investor Group. He also previously worked at Retail Strategies.
» Devon Ferguson as director of the retail services group. He will also represent institutional retail tenants and landlords statewide at BSC.
The Waianae Coast Comprehensive Health Center board of directors has named the following to its executive committee for May 2014 to April 2015: Anthony R. Guerrero Jr., chair; Keola Lloyd, first vice chair; Kauila Clark, second vice chair; Bill Wilson, third vice chair; Billie Hauge, secretary; and Wayne Suehiro, treasurer.
