A Honolulu-based startup that developed a technology to help battle a massive global counterfeiting problem was recognized by the World Economic Forum on Monday with a prestigious award that counts firms like Google, Twitter and Kickstarter among past recipients.

TruTag Technologies Inc. was one of 36 firms named a "Technology Pioneer" in the forum’s annual award program that highlights the world’s most innovative companies. It is the first time a company from Hawaii has received the award.

TruTag Technologies has developed a microtag no thicker than a human hair that can be imbedded with vast quantities of unique information to help identify the authenticity of a range of products, from pharmaceuticals to aircraft parts.

TruTags are inert and edible, and can be integrated into the very fabric of a product, much like fingerprints on a human being, said Dr. Hank Wuh, TruTag Technologies chairman. The dust-size items are made of silica containing optical patterns that can be read by a scanner.

"The fact that a homegrown company can be on a global stage and selected by the World Economic Forum as one of the most innovative, influential companies in the world is really a statement to the fact that here in Hawaii we can do anything," Wuh said. "I think it’s really important for the young people of Hawaii to be inspired by this kind of work."

TruTags already are drawing interest from pharmaceutical companies, which view the technology as a way to guarantee their products are authentic in a world where counterfeit drugs drain $80 billion a year from the global economy.

Pharmaceuticals can be embedded with TruTags containing vital information, such as the name of the product, expiration date and lot code. The scanner currently used to read the information on pills is roughly the size of a toaster. But Wuh said the scanners eventually will be reduced to the size of a cellphone.

The TruTag technology holds a lot of promise for the pharmaceutical and food industries to ensure authenticity, Wuh said. "The safety of food and medicine is a huge concern today," he said. But applications for the technology are infinite, he added.

The International Chamber of Commerce estimates counterfeit and pirated goods cost legitimate businesses $1 trillion annually.

Technology Pioneer candidates are evaluated by the world’s leading technology experts in a rigorous selection process, said Tom Byers, a professor of entrepreneurship at Stanford University’s School of Engineering and a past judge for the awards.

"With their ability to profoundly affect the world’s current counterfeit crisis, TruTag Technologies is a perfect fit for the Technology Pioneer awards," Byers said.

The awards will be presented on Sept. 12 at the World Economic Forum’s Annual Meeting of the New Champions in Dalian, China. Wuh has been invited to speak at the closing session.

TruTag is a member of the Skai Ventures family of companies, together with the Eye Surgery Center, Eyegenix, Skai Vision Institute and DeconGel.

"We scour the world for great ideas and transform them into high-growth companies right here in Hawaii," Wuh said.

Skai Ventures also mentors young entrepreneurs through its summer internship program that accepts 12 to 15 high school and college students each year.

"They come here and learn about entrepreneurship and innovation," he said.