NEWS RELEASE

Social entrepreneurs search for funding

Hawaiʻi Investment Ready - 2015 Cohort Group

They are culturally connected businesses and enterprises tackling some of Hawai‘i’s most pressing social issues.

Nine non-profit businesses and five for-profits who are addressing hunger, food sustainability, at-risk youth, the arts, Hawaiian culture and education are collaborating, sharing strategies and taking their work to the next level as part of a two-year cohort program with Hawaii Investment Ready.

These social enterprises will pitch potential investors this week and will share their successes and expansion goals in a presentation titled,  “Hawaii Social Enterprise,” at Hawaii Pacific University at Aloha Tower on Thursday, November 19 from 3:00 – 5:00 pm.  One team will have the chance to win $75,000 in funding to expand their business.

Hawaii Investment Ready (HIR) is sponsored by Kamehameha Schools, KL Felicitas Foundation and Social Impact International.  Funding for the grand prize is provided by KL Felicitas Foundation.

Members of the 2015 HIR cohort include: Awaiāulu; Hawai‘i Food Basket; Hawai‘i Island Youth Corps; Ho‘okua‘āina; Ho‘oulu ‘Āina; Holoholo General Store; Kako‘o ‘Ōiwi; Kama‘aha Education Initiative; Kanu o ka ‘Āina Charter School; Kealopiko; Roots Café; Local I‘a; Natural Resource Data Solutions: and O‘ahu Fresh Food Hub.

The goal of HIR’s cohort program is to support social entrepreneurs in clarifying their value proposition, refining their business concept, strengthening their financial model, building organizational infrastructure and communicating the opportunity and returns of impact investment.  Once funding is secured, the cohort’s goals turn to execution and efficiency.

“We want to help these enterprises evolve from being charity worthy to investment ready and prepared to achieve their lofty aspirations,” said Neil Hannahs of Kamehameha Schools.  “Many of these enterprises have previously been funded through grants.  Many enroll in Hawaii Investment Ready to develop concrete plans to reduce grant dependency and become more self-sustaining.”

For Kealopiko, a Moloka‘i-based design and clothing company, participating as an HIR cohort member “has made us focus on the gut, the na‘au of our company, and the nuts and bolts to make sure everything is pono.  It has really made us focus and ask ourselves what is really important, what kind of impact can we have in our community, and how do we want to grow that impact,” said Ane Bakutis, co-founder.

Organic farmer MA‘O Farms was part of the founding cohort in 2013 and the recipient of a $75,000 investment from Hawaii Investment Ready.   “The money is not just a check,” said Hannahs, “it’s an investment that they can leverage for even greater support.”

For more information about Hawaii Investment Ready and this year’s cohort, visit www.HIReady.net.