We need to nurture an “innovation economy,” in which entrepreneurs use technology to develop new processes and products from existing ones, like smart phone makers who have taken their products far beyond the original concept of a mobile phone and created entire new markets.
It’s a whole new economic paradigm which we need to support with modern infrastructure, whether it’s expanding our broadband network or building innovation parks. That’s why we are providing $10 million for the HI Growth initiative to support innovation.
He also touched on the University of Hawaii:
We also need a strong university system to help educate our future leaders and citizens and create a place where innovation, original thinking and technology flourishes—a university system not just engaged in the community but leading it into the future.
In that regard its goals must be clear; its planning must be precise; its actions must be forthright. I challenge our university leaders to focus on execution, accountability and delivery in all that they do.