Startups are Global, and Hawaii has a Role to Play
When we started Blue Startups in 2013, we never dreamed we would become a globally recognized accelerator. Our mission was to give Hawaii entrepreneurs a head-start in the competitive world of startups, and in turn, help to diversify the Hawaii economy. However, what we have found along the way is that we are all so interconnected in the online world of startups, that these lines continue to blur.
In our first application process in 2013 we had 127 applications, roughly 30% of which were from Hawaii. In our last application cycle we had 494 applications, roughly 10% of which were from Hawaii.
In terms of numbers of startups we have funded, 60% have come from Hawaii. Our mission to support Hawaii entrepreneurs first continues in every cohort. And, without revealing too much (Cohort #12 to be announced on August 10), I can say that the prioritization of Hawaii-founded companies will continue.
But, our global reach has also increased over the years, we have now had startups from Singapore, Korea, Australia, Philippines, Spain, Portugal, and Canada come through the program. Why is this global mixture important to us? We do feel that the Hawaii economy is a part of the global economy, and for us to truly compete on a global scale we need to understand the world around us. When entrepreneurs from around the world mix in our cohort, they learn from each other, become better global citizens, and better global entrepreneurs.
And, while place based investing will always be important to us, we believe that we will thrive as a society only if we can compete in the global economy. Only then will we be able to command the kind of wages that will allow us to continue to live and prosper in this beautiful place we call home — Hawaii.
