[LUAU] hawaii as hub for wireless high-tech firms

[Jim Thompson]

http://news.yahoo.com/s/ap/20051004/ap_on_hi_te/ 
high_tech_hawaii;_ylt=ArZdmc9rFO8Vh8vVmLfaSTEjtBAF;_ylu=X3oDMTBiMW04NW9m 
BHNlYwMlJVRPUCUl

concludes with:

But Hawaii still has its problems.

Dustin Shindo, chairman and co-founder of Hoku Scientific, said many  
companies have trouble accessing funds to help them grow beyond infancy.

"If you're a venture capitalist in Silicon Valley, you don't even  
want to drive to the East Bay. The last thing you want to do is get  
on a plane to manage a company in Hawaii," Shindo said. "So  
everything else being equal, you're not going to invest here."

Several Hawaii companies, such as wireless network pioneer Firetide  
Inc., have had to move to California after receiving cash from  
Silicon Valley venture capitalists.

State legislators have mulled creating a $100 million dollar fund to  
compensate for the lack of local venture capital but haven't been  
able to agree on the initiative.

Experts also worry whether Hawaii's high housing costs will ward off  
potential entrepreneurs and whether its schools will be able to  
supply high-technology companies with the knowledge workers they need.

Fitzgerald said the people of Hawaii will have to act fast if they  
want high-technology to become a third pillar of the economy after  
the low-wage tourism industry and defense spending.

"We have to be quick to do this if we are going to preserve what's  
here and build upon it," Fitzgerald said. "If we are still having  
this debate five or 10 years from now, these companies are going to  
be dead or gone. And new ones that would start here will pass us by."



which, in the large, echo's Scott's point perfectly.