HI SB2624

Establishes the Hawaii High Impact Center for Commercialization within the University of Hawaii's Office of the Vice President for Research and Innovation, with option to incorporate as an independent nonprofit corporation.

Center shall support small businesses in dual-use technology, innovative agriculture development, molecular manufacturing, humanitarian assistance, and disaster management and response.

Center purposes include developing a technology transfer and commercialization system, implementing a manufacturing readiness program, providing capital for commercialization activities, and creating high-quality job opportunities for Hawaii residents and graduates.

If incorporated as a nonprofit, the center must comply with nondiscrimination laws, obtain tax-exempt status, maintain governance bylaws, prohibit use of state funds for entertainment or lobbying, and have board members without material conflicts of interest serving without compensation.

Center authorized to seek and accept grants, gifts, and other funding from public and private sources to carry out its purposes.