HB 1709 Summary

• Establishes the Office of Entrepreneurship, initially placed within the Office of the Governor and permanently moved to the Department of Business, Economic Development, and Tourism on July 1, 2027.

• Requires the Director of the Office of Entrepreneurship to be appointed by the governor with senate consent and possess professional training and experience in business, economic development, or related fields.

• Directs the Office to strengthen entrepreneurship policies, provide technical support to entrepreneurs, serve as a point of contact for businesses operating less than five years, and encourage five percent of state contracts to go to young businesses.

• Mandates the Office to submit annual reports to the legislature beginning two years after creation, including data on state contract awards to businesses in operation five years or less, broken down by demographics and geography.

• Amends the Hawaii Film and Creative Industries Development Special Fund to include a partnership program with the Office of Entrepreneurship and appropriates unspecified general revenues for fiscal year 2024-2025 to establish the office.