The Hawaii Technology Development Corporation has selected Hub Coworking Hawaii as its new partner to manage its Kakaako coworking space, Entrepreneurs Sandbox.
The partnership was effective beginning May 1, and the transition is expected to take place in the coming weeks, HTDC said in a statement issued on Wednesday.
“We are excited to partner with Hub Coworking Hawaii to take the Entrepreneurs Sandbox to the next level,” said Len Higashi, HTDC executive director, in the statement. “Its expertise and resources will be invaluable in supporting the growth and success of our state’s startup community.”
In the release, Higashi also noted that HTDC is “grateful” to BoxJelly, the previous management partner, “for its support and dedication to the Entrepreneurs Sandbox over the past several years.”
In an email to Pacific Business News, Higashi said that HTDC, “as part of its normal business practice,” released a request for proposal for management services in early February, as its original four-year contract with BoxJelly was set to expire in April.
“Hub Coworking was selected based on a set of criteria in the RFP that would provide the state with the best value and performance,” Higashi said.
“Through the Hub’s network, this new partnership will help increase resources for the Sandbox and its members, including fresh ideas to enhance the overall Sandbox experience,” he added.
Founded in 1983, HTDC is a state agency within the Department of Business, Economic Development and Tourism that aims to facilitate the development of Hawaii’s technology sector, with the goal of diversifying the economy and growing high-paying job opportunities for residents. To this end, HTDC provides capital to small- and medium- sized businesses, helps tech-enable large companies, hosts events related to tech and innovation, and more.
The agency launched the Entrepreneurs Sandbox in 2019 as a place to foster collaboration. The two-story, 13,500-square-foot facility features event and coworking space, as well as collaboration space, meeting rooms, and small offices.
Hub Coworking is a coworking space provider, with locations in Kakaako and Waikiki. Its members include nonprofits, startups, small businesses, and national corporations, as well as freelancers.
"We are honored to partner with HTDC and the Entrepreneurs Sandbox to support Hawaii’s entrepreneurial ecosystem,” said Nam Vu, co-founder and chief operating officer of Hub Coworking Hawaii, in a statement. “Our goal is to create a collaborative and inspiring workspace where entrepreneurs can connect, learn, and grow their businesses.”
Higashi said that “Hub [Coworking] will have at least one full-time employee located at the Sandbox and additional support will be provided by their extended team remotely.”
HTDC did not disclose the financial terms of the deal, but Higashi told PBN that the partnership “is based on a revenue share model that will equally benefit both partners.”
In conjunction with the new partnership, HTDC said it plans to “revitalize” the Entrepreneurs Sandbox and expand its services and programming. This will include additional networking and educational opportunities for entrepreneurs, as well as new initiatives to help startups grow.
“The Hub will infuse in-house programs into the Sandbox such as the Hub Dojo, a lunch and learn series that brings in industry experts to speak about matters vital to our community, and partnerships with the Small Business Administration to offer small businesses with needed advice,” Higashi said. “Also, networking events to fuel collaboration such as Hub’s Stories Out Loud, will be added to the Sandbox’s line-up of programs.”
