Hawaii Venture Capital Association
  :: HVCA INNOVATION SURVEY REPORT


Friday, July 04, 2008 5:37:05 PM



Participants in Survey

Companies participating in Survey 107

Organizational Structure Information

Organization Type A. LLC: 27
B. Corporation: 42
C. Partnership: 3
D. Joint Venture: 1
E. Sole Proprietorship: 12
Organization Year 1983: 1
1984: 1
1985: 1
1987: 1
1989: 2
1990: 2
1992: 1
1994: 2
1995: 2
1996: 1
1997: 2
1998: 3
1999: 2
2000: 1
2001: 9
2002: 3
2003: 5
2004: 7
2005: 9
2006: 14
2007: 14
2008: 2
Organization State Arizona: 1
British Columbia: 1
California: 1
Delaware: 9
Hawaii: 71
Massachusetts: 1
Utah: 1
Capitalization $ 182,797,500
Public Company No: 77 %
Yes: 3 %
Number Of Offices 150
Headquarters State Arizona: 1
California: 1
Hawaii: 80
Massachusetts: 1
Nevada: 1
Utah: 1
Total Square Footage 142,000

Ownership Information

Avg Percent Ownership Founders 62 %
Avg Percent Ownership Angels 6 %
Avg Percent Ownership VCs 4 %
Stock Options To Employees No: 56 %
Yes: 19 %

Business Activities Information

Business Type A. Alternative Energy: 10
C. Defense and Aerospace: 6
F. Film and Digital Media: 6
G. Financial Services: 4
H. Health Care: 2
J. Information Technology: 12
L. Life Sciences: 4
M. Manufacturing: 1
O. Ocean Sciences: 3
P. Performing Arts: 2
Q. Professional Services: 16
T. Sensor-Optic Technologies: 2
U. Telecommunications: 1
V. Tourism: 3
W. Transportation: 1
X. Venture Capital: 4
Y. Wholesale-Distribution : 1
Stage Of Growth A. Start-up: 36
B. Seed: 4
C. Early: 14
D. Growth: 16
E. Mature: 8
RDBudget $ 10,455,000
Number Of Patents Granted 84
Number Of Provisional Patents 80
Patent Applications 32
Dual Use No: 52 %
Yes: 21 %
QHTB No: 44 %
Yes: 29 %
Use Local Attorneys No: 20 %
Yes: 53 %
Use Local Accountants No: 24 %
Yes: 49 %
Use Local Headhunters No: 60 %
Yes: 13 %
Use Employee Leasing No: 67 %
Yes: 6 %
Use Local Banks No: 16 %
Yes: 57 %

Company Financial Information

Gross Annual Revenue $ 62,580,000
Avg Percent Revenue From Government Contracts 15 %
Avg Percent Revenue From Royalties And License Fees 4 %

Government Grant Information

SBIRGrants $ 3,877,500
CEROSGrants $ 1,875,000
HTDVGrants $ 2,050,000
State SBIRGrants $ 137,500
Nonmilitary Grants Contracts $ 4,150,000
Military Grants Contracts $ 6,275,000

Private Funding Information

Last Funding Type Sought A. None: 55
B. Bridge: 3
C. Seed Round: 6
D. Series A: 3
E. Series B: 2
H. Loan: 1
I. SBA Loan: 2
N. Combination: 3
Last Funding Amount Sought $ 155,785,000
Last Funding Source A. None: 55
C. Family: 2
D. Friends: 1
E. Angels: 7
G. Mainland VC: 1
H. Foreign VC: 1
K. SBA: 2
M. Combination: 4
R. Local VC: 2
Last Amount Raised $ 169,290,000
Date Last Funding Round Closed 2006: 3
2007: 2
A. None: 3
B. 2007: 7
B. 2008: 1
C. 2006: 3
C. 2007: 1
Funding Amount Now Sought $ 61,852,500
Last Funding Type Sought