FICOH’s $100,000 Commitment to the PACE Pitch Initiative

May 27, 2014

First Insurance Company of Hawaii Invests in Pacific Asian Center for Entrepreneurship Initiative for Entrepreneurial Education and Research Commercialization at UH Mānoa

First Insurance Commits $100,000 to Center to Name Co-Working Space

HONOLULU — First Insurance Company of Hawai‘i (FICOH), the oldest and largest property and casualty insurer in the state, has given $100,000 to the Pacific Asian Center for Entrepreneurship (PACE) at the UH Mānoa Shidler College of Business. FICOH’s gift will go towards the 5-year PACE initiative that was launched in February 2014. The goal is to raise $2.5 million to create new programs, grow existing programs, and renovate a new and larger location in the Shidler College of Business.

The new center will enable PACE to create a vibrant co-working space for entrepreneurial activity at the University, double the number of entrepreneurial programs it offers, introduce an entrepreneurial curriculum to other UH Mānoa colleges, train key faculty on current entrepreneurial pedagogy, play a pivotal role in the commercialization of UH technology and innovation, and establish a presence in Asia as a leaders in entrepreneurial education.

"Every business must think entrepreneurially or risk falling behind. In this competitive business climate First Insurance Company of Hawaii has made entrepreneurial thinking a priority. We have launched operating programs focused on new ideas, increased collaboration, and open communication with an emphasis on change. Our support of PACE ensures more graduates are acquainted with these concepts. These virtues benefit not only our business but our entire State," said Allen Uyeda, CEO of First Insurance Company of Hawaii and Vice Chair of the PACE Board of Directors.

Under the leadership of Dean Vance Roley and Executive Director Susan Yamada, PACE has become the training ground for future entrepreneurs and business leaders as well as the bridge between the academic and business worlds. PACE has expanded to include 15+ programs to cultivate new entrepreneurs, encourage entrepreneurial thinking, spawn new businesses, and rekindle ties with Hawai‘i’s business community.

“We are grateful to FICOH for their gift towards PACE and the entrepreneurship initiative. Moreover, Allen’s dedication of time and advocacy for entrepreneurship at the University and in the business community is critical in bridging the two worlds and moving the initiative forward in great leaps,” said Susan Yamada, Executive Director of PACE.

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First Insurance Company of Hawai‘i (FICOH) has been providing coverage to Hawai‘i’s families and businesses since 1911. A member of the Japan-Based Tokio Marine Group, FICOH enjoys an “A+” (Superior) rating from A.M. Best Company, whose ratings are widely recognized as a benchmark of an insurer’s financial strength. FICOH has also been named to the Ward’s top 50 list recognizing the nation’s best property and casualty insurance companies. Today, FICOH employs more than 300 insurance professionals and distributes its products through 29 independent general agencies.

The Pacific Asian Center for Entrepreneurship (PACE) is the home for an integrated set of leading-edge entrepreneurship programs at the University of Hawai‘i. Based in the Shidler College of Business, PACE is dedicated to fostering the entrepreneurial spirit among all members of the University and local community. For more information, visit pace.shidler.hawaii.edu or follow us on Twitter @PACEhawaii.

The Shidler College of Business at the University of Hawai‘i at Mānoa
Established in 1949 as the College of Business Administration, the College was named in 2006 after alumnus Jay H. Shidler, founder and managing partner of The Shidler Group. The Shidler College of Business is renowned for its expertise in international management education and is consistently ranked among the nation's top graduate schools for international business by U.S. News. Long recognized for its Asia-Pacific focus, the College is a professional school offering a wide variety of degree, certificate and executive programs. The UH Shidler College of Business is the only graduate program in the State of Hawai‘i accredited by AACSB International. For more information, visit www.shidler.hawaii.edu.

The University of Hawai‘i at Mānoa serves approximately 20,000 students pursuing more than 225 different degrees. Coming from every Hawaiian island, every state in the nation, and more than 100 countries, UH Mānoa students thrive in an enriching environment for the global exchange of ideas. For more information, visit http://manoa.hawaii.edu. Follow us on Facebook and Twitter.

The University of Hawaiʻi Foundation, a nonprofit organization, raises private funds to support the University of Hawaiʻi System. The mission of the University of Hawaiʻi Foundation is to unite donors' passions with the University of Hawaiʻi’s aspirations by raising philanthropic support and managing private investments to benefit UH, the people of Hawaiʻi and our future generations www.uhfoundation.org.