Ever since Francis Suarez’s crazy “How Can I Help?” message, the idea of moving to Miami has been picking up steam. When logging into Twitter, I am always excited to see new information on #MiamiTech, but the rate at which announcements is increasing has been fantastic to watch. Huge credit to the team behind @refreshmiami, they prove the cliche about it being 15 years to an overnight success. As an MIT Graduate who joined their first Technology Startup in high school, it is super exciting to see my hometown area really thriving. It has been fantastic to support the MiamiTech community, first at Incubate Miami, and now at Z9 Ventures.
What a week for #miamitech @nearpod exit for $650m@cyxtera SPAC worth $3.4B@RecargaPay $70m Series C@knightfdn $15.3m in grants for local universities
— Nico Berardiâš¡ (@nicberardi) February 24, 2021
What makes this week super exciting is that it isn’t just politicians talking, we’re getting real examples of Miami’s under appreciated technology options. Grants for universities will help solve our talent problem in the years to come, as University of Miami and Florida International University provide a base of young talent to feed the talent pool necessary to build the companies.
With entrepreneurs, investors, and venture capitalists announcing their moves to the Miami area daily, it’s hard to keep up with all the momentum and changes taking place in the South Florida area. Even as California and New York start to open up their economies from their COVID-19 lockdowns, Miami has shown its ability to compete on the world stage for talent, investment opportunity, and business friendly climates. We expect the momentum to slow down in the months to come, but we believe that enough new energy has been created to propel the #MiamiTech technology scene forward.
Why #MiamiTech will succeed where “Internet Coast” failed?
COVID-19 has produced a full year of changes in the country, most of which have been negative. However, the embracing of remote work and virtual business meetings gives companies and entrepreneurs the ability to locate their business anywhere they want. Given the flexibility to live anywhere, why would you not consider Miami? Miami is a thriving metropolitan area, with beautiful weather, great neighborhoods, amazing culture, and a business friendly environment? The lack of a state income tax is a huge advantage compared to California’s metropolitan areas, who can over some of those things, but not the business or tax environment.
What challenges does Miami Face?
Bringing investors and business opportunities to Miami is the first step, but we also need to establish the business infrastructure necessary to support these businesses. The explosion of retirees led to an influx of doctors, lawyers, and accountants, educated professionals that well off retirees need. Most of Florida’s business attorneys are focused on either real estate or international business, not technology startups.
Why is Bette Hochberger, Inc. super excited for this?
Bette Hochberger worked at her first startup when we were both MIT Undergraduates, and she still works with startups in Boston, New York, and California. As one of the few CPA Firms in the Miami area with the knowledge, skills, and intelligence to help venture capital backed startups, we see huge opportunities for our firm to play a positive role in this new development in Miami and the South Florida area. We see #MiamiTech as an opportunity to have our local community thrive.
