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SoftBank is just the latest validation for Miami’s booming startup scene
Miami has long been a refuge for those escaping the cold or Latin American countries in political and economic turmoil. But, in 2020, it welcomed investors, founders and others in tech leaving San Francisco and New York City, partly propelled by the pandemic, seeking a welcoming government, lower taxes, a decent climate, less expensive housing, a dynamic lifestyle and the type of diversity that’s proven to help companies thrive.
Investors are bullish on Miami, TechCrunch found. In a survey with eight local investors, they point out the strengths and opportunities of the growing market.
8 Miami-area investors assess America’s southernmost tech ecosystem There’s a lot of potential for this city, but Rome wasn’t built in a day
The exodus out of San Francisco and New York is making a big impact on Miami, a city that’s been steadily growing into a tech hub over the last 15 years. We’re seeing a “moment” in Miami, but many are hoping and working to turn it into a movement.
In late January, Softbank Group International announced a $100 fund directed at Miami’s exploding tech scene. As explained in this article, this is the latest validation that Miami is booming. Softbank Group Intl. told TechCrunch this ahead of his announcement. “Miami is quickly evolving to accommodate increasing demand as it becomes a growing startup destination. From emerging ‘elder tech’ to biotech, Miami is an attractive investment market that offers unique opportunities for immigrants and minorities to pursue entrepreneurship opportunities.”
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