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Miami's startup scene is one of the most vibrant in the United States. Since 2015, venture capital activity has grown sixfold to be the second fastest growing startup ecosystem in terms of VC investments. During this relatively short period, Miami’s ecosystem multiplied by 6.4, growing at a CAGR (Compound Annual Growth Rate) of 36%.
Recent stats show that there are 248 startups for every 100,000 people in the city. 73% of these have been founded after 2010. The city also has dozens of venture capital funds, accelerators, company builders, universities, co-working spaces and powerful NGOs with focus on innovation. According to Biz2Credit’s annual ranking of 2019, it’s the #1 city for small businesses to grow.
Why now?
Miami is a city that has been cultivating its startup ecosystem for years. Its quality of life, low tax rates, competitive cost of living and tech-friendly political leaders attracted a wave of entrepreneurs, coders and venture capitals. This was only further multiplied due to the impact of COVID-19 pandemic with people from around the States relocating to Miami as remote working opportunities became more accessible.
What other strengths does it provide to help your startup grow?
Miami also offers a plethora of business-friendly incentives for your startup to grow and expand into a robust organization:
Resources for further reading:
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