Yes, it is still early, and there’s more to come. A lot of it is going to come from attracting talent from outside Miami, and, honestly, it doesn’t seem to be a hard task. Miami is a great launching pad if you are interested in selling to LATAM or tapping into the U.S. market, with a privileged positioning to cater to U.S. Hispanics. The quality of life is great, it’s strategically close to Europe, LatAm, New York and San Francisco, the infrastructure is starting to be in place and the ecosystem is growing fast.
Institutional venture capital funds have yet to look at Miami with better eyes — but honestly, who would have expected for them to arrive before the opportunities?
This is already changing. 500 Startups has done a program in Miami, investing up to $250,000 in eight companies, and Scout Ventures established an office in Miami and made two investments. Prominent angel investors Patrick McKenna and Mark Kingdon have moved to the area, and local funds are starting to emerge, such as Z9 actively looking for companies.
The landing of Startupbootcamp’s accelerator is also encouraging, and will certainly pave the way for more accelerators to come.
Whoever has tried surfing at any point in their lives know something very well: There is, indeed, a right time to catch a good wave. It is certainly not at its peak; rather, it takes a bit of paddling and vision to catch the best waves and enjoy the ride.