Silicoln Riviera: Miami's Fast-Rising Tech Startup Culture

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The article describes Miami's Tech Startup Culture and how our law firm is seeing increased venture capital and angel investor activity.

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Silicoln Riviera: Miami's Fast-Rising Tech Startup Culture

  1. 1. Posted on Thu, Apr. 14, 2011Silicon Riviera: Miamis Fast-Rising Tech Startup Culture/PRNewswire/ -- After suffering through the most devastating economy since the GreatDepression, Miami is sprinting ahead in attracting and cultivating a flourishing tech startupcommunity.With the support of nonprofit organizations, academic institutions and private investors, localstartups are beginning to attract the attention of the nations top venture capitalists. Long-accustomed to searching for the next big startup in the Silicon Valley area of San Francisco,these firms are now turning their sights to the glittering shores of Miami.It was only one year ago, that such a scene was hard to imagine with Miamis unemployment ratehovering at a frightening 12%. As circumstances often dictate, it was largely because of thedismal economy that Miamis startup culture took flight.Out of the ashes of unemployment and left with no other alternative, many of Miamis laid-offworkforce took the bold step to launch their own tech start ups. For these newly minted techentrepreneurs, the prospect of becoming the CEO of their own micro empire led to a dramaticincrease in the number of Miami startups.This new trend has not gone unnoticed. According to Miami business attorney, Santiago A.Cueto, legal counsel to a number of local startups, "the recent upswing in tech startups bodesextremely well for attracting top-flight venture capital firms." Mr. Cueto adds that to meet thisgrowing demand, his firm now counsels and prepares startup clients to meet with the nationsmost sought after angel investors and tech financiers.The support of organizations such as Incubate Miami, a technology incubator, have helped tofuel growth in Miamis quick-rising tech startup scene. Local investors have also played a role.The Miami Innovation Fund, a 15-member group of Miami angel investors, recently funded itsfirst venture, Concierge, a Miami startup that promises to turn the Smartphone industry on itshead with its groundbreaking voice information technology.Also helping to establish Miami as a Silicon Riviera of sorts is the University of Miamis LaunchPad, an entrepreneurship resource center and part of the White Houses "StartUp AmericaPartnership." The newly launched partnership is designed to increase the development ofinnovative high-growth firms.If the current pace of activity is any indication, Miami is sure to join the ranks of other "startup"cities (San Francisco, New York, Boston, and Seattle) and prove to be a rich breeding ground forthe nations most promising tech startups.

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