There has never been a better time to be an entrepreneur than right now, or a better city to do it from than Miami.
Miami was already a vibrant international business hub before the pandemic struck. Thanks to a business-friendly climate, a coronavirus-related influx of talent, and the vision of local leaders, its startup scene is now on a rapid ascent. The 2017 federal tax policy changes made Florida, with its favorable tax structure — including one of the lowest corporate tax rates in the US (5.5%) and low sales and property taxes — an appealing alternative to high-tax states like California and New York. Covid exacerbated many coastal hubs’ challenges, and in turn accelerated interest in Miami. In January 2021, SoftBank announced plans to invest $100 million in Miami-based startups, with its $5 billion Latin America Fund and $100 million Opportunity Fund already headquartered in Miami. Since then, renowned VC firms Founders Fund, Atomic, and General Catalyst have also decided to open offices here. In February 2021, the Knight Foundation announced $14.3 million in funding to expand computer and data science programs at Florida International University and the University of Miami to supply the ecosystem’s growing tech talent demand. Many local organizations are creating spaces that are of, by, and for tech builders and connecting new arrivals with Miami’s existing stakeholders. The Local Leaders Collective creates communities of founders helping each other through the entrepreneurial journey, and groups like Out in Tech and Haitians in Tech are creating on-ramps for more Miamians to participate in the city’s startup community. Several hundred VCs and tech leaders from both in and out-of-state joined an impromptu inaugural Miami Tech Week in 2021, already slated to return in 2022.
Ecosystem by the numbers
Reasons to move your startup to Miami
The Economic Landscape
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