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Everything you need to know about startups in Florida

A laptop at a work desk with tech and economic graphs, representing startups in Florida!
Everything you need to know about startups in Florida!
If you want to be successful in today’s business world - you need to understand the business landscape well. And with that in mind, you’ll want to think about what’s the most prominent change that the world of economics has seen in the past decade? Without a doubt, the answer would be - startups. Small, private companies with the potential to grow into industry giants - these have become the backbone of the economy in Western countries. So, with that in mind - we’re here to tell you everything you need to know about startups in Florida! 

A surprisingly fertile ground for tech companies

If you take a look at what changes are happening in Florida these days in terms of economics; you’ll find many things developing at a rapid pace. However, one of the most interesting new trends is the growth of Florida as a tech hub. In fact, there are quite a few startups in Florida that may catch the attention of any venture capitalists and other interested professionals. And that means that this is a business scene to keep an eye out for.

Sure, for decades this state was famous for its gorgeous weather, and tourist attractions. But in recent years, you’ll find many tech professionals coming from all over the country to start their companies here. Sure, this is still no Silicon Valley; but the area is beginning to overtake New York as a budding tech hub. Indeed, you’ll find many tech aficionados relocating from the Big Apple to Florida these days. And they’re definitely not wasting their time; more and more, Florida is beginning to flourish as more than the Art Deco architecture state. If you take a look at Miami itself, you’ll find that its own tech scene is becoming a force to be reckoned with. 

The Miami tech scene is growing

If you decide to closely inspect the startups in Florida and their development; you can’t really miss Miami. After all, many tech startups are hiring moving companies like orangemover.com for a business relocation to Miami. Why? Because the city’s tech potential is ever-growing. There are multiple indicators for this. For example, Miami made it into the close selection of 20 finalist cities for Amazon’s HQ2 contest. While this may come as a surprise to some people, it’s actually a perfectly natural development. And make no mistake - there are quite a few other things happening in Miami simultaneously; the momentum of the local tech scene is rapidly increasing.

The Miami Beach skyline during the day
While the area is primarily known for tourism, Florida’s tech strength is growing!

Indeed, many industry veterans are claiming that Miami is currently experiencing a technological transformation. Throughout history, the local economy hasn’t exactly been very diverse. After all, this was an area that primarily thrived on tourism. But more and more, shared workspaces for tech freelancers are becoming commonplace in Miami. In fact, startups in this area have raised around $1.3 billion in funding. Venture capitalists have definitely recognized the allure of Miami. 

Can Florida compete with Silicon Valley?

Naturally, all of this information should be taken within context. When you study the VC activity regarding the startups in Florida, you naturally need to take a look at competing areas. In doing so, you’ll see that Miami is one of the most active cities when it comes to venture capital investments, right there between Chicago and Seattle as eight in the entire US. But let’s face it - Silicon Valley has nothing to fear from Miami, at least as of yet. Just last year, San Francisco has more than $23 billion in funding. And that stands at around a third of all the VC capital in the nation. 

A team of tech professionals fist bumping in the office.
Florida’s talent pool is full of potential when it comes to tech!

However. Miami can boast with a different set of traits that make it a prime target for budding investors. For companies that are looking to boost their productivity, Miami can help with that by offering an extremely diverse talent pool. However, its only problem is that the local government does not yet think of their city as a tech hub. Primarily, they look at themselves as a tourist-based economy, focused on the hospitality sector. And while this may be one of Miami’s greatest strengths now, tourism and real estate may not be able to sustain them forever. 

Miami as a global city

As we’ve already mentioned, startups in Florida are primarily focused on Miami. And that’s why this city will the lynchpin for Florida’s budding tech economy. When you take a look at Miami, you’ll see a tech market which serves almost 6 million customers. It’s almost $330 billion of economic output make this a healthy breeding ground for startups; especially those focused on aiding the tourism sector. By using tech-powered solutions to optimize existing services, companies here will be able to create quite a lot of value. 

The Miami skyline at night, with a brightly coloured bridge.
With the right ideas, Miami can truly be a city of the future!

The idea of a great potential Miami can fulfil is also supported by official stats as well. If you examine its Kaufmann Index, you’ll see a genuinely positive outlook. And this is a metric which many economists and tech professionals recognize as valid. The many innovative technologies make everything much easier, when it comes to accumulating more value in any sort of market. That’s why plenty of tech incubators and organizations have started to base themselves in Miami over the past few years. If things continue progressing like this, Miami and Florida, in general, will definitely become one of the prime startup areas in the country.

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