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5+ things to know in #MiamiTech: Brightline awarded grant for AI tech, plus news on Latino economy, Terran Orbital, UKG, Global Ventures, Endeavor Miami & more

Nancy Dahlberg
Nancy Dahlberg
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1

Brightline wins US grant to develop AI tech for rail safety

Brightline and partner Wi-Tronix have been awarded $1,648,000 from the Federal Railroad Administration’s (FRA) Consolidated Rail Infrastructure and Safety Improvements (CRISI) competitive grant program. The investment will enable the development of the AI-backed monitoring system, Wi-Tronix, to collect real-time data of trespass activity along the Brightline/FEC Railway corridor. The data collected by locomotive front-end cameras will guide future decisions related to infrastructure, enforcement and education. Once developed, the first-of-its-kind system could be used by railroads across the country.

Wi-Tronix has been improving both rail and public safety through the use of AI-enabled cameras and its onboard platform. Over two million thumbnail images and 135,000 hours of video footage are captured every day, allowing the company to continuously improve its automated software solution and AI infrastructure.

The first step of the grant-funded project will be to install upgraded, high-definition forward-facing cameras on each of Brightline’s 21 locomotives. Those cameras will collect data, which will be used to develop and train an AI model to identify unsafe behaviors around the corridor. This information will empower Brightline to more accurately identify areas for additional community outreach, law enforcement presence, or engineering projects.

“It’s our hope that this project, the first to be deployed at scale, will utilize AI technology to drive data-informed decisions along our corridor and establish a cutting-edge technology for the rest of the industry,” said Michael Lefevre, Brightline’s Vice President of Operations.

READ MORE IN REFRESH MIAMI: All aboard! Brightline doubles down on tech-fueled offerings to improve South Florida mobility

2

New report sheds light on Latino economic strength

Kicking off the 2023 L’ATTITUDE Conference at The Fontainebleau Miami Beach this week, the Latino Donor Collaborative released its 2023 Official LDC U.S. Latino GDP Report. The report, now in its sixth edition, provides a trove of new data and insights about the U.S. Latino cohort: how the country’s fastest growing population is fundamentally reshaping the U.S. economy through three primary channels: population growth, a high degree of workforce participation, and increased productivity linked to educational attainment.

Some highlights:

  • The U.S. Latino GDP is now valued at $3.2 trillion (14% YOY increase), growing 2.5x faster than non-Latino equivalent. U.S. Latino purchasing power is measured at $3.4 trillion.
  • In 2021, Latino income in the U.S. amounted to $2.5 trillion and grew at a rate of 4.7% compared to 1.9% for non-Latinos. Measured by GDP, the U.S. Latino economy would rank as the world’s fifth largest.
  • Its growth comes from its youth, its labor force participation, educational attainment, and income growth.The most common age range is 10-to-14 years, compared to 60-to-64 years among non-Latinos. The majority are under 25 years.
  • From 2010 – 2021, the Latino population surge constituted 52% of the total U.S. population growth during that time, translating into a 24.1% increase in the Latino population, compared to a 4.3% rise among non-Latinos.
  • From 2010 – 2021, the share of U.S. households identifying as Latino has risen from 11.6% to 14.4%.
  • From 2010 – 2021, the number of individuals holding a bachelor’s degree or higher increased by 6.8% on an annualized basis, compared to 2.8% for non-Latinos.

“The power and influence of the U.S. Latino cohort gives America a growth engine unlike any other country in the world. The new data is the clearest sign yet that the U.S. economy will be highly depending on participation from the U.S. Latino cohort,” said Sol Trujillo, chairman and co-founder of LDC and L’ATTITUDE.

L’ATTITUDE, which runs through Sept. 30,  is the largest business event in the country focused on “The New Mainstream Economy”  and provides a national platform showcasing the economic leadership of U.S. Latinos in business, media, politics, science, and technology.

Download the report here.

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3

Terran Orbital raises $32.5M in public offering

Terran Orbital, the Boca Raton-based publicly traded global leader in satellite-based solutions primarily serving the aerospace and defense industries, closed a $32.5 million public offering to secure additional capital for the business.

Terran Orbital sold 23,214,290 shares of common stock and warrants at a combined public offering of $1.40 per share, according to a U.S. Securities and Exchange Commission filing. The company plans to use the proceeds “for general corporate purposes, including capital expenditures, working capital, research and development, and general and administrative expenses.”

Founded in 2013, Terran Orbital provides end-to-end satellite solutions by combining satellite design, production, launch planning, mission operations, and on-orbit support to meet the needs of the most demanding military, civil, and commercial customers.. It went public in 2021 in a $1.5 billion SPAC deal. merging in with blank check firm Tailwind Two Acquisition Corp.

In February, the firm entered into a $2.4 billion contract to build satellites for Rivada Space Networks, a subsidiary of wireless technology firm Rivada Networks. The deal was Terran Orbital’s first large commercial contract, after previously working with the U.S. Department of Defense.

4

UKG ranks high for women in workforce

UKG, a leading provider of HR, payroll, and workforce management solutions, is one of America’s Best Employers for Women, according to Forbes. The Weston-based company ranked #2 in the IT, Internet, Software, and Services category and #25 overall of 400 U.S. companies across all industries. The honor comes after Newsweek named UKG one of America’s Greatest Workplaces for Women, and it follows UKG also ranking on the Forbes America’s Best Employers for Diversity 2023 list.

Among the total UKG global employee population, nearly half (46%) identify as women and 42% hold leadership positions. The company has set a number of representation goals for the coming years, including to achieve 44% global gender leadership representation of women and 38% global gender representation of women in technology roles by 2026. Currently, 35% of women at UKG hold technical roles.

Women from across UKG are encouraged to join the company’s various employee resource groups.. Throughout the year, its more than 3,000 members worldwide — which includes male allies — learn from career development workshops, hear from guest speakers, and participate in various networking and philanthropic events. UKG also recently launched the State of Belonging, Equity, and Impact at UKG website. Read more in South Florida Tech Hub.

5

Global Ventures honored by international association

The Research Park at Florida Atlantic University received a 2023 Excellence in Economic Development Silver Award from the International Economic Development Council (IEDC). The award was bestowed specifically for the Global Ventures at Florida AtlanticGlobal Ventures at Florida Atlantic second-stage entrepreneur support initiative in the Innovation Programs & Initiatives category that impacted more than 500,000 residents.

Global Ventures is an international soft-landing center, accredited by the International Business Innovation Association, serving to support second-stage entrepreneurs and their enterprises as they scale-up in South Florida. “We identified a gap in the entrepreneurial ecosystem and developed a program to develop it,” said Andrew Duffell, president of Research Park at FAU. “This award validates our concept and recognizes its successes.”

PLUS

Opportunity knocks

  • Endeavor Miami is accepting applications for the Dell for Startups Pitch Competition. A total of 7 companies will be selected to compete for $10K (1st place) and $5K (2nd place) in credits for Dell Technologies products. Companies must be Florida grown with a non-SaaS business model,  and generating $50K to  $1 million. Apply here by Oct. 4.
  • The Miami-Dade Innovation Authority is seeking applications from early to growth stage startups for its first Public Innovation Challenge. Startups with novel and sustainable solutions for repurposing sargassum seaweed are encouraged to apply by Sept. 29.  Find out more here.
  • Miami Dade College AI Center is partnering with Miami DDA and Lab22c to host the event AI Revolution: Embracing the Future of Small Businesses ON Oct. 19 at the MDC AI Center on Wolfson campus. This is an initiative to increase capacity of local small businesses in artificial intelligence (AI) adoption. The 2.5 – 3 hour event aims to educate local businesses owners about the transformative power of AI and how it will reshape the business landscape, especially concerning the majority of small businesses in Miami. More info here
  • Apply to present at the 2024 Florida Venture Capital Conference Feb. 1-2, 2024 at the JW Marriott Marquis in Downtown Miami. The conference attracts over 700 attendees, including 200+ active venture investors. The final application deadline is January 8, but early submissions are strongly encouraged. Find out more and apply here.
  • Dreaming of a tech career? Check out these scholarship opportunities offered by BITE-CON and 4Geeks Academy for Full Stack Developer and/or Data Science and Machine Learning bootcamps. Apply on BITE-CON website here.
  • The Venture Miami Scholarship Fund provides tuition support to provide gap funding for at-need City of Miami residents who have been accepted into STEM or defined-demand occupation programs at participating colleges and universities, including Florida International University, Florida Memorial University, Miami Dade College, and the University of Miami. How to apply: Students who meet the program requirements and are interested in applying to the Venture Miami scholarship are encourage to complete this survey to begin the application process.
  • The Alan B. Levan/NSU Broward Center of Innovation is accepting applications for the 100 Startup Project. Applicants who are accepted will receive a yearlong membership to the Levan Center of Innovation. Apply here.

ICYMI:

Have news to share? Follow Nancy Dahlberg on X @ndahlberg and email her at nancy@refreshmiami.com

Nancy Dahlberg
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