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8+ things to know in #MiamiTech: A new Micro Center store, a possible Vanderbilt campus, plus news about Betr, SAFEs, Cloudbreak Health, C3 Complete, Latinx/e Startup Hub Tour & more

Nancy Dahlberg
Nancy Dahlberg
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1

Micro Center opens in Mall of the Americas

Micro Center, a popular computer and electronics superstore, opened its first Florida location at the Mall of the Americas, in the old Tiger Direct location. Hundreds of people, including a number of Miami tech executives from AMD, Dell, Origin PC, Microsoft, Amazon Web Services and Venture Miami, came out for the opening day ribbon-cutting and festivities.

The 40-year-old brand headquartered in Ohio is expanding across the US with stores selling the latest computers and accessories, 3D printers, graphics cards and CPUs as well as offering classes and repair services. Their customers include people who want to build their own PCs, gamers, small and medium sized businesses, and startups.

The Miami opening at the 37,000 square foot store, located at 7795 W. Flagler St., is the brand’s 28th opening and comes just two months after the opening of Micro Center Charlotte. The Miami store opened its doors in a soft opening in mid-August.

2

Vanderbilt seeks to put 2nd campus in West Palm

The Palm Beach County Commission is negotiating a deal with Vanderbilt University to build a graduate campus in downtown West Palm Beach, the South Florida Business Journal reported this week.

The West Palm Beach campus – envisioned to be about seven acres — would have about 100 faculty and 1,000 students, and would focus on business, artificial intelligence/computer sciences and an innovation hub where local businesses could interact with students and faculty.

Vanderbilt Chancellor Daniel Diermeier said the campus would conduct research, attract talent from all around the country and across the world, and engage with local organizations for projects that would benefit the community. “This will advance West Palm Beach and Palm Beach County overall as the leading destination for talent and economic activity,” Diermeier told the Business Journal. Read more here.

3

Betr acquires key sports gaming technology

Miami-based Betr Holdings, a leading sports gaming and media startup, has acquired a license to Huddle Tech’s sports gaming technology, allowing Betr to utilize and build upon the IP to power the company’s sports gaming platform. This license allows Betr to fully leverage Huddle Tech’s advanced technology stack, which includes best-in-class odds-making, risk and trading tooling, and content that spans Same Game Parlays (SGP), Same Game Parlays Plus (SGP+), micro-markets, player props, futures, exotics, and traditional markets like moneyline, point spread, and over/unders – with all capabilities spanning both pre-match and in-play.

Betr has already integrated Huddle Tech’s software in its new sportsbook platform, which remains on track to launch ahead of the 2024 NFL season. The new Betr Sportsbook will initially launch in Ohio and Virginia, where the company had been operating its beta sportsbook product. Betr has received temporary sports wagering licenses in Indiana and Maryland, and has secured market access for sports wagering in Pennsylvania, Colorado, and Kentucky.

“We expect this transaction to be transformative for Betr, as we now have accelerated our product roadmap by years, have vertically integrated our product and therefore have further improved an already strong gross margin profile for our business, and will be more advanced or at least on par from a sports gaming content standpoint than our competitors,” said Joey Levy, Founder and CEO of Betr. “We now have the capability to build our own product and technology and are no longer reliant on third parties in a significant way.”

 4

Miami ranks in top 10 for SAFE investments

Recent venture data on pre-priced rounds from Carta highlighting the top US cities where founders are securing funding using SAFEs and convertible notes shows that Miami lands at No. 6.

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The Bay Area leads the list with $1.57 billion raised, followed by New York with $776 million and Los Angeles with $383 million between January 2023 and May 2024. Boston and Seattle round out the top 5. Miami startups raised $155 million in SAFEs and convertible notes.

 Looking at SAFEs vs. convertible notes, the Bay Area and Washington DC both saw 87% of pre-priced rounds structured as SAFEs, followed by Miami at 84% and New York at 81%.

SAFEs continue to dominate the startup fundraising landscape, especially in key innovation hubs. It’s clear that early-stage founders are leveraging these flexible, founder-friendly instruments to fuel their growth, Carta said in its research note.

5

Cloudbreak Health, now called Equiti, makes acquisition

Cloudbreak Health, a Sunrise-based company that specializes in video remote interpretation services for the healthcare industry, acquired Voyce, a tech-enabled language services provider. The amount of the deal was not disclosed.

The acquisition was made in concert with the company’s strategic rebrand to Equiti. These initiatives further enhance Equiti’s service offerings and solidify its position as a leading supplier of language interpretation solutions. Both Cloudbreak’s Martti and Voyce will operate and innovate under the Equiti umbrella.

Led by CEO Maureen Huber, Equiti is a healthcare technology company that supports healthcare providers and underserved populations in achieving optimal health outcomes. It offers comprehensive language access and other solutions tailored to the diverse needs of underserved and limited English proficient populations.

6

C3 Complete acquires tech/telecom provider

C3 Complete, Delray Beach-based provider of technology, telecom, and information security services, acquired TRACI.net, an internet services provider. The strategic acquisition will expand C3’s support team, channel presence, and service portfolio. The amount of the deal was not disclosed.

Led by CEO Rick Mancinelli, C3 Complete is a technology consultancy that specializes in providing relationship-focused solutions to a diverse client base nationwide. It operates a geo-diverse infrastructure offering advanced solutions in infrastructure, virtual desktops, backup, disaster recovery, and more. TRACI.net became an internet services provider (ISP) in 1997, launched its first Hosted VoIP solution in 2004, and today is a  communications consulting and services partner to small and medium-sized businesses.

7

Latinx/e Startup Hub Tour 2024 announces Miami Grand Finale

The Latinx/e Startup Hub Tour 2024, a nationwide initiative celebrating and supporting Latinx/e entrepreneurship, is set to conclude with a grand finale event in Miami on November 13, 2024. This event, co-hosted by Babson College Miami, Mana Tech, and Inicio Ventures, aims to showcase the vibrant Latinx/e startup ecosystem and provide a platform for founders to connect with investors, mentors, and industry leaders.

The Miami event, to be held at the Babson Miami Campus and Mana Tech headquarters in Downtown Miami, will feature an exclusive workshop for selected startups, a pitch competition, panel discussions with successful Latinx/e entrepreneurs, and networking opportunities. “This event is a unique opportunity for Latinx/e founders to gain visibility, access funding, and connect with key players in the startup ecosystem, ” said Carla Curiel, Director of Babson College Miami.

In the pitch competition, five finalists will compete for  $35,000 in non-dilutive cash prizes. The competition is open to early-stage Latinx/e-led startups from the US and Latin America, with annual revenues under $1 million and less than $500,000 in total capital raised. Applications for the pitch competition close on September 13, 2024. Find more information on the event and pitch competition here.

8

eMerge Americas names Partner

eMerge Americas announced that Greg Topalian, chairman of Clarion Events North America and founder of On Deck Ventures, will join eMerge as a Partner and Strategic Advisor. With over 25 years of experience and as chairman of Clarion Events North America, Topalian has been instrumental in leading and scaling some of the most influential trade shows and events across various sectors.

Topalian will work closely with the eMerge Americas leadership team to enhance the eMerge Americas conference’s  global reach, optimize attendee experiences, and expand opportunities for partnerships and collaborations. The annual conference attracts thousands of attendees from around the globe each year.

PLUS

Opportunity knocks

  • The South Florida Tech Hub Hackathon returns Sept. 20-21 with the theme “Civic Hacking: Uniting South Florida Cities.” Projects should address issues faced by South Florida’s cities/counties/municipalities and could include cyber hacking and ransomware, transportation and smart cities initiatives. Teams will collaborate to build a solution to support local South Florida communities and compete for a chance to win cash and in-kind prizes! Find out more and enter here.
  • Endeavor Miami  is accepting applications for its next ScaleUp Program. Apply for ScaleUp here.
  • The Miami Downtown Development Authority is offering $1.1 million in incentives to attract businesses seeking to move to or expand their operations to Downtown Miami’s Central Business District, Arts & Entertainment District or Brickell. The program offers grants up to $25,000 per business for startups, and is flexible to allow businesses to either operate out of a co-working space or lease their own dedicated office space. Grants up to $50,000 are available for mid-size businesses and ground floor retail operators moving into downtown. Learn more here.
  • As part of its 100 Startup Project Scholarship Program, The Levan Center of Innovation is offering 10 entrepreneurs a one-year membership to the Levan Center of Innovation, thanks to the support of Memorial Healthcare System. Apply here.

ICYMI

Have news to report? Email Nancy Dahlberg at nancy@refreshmiami.com and follow her on X @ndahlberg. Subscribe to Refresh Miami’s free weekly newsletter here. Thank you for supporting Refresh Miami.

Nancy Dahlberg
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