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8+ things to know in #MiamiTech: Miami founder challenges and news from CIC, 4Geeks, FAU, 1789 Capital, Florida Venture Forum, PMWeb, LOVC, Dash & more

Nancy Dahlberg
Nancy Dahlberg
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1

CIC report gets lowdown on Miami founder challenges

Want to know what financial, operational and cultural challenges early-stage Miami founders face? Ask them. Cambridge Innovation Center, or CIC, the global entrepreneurship-focused coworking company with a chapter in Miami, recently interviewed 17 Miami-area founders to find out their challenges, learnings and strategies for success and issued a report.

The study, “Leaders Across Borders,” was conducted earlier this year by CIC in partnership with Rebelius Consulting. The 17 founders interviewed, some of whom are international founders, included Eyal Shats of SimpliRoute, Kerstin Recker of Peli Health, Juan Manuel Barrero of Lazo, and Maxeme Tuchman of Caribu.

Among the challenges, financing without a U.S. credit history, dealing with local regulations, sector-specific laws and tax planning constitute about 40% of the challenges mentioned. About 30% mentioned understanding the local culture and business practices, especially challenging for international founders expanding or relocating to the Miami-Fort Lauderdale metro area. Creating a network, especially in a city like Miami where connections are crucial, constituted about 20% of the challenges mentioned. Respondents described Miami’s competitive landscape as “fierce and with various barriers to entry.”

Among cultural challenges, establishing a reputation in Miami can be difficult, with about  40% of founders saying it is hard to build a reputation locally without pre-existing relationships in Miami. Building a trusted network is especially challenging for international CEOs and founders, the report said. Also, integrating into the broader ecosystem was a significant challenge mentioned.

Perhaps not surprisingly, 21% of the respondents said accessing funding from a bank and other institutions was difficult. Also, the report noted that some people in Miami overcommit and do not necessarily follow through on agreements, leading to “unfulfilled promises and contributes to the perception of superficial interactions.” Find more insights and download the report here.

READ MORE: Expanding horizons: Miami area’s soft-landing services pave the way for international businesses

2

4Geeks’ new initiative focuses on apprenticeships

4Geeks is launching a new initiative: 4Geeks.works, which aims to help close the talent gap in Miami’s tech ecosystemby focusing on apprenticeships. The Miami-based tech training and coding bootcamp company believes apprenticeships will become the de facto standard for hiring early career seekers.

The new program seeks to support hiring companies at every step of the apprenticeship process, including by sourcing talent, supplying comprehensive screening, and with final interview support.

 “At 4Geeks, we understand that finding and training tech talent can be challenging. 4Geeks.works simplifies this process, helping companies identify top candidates and provide meaningful, project based training that benefits both employers and apprentices,” said 4Geeks CEO Marcelo Ricigliano. 4Geeks is holding an event to introduce the new initiative on Dec. 5; find out more and register here.

READ MORE: Local teacher excels in 4Geeks bootcamp and lands new opportunity in data science and machine learning

3

Trump Jr. joins Palm Beach VC firm

President-elect Donald Trump’s eldest son, Donald Trump Jr., is joining Palm Beach venture capital firm 1789 Capital, which focuses on investing in conservative companies, Reuters reported. 1789 Capital has about $150 million assets under management.

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As a partner, Trump Jr. is expected to help 1789 Capital with investments in companies in the “parallel economy” of companies that espouse a conservative world view, and help raise capital for the fund, Reuters’ sources said. Trump Jr., a close adviser to his father, will add heft to 1789 Capital at a time when the conservative movement is seeking investments in conservative companies. 1789 Capital’s investments include $15 million in TV personality Tucker Carlson’s newly formed company “Last Country Inc.”

4

Florida Venture Forum alumni companies have raised $30B in capital

Florida Venture Forum,  a statewide support and member organization for venture capital and private equity professionals and entrepreneurs, announced that companies presenting at its conferences and events have collectively raised over $30 billion in capital. This achievement nearly doubles the previous total reported in 2016, and underscores both the maturation of Florida’s venture market and the impressive growth of startups showcased at Forum events, the Forum said.

“We often say, ‘founders first,’ and this principal guides all we do at the Forum. The success of our alumni companies has not only bolstered Florida’s economy but also established Florida as a ‘must cover’ state for VC firms everywhere,” said Kevin Burgoyne, the Forum’s president and CEO.

The Florida Venture Forum is now accepting presenter applications for the  2025 Florida Venture Capital Conference  March 3-5, 2025 at the Loews Coral Gables.  Apply here. Since 1984, more than 2,000 companies have presented at Forum events. 

5

Shark Tank judges to participate in FAU’s CrocTank Dec. 4

The judges of ABC’s “Shark Tank” will be coming to Florida Atlantic University for its very own CrocTank, the first-of-its-kind live event on Wednesday, Dec. 4 from 3 to 6 p.m. at the  FAU Student Union on the Boca Raton campus.

The event will begin with a moderated fireside chat between the judges – venture capitalist Kevin O’Leary, FUBU apparel founder Daymond John, and cyber-tech giant Robert Herjavec.  Immediately following the talk, the judges will preside over an in-person business pitch competition similar to that of their hit TV show, in which four contestants selected from FAU’s Adams Center for Entrepreneurship, Tech Runway and the Research Park at FAU will present their ideas in hopes of securing funding from one of the “sharks.”

 “It is a wonderful opportunity to showcase the talents of our students and the entrepreneurial spirit found in the Florida Atlantic University ecosystem,” said Vegar Wiik, assistant dean of Executive Education  in the College of Business. CrocTank is open to the public and tickets can be purchased here.

READ MORE: FAU’s Ryan Lilly is on a mission to make South Florida a gateway for international tech innovators and Approaching 40th anniversary, the Research Park at FAU drives innovation across South Florida

6

PMWeb attracts strategic growth investment

PMWeb, creator of all-in-one construction management software, today announced a strategic growth investment from Bregal Sagemount, a leading growth-focused private capital firm. Terms of the transaction were not disclosed.

The company also announced that Founder and CEO Marc Jaude will be promoted to Chairman of the Board of Directors and that Huw Roberts has been appointed CEO. Roberts joins after having most recently served as CEO of Graphisoft and throughout his career he has held pivotal executive positions at prominent technology firms, including Bentley Systems, Accruent, Nemetschek, and BlueCielo.

Founded in 2007 and headquartered in Miami, PMWeb offers a comprehensive web-based solution that enables complex asset owners to plan, construct, and manage individual assets and portfolios spanning the full asset lifecycle.

7

More news to note

  • Las Olas Venture Capital recently announced its participation in Orlando-based OneRail‘s $42 million Series C. LOVC has participated in every found, starting by leading OnRail’s seed round in 2020. “From the very beginning, we’ve believed in [founder Bill Canania’s] vision to revolutionize last-mile delivery. Their relentless innovation and exceptional execution have validated our initial conviction and exceeded all expectations,” said Dean Hatton, Founding Partner at LOVC and OneRail board member. OneRail says its service now reaches over 400 cities in the U.S. and Canada and is handling more than 250,000 deliveries a day for around 50 brands.
  • DASH, a Miami-based proptech platform that aims to transform how residential real estate agents access and share new development opportunities, recently launched IDX feature DASH eXchange. DASH eXchange allows real estate agents to seamlessly integrate a live feed of up-to-date new development properties from the DASH database directly onto their own websites.
  • Eight University of Miami students had the opportunity to showcase their startups at the eMerge Startup Roadshow Nov. 12 at an event hosted by University of Miami’s Launch Pad. Read moore about the eight companies here.

8-PLUS

Opportunity knocks

  • Founders, apply to join the eMerge Global Startup Accelerator + Showcase, an opportunity to take your company to the next level. eMerge Americas offers startups the opportunity to debut and share their transformative ideas by providing access to resources, investors, curated bootcamps, mentors, and networking opportunities with global enterprises. Learn more and apply here by Dec. 31.
  •  The Alan B. Levan | NSU Broward Center of Innovation announced its next Veterans Facilitated Business Model Canvas Program, which is offered at no cost to veterans through  support by Veterans Florida. The 10-week program, meeting on Tuesdays from 4:30pm to 7:00pm starting on January 14 allow veterans with a business idea to validate their idea and begin building out their business plan to create a startup. The sessions are facilitated by experts and serial entrepreneurs. Apply for this program here. The deadline to apply is December 6.
  • The SMB Growth Lab, presented by eMerge Americas and powered by JP Morgan Chase, is an opportunity for SMBs located in Miami Dade County to gain access to cutting-edge digital tools, comprehensive training, and exclusive connections with key players in the tech ecosystem—all designed to propel your business to new heights. 50 SMBs will be selected for the cohort. Learn more and apply here by Dec. 31.
  • If you’re a job seeker, an industry expert, or higher education professional, the Tech Talent Fest on Nov. 18 at FIU will offer interactive workshops, panel discussions, and presentations focused on tech recruitment, workforce development, and job placement. The Tech Talent Fest will be presented by South Florida Tech Hub and Miami Tech Works. It’s free for job seekers. Find more information and register here.
  • Endeavor Miami  is accepting applications for its next ScaleUp Program. Apply for ScaleUp 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 featuring startup news, tech job opportunities and events. Thank you for supporting Refresh Miami.

Nancy Dahlberg
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