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8+ things to know in #MiamiTech: The state of Miami VC – plus news from Insightec, Clean Skin Club, Points4Purpose, Tech Equity Miami, FIU, FAU, Consulting IQ, Dealroom & more

Nancy Dahlberg
Nancy Dahlberg
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We hope everyone had a terrific Thanksgiving and are resting up for Art Week!

1

Miami venture capital in 4 charts by Dealroom

According to Dealroom’s data, fintech currently is the Miami-Fort Lauderdale’s leading sector by dollars invested, followed by media, health and gaming. VC dollars invested in fintech make up 25% of all dollars in Greater Miami’s startup ecosystem; while across the US, the fintech sector represents 14% of all dollars. What’s more the Miami metro ranks No. 5 nationally for deal count, and the size of Series A rounds compares favorably to other tech hubs.

Here are screenshots of four charts found on The Miami Tech Dashboard powered by Dealroom, which you can find on Refresh Miami by selecting Ecosystem and then selecting Curated Content on your computer. The information is real-time, and there is much more about funding rounds, exits, startups and investors can be gleaned from the dashboard. Be sure to investigate the Investment Heatmap, too.

READ MORE: Miami metro makes US’s top 10 for VC activity, luring $1.37B in 1st half, eMerge Insights finds

2

Insightec receives a key FDA appproval

Insightec, a global healthcare company on a mission to transform patient care with focused ultrasound, recently announced the dual achievement of U.S. Food and Drug Administration approval and CE Mark of its Exablate Prime system with certain Philips MR systems. This approval expands the accessibility of non-invasive MR-guided focused ultrasound treatments for patients and healthcare providers for the Miami-based company founded in Israel. The approval allows the use of Insightec technology with certain MRI scanners made by medical technology giant Philips.

“This is the result of a dedicated collaboration between Insightec and Philips,” said Insightec Chief Executive Officer and Chairman of the Board Maurice R. Ferré, a serial entrepreneur who previously co-founded Mako Surgical, a robotic surgery company acquired by Stryker for $1.6 billion in 2013. “We are proud of adding Philips to our extended family. Our goal is to make these groundbreaking solutions accessible to more treatment centers, ultimately benefitting patients with cutting-edge care.”

Focused ultrasound, which was pioneered by Insightec, is FDA approved to treat essential tremor and some symptoms of Parkinson’s disease. The procedure is performed in a single, outpatient procedure with many patients showing immediate improvement with minimal or no complications. In the future, the technology could be used to treat Alzheimer’s and other diseases.

In June this year, Insightec raised $150 million in an equity round led by Fidelity Management. The business has secured more than $800 million in equity and debt financing since its founding.

3

Weston skincare startup raises $32 million

Clean Skin Club, a Weston-based brand at the intersection of skincare and hygiene, recently raised $32 million in funding. The round was led by Astō Consumer Partners and Amberstone. The company intends to use the funds to accelerate its expansion into brick-and-mortar retail channels, new product development and investment in talent.

Led by CEO Ben-David Imberman, Clean Skin Club is a skincare brand providing products that enhance skin health while simplifying routines, using natural, vegan, and cruelty-free materials, and designed with sustainability in mind to minimize environmental impact without ever compromising on quality. Founded in 2019, the brand offers their flagship Clean Towels XL, a dermatologist-approved, single-use and 100% USDA bio-based facial towel.

4

Points4Purpose expands to Miami market

Points4Purpose  announced the launch of its AI-powered CommunityRewards loyalty program in the Miami market. The program enables shoppers to earn cashback on qualifying retail purchases and micro-donate a portion of their earnings to the charity of their choice. With over 7,000 online and bricks and mortar stores and over 1 million US registered charities active on the platform, CommunityRewards is on a mission to transform everyday spending into opportunities for both personal fulfillment and charitable giving powered by encrypted cardlinking technology, generative AI and big data.

 “CommunityRewards is delivering a first-of-its-kind program that infuses micro-charitable donations into regular, everyday financial transactions,” said James Trocme, Chief Operating Officer at Points4Purpose Inc. Over the past 12 months, Points4Purpose has invested in excess of $1 million into the platform.


Points4Purpost is launching in Miami with four featured charities that support women, health, animals and childhood education:  Miami-Dade Animal Services, JuanFe Foundation, 305 Pink Pack and the Miami Beach Chamber Education Foundation. The company is partnering with the Miami Beach Chamber of Commerce (MBCC) and the Women’s Chamber of Commerce of Miami-Dade County to enroll local businesses into the CommunityRewards program. Shoppers can sign up for free online at https://miami.communityrewards.store while businesses interested in joining as a premiere business partner can fill out this form. Charities can also join for free by completing this form. 

5

Tech Equity Miami releases impact report       

Johanna Mikkola, CEO of Tech Equity Miami, shared highlights of its first impact report.Tech Equity Miami is a funding consortium that aims to deploy $100 million in philanthropic funds over five years into organizations and initiatives that remove barriers and create opportunities for residents. To date, consortium members, including JPMorganChase and Knight Foundation, have committed over $70 million and have deployed $63 million across 14 initiatives.

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Those 14 initiatives have supported 255,000 community members across South Florida via designated programs and consortium efforts, she said. That includes 12,000 youth that were exposed to STEM education and experiences. What’s more, 3,000 new tech-enabled careers were created. “This incredible journey has shown the power of partnership and collaboration in action. Since launch, we’ve worked together to drive transformative change in Miami’s tech ecosystem,” said Mikkola on LinkedIn. Mikkola, an entrepreneur, was appointed CEO of Tech Equity Miami earlier this year.

Tech Equity Miami’s work also supports digital transformations for small businesses, and SMBs Tech Equity and its partners worked with grew revenue by an average of 40%, the report said. To help bridge the digital divide, more than 200,000 homes have been connected to broadband since Tech Equity Miami was founded in 2022.

“Together, we’re proving what’s possible when we collaborate to create opportunity and equity. While we celebrate these achievements, the report also highlights ecosystem challenges. There is important work to be done—and with that, an even greater opportunity to make an impact,” Mikkola said.

View the report here.

6

FIU ranked nationally for entrepreneurship programs

The graduate and undergraduate entrepreneurship programs at Florida International University, which include programs at FIU Business, have again been ranked among the top 50 entrepreneurship programs in the U.S., Canada, Mexico and Europe. The rankings, released in November, were developed through a partnership between Entrepreneur magazine and The Princeton Review. The FIU graduate program is ranked No. 31, and the undergraduate program is ranked No. 46. Nearly 300 colleges and universities were considered for the 2022 rankings, with the top 50 being ranked.

The rankings are based not only on the university’s entrepreneurship programming, but also its graduates’ success rates in the business world, the number of mentors available for students and more.

FIU Business offers entrepreneurship classes at both the graduate and undergraduate level. Programs include a minor in entrepreneurship for non-business majors, an entrepreneurship specialization in the Professional MBA Online program and a Certificate in Entrepreneurship program. The FIU rankings are also based on entrepreneurship offerings, initiatives and other information from the FIU Business, StartUP FIU, the Pino Global Entrepreneurship Center, the Florida Small Business Development Center at FIU, the College of Communication, Architecture + The Arts and Blackstone LaunchPad at FIU.

7

A double dose of FAU news

A new office being established at Florida Atlantic University aims to capitalize on the economic benefits of Florida’s ocean and coastal resources. 

Last month, Gov. Ron DeSantis signed into law an education bill (HB 1285) that includes the creation of the Office of Ocean Economy. Housed at FAU, the office is tasked with connecting “the state’s ocean and coastal resources to economic development strategies that grow, enhance, or contribute to the ocean economy.” 

Colin Polsky, founding director of FAU’s Center for Environmental Studies, will lead the new office.

Also, researchers from Florida Atlantic University’s College of Engineering and Computer Science have secured an $818,396 grant from the National Science Foundation  for a project titled, “Development of a School of Robotic Fish for Research and Training on AI Biomimetics and Multi-modal Communications.” The project is an effort by researchers from the Center for Connected Autonomy and AI (CA-AI) and the SeaTech Institute at FAU .

For the project, researchers will create a multi-agent system initially made up of three underwater vessels. These vessels will be equipped with advanced communication systems that use both light and sound to communicate underwater, along with a buoy that acts as a command sea surface center and Internet gateway, capable of both gathering data and remotely communicating with the underwater robots. This research initiative delves into three areas: bio-inspired propulsion that mimics how schools of fish move, artificial intelligence to improve underwater mobility, and new underwater wireless networking strategies designed specifically for underwater mobile settings. Read more here.

8

Consulting IQ partners with eMerge Americas’ SMB Growth Lab

Consulting IQ, a digital business platform for companies by combining AI-driven tools and predictive analytics with experienced executive consultants, announced a strategic partnership with eMerge Americas. The company will join as a partner for eMerge’s SMB Growth Lab, powered by JPMorganChase. This initiative presents a transformative opportunity for small and medium-sized businesses  in the Miami-Dade area to access digital tools, comprehensive training, and networking opportunities with key players in the tech ecosystem.

“We look forward to assisting the region’s small and medium-sized businesses to unlock their full growth potential,” said Diego Medone, CEO of Consulting IQ. Medone will host an in-person workshop at Northeastern University in Miami on December 12 as part of eMerge’s “SMB Growth Lab: Open-Session Workshop #3.” This session will focus on how SMBs can leverage the platform to tackle their daily challenges and achieve their goals. If you are interested in participating in the workshop, you can register for free here.

READ MORE: Consulting IQ’s Diego Medone is using AI to help SMBs thrive in an uncertain world

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.
  • Endeavor Miami  is accepting applications for its next ScaleUp Program. Apply for ScaleUp here.

ICYMI:

Have news to report? Email Nancy Dahlberg at [email protected] 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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