Miami surges into top 30 global startup ecosystems

The Capitolist ^ | June 20th 2023 | Caden DeLisa

[Jacquerie]

The broader Miami-Fort Lauderdale metro region reported $5.5 billion in venture capital last year across 423 agreements, according to the PitchBook-NVCA Venture Monitor, surpassing similarly burgeoning cities like Austin, Texas and Charlotte, North Carolina. The city also saw an increase in deals by nearly 12 percent during a period that saw many investors reserve funds for better economic conditions.

Miami has found particular success in the tech startup marketplace, which Justin Sayfie, the founder of Sayfie Review, punctuated last year with a proclamation that “the 2020s will be to Miami what the 1990s were to Silicon Valley” as municipal leaders, including now-Presidential candidate Francis Suarez, embraced emerging technologies like cryptocurrency and Web3.

Some of the city’s largest tech startups include Insigneo Financial Group and Moonpay, which reported $99 million and $67.2 million in revenue, respectively.

The report comes on the heels of Florida being named the best state in the country to start a business in, with credit lender Capital on Tap, who compiled the ranking, pointing to the state’s 5.5 percent corporate tax rate and abundance of jobs created through startup companies.

[Thunder90]

Proof that conservative policies work. Meanwhile in Newsome’s California...

[entropy12]

Florida tax rates have not changed in a decade or more. CA tax rates are highest ever. So businesses show preference to Florida instead of silicon valley. Florida has zero state income tax for like ever, and all other taxes (property, sales etc) are lower than CA, IL, NY, TX, WA.