Looking to join Miami’s new tech wave? These founders want to hear from you
It’s the key question Miami-Dade residents are asking about the tech movement to Miami: What does its arrival mean for the rest of us?
Two separate groups of tech founders hope their latest initiatives will help answer that question.
First up: 305 Ventures. It’s a new effort created by four recent transplants to the city to bring the acumen of Silicon Valley to local startups. What started out — and continues — as a dinner series for like-minded Miami-area professionals has now morphed into an investment group looking to place bets on early-stage ideas, via “small” checks of as little as $25,000.
“We’re saying, we can help with your business, and we’re going to promote the hell out of your business in Miami, and invest in it — rather than just talk about being in Miami,” said Ventures co-founder Joey Levy.
Levy, who grew up in Pembroke Pines and dropped out of Columbia University to pursue a prestigious Peter Thiel Fellowship, founded SimpleBet, a new way to place in-game wagers on sporting events. As with some of his other co-founders of 305 Ventures, he has already exited a previous startup and is now looking to deploy the resulting capital to target Miami businesses.
“We all recently came to Miami but we all have relationships from elsewhere,” he said, “so we think a fund could be a great way to accelerate everything happening here. A lot of other great companies and venture capital funds are establishing themselves here, but we’re actively looking for companies that have already been in the grind and may not be getting the attention they deserve.”
Levy also intends to begin holding quarterly “demo days” at local universities to encourage young entrepreneurs to pursue the startup life.
“We just want to be sending the signal that, ‘Hey, you don’t have to do the traditional path’ — and that that non-traditional path is not reserved for someone who went to Stanford or Berkeley. In fact I’d bet on someone in school here just as much as those places, and if anything, someone from here has even more grit and hustle.”
Interested founders should visit JoinThe305.com for more information.
Meanwhile, Pareto Holdings, the new Miami-based startup launching vehicle created by Shutterstock founder and new Miami Beach resident Jon Oringer and his business partner Ed Lando, is accepting applications for a new fellowship. Accepted applicants will participate in a five-day coaching and mentorship program from established entrepreneurs and investors like SoftBank Group International CEO Marcelo Claure, Papa founder Andrew Parker and executives at REEF Technology.
Nadav Ben-Chanoch, Pareto Holdings chief of staff and a Miami native, said the initiative is looking for startup founders from diverse backgrounds who have a demonstrated ability to overcome adversity and persevere. As many as 25 individuals may be accepted.
“We’re looking to bring together a group of founders from diverse backgrounds, not only from a race and ethnicity standpoint but also with various skill sets, both technical and non-technical,” he said.
He agreed that to a typical Miami resident, the impact of the current tech wave is not likely to be immediately felt, though noted it is likely to bring more money into the area.
But unlike previous hype cycles for the city, there is now so much new money coming in that it is likely to leave a lasting impact.
“Ultimately talent follows the money, and a lot of money is now flowing into the city,” he said, noting that investment firms Founders Fund and SoftBank have committed millions locally in some form or another. “Even if some people do physically leave in some way, the presence they’ve created is not going to leave — they’ve already invested time and money.”
As new companies are launched here, jobs — good paying ones — will be created, he said.
“Once you have real companies, it’s not just going to be tech roles. You’re going to have marketing teams, sales teams — it’s not going to only be a real estate, healthcare and tourism economy in Miami.”
This story was originally published April 23, 2021 at 7:00 AM.
