‘Moving to Texas’: Why one well-qualified college senior can’t get a Miami tech job
Danay Fernandez has all the qualifications you would hope for in a future technology professional. An internship with IBM. President of TechTogether, a hackathon focused on gender equity in technology. Volunteer work with a national tech nonprofit.
But Fernandez, who will soon graduate from Florida International University, says she has struggled to land a desirable tech job in Miami.
“I get recruiters reaching out on (college recruiting website) Handshake, and I spoke to recruiters at the FIU career fair,” she said. “Only one was from Miami.”
What’s more, she said, the financial compensation of jobs she has seen has not been commensurate with the cost of living in South Florida. Meanwhile, she has received larger offers from places like Texas and Tampa.
The Lone Star State is where she is likely heading.
“I believe I will be moving to Texas, that’s the plan currently,” she said. “My family is in Miami, but the house market is expensive here and the pay is not good. I would only stay here if I got a really good remote offer from a company outside of Miami, since I don’t think I could get that offer from a company here.”
It’s a problem that continues to dog the Miami tech narrative: Despite news of relocations and outsized fundraising rounds, ready-to-access jobs do not yet appear to be materializing en masse here. A look at the job board on Refresh Miami, the area’s premier tech booster organization, shows just 24 jobs, seven of which are either remote-first or based in New York City. And, as previous Tech Trail columns have noted, of the nearly 2,000 jobs promised by firms moving or expanding downtown, fewer than 300 have been created.
Transforming a workforce long reliant on tourism, hospitality, retail and real estate jobs would not be expected to happen overnight. But even engineering graduates like Fernandez continue to struggle.
“We have the talent here,” said John Nykolaiszyn, director of career services at the FIU College of Business. “I think now what you’re seeing is the conversation has finally been laid bare. Companies are importing talent, and people are saying, ‘Why are we doing that?’ We can’t hide from it anymore.”
Nykolaiszyn said larger established local firms like Ryder and BankUnited have set up stronger pipeline networks for college recruiting. The new arrivals, it seems, have not yet done so.
“Established firms, established organizations are going to be able to create and build that pipeline,” he said. “If you look at the profile of some of the new firms or ones growing here, they’re not set up for creating that entry pipeline.”
Miami Mayor Francis Suarez said his legacy stands to be measured by the success of the tech push.
“To put it plainly, if by the end of the ‘How Can I Help Movement,’ Miamians are shut out from the innovation renaissance, I have failed as this city’s Mayor,” he said in a statement. “The Miami community has invested far too much time and energy to get us this far and they will reap what they sowed.”
He also touted the progress that has been made, especially in granting firms access to new sources of funds.
“The entrepreneurial community has done an incredible job of emphasizing funding for Miami-based companies,” he said. “Efforts like SoftBank’s quarter-billion dollar Miami Initiative not only accentuate everyone’s commitment to building a deeply rooted ecosystem, but they highlight the impact we’re already seeing from the work we’ve put in. Companies that have called Miami home for years now have access to talent and capital that didn’t exist even a year ago.”
He continued: “But we can’t just leave it up to them to decide the future of our growth. The single most important thing we can do as a city is bolster our talent pipeline and establish an educational system that feeds directly into these high-paying careers and that delivers equal opportunity to every student.”
There must be more outreach to — and from — local educational institutions, said Cesar Villa-Garcia, an FIU alum and a founder of its Upsilon Pi Epsilon tech network.
“I think the opportunities are starting to materialize, but there’s more work to do to accelerate this process and empower locals to find tech jobs,” said Villa-Garcia, who now works for Microsoft. “Especially entry-level opportunities, which can be difficult to find for young engineers looking to stay in the area.”
Some longtime Miamians in advanced industries are aware of the ongoing challenges. Adriana Cisneros, CEO of Miami-based LatAm giant Cisneros Media, told an invite-only group of Miami innovators this week that the city’s tech ecosystem was still going through “growing pains” despite recent progress.
The event, held Oct. 22 and sponsored by Miami-based venture firm Animo Ventures in partnership with the Knight Foundation, kicked off with some 20 general partners from venture firms meeting with 40 local startups.
Cisneros, who appeared on a panel alongside Nearpod COO and co-founder Felipe Sommer and corporate spend management platform Ramp co-founder Karim Atiyeh, said elected officials are conscious of the dangers of Miami “becoming the next San Francisco,” while urging those in the audience to vote.
Sentiment was further summed up in tweets by Where.By.Us executives Rebekah Monson and Chris Adamo.
“Shout out to @cisnerosadriana for calling for the tech community to vote in local elections and to get serious about solving the housing crisis and transit and vote for leaders who will get the job done,” Monson wrote.
“100%,” Adamo replied. “If you came from SF or NYC your voice matters a ton more here… come join us and get shit done. The loudest person wins here.”
Blockchain startup QuickNode raises $35M
Miami-based blockchain startup QuickNode announced last week it had raised a $35 million “Series A” investment round led by venture giant Tiger Global with participation from reddit founder Alexis Ohanian’s Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam and Anthony Pompliano.
The news follows the company’s Seed Round announced in March 2021 for $5.3 million, as well as other strategic investments, bringing its total capital raised to just over $45 million.
QuickNode works with companies to integrate their products into blockchain infrastructure.
“Blockchain and cryptocurrency are eating the world,” said Alex Nabutovsky, co-founder of QuickNode, in a statement. “We are seeing businesses from all verticals looking at blockchain enabled software roll out in 2022 and beyond. It’s beautiful to see the foundation of the new internet happening right before our eyes.”
The new funding will be dedicated to growing the company’s services, especially the ability to support new chains.
SoftBank hits $100M in Miami investments
Global venture giant SoftBank announced last week it had surpassed its goal of investing $100 million in companies “with a Miami presence.” That includes an investment in cryptocurrency exchange FTX for an undisclosed amount that SoftBank says actually pushes the Miami initiative total above $250 million. Although FTX is now the naming sponsor of Miami-Dade’s marquee arena, FTX does not yet have an office in Miami, though it previously said it would likely open one in the coming months.
This story was originally published October 31, 2021 at 6:00 AM.
