Business

Knight Foundation invests in Venture Hive expansion

Venture Hive, founded in 2013, has run three accelerator programs at its downtown Miami entrepreneurship education center.
Venture Hive, founded in 2013, has run three accelerator programs at its downtown Miami entrepreneurship education center.

To provide Miami’s entrepreneurship community with more mentorship and funding opportunities, the Miami-Dade Entrepreneurial Development Organization, a not-for-profit group that promotes entrepreneurship initiatives in Miami, will help expand the Venture Hive accelerator program through a $210,000 grant from the John S. and James L. Knight Foundation.

Venture Hive is an entrepreneurial hub in downtown Miami that is home to 31 companies from 18 countries, and its accelerator program helps entrepreneurs grow their technology businesses in Miami. The program offers selected participants a $25,000 grant, a 13-week intensive mentor-driven accelerator program, and six months of free office space at Venture Hive. In addition, participants are given access to a wide network of leading business professionals, as well as mentorship and funding opportunities.. The next Venture Hive Accelerator Program will begin in January 2016; applications will open in October.

Since its launch in 2013, Venture Hive’s accelerator program has helped establish 10 businesses and more than 50 local jobs. It has supported more than 2,600 hours of coaching and generated an investment leverage of more than 20:1 private-to-public dollar investment, said its founder, Susan Amat, a serial entrepreneur whose goal was to attract and retain top international startups to build on South Florida’s existing strengths, including finance, travel and hospitality, trade and logistics, creative industries and healthcare. Amat was also co-founder of The Launch Pad at the University of Miami.

Venture Hive also houses an incubator and high school entrepreneurship program as well as the Microsoft Innovation Center and pre-accelerator programs for institutions around the world. To learn more about an upcoming Angel Investor Summit in February at Venture Hive and its accelerator program visit: miami.venturehive.com.

This year, Venture Hive also opened an accerator for U.S. veteran-run technology startups; it’s located in Fort Walton Beach.

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