Will the Miami tech explosion continue in 2022?
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South Florida 2022 Outlook
A look at the issue South Florida will face in the areas of real estate, technology, schools, Latin America and the Caribbean, major events, sports, courts and politics in the upcoming year.
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It was the blockbuster Miami tech year of Microsoft arriving, Miamicoin emerging, cryptocurrency conferences drawing crowds and homegrown companies gaining billion-dollar valuations.
A confluence of factors in 2021 drove unprecedented growth in Miami’s tech sector. A steady stream of companies that had already staked out the region for growth early in the pandemic turned into an avalanche of newcomers from New York and California, as COVID-19 bore down. For social, health, political and economic reasons alike, they zeroed in on what the Magic City had to offer.
Can the industry perform a stellar encore in 2022? The Miami Herald asked five people inside and outside the sector. Their responses are condensed and edited for clarity.
Jack Abraham, Atomic CEO and managing partner
The Miami tech movement is here to stay as an important economic force and a breeding ground for entrepreneurship. The city will continue attracting more venture and tech companies, and in 2022 we’ll see some large tech companies putting down roots here. That’ll prompt a network effect of talent, capital and opportunity that will compound over time. At Atomic, we’re working with an incredible group of founders working on the next set of billion-dollar tech companies.
Lisa Nuessle, senior growth lead of Ironhack
It’s clear the city has been a good fit for the first wave of technology companies setting up shop. Next year will be all about acceleration. If we continue to welcome new and innovative companies with our community-first approach, I don’t see how Miami tech can be stopped.
David Britez, principal Empac Industrial; owner/arborist at Lucas David Landscape in Kendall
I’m old enough to remember the 2008 housing market collapse. The optimism and exuberance over tech and whether the broad growth can keep up the rapid pace another year, rather than having a big letdown, brings a little worry that we’re going to be left holding some of these chips.
Evan Leaphart, co-founder of Black Men Talk Tech conference; founder of Kiddie Kredit
Fast growth and expansion will continue. Tech in Miami is beyond being a fad. We are going to see the capital investment pay off. One problem though is that the cost of living in Miami used to be attached to Florida as a whole. Rents are astronomical, so wage increases are going to be vital to see across the board.
Cesar Villa-Garcia, program manager at Microsoft Azure IoT; founder, alumni adviser at Upsilon Pi Epsilon at Florida International University
An incredible amount of momentum has grown in Miami over the past year. Leadership in both the public and private sectors has risen to the challenge of fostering a tech ecosystem, leveraging our local resources, providing funding, fostering talent and creating opportunities for Miamians. As someone who left the city in search of tech opportunities, seeing this progress makes me really optimistic for the future of Miami as a tech hub.
This story was originally published December 28, 2021 at 8:33 AM with the headline "Will the Miami tech explosion continue in 2022?."
