Miami is a center of tech innovation. The Knight Foundation has bet $15 million on it | Opinion

In the midst of the pandemic, millions of Americans realized they could work just as well —and sometimes better — from home instead of commuting into the office. And many also discovered that work from home could be work from anywhere, so why not be somewhere warm, with ample access to recreation, outdoor dining and the ocean?

Undoubtedly this has contributed to the “Miami moment,” with breathless national headlines about startup founders, venture capitalists and tech titans relocating to Miami. But the truth is that this moment was a long time in the making, the product of long-term investments in Miami’s homegrown tech and entrepreneurship community.

It wasn’t that long ago when Miamians looking to build a career in tech felt pressure to skip town for greener pastures like New York or the Bay Area. It fills me with pride to see that the switch has been flipped, with hometown entrepreneurs attracting national talent and venture capital, and many who moved away for opportunity coming back home to find it.

The idea of Miami as a tech town used to strike people as crazy, just like the idea of Miami as an art town — and we all know what happened there. It’s just taken a bit longer to put our city on the tech map, nationally and globally.

Local tech entrepreneurs, investors and innovators received critical early support from the philanthropy sector, in the form of convenings, coworking spaces and investment. At the same time, Miami leaders understood the importance of creating a city where people would want to live and play. The twin bets on Miami as tech hub and art hotspot have reinforced one another and helped transform the city we live in.

Miami stands alone among major American cities in building so many new, flagship arts and culture institutions in the past 20 years. The vibrancy and innovation of the arts and the passion and creativity of our city’s diverse population have supercharged local tech. Money isn’t everything, but venture capital in our region has jumped from $600 million in 2013 to $2.4 billion in 2019.

The influx of money and talent into Miami may make it the envy of other cities, but that’s not enough on its own. To really be successful as a city, we need to develop a deep talent pool for industry while creating opportunities for all of Miami’s diverse communities. With a new $15 million investment from Miami’s Knight Foundation, three major local institutions are investing in this future and the people of Miami.

Florida International University will grow the faculty and student body of its computer science and engineering school by nearly 70 percent and build new facilities to accommodate this growth. The university already is top in the nation for the number of engineering and computing degrees awarded to Latino students, and sixth in degrees awarded to African-American students. Over 80 percent of its more than 60,000 students hail from greater Miami.

Meanwhile the University of Miami will expand the faculty at its Institute of Data Science and Computing, which conducts cutting-edge research in in-demand fields. And Baptist Health will launch a fellowship in healthcare-technology innovation out of its Miami Innovation Institute, which works to turn ideas into viable products that improve lives.

These investments in the people and future of Miami will supply the talent pool for generations of homegrown startups and help ensure that Miamians of diverse backgrounds have access to all levels of the burgeoning tech economy. Experience has shown that investing in the energy, innovation and drive of the people of this city is a smart bet.

Thanks to planning, effort and the spirit of its residents, Miami is uniquely positioned to take advantage of this moment. I trust and hope that other funders and investors will continue providing the necessary resources for Miami to further establish itself as a world-class city for tech and innovation.

Raul Moas is Miami program director at the John S. and James L. Knight Foundation.

This story was originally published February 24, 2021 at 6:00 AM.