December 07, 2016

Hispanic Small Business Owners’ Secrets to Success

By Gary Garth

Gary Garth HeadshotWe heard a lot during the Presidential campaign about the importance of winning the Hispanic vote. But any campaign strategist knows you can’t paint such a diverse population with one broad brush. The same holds true for Hispanic business owners. The key to growing your customer base is developing marketing campaigns that target specific demographics and drives them to your website and bricks-and-mortar locations. In an age where we’re all connected 24/7 to the Internet and our attention spans are shorter than ever, search engine marketing is the most efficient and cost-effective way to do just that.

Having just advised you not to lump all Hispanics into one category, I will backtrack just a bit to point out there is one generalization that holds true: Hispanics are the fastest-growing segment of our local and national populations.

The U.S. Census bureau reports that Florida’s population grew by 1.46 million people from 2010 to 2015. Hispanics represent 51 percent of that surge. In five years, Florida’s Hispanic population grew six times more than non-Hispanic whites, and more than twice as fast as blacks. Nationally, Hispanics count for 56.6 million citizens. That’s 17.6 percent of the U.S. population, the country’s largest ethnic or racial minority. Local Hispanic small business owners who cater to Hispanic consumers should hear sounds of cash registers ringing (or computer mice clicking) when they see those statistics. Their customer bases are large and still growing.

Of course, thanks to the ubiquity of high-speed Wi-Fi connections and powerful mobile devices, the entire world has become one big consumer marketplace. While this enables local businesses to consider pursuing new customers outside South Florida, it also means they must compete for those customers’ eyeballs with other businesses nationwide and even internationally.

To make things even more difficult, consider this bit of irony: while consumers spend more time online than ever before, they have also never been quicker to hop from web site to web site. Consider these three statistics:

*We've seen a 20 percent increase in mobile's share of online sessions across the web in the past year;

*At the same time, we’ve seen an 18 percent decrease in time spent per visit across the web in the past year. As mobile accounts for more sessions, they’re getting shorter overall;

*But there’s a lot happening in these session: In the past year, mobile conversion rates have increased by 29 percent.

I call these “micro-moments”, and they are critical for brands to win. These are the moments that can keep a first-time customer coming back to your web site, or attract new customers to visit and linger. Search is the top online source used when gathering information about a potential purchase. Google has found that 86 percent of Hispanics use search to gather information, and that 93 percent of that group who remember seeing an online advertisement took action such as visiting a web site.

The challenge for Hispanic business owners is drawing Hispanic consumers to their web sites, and more importantly, how to keep them from leaving. We’ve found that search engine marketing campaigns that target both English- and Spanish-speaking Hispanic consumers yield significantly better returns:

*221 percent increase in click-through rates

*25 percent higher conversion rates

*63 percent lowered cost-per-click

*65 percent lower cost per conversion

An effective search engine marketing campaign leverages Google AdWords to compel consumers to visit a web site. You’re likely familiar with the ads that appear on the tops of your computer or mobile browsers. Those are AdWord ads. You identify which keywords will grab your target customer’s attention as he or she is searching Google. You only pay Google if that person clicks on your ad and goes to your site.

To ensure a high return on your investment, be sure to target the right audience(s) for your market. For example, if you own a surfboard store on Miami Beach that caters to the local Hispanic communities, don’t blanket the entire country. Unless you’re selling surfboards online and shipping them nationwide, don’t bother targeting people shopping for surfboards outside South Florida. Target only the local communities, beaches and cities near your store so potential local clients become aware of your services and generate sales.

AdWords can also provide you with invaluable data on your customers’ behaviors and preferences, and whether you’re getting a good return on your investment. You can do this by implementing Google Analytics, Conversion Tracking or Call Tracking.

Of course, getting people to your web site is just step one. Your landing page must keep them on your site, and compel them to take specific actions such as requesting more information or making a purchase. There must be a strong correlation between the ad that the user clicked and the page on which they land. If users do not find what they expect, your bounce rates will be unacceptably high. Bounce rate indicates the effectiveness of a website in encouraging visitors to stay. A good bounce rate is generally below 60 percent. 

So the benefit of maintaining a high degree of relevance between your ads and landing pages is enormous. On one hand, you enjoy better quality scores and on the other you achieve a higher conversion rate in conjunction with lower bounce rates. This sets you up for an improved ROI on your ad spend.

Done correctly, search engine marketing can be your best marketing tactic for targeting specific audiences within the local and national Hispanic communities. You can set up your campaigns in English, Spanish, by geographical area and even target visitors who have left your site. Search is the most efficient outlet to get measurable and quick results because, unlike most other forms of advertising, you can see in real time how each dollar spent is working (or not) and quickly make minor or major adjustments. 

Finally, be sure to avoid the common mistakes that drive first-time visitors away from your site. Delete or optimize visibly outdated content, modernize tired-looking design, ensure your call to actions are set up properly, and establish your credibility by making sure your contact information is always visible, maintain a blog, and provide easy access to customer service and support resources.

Gary Garth is co-founder and CEO of White Shark Media. He is responsible for guiding the company’s strategy and growth.

December 06, 2016

Argentina to Miami, a bridge worth building (Part 6)

Argentina6

By Natalia Martinez-Kalinina

Miami has a ways to go before we can truly claim the title of regional epicenter, but Argentina has long been recognized as one of the primary entrepreneurial - albeit not particularly stable - ecosystems in Latin America. Figuring out how to support Argentina’s wave of growth and appetite for engagement represents a unique opportunity to add value to the region and truly deliver on our vision as a gateway.

As a first step to test these waters, a group of us came together to co-author a full day of programming within StartupWeekBuenosAires - the largest event of its kind in Latin America-  specifically focused on how to engage with the U.S. ecosystem and market by way of Miami. Ahead of the full agenda being announced shortly, if you are interested in participating or learning more, please fill out this form.

Leading up to the event in December, we will be featuring interviews with a varied range of Argentine entrepreneurs and companies making their way to Miami. The first installments of this series have featured interviews with Balloon Group, Wolox, La Comunidad, and Oasis, Juana de Arco. For the fifth feature, we spoke with Martin Enriquez (pictured above), CEO and Co-Founder of Socialmetrix, an Endeavor company founded in Argentina but whose US expansion has been based in Miami since 2014.  

Tell us about Socialmetrix - how the company emerged, how has it changed over the years?

The idea of creating a company focused on listening to what people were saying online was something that started back in 2006. At the time, I had the chance to work with a very well-known computers brand, who had a major incident with one of their notebooks, and they were very worried about their online reputation and the impact of this episode on this notebook model sales.

After several iterations on the idea, we started up with Socialmetrix in late 2007 (formally in early 2008) in Argentina. Back then, Social Media in Latam was essentially Blogs, Forums and Message Boards. MySpace was kind of the “new thing” but wasn’t mainstream, just a few in Latam used it, and was very tied to the music community.

With a lot of effort, and our own savings invested in the company, by early 2009 we had a first product, and started our sales efforts in the region. We managed to bring a few nice brands as clients in different countries like Mexico, Chile, Argentina and Brazil. At that point the company was a startup completely, we had very little processes, we were learning which kind of professionals we needed to build our vision, and we were a bit ahead of the curve, which sometimes resulted in prospects looking at us as Martians.

All of that was progressively changing, sometimes easy but most of the time we experienced some type of growth pain, which somehow helped us to maintain our focus.

In mid 2009 we participated in La Red Innova, in Madrid, where we received a special mention as one of the most innovative companies in Iberoamerica. Later, in 2010 we were selected Endeavor Entrepreneurs by the Endeavor Foundation in Pebble Beach, CA, a very meaningful milestone for Gustavo Arjones, my co-founder, and myself. In 2011 we decided that we needed to raise capital to grow, and after having conversation with several VCs we partnered with DMGT, and since then have them as partners in the company.

Where do you see the growth and future of the company in the next years?

There is no doubt that Social Media reshaped the way we communicate with others and with brands or companies. This transformation is still happening, and there is an enormous opportunity to extract value from these conversations, helping companies to listen to their audiences and helping everybody else to get better products, better services and better overall experiences. I see Socialmetrix right in the center of this transformation, developing technology and actionable knowledge.

When did Socialmetrix come to Miami, and why?

We came in the second half of 2014, pursuing regional and multicultural accounts that were managed or lead from here, or other cities nearby.

What opportunities are you looking to find here?

A significant portion of Global Corporations have their Latin American and Multicultural Headquarters based in Miami or nearby. Being here enable us to create a conversation with these brands, understand their needs for these markets and provide a tailored set of solutions, leveraging our unique knowledge and experience in the US Hispanic market and Latin America.

What risks may you come across?

I think the biggest risk is to be too naïve. To get to Miami with the idea that the US market is open for business just because you are here, is a misinterpretation and an exaggeration of the opportunity. There is no doubt that there is an opportunity and an advantage being here, but materialize the advantage and the opportunity in form of new revenue for your company takes a lot of effort and money. The US market isn’t inexpensive, especially if you must hire top execs to execute your business development plans. Good professionals are expensive (compared to our countries in Latam) and they also require time to produce results.

So, coming to the US without having a clear understanding of costs and timing may become a very bad idea for the company.

What is the evaluation and product release/sales process in the United States?

I can only speak from my experience in my own vertical (SaaS for Social Media Listening and Analytics), having said that, although the US market is more competitive in terms of quantity of players offering solutions, and that the clients tend to be a bit more “experienced” than in Latam; the product evaluation process itself, in the US, is not that different from Latam.

Maybe this is what we experienced in Socialmetrix because in either region we engage with large corporations, who tend to have similar procurement processes no matter the country.

And so, selling to the BtoB segment in Latam is similar to selling to the BtoB segment in the US (process wise), there are other nuances to have in mind when selling in the US; like the quality of your collateral materials, the client’s toleration to errors, and the client’s expectation for the quality of a presentation/presenter.

Any lessons or advice for companies exploring similar moves?

I would suggest a few things that are obvious but in the heat and rush of your day to day may get forgotten:

*Make sure you have a clear business case to come to Miami, with a meaningful potential for your company.

*Spend as little as possible during your first months here while you research the market, get to know people and start building your network.

*Since day 1 dedicate yourself to business development. This single activity will give you a clear understanding of the market and your real opportunity here.

*Get your marketing materials revised by a native English speaker with experience in your industry. Miami might be considered “the capital of Latin America” but in business everybody speaks English and expect to have materials and documentation in this language.

*If you can afford it, and after validating yourself that there is an actual business opportunity, hire a native Business Development professional with experience in your industry and an existing client base.

*Make sure you run your numbers and that you have enough financial resources to sustain this new venture for at least 18 months (ideally 24 mo).Plan beforehand, what will you do and how will you do it if sales don’t take off and the opportunity don’t materialize as new revenue.

From the perspective of the Latin American entrepreneur, what do you expect as a contribution from Miami?

Although there are a few initiatives putting together professionals from Global Corporations who are based in Miami, I still feel the lack of a more connected entrepreneur community with corporations, and some sort of incentive for these corporations to create links with local entrepreneurs.

From this same perspective, what do you think Miami can do better to become a true value-adding "hub" in the region and support entrepreneurs who come here?

I think Miami could “teach” Latin American Entrepreneurs how to do business in the US. The city itself is a crossover of cultures, that, well managed, could add great value for those entrepreneurs who don’t have the experience or the knowledge about the US business culture.

Organizations like Endeavor have talked a lot about the Argentine model (not just the shortcomings, but the great achievements and opportunities). What do you think Miami can learn from Argentina’s case?

I think that Argentina, with its own shortcomings, has done a good job at creating a small but true entrepreneurial ecosystem around Tech, where successful entrepreneurs are now investors and advisors, and are also helping new entrepreneurs build their companies.

Miami probably still needs to figure out which industry / vertical will have as a main focus, and then help entrepreneurs build a few success stories around that. There’s probably no magic recipe, it takes time and a lot of people involved, pushing for (more or less) the same outcome.

Do you see potential for collaboration and bridge-building between the entrepreneurial ecosystem and the creative economies in Buenos Aires and Miami? Why or why not?

If Miami can effectively become a meaningful stage for Latin American entrepreneurs, where they can showcase their companies to the rest of the US, and maybe other developed countries, I believe there is a great opportunity for collaboration.

Natalia Martinez-Kalinina is the General Manager of CIC Miami and the Founder of Awesome Foundation MIAMI. If you are an Argentine company looking to expand to Miami or a Miami-based entrepreneur/investor looking to connect with the argentine ecosystem, please reach out to Natalia at martinez@cic.us

Argentina6b

December 02, 2016

Argentina to Miami, a bridge worth building (Part 5)

14715685_1015jaunofashion

 

JuancoceoIMG_6347By Natalia Martinez-Kalinina

Miami has a ways to go before we can truly claim the title of regional epicenter, but Argentina has long been recognized as one of the primary entrepreneurial - albeit not particularly stable - ecosystems in Latin America. Figuring out how to support Argentina’s wave of growth and appetite for engagement represents a unique opportunity to add value to the region and truly deliver on our vision as a gateway.

As a first step to test these waters, a group of us came together to co-author a full day of programming within StartupWeekBuenosAires - the largest event of its kind in Latin America-  specifically focused on how to engage with the U.S. ecosystem and market by way of Miami. Ahead of the full agenda being announced shortly, if you are interested in participating or learning more, please fill out this form.

Leading up to the event in December, we will be featuring interviews with a varied range of Argentine entrepreneurs and companies making their way to Miami. The first installments of this series have featured interviews with Balloon Group, Wolox, La Comunidad, and Oasis. For the fifth feature, we spoke with Juan Lanusse (CEO), pictured at left, and Maral Arslanian (US Representative & Distributor), pictured below, of clothing brand Juana de Arco, which recently began its expansion into the US market through Miami two years ago.

Tell us about Juana de Arco. What’s the genesis story? What has been the trajectory?

Juana de Arco was born in 1998 in the iconic Palermo Viejo neighborhood of Buenos Aires, Argentina by the hands of designer and artist Mariana Cortes. Mariana was born in the small town of Arribeños, humble and interesting, she gives the brand this essence. Inspired by nature, art and the recuperation of Latin-American techniques, Mariana draws out the textiles and prints that are then hand silk screen printed in an infinite variety of color that make each piece one-of-a-kind and unique.

JuancoThe brand started off as a bikini line that Mariana sold out of a backpack on the beaches of Argentina. Today, Juana de Arco has two flagship stores in Buenos Aires and two in Japan; our products are now being distributed to specialty boutiques throughout the US and Europe.

What’s next - how do you see the company’s future growth and development?

We have always enjoyed a step by step process. Never moving too fast and we think that is what keeps us going, the steady upward slope. We take strategic first steps and then let the market decide what we need to do next.

Working with Japan came about by letting life take its course. In 2004 a Japanese businessman walked in to our very first boutique in Buenos Aires and decided to purchase all of our inventory on the spot. Our relationship with Japan began in that moment and we came to find that Japanese women appreciate and value Juana.

In regards to the US, we are steadily wholesaling our product - getting a sense of what the market likes and needs and adjusting the line to this entirely new crowd.

When did Juana de Arco come to Miami? Why?

We have been exporting to Japan for 12 years. In 2014 after analyzing a variety of markets to continue our international growth, we decided the American market was our best match. It values many core aspects of our products: design, uniqueness, and the environmental scope in our production process.

To dive into the US market, our options - logistically speaking, were going through Miami, New York or Los Angeles. As an Argentinian based brand Miami had several benefits: language, time differences, geographic location, and a city focusing in developing two industries where Juana de Arco clearly fits, fashion and art.

What kinds of opportunities were you looking for here? What aspects or risks worried you? How have those played out over your years here? How have you found your industry reflected here?

The US market is known to be one for opportunities, where if you work hard you will be successful. In our case, we are looking to grow the brand on a healthy path. That is, getting the right partners to deliver our brand to the clients that value what Juana de Arco stands for, a joyful and colorful lifestyle.

As we found in Japan, we are looking for those distribution channels and end clients that see something special in Juana.

As in any new market, risks come with the lack of knowledge. The learning process we have had in Argentina since 1998 had to be adjusted from scratch for the US fashion industry, which is immense and comes with its complexities. Making decisions on what, when, and how, saying no to certain options to focus on others has been one of the biggest difficulties we've faced.

From the perspective of a Latin American entrepreneur/founder but a long-time Miami transplant, how do see Miami today? What works, what surprises you, what frustrates you?

Miami is at an incredible moment. I can truly say that not much has frustrated me, I see great things happening and more on their way. From the public and private sectors, the support in the fashion industry is there. From an entrepreneurs perspective, I think Miami will have a very interesting and prolific next year.

In light of this perspective, what can Miami do better to become a truly value-adding “hub” for the region? (in your industry and in general)

Although, I do see this happening in many industries, especially technology, Miami could create more partnership. Places like The Lab, MADE, and CIC Miami are already on their way in focusing on specific fields and facilitating intermingling. Miami has to continue developing and reinforcing this co-working approach. It is the way to create a positive community in which we will inevitably learn from each other, pick each up, and watch each other succeed.

How has it worked to have your company straddling Miami and Buenos Aires? Any lessons or advice for companies exploring similar moves?

Both cities are in relatively close proximity, and like I stated before, we share aspects and values. It is a move that takes time. Starting a company in another country simply takes time. As entrepreneurs sometimes we wish things moved in a faster manner. So my best advice would be - patience.

Organizations like Endeavor have talked at length about the “Argentine Model,” but Argentina is also a country that has lived through rocky political and economic cycles. Is there something Miami can learn from the Argentine case study?

Our rocky political and economic cycles have had negative consequences on Argentina. On a brighter note, a positive consequence, the proliferation of entrepreneurs. When when we had the crisis of 2000, many people started to think, hey I studied, worked hard and still lost my job! The lack of opportunities led them to have to lose that fear of insecurity and become an entrepreneur. This crisis gave birth to the fashion designers that are standing strong in Argentina today.

Miami should appreciate the lack of crisis and be fearless regardless.

Do you see potential for collaboration and bridge-building between the entrepreneurial ecosystem and the creative economies in Buenos Aires and Miami? Why or why not?

Yes, I see a lot of potential. I see many aspects in which we are similar, things that bring us together. I also notice many complementary aspects. These are the spaces where working together creates value for both sides, bettering each part.  

Natalia Martinez-Kalinina is the General Manager of CIC Miami and the Founder of Awesome Foundation MIAMI. If you are an Argentine company looking to expand to Miami or a Miami-based entrepreneur/investor looking to connect with the Argentine ecosystem, please reach out to Natalia at martinez@cic.us

[This is part 3 of a series. Read part 1 here - Honey vs. Vinegar: How are we luring and keeping the companies we want in Miami?, part 2 here, part 3 here and part 4 here]

 

December 01, 2016

Startupbootcamp's Demo Day shines spotlight on startups and healthcare ecosystem

SbcMediconecta

 Mediconecta, a telehealth company serving Latin America, makes a Demo Day pitch at Startupbootcamp Miami.

By Startupbootcamp Miami

Miami is home to a robust health industry and is considered one of the largest health districts in all of the United States. From Miami, Startupbootcamp and Mana Wynwood are partnering to create a unique space that capitalizes on Miami’s competitive advantage - from demographic diversity, geographic endowment bridging populations between the Americas together, and Miami’s art scene - to create a distinct and defendable ecosystem for innovation.

“Startupbootcamp has brought new talent and energy to Miami’s expanding innovation ecosystem. Building on this momentum, Demo Day is a chance for this first class of entrepreneurs to put their potential on display and show how they can contribute to the growth and success of our city,” said Matt Haggman, Knight Foundation program director for Miami.

“Miami is a perfect market for entrepreneurs working at the intersection of healthcare and technology with its highly successful clinical facilities, booming tech scene, and emerging startup ecosystem,” said Jaret L. Davis, co-managing shareholder of Greenberg Traurig Miami, who is leading the team of attorneys working with Startupbootcamp and serves as Vice Chairman of Miami Children’s Hospital. “Our firm is thrilled to play a key role in Startupbootcamp and serve as the connector with many of the key players in the market. In light of the work we were already doing with Miami Children’s Health Systems in this field, it made sense to introduce the two, and we are beyond pleased to see how this relationship has blossomed. We look forward to being a catalyst for future growth and remain confident that the success of Startupbootcamp Miami will encourage more accelerators to make their home here.”

Startupbootcamp Demo Day on Thursday  combined  innovations in healthcare technology with Miami’s Art Basel. On Demo Day, Startupbootcamp’s portfolio of digital health companies shared the insights they’ve garnered working in Miami over the past several months to a room of investors, healthcare customers and providers, press, and other esteemed guests.

“Startupbootcamp has really brought to life the technology startup scene in Miami,” said Dr. Narendra Kini CEO at Nicklaus Children’s Hospital, an early supporter in Startupbootcamp. “By focusing on health it is really building out the ecosystem for innovation. We hope to see the next major healthcare players originate in Miami.”

In addition, the Startupbootcamp Demo Day was also paired with Miami’s Art Week, harnessing the influx of general cultural activity into an instrument for broader good. Recognizing that the worlds of Art, Health and Technology traditionally exist independently of one another, Startupbootcamp, in partnership with Mana Common, are forging an unprecedented platform for innovation.

Art is continuously playing a significant role in this development by using creativity to address healthcare and patient livelihood, and to broaden access to wellness resources. Artful thinking is increasingly becoming a meaningful and serious strategy towards better healing, as demonstrated through the partnership of Startupbootcamp and Mana Common.

The goal is to look at Miami’s competitive advantages in terms of industry – Health, Technology, and Art – to create a defensible value chain.

Here are  highlights of some of the major accomplishments that our companies have achieved over the last three months.

Aces Health:

Aces Health’s a 5 global finalists for the Mayo "Think Big" entrepreneurship challenge, has signed a LOI and is looking to close it’s pre-seed funding round led by Miami Children's Health System.

BabyScripts:

Partnered with Aurora Healthcare to build the first technology enabled Medicaid care plan that makes necessary pregnancy care available to any patient from the comfort of their own home. The product went live last week.

Additionally, Dr. Narendra Kini and the Miami Children's Health System have served as a pivotal strategic mentor and partner in the South Florida market. They are currently working together on a comprehensive Go-To-Market as well as new exciting product developments.

CareAngel:

CareAngel as awarded 1st Place in the AARP Foundation’s $50K Innovation Challenge for its partnership with the Philadelphia Local Association of Areas on Aging to support enhanced remote care for low income and underserved populations. As part of the SBC program, CareAngel is now piloting with the University of Miami Health System around med adherence for it’s mammogram patients.

Keep Livin:

KL has closed several revenue generating deals in the past 90 days with substantial partners such as Univision and Florida Blue. Keep Livin will be Florida Blue’s community engagement partner, entail enrolling those in Broward County during the current enrollment period.

Mediconecta (pictured above):

Mediconecta has signed an agreement with Miami Children's Health System to support their outreach for children and their families in Miami, throughout the nation and in Latin America.

Additionally, Mediconecta is contracting with University of Miami Health System to deliver a one of a kind model that will extend their providers' reach into new care settings throughout their markets.

QoC Health:

QoC Health as signed 6 new project contracts (including Canada's largest hospital network, Canada's largest home health organization, 2 internationally recognized universities, and 1 global health organization). The projects cover a variety of content areas, including mental health, population health data collection, and chronic disease management.

Overl.ai:

With the help SBC, Overl.ai has pivoted their resources and technologies to a single product around patient intake.  Since then, the company has experienced more meetings and follow throughs with the investors, new strategic partnerships,  and more customer opportunities.

TruClinic:

TruClinic has added 5 new customers since the beginning of our journey with Startup Bootcamp. The Company also won an RFP with a Florida Children's Hospital. TruClinic has been recognized by the Journal of Health as one of the most innovative digital health companies in the world as an honoree of the 2016 Global Digital Health 100 List.

VoiceITT:

In South Florida, VoiceITT will collaborate with specialty clinicians, disabilities advocates, and therapists, including testing and research toward clinical validation of its signature product, which will be commercially available in 2017. It is in discussions with the University of Miami UHealth System, which will be the site of its first hospital pilot implementation as well as its first enterprise sale.

SBC

A panel of community experts in healthcare discuss the ecosystem at Startupbootcamp's Demo Day.

November 30, 2016

EDC launches “Inside the Investors Head” series with Miami DDA

EDCRob Strandberg intro Steve O'Hara

 

By Deborah Johnson

Enterprise Development Corporation launched a new series of investor/startup events meant to provide entrepreneurs valuable funding insights.  The series combines one-on-one investor/startup introductions with a reception for a broader audience of entrepreneurs.    The objective of these “capital Introductions” is to both help startups acquaint themselves with active Florida and non-Florida early stage investors and help investors identify South Florida’s best emerging investor-ready companies. 

The series launch event featured New World Angels (NWA) and their new president, Steve O’Hara.  Mr. O’Hara met in the afternoon with five NWA selected companies from a growing event database of over 30 companies.   Each company received feedback on their presentation, an initial interest level and specific advice in applying for formal consideration by NWA. 

The five companies selected were:  Recordgram – a mobile music and video recording studio that allow for instant song collaboration; BBConnect – a cloud based reservation and marketing solution for the $3B B&B industry; Cargo42 – an on-demand marketplace for local trucking scheduling; YouCloud – a digital coach for team effectiveness; and Magneceutical Health – Magnetic Resonance Therapy addressing chronic stress and related conditions. 

These 1 on 1s were followed by an evening reception where Mr. O’Hara shared with the audience general funding guidance for entrepreneurs as well as specific insights into NWA’s selection and funding process. 

Future events in this series will be ongoing throughout 2017, with the January investor announced soon so please check www.enterbusiness.org for updates.

For entrepreneurs wishing to participate in future events, please submit an executive summary and investor slide deck to team@edc-tech.org

November 29, 2016

Argentina to Miami, a bridge worth building (Part 4)

  Rio - Villa

Oasis' hotel 2.0 concept features properties like this one in Rio.

 

By Natalia Martinez-Kalinina

Miami has a ways to go before we can truly claim the title of regional epicenter, but Argentina has long been recognized as one of the primary entrepreneurial - albeit not particularly stable - ecosystems in Latin America. Figuring out how to support Argentina’s wave of growth and appetite for engagement represents a unique opportunity to add value to the region and truly deliver on our vision as a gateway.

As a first step to test these waters, a group of us came together to co-author a full day of programming within StartupWeekBuenosAires - the largest event of its kind in Latin America-  specifically focused on how to engage with the U.S. ecosystem and market by way of Miami. Ahead of the full agenda being announced shortly, if you are interested in participating or learning more, please fill out this form.

ParkerLeading up to the event in December, we will be featuring interviews with a varied range of Argentine entrepreneurs and companies making their way to Miami. The first installments of this series have featured interviews with Balloon Group, Wolox, and La Comunidad. For the fourth feature, we spoke with Parker Stanberry (pictured here), Co-Founder and CEO of Oasis, a disruptive hospitality group that relocated its headquarters to Miami two years ago.

Tell us about Oasis. How was the company started? What has been the trajectory? How do you see its future growth and development?

I hatched the idea in 2007 based on my own experiences as an international traveller and then expat in Buenos Aires. I just felt there was a need for a better and more immersive traveller experience than hotels could provide.

In 2008 I partnered with two other Americans who knew Buenos Aires well, put together about $20K of start-up capital, and launched in early 2009. So it was a true startup in the early days. We had some success in BA and raised $100K, then opened Sao Paulo and Punta del Este, which proved the concept enough to raise $600K. Then in 2013 that we raised a Series A and were able to really hit the gas in terms of expansion.

Now we’re in 22 cities in 12 countries, and earlier this year did a Series B with AccorHotels. With additional capital and the institutional support of a partner like Accor, the goal is to really ramp up and reach 100 markets. Our goal is to build the first global brand around this “hotel 2.0” concept.

When did you/Oasis come to Miami and why?

We decided to move the HQ here in 2014, as a natural base from which to pursue a global strategy. It’s geographically ideal, lower cost than a NYC (which would have been our other option), and obviously very international. I myself moved up here last year.

What kinds of opportunities are you looking for here? What aspects or risks worry you?

I think more than a specific opportunity, it’s the factors that I mentioned above. It just checks some key boxes for us at this stage of the company’s trajectory.

The 2 worrying aspects to me are, first, access to later-stage capital. It seems that the seed and angel stage ecosystem is developing quite well, but there aren’t any funds doing B/C/D stage rounds. That’s less a worry for us now with Accor on board and good relationships with some NY-based funds.

The other is scarcity of talent. There are certainly some great people around, but nowhere near the density of young professional talent as you’d find in a major US or European city. Now the flipside of that is that there are also fewer opportunities, so when you do find the right person, there is less competition for them and more loyalty. But I think the depth of the talent pool is something that the folks involved in trying to build this ecosystem have to put some serious thought into.

From the perspective of a Latin American entrepreneur/founder, what advantages does Miami have?

Well, I’m kind of a pseudo-Latin American entrepreneur, since I’m from the US, but sure, for the purposes of this question, I can play up the LatAm angle. Advantages are a) proximity to the region, b) tremendous amount of back and forth of people between Miami and the region, c) ability to ease in culturally, d) fact that many LatAm HQs are here, so it’s actually easier to reach regional decision makers in Miami than in BA or Mexico City or Sao Paulo.

In light of this perspective, what can Miami do better to become a true value-adding “hub” for the region?  

The city needs to find a way to get some larger funds active here. And I think that organizations doing some more explicitly cross-border focused programs, talks, workshops would be great, such as the LAB did a few weeks back with an Argentina focus.

Organizations like Endeavor have talked at length about the “Argentine Model,” but Argentina is also a country that has lived through rocky political and economic cycles. What do you think Miami can learn from the Argentine case?

I’m not an expert on this so don’t have too strong of an opinion. But when looking at the Argentine model, I do feel that the original impetus for the movement has a good bit to do with luck - a few incredible entrepreneurs happened to build great companies in the late 90s, and that lead to the network effect that Endeavor points to. The great thing was that Endeavor was there in Argentina at that time, and really able to seize the moment and amplify the effect and influence of those 3 big success stories. So while maybe you can’t will those first success stories to happen, you, as a city or group of organizations in a city, can certainly be proactive in recognizing them and capitalizing on them.

That being said, you’re right - at a macro level it’s not like Argentina has been a model, and there haven’t been any majorly impactful start-ups, on a global scale I mean, since Globant. Meanwhile Sweden, a country 1/5th the size of Argentina, has created 4-5 [need to check that] unicorns in the past 8 or so years. So obviously the macro context is important, and is certainly an advantage that Miami has over Buenos Aires.   

Do you see potential for collaboration and bridge-building between the entrepreneurial ecosystem in Buenos Aires and the one in Miami? Why or why not?

Sure, there is no reason not to. There is a lot of commonality of language, a natural affinity between the two, and certain industries that are quite important in both cities (tech, real estate, hospitality come to mind). But again, that being said, the macro context in Argentina is so challenging, which begs the question of whether there are other US cities that have thrived in the recent years (Austin for example) that would make sense to study and forge connections to.

Natalia Martinez-Kalinina is the General Manager of CIC Miami and the Founder of Awesome Foundation MIAMI. If you are an Argentine company looking to expand to Miami or a Miami-based entrepreneur/investor looking to connect with the Argentine ecosystem, please reach out to Natalia at martinez@cic.us

[This is part 3 of a series. Read part 1 here - Honey vs. Vinegar: How are we luring and keeping the companies we want in Miami?, part 2 here and part 3 here]

 

November 25, 2016

Argentina to Miami, a bridge worth building (Part 3)  

 By Natalia Martinez-Kalinina

  LacomunidadIMG_1546Miami has a ways to go before we can truly claim th e title of regional epicenter, but Argentina has long been recognized as one of the primary entrepreneurial - albeit not particularly stable - ecosystems in Latin America. Figuring out how to support Argentina’s wave of growth and appetite for engagement represents a unique opportunity to add value to the region and truly deliver on our vision as a gateway.

 As a first step to test these waters, a group of us came together to co-author a full day of programming within StartupWeekBuenosAires - the largest event of its kind in Latin America-  specifically focused on how to engage with the U.S. ecosystem and market by way of Miami. Ahead of the full agenda being announced shortly, if you are interested in participating or learning more, please fill out this form.

 Leading up to the event in December, we will be featuring interviews with a varied range of Argentine entrepreneurs and companies making their way to Miami. The first installments of this series have featured interviews with Balloon Group and Wolox. For the third feature, we spoke with Joaquin Molla, Co-Founder and Chief Creative Officer of the community - a multiple award winning and globally recognized creative agency, designated as the 2016 multicultural agency of the year by AdAge.

 Tell us about the community/la comunidad. What’s the genesis story? What has been the trajectory?

We wanted to create a company where people can create and produce great work for great brands. The community was born around the idea of collaboration—how people from different cultures can influence each other and do amazing things when they work together. We deeply believe in the power of culturally-driven ideas.

What’s next? How do you see the company’s future growth and development?

At the community we think about growth differently. Most agencies approach the question of growth in the traditional way—the growth of their business; but we think growth is the product of something bigger: following a vision. Our vision remains the same: we believe in the power of culturally-driven ideas and technology. It’s all about our cultural sensibility, and we believe this is a global concept. So where that vision takes us, we will follow…

When did the community/la comunidad come to Miami? Why?

There were a few reasons. One of the most important ones was the idea of being able to do amazing things when you work and being able to have an amazing life when you get out of the office. We thought Miami could help us achieve a better balance between work and life. Some cities tend to give better work options, but with a harder side of life. We opened in Miami in 2001 with the idea of having a company with very high standards on both sides of life. We love the ocean! And it’s very rare to have both the opportunity to work in advertising and the ocean so close. It’s a luxury we celebrate every day. Also it is a very strategic place to be. You can be in New York and Chicago in three hours, in Buenos Aires overnight. You can cover all the Americas fast, and also be in London in six hours. It is in the middle of everywhere.

What kinds of opportunities were you looking for here? What aspects or risks worried you? How have those played out over your years here?

 Again, the idea of a better work-life balance. At the beginning, we were worried about the standards on creativity. Buenos Aires is a very intense city where you are surrounded by culture, and it pushes you beyond your limits all the time… in a very interesting way. So our concern was that Miami could have the opposite influence on the company and on us, but that didn’t happen.

Besides, Miami has changed a lot in the last 16 years in a fascinating direction. I feel like we are also part of that change, and I always felt the city received us and supported us a lot during all those years because we made that bet at that time—and we took it very seriously. Now I feel like Miami is the right place at the right time. I feel honored to be here surrounded by so many talented people who want to find a balance but also want to keep pushing the limits of what’s possible. I feel very lucky to be here.

From the perspective of a Latin American entrepreneur/founder but a long-time Miami transplant, how do see Miami today? What works, what surprises you, what frustrates you?

 I am very happy with the evolution Miami is going through. I like that it is becoming a more interesting place on the culture side. But the sense of “belonging” is something Miami has to work on. Somehow, it is hard to have strong roots in the city – everyone is moving around, and it feels like you are somehow another tourist in town. Whatever Miami can do to make people feel like a “local” and celebrate that you chose this city to raise your family and build your company would be great. More and more interesting people are choosing Miami to live, but how do we give them the sense of belonging and that extra “local” feeling that makes them stay?

In light of this perspective, what can Miami do better to become a truly value-adding “hub” for the region? (in your industry and in general)

I think any effort on culture is very well received. We were always perceived as a shallow city, but now the amount of thinkers living here is amazing. What do we do with all of them to bring that truth to the surface?

How has it worked to have your company straddling Miami and Buenos Aires? Any lessons or advice for companies exploring similar moves?

We have a lot to learn on both sides. We should mix process and intuition more. Both extremes are bad. In the U.S., things become too process driven, and sometimes you lose a bit of the magic; and the opposite is also true in Argentina, so that mix has helped our company ha lot.

Organizations like Endeavor have talked at length about the “Argentine Model,” but Argentina is also a country that has lived through rocky political and economic cycles. Is there something Miami can learn from the Argentine case study?

Well, you can always learn from anything. I think the biggest thing would be the ability to adapt fast to anything. You become tougher, and you can adapt easily to change. I think that is key these days. That is the only thing we can be sure about: Everything is changing all the time. So being raised in a country like Argentina prepares you for anything. You also learn how to react quicker, because you know timing is key. These days with technology, that speed drives everything we do. The “speed of culture” is dictating a faster way to communicate all the time.

Do you see potential for collaboration and bridge-building between the entrepreneurial ecosystem and the creative economies in Buenos Aires and Miami? Why or why not?

I think Miami should build a bridge between all the big cities of Latin America, not only Buenos Aires. We should be able to see the best artists' work, the best plays, movies, books and more. There should be a connection between Miami and the best of each of those cities that is more direct, fluent and consistent. This happens sometimes: you see something amazing from one of these cities. For me, however, this should be a serious long-term program curated by interesting people to make sure we have a pulse in each of those cultures to see not only the best but also what’s coming, what’s under the radar. In Miami we are at the center of it all. We can connect the south and the north, and we can do amazing things with that amazing mix.

[This is part 3 of a series. Read part 1 here - Honey vs. Vinegar: How are we luring and keeping the companies we want in Miami? and part 2 here]

Natalia Martinez-Kalinina is the General Manager of CIC Miami and the Founder of Awesome Foundation MIAMI. If you are an Argentine company looking to expand to Miami or a Miami-based entrepreneur/investor looking to connect with the Argentine ecosystem, please reach out to Natalia at martinez@cic.us

November 10, 2016

Latin American and Caribbean entrepreneurs complete Young Leaders of the Americas Initiative in Miami

Globalties

The 14 YLAI fellows with Mark Sanna and Lillian Roberts of EO (Entrepreneurs' Organization) South Florida.

 

By Maria de los Angeles

On Friday, November 4, young entrepreneurs from Latin America and the Caribbean pitched their business plans to a panel of local judges at Florida International University’s Brickell campus. The pitch session was the final event in the month-long Young Leaders of the Americas Initiative (YLAI), a fellowship program initiated by President Obama and funded by the U.S. Department of State, Bureau of Educational and Cultural Affairs. The program matched 250 emerging social and business leaders from Latin America and the Caribbean with local mentors in 21 city hubs across the U.S.; 14 of them did their residency in Miami with the help of Global Ties Miami, a non-profit that has been facilitating citizen diplomacy through cultural, educational and professional exchange tours since the 1950s.

YLAI set out to establish networks between young leaders and business mentors across the hemisphere. While in Miami, the fellows worked with their mentors for take-aways they could apply to their existing startup ventures back home.

The mentors and hosts were as diverse as Miami’s international business community. Fellows ranged from a cacao farmer in Belize to an Augmented Reality app developer from Trinidad and Tobago, to an environmentally conscious shoe manufacturer from Peru and a bespoke seamstress from Costa Rica, among others.

Some of the hosts were themselves Miami startups that have moved beyond the alpha phase: a biscuit manufacturer from Guyana worked with Lemon City Tea; the owner of a brand management company in Paraguay received mentorship from The New Tropic; and an e-commerce businessman from Nicaragua learned about tech business models from Tesser Health.

All of the fellows have founded businesses that are poised for next-level growth. They came to the U.S. to learn best practices from their mentors and to explore ways of developing their homegrown ideas within an international network.

“We were thrilled to host this group of inspiring young entrepreneurs in Miami,” said Emilie Baird, Director of Programs for Global Ties Miami. “The YLAI program contributed to deeper community connections and collaborations, both internationally and locally.

Nomad Tribe Shop and Lemon City Tea, who were both hosts and have since partnered, or the partnership that has developed between David Medina, founder of Qubo (Queer Bogotá, a non-profit that works to build self-esteem in the LGBT community through sports) and his host organization, the World Out Games, a major olympics-like event that will be coming to Miami in 2017.”

During the pitch session on November 4, each fellow had four minutes to present their business models to a panel of judges for the opportunity to compete in a national competition in Washington, D.C. with other fellows chosen from the 21 host cities. The final winner is set to win a cash prize to use for business development at home.

The judges included Carlos A. Huerta, President and Founder of PLC International, Emma Wing, Business Advisor ITMS Group, a company she co-founded with her husband, Robert Wing, and Christopher McKenney, media entrepreneur and CEO of Mango Media.

The third place winner, Guillermo Jimenez worked with mentor Humberto Lee of Tesser Health and is the founder of Eleganza Boutique, an e-commerce platform in Nicaragua. E-commerce giants E Bay and Amazon don’t sell products in the country of six million where most people are wary of online shopping -- only 20% are active, according to Jimenez. The entrepreneur seeks to build trust and to “become the Amazon for Central America.” He currently sells imported merchandise via the Facebook marketplace but the business will grow with a proprietary website.

Second place went to Bahamian entrepreneur Ashleigh Rolle, who saw room for improvement in travel options to connect the 700 islands that make up the nation. “It’s Uber for boat travel,” she said as she explained Skipper, an online platform that connects local commuters and travelers to boat captains operating in the Bahamas. Rolle’s mentor was Nicholas Scherb of 26 North Yachts, a brokerage based in Fort Lauderdale.

Kadeem Pet-Grave of Jamaica won first place for Educatours JA, a company that plans and executes gamified tours and team building activities for schools. “Learning shouldn’t be boring,” said Pet-Grave as he explained how schools can request customized mobile technology gamification for field trips featuring fun activities such as treasure hunts with score keeping and prizes. Pet-Grave’s mentors were Charles Kropke and Alison Klapper-León of Coral Gables-based tour company Dragonfly Expeditions.

The current YLAI program will continue into Spring of 2017, when some of the mentors will travel to their fellows’ countries for continued professional learning exchanges.

Maria de los Angeles is an independent journalist who writes for Global Ties Miami.

Globalties2

Nicaragua fellow Guillermo Jimenez working with host mentor Humberto Alexander Lee of Tesser Health.

Argentina to Miami, a bridge worth building

Wolox

By Natalia Martinez-Kalinina

As we often hear, Miami is a city uniquely poised to be a hemispheric hub. But despite being the transit isthmus that connects our hemisphere and representing a natural landing pad for companies growing from Latin America, we have historically fallen short of creating a sustained bridge for tangible and bidirectional engagement.  Entrepreneurs from Latin America come half blindly and arrive without a fully nuanced understanding of our infrastructure, differences, logistical shortcuts, critical stakeholders. As such, the learning curve is often steeper and the adjustment period longer than it should be - and that is in part our fault.

Argentina has long been recognized as one of the primary entrepreneurial ecosystems in Latin America with regards to high potential entrepreneurs. In equal measure, however, it has also been plagued by political malaise, economic instability, unreliable institutional resources, and its own absence from global capital markets. Now, although the country is very much in a transitional period after the 2015 election and the myriad economic and legal changes underway, Argentine entrepreneurs can - for the first time in several decades - see a horizon in which the country’s public sector, institutions, markets, and workforce can truly dovetail to generate growth, investment, and innovation.

Miami has a ways to go before we can truly claim the title of regional epicenter, but figuring out how to support Argentina’s wave of growth and appetite for engagement represents a unique opportunity to add value to the region and truly deliver on our vision as a gateway.

As a first step to test these waters, a group of us came together to co-author a full day of programming within StartupWeekBuenosAires - the largest event of its kind in Latin America-  specifically focused on how to engage with the U.S. ecosystem and market by way of Miami. Ahead of the full agenda being announced shortly, if you are interested in participating or learning more, please fill out this form.

Leading up to the event in December, we will be featuring interviews with a varied range of Argentine entrepreneurs and companies making their way to Miami. The first installment and inspiration for this series was an interview with Balloon Group. Below, we take a closer look at Wolox (pictured above), a growing software development company currently exploring its potential for expansion to the US from Buenos Aires, starting with a footprint in Miami. We spoke with Luciana Reznik, Wolox’s CEO (pictured here).


WoloxlucianaTell us about Wolox - how the company emerged, how has it changed over the years?

In 2011, Wolox was founded to innovate and help startups with all their product strategy and technological needs. With the lack of cutting edge tech solutions in Buenos Aires at the time, our goal was to bring high impact technology to the entrepreneurial ecosystem of South America. Concurrently, Buenos Aires was beginning to position itself as a major entrepreneurial city making for an ideal target market. After the great successes of the 90’s such as MercadoLibre, Despegar, and the first accelerators opening their doors, many new success stories continued to emerge. Like so, being an entrepreneur became an attractive career for many.

At this time, we were (all) finishing our degrees in computer engineering at The Buenos Aires Institute of Technology, a prestigious engineering university in Argentina. With other entrepreneurial experiences under our belt, an opportunity became clear to us: from a business standpoint, there were a larger number of individuals with good ideas and execution capabilities, than those with tech talent who could successfully carry out these ideas. This was our “aha” moment if every one of these individuals could be the CTO of a business venture, why not join together and become the CTOs of many business ventures?

Through the years, not only did we become experts in software development, but in all disciplines that influence the creation of top quality products as well as best practices when developing a startup. From the stage of conception to execution, researching the product market fit and implementing strategies to scale the business, Wolox is the team startups choose to partner with. Today, having worked with more than 80 startups has given us the know-how and key experiences to stand out within the industry which is invaluable to our clients.

Where do you see the growth and future of the company in the next years?

Today, we have around 100 employees and 100 products developed, with continual growth every day. We have managed to penetrate new markets in the USA and other countries in Latin America. Additionally, Wolox has established a team of exceptional individuals who discover innovative solutions to the challenges we are presented with while working ethically and professionally. Thanks to our ongoing positive recognition, larger companies have begun to use our services of design thinking to find solutions to their problems and/or establish innovation within their brands.

At Wolox, we have also been able to create a unique organizational culture that defines who we are and allows us to establish a challenging, flexible, innovative and respectful environment where our employees come to work motivated and happy. That is perhaps one of the biggest achievements and where we focus our energy every day to continue improving and not conform with what we have already achieved. Wolox is a company created by and for Millennials. A place which seeks to break with tradition, rife with challenge, and where rules are created to be broken in order for continual success.

In the coming years, we plan to continue the immense and rapid growth we have been experiencing up until now- opening new operating centers throughout the country as well as sales offices in various cities around the world. We will continue to train experts in the diverse cutting-edge technologies that emerge such as AR, VR, Internet of Things, among others, to be able to provide the best technological solutions to the problems we encounter within the market industry. In addition, we hope to become key leaders and influencers for the working culture we possess. We believe that we can transform problems into solutions and ideas into quality products, from Argentina to the rest of the world, managing to be positive and happy throughout the journey.

When did Wolox come to Miami, and why? What opportunities are you looking to find here? What risks may you come across? What is the evaluation and product release process in the United States?

As the next logical step in terms of company expansion, Wolox began its operations in Miami in January

of 2016. Our percentage of US clients is constantly growing and we want to continue this growth in the coming years, therefore, we believe opening offices in the United States is the rational next step for the company.

In Miami (and South Florida in general) we saw an interesting opportunity: an expanding entrepreneurial ecosystem, with tremendous support from various institutions and government funding to put Miami on the map of the entrepreneurial world. With the large Latino community many of the bigger enterprises or brands targeting the Latin American market have offices in Miami.

Our biggest challenge now is to manage a high volume of deal flow to maintain our operations during the period of growth of this entrepreneurial community, until it has fully consolidated. We do have to keep in mind we are in a new community and network, with a blank slate, where people still do not know us. We'll have to work hard to achieve a strong reputation and to position ourselves just as we have in Argentina.

Success stories like Magic Leap, Open English, Kairos, among many others have helped encourage and push the creation of tech startups. New co- working spaces are constantly opening their doors, making Miami an attractive spot for companies to set up shop. Miami is a city with immense multicultural and creative talent and a low cost of living. It really has all the key ingredients to make for the ideal entrepreneurial hub. Our goal now is to start generating and executing new startups and to bring capital to risky investments. Wolox arrived in Miami to help entrepreneurs pursue their ideas and build the entrepreneurial ecosystem just like we did in Buenos Aires 5 years ago.

From the perspective of the Latin American entrepreneur, what do you expect as a contribution from Miami?

Miami has access to a far greater pool of investors than we do in Latin America. A seed capital in Miami is at least us$ 500,000 whereas Latin Amércia it rarely exceeds us$ 50,000. On the other hand, it's very strategically located between Latin America and many other entrepreneurial hubs like New York, San Francisco, Boston, Austin, and Los Angeles, where many of our customers reside. Being closer provides an added value to our clients. Miami has many investment funds that focus on this type of enterprise and entrepreneurs of each country in Latin America that can help in this expansion.

As a Latin American entrepreneur, from day one we are constantly thinking globally as our native country itself is usually not a big enough market. Often times the market for our product is in the United States, making it very hard to measure the startup’s early stages from a distance. Even if the market we are appointing to is Latin Amércia as a whole (and not just a particular country) it is a lot easier to access those countries from the USA than from Argentina for example.

From this same perspective, what do you think Miami can do better to become a true "hub" in the region and support entrepreneurs who come here?

Often times, legal and accounting issues end up being a major roadblock when trying to focus one's energy on business. Visa issues/procedure, difficulty in the opening of bank accounts or being unable to access credit are just some of the disadvantages foreign entrepreneurs encounter. To overcome these difficulties, we must be in a privileged position within our country of origin to be able to access the necessary resources. This is something we consider a limitation in attracting top talent.

On the other hand, we must continue to focus on the education and the transmission of entrepreneurial culture. Some of the best practices when carrying out a startup such as energy and entrepreneurial execution speed (which are found in the most important hubs in the region), are  built through education and example. Therefore, it is necessary for the successful entrepreneurs of Miami to stay in order to transmit their learnings and knowledge and channel their entrepreneurial spirit to help and motivate those who are just getting started. Of course, the active participation of organizations - both public and private -that help entrepreneurs to perform this work is a key factor to achieve development.

What is your view on the political and economic situation in Argentina at the moment? What perspective does this experience give you on the growth of Miami?

Argentina is in the process of rebuilding political and economic relations with the United States. They are putting a lot of effort in generating public policies which support entrepreneurs and are strengthening programs and incentives of exchange between the two countries.

For example, only for the year 2016 will the budget allocated to the co- state investment in enterprises by local accelerators, triple. Undoubtedly, this will have a huge impact on the amount of Argentine entrepreneurs who choose Miami as the next step in its expansion process.

It is also expected for there to be at least two new public-private angel investment funds formed, whom will seek to have an active participation from foreign funds. This presents itself as a very interesting opportunity for foreigners: entering the entrepreneurial ecosystem of Argentina with limited risks.

Finally, the Argentine peso is at an exceptionally competitive value for the US market. Making for a very appealing strategy to realize the commercial development of Argentine companies in the USA.

Organizations like Endeavor have talked a lot about the Argentine model (not just the shortcomings, but the great achievements and opportunities). What do you think Miami can learn from Argentina’s case?

I believe Argentines are very entrepreneurial in nature. Things in our country are never simple, predictable or easy. We have overcome several crises throughout our history and from day one we have to address the daily challenges we face in an innovative way. From this, one learns to find solutions to the problem effectively, efficiently, and while working collaboratively.

As entrepreneurs, we have the need to create enterprises with sustainable business models from the get-go, since the ability to raise capital is quite small. I see this as a major difference between the Argentine entrepreneur and the US entrepreneur. Here entrepreneurs sometimes do things thinking only of the next round of investment or how to improve the KPIs the investors are going to ask for, instead of focusing on making a profitable business. Perhaps in the coming years, this paradigm will begin to change if the access to capital becomes more difficult. Which we are beginning to see in some parts of the USA.

In Argentina, there is a very strong sense of community. Entrepreneurs share their experiences, they teach, and invest in and mentor those just getting started. This ‘multiplier effect” is essential for the growth of the entrepreneurial community anywhere around the world and is one of the values ​​promoted strongly by Endeavor in Argentina. I believe this is something interesting and important to try and replicate in Miami. First, identify these stories of success and then take advantage of their transmission of knowledge that can render for following generations.

[This is part 2 of a series. Read part 1 here - Honey vs. Vinegar: How are we luring and keeping the companies we want in Miami?]

Natalia Martinez-Kalinina is the General Manager of CIC Miami and the Founder of Awesome Foundation MIAMI. If you are an Argentine company looking to expand to Miami or a Miami-based entrepreneur/investor looking to connect with the argentine ecosystem, please reach out to Natalia at martinez@cic.us

November 09, 2016

The art of bringing Miami together

By Cristian F. Robiou
 
Dear Miami Startup Community,

RobiouI write this with dual intentions but one audience in mind.

The first purpose is to formally invite you all to the Startupbootcamp Demo Day to be held on December 1st at the Mana Convention Center in Wynwood. You can RSVP HERE. The second reason is to provide broader context on the motivations that power the bulk of our work: what are we doing in Miami and why should you care?   

Our motivations found voice after confronting a wake of questions commonly posed but less frequently acted upon: "how do we do well for ourselves, while also doing good for others?"

At Startupbootcamp, we have made measurable strides in service of this vision of comprehensive growth, rather than the unbalanced approach put forth by our counterparts in San Francisco, Boston, New York and elsewhere. While successful in the traditional sense, the chief failure of our sister-cities has been neglecting the real, human interests technological progress is intended to serve. When combined with the long term tax created via unstated but widely recognized policies of exclusion, the glow of our own city, of our own Miami, takes an even more important hue. We’ve arrived at an answer after long months spent evaluating: to pair our Demo Day with Miami’s Art Week, and in so doing harness general cultural activity into an instrument for broader good. Specifically this means showing and sharing widely the lessons learned from building for our expanding community so that we protect and accelerate Miami’s startup trajectory. We will be hosting panels on industry specific topics that bear directly on Miami’s growth prospects. This will be paired with a broader art and health tech symposium and, of course, our own Demo Day where our portfolio companies will share the insights they’ve garnered over months working with us here.

Because we work in the health sector, this is easier said than done. But despite the challenge we’ve managed to make considerable strides. We can reach new heights with your help.

In a few week’s time, the world will turn its eye to Miami. Art Basel is one of those distinguishable events where our city brims with the spirit and promise of culture, a complexity of values expressing one of the the best shorthand indications of what we can stand for as a people: growth of all forms, diversity of distinct shades, and appreciation of the transformative power of color, origin, and perspectives.

Our work entails crafting a protected space that encourages a commitment to living, not just alongside one another as strangers in polite company, but instead as stakeholders sincerely invested in each other’s well-being. And though admittedly not the perfect forum - we acknowledge Basel itself suffers from serious inclusiveness deficiencies - our goal now is to offer a pointed method to address them, and continue to strengthen our ecosystem. In marrying the industries of technology with the world of art in Miami, we can begin forging commonality of value while celebrating diversity of experience. We can strive to make this part of Miami’s emblem. A time and place dedicated to recognizing the breadth of distinct histories while holding steadfast to the view that together we are truly are a collection of the world’s finest range of humanity.

This is an unsung philosophy we practice daily: that in this way more of us can find richer and continuous opportunities for improvement, and that we have a duty to share that as widely as possible. If the promise of Miami means anything, it is this commitment to inclusion and accommodation that separates us from those that came before.

At Startupbootcamp, we have devoted significant resources to create a non-trivial response to this issue, meeting passion with reason in equal measure. We have started this project, of fusing art and health tech under a common banner, with substantive as well as symbolic goals in mind. Though our focus industries do not form the full picture of what Miami offers, we nonetheless hope to see you on December 1st.

Cristian F. Robiou is the acting chief operating officer at Startupbootcamp Miami, a digital health seed fund and accelerator.