June 21, 2016

A case study for helping companies grow: Goldman Sachs 10,000 Small Businesses

Locally, 10,000 Small Businesses at Miami Dade College has helped 230 companies grow their businesses, adding revenue and jobs. Revenues have more than doubled for Miami entrepreneur Enrique Torres’ business, Excellent Fruit & Produce. Still, challenges remain for small businesses, as a new study by Babson College shows.

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Enrique Torres, owner of Excellent Fruit & Produce in Miami.

 

By Nancy Dahlberg / ndahlberg@miamiherald.com

Nearly 62 percent of small businesses in America have four or fewer employees, and we know in South Florida that number tops 90 percent.

Helping small businesses scale offers enormous, and largely untapped potential in creating new jobs and generating economic development, according to a new report titled “The State of Small Business in America” by Babson College.

“We all benefit if we are able to foster a vibrant entrepreneurial ecosystem that best supports ongoing small business growth and job creation in America,” said Babson College President Kerry Healey. “Public and private sectors must work together to support small businesses, which comprise 99 percent of all U.S. employer firms and which account for more than half of the private sector’s net new jobs over the past two decades.”

More than 1,800 businesses across the United States were surveyed for the report. Most of them were participants in Goldman Sachs 10,000 Small Businesses, a national program available in South Florida that helps existing small businesses grow. Key findings included:

Obtaining capital remains a big hurdle. Small businesses are four times more likely to go to a bank for capital needs. Looking across all sources of capital, survey respondents apply for a median amount of $100,000, but receive only 40 percent of what they seek. Businesses say they need more flexible loan terms.

Business owners find regulation both difficult and time-consuming. On average, four hours per week is spent dealing with government regulations and tax compliance, which totals over 200 hours per year.

The skills gap is overwhelmingly a small business owner’s No. 1 issue with respect to hiring. Over 70 percent of respondents find it difficult to hire qualified employees because they say potential candidates lack the requisite skill sets — over and above competition for talent, salary requirements, and the provision of benefits.

This new report comes out on the heels of the Kauffman Foundation’s Index of Growth Entrepreneurship ranking the Miami area as second to last among metro areas for scale-up businesses. Yet the 10,000 Small Businesses Program, among other programs, is directly addressing the very issue of helping existing small businesses to scale, including assistance with capital raising, navigating government regulations, and team building.

And it’s working.

Nationally, over about six years, 10KSB with program locations in 22 states has now served more than 6,100 businesses, representing more than $5 billion in total revenues and more than 80,000 employees. Nationally, more than 60 percent of program alumni have added jobs 30 months after graduating with average job growth at the rate of 114 percent, and 82 percent of program alumni have increased revenues by an average rate of 106 percent within 30 months.

John Hall, executive director of the 10,000 Small Businesses at Miami Dade College program, said the growth trends of local 10KSB graduates have been consistent with the national averages. The local, free 16-week 10KSB program, which uses Babson’s curriculum and supplements the education with individual mentorship and a sharp focus on growth strategy, kicked off its first cohort in early 2014.

Enrique Torres, who owns Excellent Fruit & Produce in Miami, was part of Cohort No. 1. Since graduating in May 2014, he said his company, a fresh produce distributor to restaurants, hotels and hospitals in the region, has more than doubled revenues and employees. Through the program’s workshops, “I discovered the identity of my company,” he said, and that resulted in a complete re-branding, from new trucks to the design of the produce boxes.

Torres said he learned how to hire smarter, professionalize procedures, add technology to make the company more efficient and, in essence, “using all the tools to attain your goals.” Networking with fellow entrepreneurs who are outside his industry was also very valuable, he said. The homegrown company that he has owned since 2005 now has 16 full-time employees.

Locally, 39 companies are enrolled in Cohort 8, the largest class yet for the business education program that launched at Miami Dade College in September 2013 with $5 million in funding from Goldman Sachs.

“The local program has served a total of 230 businesses to date, representing more than 3,900 jobs throughout Greater Miami and more than $340 million in aggregate revenues,” Hall said.

The 10KSB program at Miami Dade College’s Wolfson Campus runs several cohorts every year. Applicants should own or co-own a business in operation for at least two years, with at least $150,000 in revenues in the most recent fiscal year. To apply, visit http://www.10KSBapply.com or call or call 305-237-7824.

Babson College is also involved locally in launching the Women Innovating Now (WIN) Lab, a new Miami accelerator program that aims to help female entrepreneurs start and grow businesses. Find out more about WINLab here.

Follow Nancy Dahlberg on Twitter @ndahlberg. Read more small business coverage here.

June 06, 2016

Multi-campus StartUP FIU gets ready for takeoff

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Emily Gresham and Robert Hacker, shown at Florida International University’s Chaplin School of Hospitality and Tourism Management, are spearheading the StartUP FIU program. It will include three hubs, with programs for food businesses, tech and social entrepreneurship, and will be open to the community as well as to students. Alexia Fodere For The Miami Herald

Below: One of the events held for students as part of StartUP FIU. Photo by Daniela Ferrato.

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By Nancy Dahlberg / ndahlberg@miamiherald.com

Cheng photoIn the culinary kitchens of Florida International University’s Chaplin School of Hospitality and Tourism Management, Michael Cheng smelled opportunity. The commercial facilities were only being used about half time; as the director of the food-and-beverage program, Cheng thought FIU should offer the excess capacity to companies for a fee.

But after a discussion with Emily Gresham, who is spearheading a university-wide StartUP FIU program, and its student leader Valeria Siegrist, Cheng’s mindset changed. “They opened my eyes... They told me ‘there is an entire community of food entrepreneurs out there who would die to have this space but they can’t afford it.’ and I said ‘Well, let’s open that up to them.’ That’s how Food FIU got started.”

Beginning this fall, the Food FIU program will help entrepreneurs from low- and moderate-income communities in three stages of development – those at the idea stage, entrepreneurs selling in farmers’ markets but are ready to move to the next level, and later stage companies that want to scale. Cheng (pictured at right), who is also an associate processor, said StartUP FIU will start working with firms from North Miami, where the Biscayne Bay Campus is located, with a potential Homestead outpost at a later time. The program is free, and the entrepreneurs do not have to be affiliated with FIU in any way.

The Food innovation hub, supported in part by a $500,000 grant from Citi Foundation, will be one leg of a larger effort called StartUP FIU launching this fall. The interdisciplinary multi-campus resource for students, faculty, staff, alumni and entrepreneurs in the community will include physical spaces, programs and events for entrepreneurs and entrepreneur-wannabes to meet, collaborate, be mentored and take training. An accelerator will work with teams on commercializing concepts.

“Our economy increasingly offers opportunities to people who are able to make good jobs rather than take good jobs. We see this transformation as emblematic of what we have to do at FIU,” said FIU President Mark Rosenberg. “FIU is a huge cluster of talent ... What we are trying to do is provide platforms for that talent to come together around the capabilities that we have. ... We want to provide a safe haven for that talent to come together, with some supervision, to develop products, ideas and opportunities.”

Initially, StartUP FIU, will take root in three locations: the Modesto Maidique campus in Sweetwater, the Hospitality School at the Biscayne Bay campus, and a facility near Tamiami airport serving the growing cadre of technology and medical businesses there. The program has been appropriated $1.25 million from the state in addition to the Citi Foundation funding. It is run by Gresham, FIU’s assistant vice president for Research – Innovation and Economic Development, and Robert Hacker, StartUP FIU’s director.

The program joins existing FIU entrepreneurship resources including the Small Business Development Center, a new Tech Station, the Miami Fintech Forum and the Pino Global Entrepreneurship Center, most located on the Maidique campus on Tamiami Trail. FIU is also a designated “changemaker campus” for Ashoka, the global network for social entrepreneurship.

Despite those existing resources, students had no one-stop-shop for connecting with resources, concluded StartUP FIU’s team after conducting more than 100 interviews with students, faculty and community leaders. Often, students didn’t know where to go, nor were they connecting with the larger community.

“Our students are our energy, our talent, and the diversity of our students, faculty, alumni and the community improves collaboration,” said Gresham. “We’ve decided to have a more inclusive StartUP FIU, which means everyone’s welcome.”

Regionwide, students have more resources than just a few years ago. The Idea Center at MDC opened 18 months ago with an accelerator for MDC students, startup contests, events and a coding school. The University of Miami has been expanding its commercialization efforts, particularly in the healthcare area, working closely with dozens of startups. Florida Atlantic University in Boca Raton opened Tech Runway, an accelerator that also offers funding and mentorship for student and community teams. Broward College opened its incubator last month.

These join a region-wide effort, fueled by the Knight Foundation, to accelerate entrepreneurship by expanding resources for mentorship, talent-building and funding. Entrepreneurial co-working spaces, incubators and accelerators have been proliferating, but most are in Miami’s urban core.

That’s the void in the ecosystem StartUP FIU hopes to help fill by focusing on Miami-Dade’s lower income communities and far west suburbs. “There’s a lot of activity, but we are still looking for depth, right?,” said Gresham. “We think we have something to offer in terms of depth building.”

Social entrepreneurship will be a key facet of the program, said Hacker. He expects ongoing themes to include sustainable cities, sea level rise, food supply, medical technology and education technology. An international businessman, Hacker has been teaching entrepreneurship and socially concsious business for more than a decade at FIU’s Honors College and Engineering School and MIT’s Sloan School.

“Miami enjoys the distinction of being the only city in the world that has two Ashoka Changemaker campuses – FIU and MDC. I think that both universities are fomenting all kinds of social entrepreneurs looking for support. We are interested and committed to putting incubators in communities that have not been served by incubators, and I think that will also naturally produce social entrepreneurs,” said Hacker.

As a startup itself, StartUP FIU has been developing over the past year, gaining grassroots support. StartUP FIU student directors Siegrist and Alessia Tacchella took Hacker’s course on Entrepreneurship and Design Thinking. That got the entrepreneurial juices flowing. But instead of working on their own startups, they jumped on the opportunity to help develop StartUP FIU. Tacchella, a finance/economics major who recently graduated, took the lead.

They gathered a diverse group of students with marketing, finance and technical expertise and began meeting weekly to plan the launch and test concepts, she said. About 80 to 100 students have been turning out for events. “When you tell them you want to help them to make their idea become a company, they are thrilled about it. They can’t believe all the resources we are bringing in on campus,” said Siegrist, a communications student.

Wifredo Fernandez, who co-founded The LAB Miami and was one of the founders of MDC’s’ Idea Center, offered insights on best practices and valuable connections, said Gresham. He now works with Gresham in the Innovation and Economic Development department and is StartUP FIU’s associate director.

Applications are being accepted at startup.fiu.edu for the accelerator’s first class. The free 13-week program will begin Sept. 6, will include weekly programs, mentorship and regular milestones for teams to meet, and end with a traditional demo day in which teams pitch to investors. The new StartUP FIU hub at the Maidique campus, a-10,000-square-foot space in the Marc building, should be ready by January; the program will operate in temporary space until then. Programs at the Biscayne Bay campus and near the Tamiami Airport will also get underway in the fall. The services are free.

“It’s an idea whose time has come,” said Rosenberg. “We’re pumped, we’re ready to go.”

Nancy Dahlberg; 305-376-3595; @ndahlberg

 

 

 

 

May 25, 2016

Calling all healthcare entrepreneurs and innovators

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By Christian Seale

If you are reshaping the future of healthcare, Startupbootcamp Digital Health wants to meet you. And offer our help.

With our partners at the Knight Foundation, Nicklaus Children’s Hospital, the University of Miami Health System, Univision and Microsoft we are building Miami into a global hub for healthcare innovation. We encourage you to join us.

As part of our mission to find the best healthcare entrepreneurs globally and plug them into Miami’s growing ecosystem, we have traveled to over 20 cities to meet fearless, ambitious and extraordinary founders like yourself. If you haven’t already, reach out and set up a virtual or in person office hours in Miami.

Our applications close on June 10. So, the time to act is now!

We are looking for entrepreneurs working at the intersection of healthcare and technology and focused on making our healthcare system more equitable, efficient and accessible for all.

Our promise is simple: you will achieve one year of progress in three months. Take a look at the over 300 startups that have already done so.

For the companies selected to our program we will provide seed funding, mentorship, six months of free office space in the heart of Miami, in kind-services from Google Cloud, Amazon Web Services, Salesforce for Startups, Intel and Paypal and access to the most relevant network of corporate clients, investors and mentors.

During our program, you will interact with national network of healthcare providers and insurers including Ascension, Nicklaus Children’s Hospital, Jackson Health System, the University of Miami Health System, Duke University Health System, Mount Sinai, MD Anderson Cancer Center, Florida Blue, Aetna and Healthways among many others. Over 100 mentors will help you refine, grow and scale your business and prepare you to present at our 400+ attendee Demo Day in Miami.

We invite you to join us as we build Miami into a globally recognized hub for innovation and together transform the future of healthcare.

We look forward to hearing from you.

Christian Seale is Founder and Managing Director of startupbootcamp Miami. Follow on Twitter @sbchealth. For more information, email digitalhealth@startupbootcampdotcom.

Read More: Startupbootcamp chooses Miami for first U.S. accelerator

May 24, 2016

Broward College launches accelerator in downtown Fort Lauderdale

Broward College announced the launch of its business accelerator, to be located at the downtown Fort Lauderdale campus on Las Olas Boulevard.

“This marks an exciting time for startup companies in Broward County,” said J. David Armstrong, Jr., president of Broward College. “Our business community partners have shared with us the need for support beyond the initial planning and business plan phase. We listened, and our accelerator will provide wraparound services to budding entrepreneurs as they refine their businesses to seek funding.”

The announcement comes on the heels of the success of the Innovation Hub at Broward College. In less than a year, Innovation Hub, directed by Enrique Triay with support from Professor Steven Gross, has generated significant activity. At the present time, there are 20 companies that reside -- or have weekly contact with -- the Innovation Hub, and many are capitalizing on the expertise provided by Triay and Professor Gross; business people who serve as consultants; and numerous students who actively are involved as interns in these companies. Two companies currently at Innovation Hub will be a part of Broward College’s new accelerator program.

Broward College launches accelerator in downtown Fort Lauderdale

Broward College announced the launch of its business accelerator, to be located at the downtown Fort Lauderdale campus on Las Olas Boulevard.

“This marks an exciting time for startup companies in Broward County,” said J. David Armstrong, Jr., president of Broward College. “Our business community partners have shared with us the need for support beyond the initial planning and business plan phase. We listened, and our accelerator will provide wraparound services to budding entrepreneurs as they refine their businesses to seek funding.”

The announcement comes on the heels of the success of the Innovation Hub at Broward College. In less than a year, Innovation Hub, directed by Enrique Triay with support from Professor Steven Gross, has generated significant activity. At the present time, there are 20 companies that reside -- or have weekly contact with -- the Innovation Hub, and many are capitalizing on the expertise provided by Triay and Professor Gross; business people who serve as consultants; and numerous students who actively are involved as interns in these companies. Two companies currently at Innovation Hub will be a part of Broward College’s new accelerator program.

3 tips for training your startup salesforce

By Mark Crofton

MarkcroftonI wrote  an earlier blog post here  on 4 sales tips for startups. Since then, I’ve had the opportunity to speak to many more early-stage Miami companies as well as take a new role leading a global sales training program. Here are (just) three tips based on those experiences:

1. Sales can be taught

It’s an age old assertion: Salesmen are “born, not made.” In fact, many people have told me that I’m a “natural” sales person or that I was “born” with all the attributes and talent to be a salesperson. Yet the truth is that while there are many attributes or traits which correlate to success in sales --such as enjoying interacting with others, ability to express oneself well-- there are also numerous skills to be learned to effectively run an enterprise sales cycle.

Few people enter this world intuitively knowing the best techniques for generating new opportunities, qualifying those opportunities, identifying all the relevant decision makers/influencers/stakeholders, or negotiating tactics. This is especially true if your early stage company is selling a product or solution that is even marginally complex to another business, as is an enterprise sale. The good news? There is a wealth of material, research and documentation on what works and doesn’t work in enterprise sales. You certainly can be taught the necessary skills.

2. Don't set and forget. Learning is an ongoing thing

Another well-known tenet in sales is that things change. Whether it’s your product, the competition, or the way your customer buys, if you don’t continuously give your sales team learning opportunities to catch up with change, they risk falling behind. At that point, it’s not only about losing to the competition, but the fact that their hard-earned customers simply won’t buy from them anymore, because they aren’t selling the way the customer buys.

Consider a fundamental way that selling has changed: determining where in the sales cycle to engage customers. When I began selling 20 years ago, most sales cycles began with a customer telling me about his challenges or problems. I would then look into my sales bag and present a solution, or better yet, several solutions that would solve his problem. I’d explain what each product did and how it would addresses his problem. The customer didn’t know very much about my products or often even about what was available in the market place. There was asymmetrical information: I knew a lot about my products and the customer generally knew considerably less. I was essentially engaging my customer in the early stages of the sales cycle.

Fast forward to today: It’s often the case that by the time the customer calls your sale rep, she understands their problem, is familiar with your product, as well as your competitors’, and has read all the reviews. She is simply much further along in the buying cycle. Therefore, the approach to the customer is different, and you need to provide your sales executive the ongoing training to sell accordingly.

3. Measure the impact, and then course-correct

Training your sales force is probably going to be a costly endeavor, both in terms of money and time. In addition, if you consider the cost of being out of the field, and not selling while occupied in class, the true cost can be much higher. So, why do so many organizations fail to track their return on this important investment?

In companies where I have worked, we compared the performance of a sales executive who took the new-hire onboarding class, versus those who did not. The data helped determine that it was a good use of his/her first week on the job, and this information was also used to convince other managers of new hires to make the investment. Ultimately, this could have an important impact for the company.

However, it is also valuable, but generally much more difficult, to track the effect of a single course. For example, what happens two quarters after your sales executives took a new Prospecting class? Was pipeline multiple affected? If not, is it necessary to eliminate the class or perhaps retool it? Having the right data on hand for instructional re-design is critical, as well as incorporating specific feedback to help course-correct.

As you consider your ongoing investment in your sales team, don’t forget to factor in some time and budget for training. If you follow these 3 tips, investment is sure to pay off.

Mark Crofton is a Vice-President at SAP SE. He is a leader of the SAP Academy, the global sales training program for developing the next generation of SAP sales executives. Mark is also involved locally in Miami mentoring and advising startups.

Read more: Four sales tips for startups

 

 

 

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May 17, 2016

Startup Weekend Education @ FIU: And the winners are ...

By @MarioCruz

What an amazing honor to be a Judge with Startup Weekend Education (#swedumiami) at FIU this past Sunday, May 15. The judges heard pitches from 8 teams, some teams with members as young as elementary school students.

The pitches were phenomenal and the amount of work these teams put in such a short amount of time was impressive. The best pitches clearly communicated the value proposition of the idea, had a simple prototype or flow that showed how the product or service would work, and addressed the business potential and educational impact of the concept. The prize winners were as follows:

Here are the top three winners:

1st Place: Liber-P, an Online/Offline content delivery platform that allows inmates to gain access to bridge the skills of higher education and help them prepare for the 21st century workforce. As a prize, three team members from Liber-P will be traveling next year to South-by-Southwest EDU in Austin, with flights and hotel covered!

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2nd Place: Blueprint Created a tool to help students set academic goals, understand their GPA and its determinants, and provide them with a suite of resources that will ultimately improve their life trajectory.

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3rd Place: @BookCloud Making education more affordable by offering unlimited e-textbooks to students on a subscription model.

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The judges also named Beyond the Grade with “Education Impact Award,” as an honorable mention. Beyond the Grade’s mission was to focus on growth, not grades, and created a parallel grading tool for schools and districts.

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Congratulations, not only to our winning teams but to everyone who participated this past weekend. A big thank you to The Knight Foundation for making the weekend possible as well as the mentors, volunteers and other judges (pictured below) who contributed so much to make Startup Weekend Education such a huge success.

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May 02, 2016

Registration open for free CS50x coding course at MDC

Registration is underway for CS50x Miami, the in-person version of Harvard University’s flagship online introduction to computer science course. It is now being offered free through an expanded partnership between The Idea Center at Miami Dade College and LaunchCode, a nonprofit that places aspiring developers and technologists into paid apprenticeships and jobs. The Idea Center is MDC’s hub for entrepreneurship. 

The 20-week class will provide students with a foundation in computer programming and web development that puts them on a path to launch a career in technology. All applicants must register and complete a skills assessment test prior to enrolling.

 “CS50x is the most efficient and cost-effective way to learn the skills needed to be a successful programmer,” said  LaunchCode Executive Director Brendan Lind. said  The Idea Center’s Executive Director Leandro Finol added, “Now, by offering it for free, we are confident in our ability to attract South Florida’s best and brightest applicants, particularly focusing on the inclusion of minorities and women.”

In addition to providing educational opportunities for students interested in learning how to code, LaunchCode places qualified candidates into apprenticeships and jobs in tech. To date, LaunchCode has placed CS50x Miami graduates with companies including MasterCard, Boeing, Modernizing Medicine, and Kairos.

To register or for more information, visit CS50xMiami.comClasses begin Monday, June 13.

April 25, 2016

MentorDay: How Miami leaders are paving the way for entrepreneurs

By Juan Lopez Salaberry

Wow! Thirty less headaches for Miami entrepreneurs, and a $50,000 prize. Twenty-two industry experts helped 30 entrepreneurs solve their business problems  in 45 minute sessions for high impact mentorship across 4 venues in Miami.

MentorDay, a new made-in-Miami platform, was launched this moth to give industry leaders and experts a chance to pay it forward to the community, helping up and coming entrepreneurs solve specific obstacles in their ventures. Mentor Day allows entrepreneurs and startups to receive high impact mentorship in free one-on-one mentorship sessions with industry experts on topics ranging from marketing, venture capital, growth hacking, accounting, legal and beyond.

I have witnessed first hand how mentorship has a deep impact in one's company and also how countless opportunities to work with impressive mentors are lost because of a lack of a mentorship culture. On its first edition, MentorDay received 60 applications, gathered 30 entrepreneurs, 22 experts and solved 30 specific business hurdles.

And magic did happen! We are extremely proud and humbled to be even a (small) part of Cetus Labs’s story. This is an amazing startup from Venture Hive, who applied asking for help with their pitch deck as they had been selected to present at the early-stage competition at Emerge Americas. They won the competition and took $50,000 with them! “Thanks to Mentor Day, we had a great meeting with RJ Roshi where he helped us perfect our pitch before the eMerge Americas startup competition, which we ended up winning!,” Luc Castera, founder of Cetus Labs, told us on a written note.

We created MentorDay to provide a platform for both mentors and mentees to feel comfortable and protected (We even created rules for that purpose.) No deceitful approaches and no broad open questions. We want to educate mentees on how they need to formulate their asks and be clear about them,  while allowing experts in various areas to donate their time in an effective way. With clear expectations before coming, both will end the meeting with the satisfaction of solving one specific problem.

This also de-personalizes mentorship and takes a ‘problem focused’ approach. Instead of having a line to meet & greet with one our mentors, we can be flexible and allow anyone -from the mayor to a visitor to a local hustler, - to be able to share their expertise and pay it forward.

MentorDay started in Miami, and it will hopefully start happening in other cities soon. Silicon Valley has a mentorship culture, however the rest of the world does not look like Silicon Valley. Miami does not look like it. As most nascent and developing entrepreneurial ecosystems, we have our own strengths and areas of opportunity and we have an amazing chance ahead of us to do something about it. There is amazing talent right here and by facilitating the connections we have an amazing future ahead.

MentorDay wants to empower local communities, we want to see each other’s faces, 1-on-1 meetings, in person, for free, at least once a month and help someone else have a fair chance. We want to democratize the chances of success, regardless race, gender, or age. Whether or not entrepreneurs  are part of Endeavor,  received investment, work at a co-working space, or from home and are just starting. We can all use some help.

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Photo by Al delcy

Magic happened

We had an amazing contribution from local and even guest mentors. The .CO crowd almost in full jumped in to help out, investors such as Christian Seale and RJ Joshi, entrepreneurs from Wyncode or Gasninja, among many others. Even my dear friend and former partner at 500 Startups, Cesar Salazar, who was visiting the city took one of the sessions and said: “I've been to a large number of mentorship events and this one has by far the best return on time invested.”

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Photo by Al delcy

Our first go at MentorDay also received the immense support of four venues: Building.co, WeWork, The LAB Miami and Venture Hive, in which at anytime last Friday you would have found a room with 1 mentor, and 1 mentee.

Our sponsors also rocked. LateralView helped us put together our platform in record time, building.co housed us since the beginning and StartupVisa also helped with the initial funding to set this not-for-profit off the ground.

Next MentorDay

We honestly had no idea what was going to happen last Friday. We did our homework and put a lot of hard work, specially Pete Kovach who was instrumental to the success of the day. But we honestly had no idea what the response was going to be like. Now we want more.

Now that the format has been proven we want to test the frequency. Ideally we want to hold MentorDay once a month (3rd Friday of every month) but it is ultimately the market that will really dictate what will happen.

Our next MentorDay is scheduled for the 20th of May and we have already aligned some incredible mentors. Applications are now open and will close May 9th. We have also put together 5 tips to make sure mentees have higher chances at getting a session.

Get ready, Miami - we are only getting started!

Juan Lopez Salaberry is the founder of the new Miami nonprofit, MentorDay.co.

April 14, 2016

Idea.me to expand to Miami, will launch Create Miami campaign to fund entrepreneurs

Idea.me, an international crowdfunding platform, on Thursday announced its expansion to Miami and the launch of the Create Miami campaign, which will help 20 Miami entrepreneurs receive funding for their ideas from investors in the United States, Latin America and beyond. The John S. and James L. Knight Foundation is investing $175,000 to bring Idea.me to the United States.

The Create Miami campaign will establish a platform to crowdfund ideas from entrepreneurs who are focused on creating social, urban or community impact in Greater Miami. The campaign aims to identify 20 entrepreneurs to feature on the Idea.me platform. The selected entrepreneurs will receive workshops, marketing support and coaching to help with business development and growth, in addition to fundraising opportunities through the Idea.me site. Knight Foundation will match 50 percent of any funds raised through the platform with a limit of $5,000 per project. Applications are open until June 15 at idea.me/createmiami.

Idea.me is the largest crowdfunding platform in Latin America, with more than 110,000 backers who have signed up to help fund cutting-edge ideas. Idea.me has funded about 1,700 projects, mainly in Latin America.

“As an international gateway, Miami was our first choice for global expansion,” said Alejo Nitti, Idea.me director. “Our goal is to engage and connect the Greater Miami community. We want to partner with passionate entrepreneurs to take their creativity around tech and innovation to the next level.”