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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]

 

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