As Argentina's entrepreneurial community grows, it looks to Miami as nexus point

By Natalia Martinez-Kalinina 

Argentina’s entrepreneurial, tech, and research sectors are on a remarkable upswing, and Buenos Aires is looking toward Miami as the first community to bridge the gap between the US and LatAm startup ecosystems and serve as a gateway for tangible collaboration. How Miami steps up to play the role of a connector, anchor, support system, and co-creator will arguably be a powerful test of our ability to evolve into a true regional point of convergence around innovation.

“Buenos Aires is strategically positioning itself to become a major global entrepreneurial hub. Human capital is one of Argentina’s most valuable resources, and with various government programs launching, it is only a matter of time before the city is recognized as the innovation epicenter it has become,” says Lisa Besserman, the founder of Startup Buenos Aires who now works with the city on startup initiatives.

“Working closely with US cities like Miami will help bridge the gap between our nations, allowing us to create a more globalized startup ecosystem. Miami has always been regarded as the gateway to the Americas, so working with the city to create targeted soft landing programs and investment strategies creates opportunities for many global entrepreneurs,” says Besserman. Taking a more abstract view, she adds, “While some people are discussing building walls, Miami and Buenos Aires are working together toward building bridges.”

Argentina is already becoming South America’s new hotspot for venture capital, with the growth of inflow starting to outpace neighbors that have gotten much more attention over the last decade, mainly Chile and Brazil. George Soros has invested in an Argentine startup for the first time in 15 years, the country is regaining credibility by leaps and bounds and is expected to be upgraded to an ‘Emerging Market’ next year, and Wharton professor Stephen Sammut (a private equity and emerging markets expert) urges that, “Savvy people who are looking for a foothold in Latin America may see [investment in Argentina] as a golden opportunity.”

Startups in Argentina still face significant regulatory and quotidian challenges, including inflation, legal red tape, restrictive labor practices, and the overall recovery from more than a decade of disenfranchisement from the global economy. Luckily, current Argentine startups can gain inspiration from the country’s famous startups of the late 90s and early 2000s – Argentina has the most unicorn companies in LatAm. They can also rely on their capacitated human capital and tout the amount of agrotech, pharmaceutical, biomedical, and health tech research happening in several hubs. More relevantly, they can rely on changes from the federal and city governments, which have been focused on passing laws that support entrepreneurship, promote impact investment, incentivize startup acceleration, and even tackle the sacred cow of labor reform.

One such program, IncuBAte, is a government sponsored seed fund that offers startups from anywhere in the world as much as $30,000 in equity-free funding, free office space in Buenos Aires for a year, and access to mentorship, government resources, and investments. This year, 100 startups will be selected across ten verticals, applications close on December 28, and incubation begins in March 2018.

Given that the program is open internationally but will be conducted in Spanish, Miami is perceived as being in the best position to act both as a loudspeaker for startups in the Latin American region as well as the nexus point for promotion for US-based startups interested in expanding to the LatAm market. The Buenos Aires government is hoping to see more regional and U.S startups coming through, so there’s hope to see some Miami companies in the mix.

 

Andy Freire, Minister of Modernization for Buenos Aires, looks ahead at these increasing connections. “Diversity inclusion is a competitive advantage, one that has been recognized and catalyzed strongly in Miami," he says, "Connecting the entrepreneurial ecosystems between Buenos Aires and Miami will help more people reach the tools they need to scale their startups, through programs like IncuBAte and shared soft landing initiatives. We believe this will be key to empower families and drive economic growth between both of our cities.” 

 

Overall collaboration with Argentina is also being worked on from the Miami side. As a first step to test these waters, a group came together in late 2016 to co-author a full day of Miami-focused 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 our city. CIC Miami has expanded on and concretized these efforts by signing agreements with several public and private partners in Argentina to help softland startups, advise commercial missions, and promote investment opportunities.

Just recently, the City Government of Buenos Aires brought an entrepreneurial mission to Miami, in addition to a more traditional enterprise delegation; it was the first pilot of what could come with more local on-the-ground support and was a successful first step toward more exchanges. Conferences and gatherings with a proven track record - such as Red Innova - will also be landing in Miami from Argentina next year with workshops and events aimed at connecting stakeholders across entrepreneurship and innovation.

In addition, a few interested and more seasoned entrepreneurs have come together with the support of the Argentine Consulate in Miami to create a better toolkit for entrepreneurs and small companies looking to come to Miami from their native country. The Entrepreneurship Committee has officially launched, is looking for local collaborators as well as startups in need of support, and can be reached at [email protected]

Natalia Martinez-Kalinina is the General Manager of CIC Miami and the Founder of Awesome Foundation MIAMI, and co-Founder of Aminta Ventures. She can be reached at [email protected]

 

'The Future' is Dec. 14 - Miami startups to unite for massive holiday party at a secret location

 On December 14, something massive is happening in Miami. It doesn’t involve the beach, models, bottles or any of the glitz, glamour or beauty that Miami has become known for.

In a secret location somewhere in Little Haiti, the city’s coders, creatives, founders and investors will gather. The celebration will bring together the entire Miami startup ecosystem for one night, and one huge party.  Attendance is expected to exceed 1,000 attendees, nearly triple last year’s 1^st annual event at Wynwood Yard.

here is much to celebrate from the year past and for the even brighter future that lies ahead for the Magic City.  The party is aptly named, The Future. It’s produced by Miami made., a grassroots organization uniting Miami’s top founders as one tribe committed to a collaborative startup community that thrives together with founders backing founders.

“Many startups here in Miami don’t have the time, money or resources to host a holiday party for their company for all employees, investors and favorite service provides. Now they can all celebrate together as one community,”  said Miami made founder Barry Stamos.

Joining Miami made. in creating an ecosystem wide holiday party in partnership with nearly every organization involved in Miami’s startup scene. This includes Refresh Miami, The LAB Miami, Endeavor Miami, Building.co, CIC, Ironside, WeWork, Creative Glue, 1heart, Prism, AGP, New World Angels, The Venture City, Rokker, Unbound, Bridges Unite, Reset and others…. The event is generously sponsored by Knight Foundation, JP MorganChase, Wyncode Academy, Innergy Meditation, A.N Other and Springtech Partners

“Miami has a lot to celebrate and even more to look forward to. As an organization dedicated to helping the founders of Miami thrive, we felt compelled to help create a collective celebration. We are proud to be Miami made!” added Brandon Evans, co-founder of Miami made.

Much of what will occur at The Future celebration is being kept secret. The location, performers, and other surprises are being withheld. Just like the actual future, you can’t predict it, you can’t fully know it. Most of those in Miami best at predicting the future will be in attendance, but they too will have to wait to realize how glorious The Future will be.

Here’s what we can tell you:

Date: Thursday, Dec. 14 @ 8:00pm - late

Location: Secret Location in Little Haiti (to be revealed at 11:11am on Dec. 14)

Tickets and info: bit.ly/thefutureparty - Early bird prices currently available. Tickets start at $15 and go up to $750 for a VIP table for 10 for those companies that want to bring their team in style.

 

Sponsorships: Limited sponsorships still available. E-mail [email protected] for details

List of Sponsors: Knight Foundation, JPMorganChase, Wyncode Academy, Innergy Meditation, A.N Other, Springtech Partners

List of Community Partners: Refresh Miami, 1heart, Endeavor, WeWork, LAB Miami, CIC, Building.co, The New Tropic, Ironside, Prism, AGP, New World Angels, The Venture City, Rokker, Unbound Miami, Bridges United, Reset MIA

Find event details here: bit.ly/thefutureparty.com

-submitted by miami Made

CarePredict tracks seniors’ health for caregivers in a natural way

Startup Spotlight: CarePredict of Plantation, founded by health-technology veteran Satish Movva, provides an AI-driven platform for elder care that uses deep learning to surface insights based on the activities of daily living of seniors.

Company: CarePredict

Headquarters: Plantation; also has an office in Silicon Valley.

Concept: Elder care powered by artificial intelligence.

Story: Health-technology veteran Satish Movva founded CarePredict to help him take care of his now 90- and 80-year-old parents. They live 10 miles away from where he lives in western Broward County, and because of their advancing age, he could not rely on one to keep an eye on the other.

He noticed that changes in activity and behavior patterns showed up well before the underlying issues manifested into medical conditions and sought a system to observe his parents continuously and let him know of these changes early enough to intervene.

Finding the existing technologies inadequate and outdated, Movva set about creating a first-in-the-industry system to observe the daily activity and behavior patterns of each parent individually and with privacy, and alert him to anomalies. Movva has worked in technology for 30 years, 23 of them in healthcare, including being the founding CIO for Sheridan Healthcare and creating its first mobile EMR device on the Palm Pilot. He also created the first web-based home-care platform at Interim Healthcare.

CarePredict is an AI-driven platform for elder care that uses deep learning to provide insights based on the daily activities of seniors. It starts with a wearable — a bracelet — that collects data that is sent to an app.

“We collect our data through lightweight sensors for contextual cues and a wearable,” Movva said. “We detect activities a senior is performing such as eating, drinking, bathing, cooking, sleeping, functional activity, and we couple that with contextual cues to surface insights like self-neglect, for example, due to depression, unusual toileting patterns, for example, due to UTIs, malnutrition and dehydration, all without any self-reporting by the senior or need for any other human observer.”

That includes fall prediction, too: “This whole industry has been fixated on fall detection ... but the issue is when someone falls it is too late. Falls are the single biggest inflexion point in aging, ... if you can prevent those falls you are better off. We are probably the pioneers in figuring out fall prediction rather than fall detection.”

CarePredict has been commercially available to senior group living facilities and home care agencies since March. Four senior living chains are already using the platform. CarePredict, now a team of 17 engineers and data scientists, has hired a sales team to ramp up business development in 2018. The company plans to address the direct-to-consumer market in the future.

“This company has the DNA to be enormously successful — the right team, the right market and the right solution. It’s not going to happen overnight, but they have all the right things going for them,” said Peter Livingston, a CarePredict investor and board member.

Launched: Company formed in May 2013

Website: www.carepredict.com

Management team: Satish Movva, founder and CEO; Greg Zobel, chief growth officer.

No. of employees: 17

Financing: $5.2 million in prior rounds that included South Florida-based Las Olas Venture Capital.

Recent milestones reached: Started commercializing product in 2017; four commercial assisted living and memory care enterprises signed up in the U.S. and Canada in 2017; three U.S. patents granted in 2017; one of two U.S. companies selected by Google for their “Google for Entrepreneurs” mentorship in deep learning and AI in Waterloo/Toronto campus; opened office in Palo Alto, CA in 2017.

Biggest startup challenge: Building the team and funding the mission.

Next step: Scaling the company. CarePredict is raising funds to expand company operations for installations and training and bringing on experienced industry sales leaders to increase outbound sales.

“CarePredict is solving a big problem, in a rapidly growing market, in a novel way,” said Dean Hatton, a founding partner with Las Olas Venture Capital and a CarePredict investor/board member. “The company has built a robust pipeline of interested prospects. Interestingly, this has been accomplished without sales or marketing efforts, principally through word-of-mouth in the assisted living facility ecosystem. Recently, Satish has added sales resources and will soon launch an outbound sales effort. The demand will be immense. Meeting that demand will be the greatest challenge ahead.”

Follow @ndahlberg on Twitter.

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Startupbootcamp Digital Health Miami announces 13 startups for second cohort

 

Startupbootcamp Digital Health Miami, an innovation program and fund, announces the 13 companies that will be joining their second cohort.

The cohort was selected after an intensive two-day evaluation and selection process on November 17-18. The 13 selected startups were chosen from over 300 applicants that applied during the recruitment months.

Teams pitched their businesses to over 100 healthcare executives, investors and mentors industry experts from Startupbootcamp’s corporate partners such as Nicklaus Children’s Hospital and Accenture as well as representatives from Marsh, Towers Watson, Philips, UnitedHealthCare, Zaffre Investments, Mayo Clinic, CVS Health, Optum, Carolinas Healthcare, Catholic Health Services, Thorek, Health Choice Network, University of Miami and Baptist Health. These representatives also mentored the participating companies and explored collaboration opportunities.

The 13 selected startups are:

B.well: is a consumer centered health management platform designed to deliver what consumers want and monetize to what payors, employers and providers need.
 
BrainFX: BrainFX 360 assessment is a web and tablet based assessment of Neurofunction that measures complex cognitive skills using real world context.
 
Cybexys: proprietary platform CARAT uses a natural language processing to detect details that humans might miss when they are processing unstructured information from a clinician's narrative and trying to properly code the severity level of each patient disease state.

Empower Capital: is a financial engineered HSA plus program that ensures liquidity to all employees with high deductible plans.

Epharmix: creates and validates disease-specific "digital interventions" to help care teams manage and support medically underserved patient populations across twenty of the most expensive and difficult medical indications.

FRND: is a platform used to connect MDs, payors, and providers to a network of mobile practitioners for housecalls.

HealthTensor: clinically-validated algorithms automatically diagnose and create documentation from patient data, saving physicians time, improving patient care, and improving note accuracy for coding and billing.

NarrativeDx: collects patient feedback and satisfaction data from internal sources, discharge surveys, HCAHPS surveys, social media channels, and physician review websites.

NeuraMetrix: has developed a technology, based on typing cadence, to detect and monitor the progression of brain diseases, disorders and injuries by measuring human cognitive and motor function at the sub-clinical level based on significant capabilities in quantitative methods and proprietary software.

Quick’rCare: is the only platform focused on assisting patients find the shortest  wait time at  an ER or Urgent care, and hold their place in line.

SaveMyScope: has created a mobile phone adapter and application on the App Store that removes the need for physicians to use bulky, expensive video towers.

Twiage: allows EMTs and paramedics to collect and send high-quality prehospital data instantly via a smartphone.

Wellth: is focused on improving adherence and decreasing readmissions by helping patients change their behaviors so they get better faster.

“We are proud to see this set of companies build on our first cohort with greater diversity of founders, product category, stage, geography and revenue. Miami is poised to become recognized as a global hub for healthcare innovation," said founder and General Partner Christian Seale.

"Startupbootcamp continues to help fill important gaps in our innovation ecosystem by attracting new talent to Miami and providing a platform for startups to scale and grow. This second cohort of entrepreneurs will bring fresh ideas and energy to our city, adding to the momentum of our expanding startup community," said Chris Caines, interim program director for Miami at the John S. and James L. Knight Foundation, a Startupbootcamp supporter, which helped bring the accelerator program to the United States in 2015.

The program kicks off on January 15, 2018 when the startups will relocate to Miami. The program offers participating companies partnerships with leading hospital systems, insurers and pharma to accelerate and scale their businesses, extensive mentoring from over 150+ healthcare entrepreneurs, investors, and executives in addition to six months of free office space and seed funding.

- Submitted by Startupbootcamp Digital Health 

 

Miami is fertile ground for world-class product design

By Gessica Tortolano

With 20 yrs of experience building and leading User Experience (UX) teams from Boston to Silicon Valley on projects for Google, Facebook, Gap, Samsung and other exciting brands, I am bringing my expertise back to South Florida as head instructor of UX/UI Immersive, an intensive 8-week program at Miami’s Wyncode Academy.

UX is about solving real problems and addressing pain points, not just making something cool as a product or a feature. It is about storytelling, screen composition and clear paths to completion, while removing friction, not just rearranging elements on a screen. As a problem solving framework, UX puts the user at the heart of the process. It results in a better experience thereby producing better products.

With IOT, voice user interfaces, the blend of digital and physical experiences, and new devices entering the market daily, it is critical to realize a connected, holistic experience.

Miami is a beloved vacation destination, but I truly believe it is so much more. A creative and diverse culture like Miami’s is fertile ground for world-class design. This program will help nurture a new generation of product designers who will lead the charge in quality design in our ecosystem.

As a former resident of Miami, I worked with aspiring designers through community initiatives at University of Miami, IT Women, Honey Shine Inc., and Urgent Inc. I was overwhelmed and humbled by their interest in UX, it was palpable.

Since the beginning of my career I’ve worked with many of the world’s biggest brands, including Burger King, Instagram, IBM, the NBA, Chrysler, Coca-Cola, GM, Norwegian Cruise Lines and Carnival Cruise Lines.

It is after all these years, and diverse experiences that I am compelled to share and teach my expertise. I recall telling Johanna Mikkola, co-founder of Wyncode, it was time for me to foster a new generation of designers. Together with Wyncode that is what we will do.

It was clear, I had to partner with a school that was just as committed to quality in their programs as I was about design. I had to ensure the future UX designer would marry their skills with a methodology.

In the valley, large brands are anxious to blur the lines between physical and digital. They are running experiments and adopting Design Thinking, a human-centered methodology that reveals truths about how confident we are in a feature or product.

Product designers grasp the importance of being flexible, nimble, and are experts in team inertia and momentum. Most will hone their skills, but with a solid foundation, they can own end-to-end product development.

The Googles and Facebooks are looking for agility and iteration. Value over deliverables became my world and I am thrilled to help build an ecosystem rich with designers who practice true product development.

Curious to learn more? Join us at our UX/UI Design Workshop: Bridging The Physical & Digital World event December 7, 2018 7:00 - 9:00 PM. Classes start Jan. 22, 2018 Program details at wyncode.co or email [email protected]

Gessica Tortolano will be head instructor of  of UX/UI Immersive, an intensive 8-week program at Miami’s Wyncode Academy.

ITPalooza is back Dec. 7 and SFTA has big plans for it

 

The South Florida Technology Alliance announced its 6th annual ITPalooza  will take place on Thursday December 7 at a new venue, The Greater Fort Lauderdale-Broward County Convention Center, located at 1950 Eisenhower Blvd. in Fort Lauderdale.

ITPalooza is an annual gathering of South Florida's technology professionals, CIOs and CTOs, user groups, educators and companies. This year’s event will feature over 120 exhibitors and more than 2,000 registrants, 50 speakers and tech meet-up and user groups from across South Florida are expected to attend the biggest and best ITPalooza ever.

“ITPalooza 2017 is a celebration of technologists in South Florida,” said Rick Sebaly, SFTA’s immediate past president and this year’s ITP event leader. 

This event Includes Educational Speaker Tracks, Keynotes, several panel discussions, Agile Group, Expo, charity toy drive, After Hours Tri-county vBeers Networking event and VIP After-Party. ITP will also feature a dedicated Management Track in conjunction with the CIO Council of South Florida focusing on the unique needs of CIOs and other top-level IT executives.  

IT User and Meet-up groups are invited at no charge provided they bring an unwrapped toy for Toys-For-Tots. They will be entitled to a display table and free admission for their members after 5:30.

ITP registrations start at 8 AM with the following schedule:

8:45 a.m. Opening Remarks by Tom Conophy, CIO, Autonation

9:00 – 7:00 P.M. Expo and Vendor Exhibits

9:00 a.m. Morning Keynote Address by Corey Williams

10:00 a.m. Panel: The Impact of Women in Tech

11:00 a.m. Panel: Entrepreneurship

12:00 p.m. CIO Council CIO and VIP luncheon featuring Kyle Leciejewski, VP, Dell EMC – Dell’s perspective on the industry

1 P.M. Afternoon Keynote

 Additional panel discussions from 2:00 to 4:00 P.M.

5:00 P.M. Awards Ceremony and Toys for Tots presentation

5:00 P.M. – 7:00 P.M. Tech Groups and Meet-Ups

5:30 P.M. – 8:30 P.M. Tri-county vBeers beers and networking

5:30 P.M. – 8:30 P.M. VIP Cocktail/Dinner Reception

Since its inception in 2012, ITPalooza has raised more than $193,000 in cash and toys   for various South Florida non-profits including Miami-Dade County Public Schools’ STEM Advisory Board, The Stockdale Foundation and US Marine’s Toys for Tots.   

Admission is $65 or they can bring two unwrapped toys - for the “Toys for Tots” charity and pay only $35.  VIP tickets are available for $250, providing participants access to all CIO and ITPalooza events with breakfast, lunch, dinner and entertainment included – plus entry into VIP Lounge.  Student admission to evening events only is $15, with the presentation of a valid student ID.

Admission to the after hour tech meet-ups and vBeers events are free – just bring a toy.

Online registration can be accessed at itpalooza.org/tickets.  VIP and Student tickets are also available for purchase. Information on sponsorship opportunities is also available on the site.

- Submitted by ITPalooza

 

Miami is heating up with startups. Babson GEM report sheds light on who they are.

By Nancy Dahlberg / [email protected]

If it seems like everyone you meet is an entrepreneur these days, there’s a reason for that.

Miami has one of the highest rates of new entrepreneurial activity in the country, nearly twice the national average, according to a 2016 Global Entrepreneurship Monitor report released Monday by Babson College.

While 12.6 percent of Americans were starting or running new businesses during the past two years, 22 percent in Miami were doing so, according to the GEM report. And they are likely to be older and more educated with a higher income than their counterparts in many other cities.

Miami has long depended on small businesses more than large corporations. For the past decade, it has been a hotbed for new business creation — a trend that has caught fire as tech-related startups have increased. In South Florida, as in other areas of the country, organizations and universities have been focused on accelerating entrepreneurship with new programs, mentorship, pitch opportunities and co-working spaces. Even Babson itself has launched an accelerator for women and graduate programs in Miami recently.

 

For the first time, the highly-watched study included a city-level analysis of entrepreneurship in Boston, Miami and Detroit to provide a window into how entrepreneurship thrives locally. “It’s important to identify and monitor a city’s needs and monitor progress relative to entrepreneurship, whether that means, for example, supporting women or youth entrepreneurs or assisting ventures that introduce innovations or create jobs,” said Donna Kelley, a Babson College professor and co-author of the report.

The American Dream is alive and well, according to the study. Nationally during the past two years, more than 25 million Americans were starting or running new businesses in the United States. More than half of Americans see good opportunities around them for starting a business. That’s 57 percent versus 41 percent globally — a sharp rise from the depths of the recession in 2009, in which just 28 percent saw good opportunities.

In Miami, 65 percent perceive good opportunities around them and more ventures have international aspirations than a lot of other areas.

However, the report isn’t all sunny. Miami entrepreneurs start businesses out of necessity and don’t last more than a year more often than the nation as a whole. Miami also trails in innovation.

[READ MORE: What’s the average tech salary? How many startups are sprouting? A by-the-numbers look at Miami]

Here are some of the GEM report’s national and local findings about Americans who are starting or running new businesses:

▪ It’s not all millennials in hoodies eating ramen noodles, and that’s not because of the weather. Those most likely to start or run a new business in Miami are in the 35-54 age group and in the highest income category, above $100,000. Miami entrepreneurs are also more likely to have some graduate school education than the nation as a whole.

▪ U.S. entrepreneurs are driven most by opportunity (88 percent). Those who started businesses out of necessity nationally dropped to 11 percent. However, in Miami, nearly one in five entrepreneurs — 19 percent — are driven by necessity rather than opportunity.

▪ Thirty-seven percent of all U.S. entrepreneurs are developing and delivering innovative products or services, the highest level on this indicator in 15 years. However, in Miami, that level is just 24 percent, compared to 46 percent in Boston and 43 percent in Detroit.

▪ Miamians are most likely to start business in professional services, followed by wholesale/retail and manufacturing/transportation, the study found.

▪ The gender gap is wider in Miami — 28 percent of males versus 16 percent of females are starting or running new businesses than in the nation as a whole. Still, the slight overall rise in U.S. new entrepreneurial activity is because more women entered entrepreneurship last year than the year before, while this level has remained the same for men.

▪ Compared to national averages, Miami and Boston have more than twice the proportion of entrepreneurs who plan to have more than 25 percent of their total sales go to international markets. And in Miami, more new businesses have international aspirations than established businesses.

▪ Miamians are bullish. They are more positive about their entrepreneurial capabilities and report a lower fear of failure than the nation as a whole. More expect to add employees, too.

Now in its 18^th year, GEM is the largest single study of entrepreneurship in the world. The GEM U.S. team, based at Babson College in Massachusetts, is one of 65 national research teams that conducted an annual adult population survey in their economy in the summer of 2016.

The survey results tracked similar trends found in the Kauffman Foundation’s reports, which showed the Miami metro area as No. 1 in the country for new business creation. However, Kauffman’s reports also ranked Miami near the bottom of 40 metro areas for growth entrepreneurship.

Read more about the GEM report here.

Follow @ndahlberg on Twitter.

Doing well by doing good: Social ventures on the rise in South Florida

 

By Nancy Dahlberg / [email protected] 

Chances are you’ve popped a pod into a Keurig machine today, and you may have felt a wee bit guilty about the environmental impact of that convenient jolt of java.

Daniel Buelhoff is aiming to mitigate the damage. Buelhoff is the co-founder of Gourmesso, the online market leader for environmentally friendly Nespresso compatibles in the U.S. and Germany. The company, now located in Miami, also has launched a 100 percent-compostable Keurig alternative, called Glorybrew, with Fair Trade-certified coffee to end the negative environmental impact of the billions of coffee pods ending up in landfills.

Though research and development on the compostible product took about two years, it’s paid off. Sales quickly climbed into the millions and the business is profitable.

 “I saw an opportunity and I went for it,” he said.

Buelhoff, who moved from Germany last year, thinks of himself as an entrepreneur first and foremost — he has also co-founded companies in gaming and other e-commerce and food ventures. But with Gourmesso, he is also a social entrepreneur, because his company has an environmental return as well as the financial bottom line.

His and other social enterprises present solutions to challenges such as global warming, healthcare and poverty. It’s also a growing trend in South Florida’s startup scene, with new programs designed to fund, nurture and grow companies that can improve life here.

But not all see themselves as social entrepreneurs, even when they are, says Rebecca Fishman Lipsey, whose organization, Radical Partners, has been running social entrepreneurship bootcamps in Miami for three years. The bootcamp itself is already showing a social return because 75 percent of the bootcamp organizations have significantly expanded services or scaled their social ventures to other cities.

“The whole genre has expanded in people’s consciousness,” Lipsey said. “I would love to make a magnet out of Miami, where great people who want to solve social impact issues want to be here doing that work, and people who want to fund work like that would look to Miami and wonder what social innovations we are cooking up.”

If it seems like social entrepreneurship is the flavor of the year, you’re right. Gustavo Grande has seen more and more social entrepreneurship ventures come through the Miami Dade College’s Idea Center, where he is programs manager.

“We already have a lot of students with ideas in social entrepreneurship, but we want to give them the structure to develop sustainable social ventures and collaborate with different partners in the community to accelerate that,” Grande said.

[RELATED STORY: Four ways Miami startups are trying to save the planet]

It’s a movement that gets a significant boost from the burgeoning millennial generation but encompasses all ages and ethnicities. In South Florida, a growing percentage of participants in high schools and university entrepreneurship programs are focusing on social enterprises — about half, according to Grande — and a community of serial entrepreneurs and investors is forming to help them.

Some notable social enterprises in South Florida include Rising Tide Car Wash, now in two Broward locations, which employs people on the Autism spectrum; Mela Artisans, a seller of luxury lifestyle products handmade by artisans in emerging markets; and FIGS, which sells antimicrobial, breathable and fashionable scrubs and has donated more than 75,000 sets of scrubs in emerging markets. EcoTech Visions focuses on incubating green manufacturing businesses, while the Urban.Us fund invests in tech companies with solutions that help cities.

But across the region, there are now also scores of startups in development that are focused on the environment (read related story), employment, alleviating poverty and improving access to education.

It’s a global movement. An estimated 11 percent of adults in the United States between 18 and 64 are attempting to start or are operating in a social enterprise, according to a Global Entrepreneurship Monitor study about social entrepreneurship by Babson College and other partners in 2016. That’s up from about 7 percent in its 2010 report. Social ventures are led by women 45 percent of the time, according to the study — far more than in commercial ventures.

Despite their noble goals, more than three-quarters of social enterprises fail before their fourth birthday, according to a Failure Institute study. Among key reasons, according to studies: the unequal access to financial, mentoring and educational resources and opportunities.

“The world will be a better place if we can determine the most appropriate ways to support social entrepreneurs and scale up their solutions,” said one of the GEM report’s authors, Siri Terjesen.

That’s where new resources come in. A few recent developments in South Florida:

READ THE FULL STORY HERE.

 

 

Global Entrepreneurship Week kicks off Friday with Startup Weekend West Palm Beach; $50K up for grabs in VentureTech Showcase next week

 

Palm Beach County has organized its entrepreneurial community for Global Entrepreneurship Week, an international event taking place from November 10 – 18.

The week’s activities commence on November 10, when Palm Beach Tech hosts Startup Weekend West Palm Beach, powered by TechStars and Google for Entrepreneurs. The 54-hour experiential and educational event is designed for aspiring entrepreneurs to learn how to create a company with the support of mentors. The companies will then pitch their ideas in front of a panel of top-notch investors and industry leaders.

“Events like these help foster the growth of our innovation economy,” said Joseph R. Russo, Executive Director of the Palm Beach Tech Association.

Global Entrepreneurship Week participants are competing for the chance to win $50,000 in prize money at the 2017 Florida VentureTech Showcase, hosted by the Florida Venture Forum on November 16 at FAU Tech Runway^®. The showcase is a capital acceleration competition and business networking event with presentations by some of Florida’s most promising startups.

“Collaborative efforts like Global Entrepreneurship Week have a direct impact on our community and the entrepreneurs we serve,” said Rhys L. Williams, Managing Director of FAU Tech Runway. “Through broad support from Palm Beach County, as well as local leaders we are shaping a community of promising entrepreneurs and connecting them with the resources and capital they need to succeed.”

Junior Achievement is also participating through their Launch Lessons program, bringing local entrepreneurs to educate more than 2,000 high school students in Palm Beach County.

“Junior Achievement is excited to engage a diverse group of entrepreneurs sharing their launch lessons with young people in our community,” said Claudia Kirk Barto, President and CEO of Junior Achievement of the Palm Beaches and Treasure Coast.

On November 15, The Palm Beach Tech Pitch Competition is featuring eight local startups competing for $12,500 in business services, in partnership with the Florida Angel Nexus and Florida Venture Forum.

Community & coworking spaces like Social House, Flamingo House, Palm Beach Tech Space and Elizabeth Ave Station are all hosting free events to engage with their communities. Urban Youth Impact is hosting a Pitch Night on November 14 and Creative Mornings Palm Beach is taking place November 17.

Global Entrepreneur Week centers around innovation, collaboration and education. To learn more, visit: www.EWeekPB.com

- Submitted by Palm Beach Tech

 

Powerful, a fast-growing Miami food & beverage startup, attracts $4 million in funding

By Nancy Dahlberg / [email protected]

Powerful, a Miami-based food and beverage startup offering all-natural, high-protein products for active lifestyles, has been on a growth tear the past year, doubling the number of U.S. stores the product is sold in. Now the company has raised $4 million in funding as it expands into additional product categories.

The Series B funding was led by River Hollow Partners, a lower mid-market private equity firm focused on consumer and retail brands in the natural products space. The company has also secured ABL financing through a partnership with Gerber Finance, a leading asset-based lending financial company with headquarters in New York City.

Carlos Ramirez launched Powerful (then called Powerful Yogurt) in March 2013 after years as a marketing and strategy consultant for global companies. He helped launch or expand other food products around the world, including Greek yogurt, and wondered why no one was branding the product for athletes. Although it has since expanded its focus, Powerful was the first company to market dairy products to the needs of active men, said Ramirez, a Venezuelan native who received his MBA from the University of California Berkeley.

 “The idea of a dairy product designed with active men in mind was a very controversial concept to many. It completely disrupted the dairy category and put us in the spotlight, but most importantly, it proved very successful,” said Ramirez.

 But women were big buyers too, more than half of sales, and now Powerful is a multi-category active lifestyles brand for both genders. Its  products are in 10,000 U.S. stores -- up from 5,000 less than a year ago -- and they include Walmart, Target, Kroger, Stop n’ Shop and Shoprite, as well as Amazon and the company’s website. On its own website, powerful.co, Powerful offers a subscription where customers can create a custom recurring product bundle at a discounted price.

Powerful Yogurt, Powerful Drinks and Powerful Oatmeal are part of the lineup now, all of which are high in protein and made with natural ingredients, and there's more to come, including new product lines and international expansion, Ramirez said.  “The capital provided gives us the additional resources we will use to reach our ambitious goals as we continue to expand the product offerings and increase our footprint in the U.S. and beyond.”

In early 2018, Powerful plans to add a smoothie to its lineup, in a convenient on-the-go pouch format. Each all-natural smoothie will serve up 22 grams of protein in flavors like banana, mixed berry and vanilla.  

River Hollow is Powerful’s first institutional investment partner. The new funding will further support product development, manufacturing, and sales and marketing.

“We partnered with Powerful because it is uniquely poised for success,” said Charlie Baynes-Reid of River Hollow Partners, noting Powerful's seasoned management team and clear brand vision and mission. “You typically see new companies come in and try to create their own niche specialty, but what Powerful has done really makes a significant impact through disruption in an already successful category, and that is something l saw as very compelling as a private equity partner.”

Last December, Powerful's Ramirez was the fifth Miami food and beverage entrepreneur selected to join the global network of Endeavor, a nonprofit that selects, mentors and accelerates high-impact entrepreneurs. In an Endeavor Miami study in 2015, Endeavor found that food and beverage is one of five areas that could sizzle for entrepreneurial activity in South Florida because the ingredients are already here: a foodie culture, expertise, a talent base and educational opportunities, as well as a strong healthy and green trend to ride upon.

READ MORE ABOUT POWERFUL HERE.

Follow @ndahlberg on Twitter.