Miami, founded in 1896 and located in the southern part of Florida, boasts notable economic dynamism, cultural diversity, and an attractive climate. Nicknamed the “Magic City” due to its rapid growth in the early 20th century, this metropolis is home to over 6 million residents. Miami’s economic foundations rest on traditional sectors such as construction, real estate, tourism, and import-export, along with strategic pillars like the Brickell financial district and Port Miami. Miami International Airport (MIA) is also a key asset for the city’s global connectivity, allowing it to link the local economy with international markets. In October 2023, the Department of Commerce (DOC) officially designated South Florida as one of the 31 tech hubs in the United States. With over 110 data centers, including the Network Access Point of the Americas located in Miami, the region positions itself as a major player on the American tech scene. Beyond its economic success, Miami stands out for its cultural richness. The Art Deco Historic District, showcasing iconic architecture, adds a historical dimension to the city’s modern aesthetic, while the beaches and vibrant neighborhoods, such as Little Havana, attract thousands of visitors and vacationers each year.

Florida is recognized for its favorable tax code, which lacks income and wealth taxes, and a corporate tax capped at 5.5% on net profits, creating a conducive environment for financial activities and investment. More specifically, due to its geographical location, Miami serves as a strategic convergence point between European and South American markets. In 2023, Forbes magazine ranked Miami second in its list of emerging tech ecosystems in the United States. The city hosts companies in aerospace such as Airbus, Boeing, Collins aerospace, Pratt & Whitney, and STS aviation, in logistics like UPS, and in tech such as Microsoft, Kayesa (cybersecurity), Novo (fintech), Red 6 (defense), and OpenStore (e-commerce). Between 2017 and 2022, Miami-Dade County welcomed nearly 320 new tech companies and about 17,000 jobs in the tech sector, solidifying Miami’s position as the leading city in the United States for job growth in this sector. In 2022, more than $5.5 billion in venture capital was raised by Miami’s tech ecosystem despite a national downturn.

Miami is a dynamic center for scientific and technological innovation, where research ideas are quickly transformed into concrete applications. Regional universities such as the University of Miami, Florida International University (FIU), Florida Atlantic University, and Nova Southeastern University, play key roles in cutting-edge fields like medicine, engineering, marine sciences, and cybersecurity. FIU, the most diverse public university in the United States, is home to renowned research centers like the Wall of Wind and the Sea Level Solution Center, which study the impacts of hurricanes and sea-level rise, respectively. FIU’s Extreme Events Institute also contributes to the study of extreme weather events. Partnerships with tech companies like Kaseya enable local universities to train the future workforce in the new technologies sector. These universities also support entrepreneurship, with incubators like Global Ventures and StartUP FIU, fostering local innovation. Public institutions like the Harbor Branch Oceanographic Institute and the Guy Harvey Oceanographic Research Center are dedicated to marine research and conservation, and several collaborations in the cleantech sector and coastal resilience enhance Miami’s position as a leader in new environmental technologies. These combined initiatives make the region an increasingly influential scientific and technological hub.

Miami is committed to supporting businesses through favorable policies. The public program Miami Dade Relocation and Expansion Incentive, mobilizes resources to attract and retain businesses in the area, while Venture Miami, an entity dedicated to economic development, has been supporting startups since January 2022. Throughout the year, Miami is vibrant with various events focused on innovation; during Tech Month in April, the city hosts the EMerge Americas conference, bringing together over 50 countries.
From 2018 to 2022, venture capital investments in South Florida increased by 48%, outpacing comparable national cities, and it is in this context that Miami saw the emergence of 6 unicorns in 2023. Miami is home to several international investment funds such as SoftBank, FoundersFund, and ATOMIC as well as local investment funds like Florida Funders, Flamingo Capital, and Seven Seven Six. In terms of structure, private incubators like Venture Hive Miami, and public, free incubators like Strive305, provide support for regional startups. Miami’s ecosystem also includes entrepreneur associations such as Endeavor Miami and Refresh Miami, which now has over 15,500 members.