SoftBank Group International to Invest Aggressively in #MiamiTech Scene

Expanding the #MiamiTech Scene

Miami Mayor Francis Suarez’s recent push for the #MiamiTech Scene is growing. SoftBank Group International CEO Marcelo Claure on Thursday announced the creation of a $100 million initiative. The investments will be made strictly to Miami-based tech firms.

Suarez continues to make use of his status as Miami’s Promoter-in-Chief, turning to social media to announce the initiative. During #CafecitoTalk Claure and Suarez discussed the initiative. In the announcement, Claure said, "We came up with this idea last week, and [our team] is working hard to identify Miami-based companies [to fund]."

Lumu Technologies, a Doral-based cybersecurity firm, and QuickNode, a Sunny Isles-based firm providing infrastructure support to blockchain were the first 2 firms chosen. As per the qualifications, the businesses must be based in Miami or be relocating to the area.

Suarez said SoftBank's investment confirms the tech industry's migration to Miami is "very, very real." Several other executives and companies have announced relocations to the area. Especially since Suarez announced his #MiamiTech Scene initiatives and opened his door (or Twitter feed, more accurately) for relocating businesses to seek help.

More Support for Local or Relocating #MiamiTech Scene Businesses

Just as this $100 million commitment is designed to support venture-backed start-ups and late growth companies, so is Gazitua Letelier. If you’re interested in learning more about these types of initiatives or about the low taxes, business-friendly regulations, or lower cost of living compared to NY or Silicon Valley, contact us today to learn how Gazitua Letelier can help your business succeed in this #MiamiTech Scene.

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Luis is an experienced procurement lawyer and Miami lobbyist serving elected officials, businesses, international clients, and trade associations. He regularly appears before local and state government in order to advance complex objectives for clients against competing interests. He has weathered various competitive processes in Florida including Home Rule Charter Amendments, Recalls, Local, State and Federal campaigns.