Published On: Fri, Oct 30th, 2020

South Florida Still Tech Startup Hub Despite COVID Pandemic

Startup hubs are often associated with cities like San Francisco, New York, Los Angeles, and even Austin, Texas. However, more tech startup founders are looking south. South Florida to be exact. From Miami to Boca Raton, South Florida is attracting more tech startups, despite the COVID pandemic.

South Florida as a tech startup hub was something quite popular a few years back. But with COVID and the economic uncertainty the pandemic has ushered in, news of the area’s startup boom has taken a backseat.

Don’t be fooled, South Florida is still a top startup founder destination. From developing innovative applications via container registries to building the next generation of technology for ecommerce, tech entrepreneurs are soaking up Florida sun, and top tech talent.

Tech Startups Reel-In Business Benefits In South Florida

Beaches and sunshine are not the only benefits for tech startup founders. There are programs like the South Florida program from the Founder Institute, that supports startup founders and budding entrepreneurs. This can be a big time leg-up in competitive tech-minded business spaces.

Here are a few other tech startup benefits in South Florida:

  • South Florida is generally cheaper to live when compared to other tech startup hubs like San Francisco, New York, and Los Angeles.
  • There is no state income tax in Florida, attracting more tech employees.
  • Small businesses are easier to set up in South Florida than in other states.
  • There is no shortage of potential tech startup investors.
  • South Florida has a very diverse culture, helping startup founders come up with new innovative ideas.
  • It is easier to attract top tech talent to the area, since the personal and professional scenes are vibrant.
  • There are a ton of local educational institutions that promote entrepreneurship, like Florida Atlantic University and the University of Miami. South Florida is also home to many annual startup pitch events.

Tech Startup Market Testing Made Easy

Having no market need is the top reason why startups fail. Luckily, South Florida is home to as many demographics as you need as a tech startup founder. From millennials to baby boomers, South Florida is a viable location for market testing.

This has become a staple for entrepreneurs that set up shop in the area. Bang Energy, an energy drink company is a good example of market testing in South Florida. Headquartered in Weston, Florida, this startup took energy drink technology to the next level.

And they had a large market to test products, marketing, and consumer satisfaction. Maybe not your traditional tech startup, but the technology that went into creating the energy drink and the innovative tools behind the once startup has gone national.

There Is No Shortage Of Inspiration For Startup Founders And Entrepreneurs

Finding a network of like-minded entrepreneurs is easy in South Florida. Since the area is home to so many innovative startups, events are happening almost daily. There are entrepreneur meet-ups and startup focused events, making networking simple.

Armed with LInkedIn, entrepreneurs in South Florida can connect and make new things happen. Mentorship is also a big factor for tech startup founders, and there is no shortage of potential mentors in the area.

This is especially valuable for millennials. Earlier this year a report announced Florida to be among the top five states for millennial millionaires. Five percent of millennial millionaires live in Florida.

Over 40 percent of millennial millionaires live in California, but the scales are shifting toward the sunshine state. This is due to the tax benefits, and of course the beaches and nightlife. If you’re a millennial looking for a mentor network, South Florida is ripe for the picking.

Ready To Make Your Tech Startup Footprint In The South Florida Sand?

There is certainly no shortage of benefits for tech startup founders in South Florida. This is why the area’s startup scene continues to grow at unprecedented rates, despite the COVID pandemic. From a top candidate pool and tax exemptions to sunshine and comparably cheap living, South Florida is still a tech startup hub. 

There are, however, some factors to consider before making your footprint in the sand. Be sure to know your market, because there are a ton of potential markets to tap into in South Florida. 

Having a strong knowledge of where to set up shop can also be important. Boca Raton, for example, can serve up cost-effective office space. But there are areas of the city that are far more expensive than other parts. Do your due diligence.

Ready to plant your startup flag in South Florida? You’ll find the sunshine state ready to welcome your business with open arms.

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