2022 Annual Insights Report
We are delighted to present our latest Insights report reflecting the thriving South Florida tech ecosystem. Through research and data analysis, the eMerge Americas team, with the help of our eMerge Insights editor Nancy Dahlberg, are dedicated to providing you with an in-depth analysis of the state of the ecosystem. South Florida has emerged as a global tech hub for innovation and entrepreneurship in recent years, driven by a diverse tech and startup community. Our report highlights the key trends that are contributing to this growth, including healthcare, fintech, and diversity in venture capital.
Here are some of the key trends and data from the 2022 Annual Venture Capital Report:
- Miami area companies pulled in $5.81 billion — that was up from $5.33B in 2021, a year that nearly tripled the intake of 2020. Florida as a whole also saw a record year for dollars and deals.
- For 2022, the Miami metro ranks 7th in the nation, and the state of Florida tied for sixth.
- In 2022, fundraising by VC firms was also a bright spot for South Florida, hitting $5.07 billion, up from $497 million in 2021, according to Pitchbook.
- Riding the Miami momentum, the Miami-Fort Lauderdale area rose higher in 2022, while US venture capital fell by more than 30%.
- Startups based in the Greater Miami metro area snagged 71% of the state’s venture capital take in dollars and over 61% of the VC deals.
- Financial technology took over as the most active sector in 2021 and stayed atop in 2022, securing 41% of the venture capital dollars flowing to South Florida companies.
- Healthtech companies snagged 19% of deals, well ahead of the 2021 pace. Yet, with no mega-rounds in the pack, the dollar value of deals fell back in 2022, with $591 million flowing into healthcare-related companies.
- Crypto, blockchain and web3 deals totaled a record $859 million in 2022, following a strong Q4 in 2021. This comes despite the sector at large experiencing a crypto winter.
- $639M of venture capital received by Miami-Fort Lauderdale companies with at least one female founder in 2022. $986M of venture capital received by companies statewide with at least one female founder.
- Nationally, Black entrepreneurs received less than 2% of all VC dollars while companies led by Black women received less than 1%, according to Crunchbase data. While overall VC funding dropped by nearly a third in 2022, financing for Black businesses saw a plunge of 45%, the largest year-over-year decrease Black entrepreneurs have seen over the past decade.
