2023 1H Insights Report
South Florida continues to shine as a global tech hub for innovation and entrepreneurship, driven by a diverse tech and startup community. Our report highlights the key trends that are contributing to this growth, including AI, healthtech, fintech, climate tech and diversity in venture capital.
Nationally, it’s been a challenging year for all. However, the South Florida ecosystem continues to show opportunity, ranking 6th in the nation for number of VC deals with $962 million invested in South Florida startups. While VC flows are becoming more cautious of their spending, we are anticipating that, by the end of year, the South Florida region will see an increase in the number of deals, albeit with smaller investments.
The world is changing and the South Florida tech ecosystem has been quick to adapt. Here are some highlights from 1H 2023:
- Startups based in the Greater Miami metro area snagged 53% of the state’s venture capital dollars and 59% of the deals.
- AI – the new kids on the block – attracted $118 million in VC dollars across 26 deals in the South Florida region.
- Healthtech, medical device, biotech/pharma and health/wellness services companies in South Florida attracted $114 million in VC dollars across 34 deals in 1H 2023, producing an average deal size of $3.7 million.
- Financial technology remained the most-active sector, securing $219 million with 23% of the venture capital dollars flowing to South Florida companies and 27% of the deals.
- 1H 2023’s top funding was Weston-based Digibee, with a $60.2 million Series B raise led by Goldman Sachs in June, bringing Digibee’s total funding to $90 million.
2022 Annual Insights Report
Despite a tumultuous year for funding across the nation, Florida and the Miami-Fort Lauderdale metro area saw a rise in investments. The latest edition of eMerge Insights, published in partnership with Knight Foundation and Florida International University, is an overview of the exponential growth and resiliency of our local tech ecosystem. Notable highlights include:
- $5.81 billion was invested in South Florida startups and later-stage companies in 2022. Compare that to $5.33 billion in 2021.
- 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.
- 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
The Second Issue
eMerge Americas unveiled its second eMerge Magazine issue with publishing partner, Havas House in Fall 2022. The Miami tech industry story goes beyond what facts and figures can tell. Notable highlights include:
- Capital For All: Diversity In Venture Capital
- Where Art Meets Tech: How Miami Innovators Disrupting The NFT Industry
- Insights on the Miami tech ecosystem’s growth, such as:
- South Florida startups pulled in $3.1 billion across 209 deals in the first half of 2022
- Startups based in the Greater Miami metro area snagged 79% of the state’s venture capital take in dollars and over 64% of the deals
- Miami’s bid as the #cryptocapital is gaining steam, with 21 crypto and blockchain deals totaling $732 million recorded in 1H-2022, following a strong Q4 in 2021
- And so much more…
The Premiere Issue
eMerge Americas launched its inaugural eMerge Magazine issue with publishing partner, Havas House during the eMerge Americas 2022 event. The Miami tech industry story goes beyond what facts and figures can tell. It’s a story about the entire innovation ecosystem — entrepreneurs, investors, academia, corporate and government leaders working together to achieve a common goal. A story where creativity and grit combine to elevate tech offerings. A story where fledgling businesses are given the support needed to thrive, scale and succeed.
eMerge Insights Magazine
The 1H 2021 Report
This latest edition of eMerge Insights, published in partnership with Knight Foundation and Florida International University, is an overview of the exponential growth and potential of our local tech ecosystem. Notable highlights are:
- $1.26 billion was invested in South Florida startups and later-stage companies across 106 deals
- The Miami-Ft. Lauderdale metro area ranked 13th in the U.S. for VC investments by dollar volume
- Startups based in the Greater Miami area snagged 73% of Florida’s venture capital take in dollars
- The Miami movement is bearing fruit, as two of the top 5 deals were new-to-Miami companies: Pipe, in the No. 1 spot with a $250 million raise, and CRM-focused Introhive, whose $100 million raise ranked third.
- Q2 showed considerable strength in the Miami-Fort Lauderdale area, with venture capital surging 171% over Q1. If the 1H momentum continues, South Florida will have a record year.
The 2020 Annual Insights Report
An in-depth analysis of the momentum within the South Florida tech ecosystem throughout 2020, a profile on Miami Mayor Francis Suarez has lured big tech to the city, notable founder stories, an update on the events industry, top deals and investment trends in Florida, Latin America. Notable highlights include:
- $2.27 billion invested in South Florida startups and late stage companies across 156 deals in 2020
- The Miami-Ft. Lauderdale metro area ranked 8th in the U.S. for dollar value of deals in all of 2020.
- Startups in the Greater Miami metro area snagged 73% of the state’s venture capital take in dollars and over 52% of the deals.
2020 Global Pandemic Special Report
Venture Activity & Investment Trends
COVID-19. Social unrest. A contentious election season. 2020 has been a stop, start year with pressures that have lurched us into an unpredictable climate beleaguered with challenges for entrepreneurs and investors. We took this as a rallying call – anchored in our mission to connect the dots within the tech ecosystem – that resulted in powerful and deeply introspective conversations with our corporate partners, startup founders, higher education institutions, and government officials – because, ultimately, we all must work cohesively to create a thriving tech and entrepreneurial hub that is greater than the sum of our parts.
As 2020 proved, no one can say for sure what 2021 will bring. Yet, this special report draws on the Pitchbook data from the first half of 2020 to set an optimistic stage for what’s to come.
eMerge Insights: 2019 Annual Report
Venture Activity and Investment Trends
2019 was a record breaking year: $2.39 billion was invested in South Florida startups. The Miami-Ft. Lauderdale metro area ranked seventh in the U.S. for dollar value of deals, besting Austin, Chicago and Washington D.C. Additionally, venture capital in Latin America roared to record levels which produced over a dozen new unicorns in the region. As a community, we are now facing a new set of challenges to recover from the impact of the COVID-19 global pandemic.
eMerge Insights: 2019 Mid-Year Report
South Florida Venture Activity and Investment Trends
It is shaping up to be a very good year for the Greater Miami ecosystem. In this report, you will read about some incredible venture capital investments in South Florida companies during the first half of 2019. If trends hold, it could be the year that shatters the record books. But behind this news is a number of developments worth celebrating.
eMerge Insights: 2018 Annual Report
South Florida Venture Activity and Investment Trends
The numbers are in: South Florida-based startups had a very good year attracting venture capital in 2018. We believe Miami is on the cusp of something transformative – and the data and trends backs this up. In order to better measure our ecosystem’s evolution and impact, we partnered with former Miami Herald Business Editor Nancy Dahlberg, Florida International University, and the John S. and James L. Knight Foundation to track and tell the story of Miami’s transformation.
The Rise of Miami: The Tech Hub of the Americas
The Building of An Ecosystem, Uniquely Miami
Tracing Miami’s transformation into a global innovation hub from 1973 – 2019.