Miami’s Booming Tech and Innovation Scene: Key Developments from UM, HTwenty, and More

1. UM Makes $30M Investment in Computational Biology

The University of Miami (UM) has announced a substantial $30 million investment aimed at bolstering research and innovation in the realms of neuroscience and aging. Over the next five years, this financial commitment will foster the establishment of a new program in computational biology within the Leonard M. Miller School of Medicine. The initiative seeks to facilitate collaborations amongst various university departments and institutes, including the Department of Psychology and the Frost Institute for Data Science and Computing.

Joe Echevarria, UM’s CEO and acting president, has described this investment as a pivotal step towards aligning the university’s mission of delivering first-rate education, research, and healthcare services. Echevarria emphasized how this strategic investment will ultimately enhance benefits for a broader community—patients, students, and local residents alike.

2. Miami’s HTwenty Capital Makes LatAm Investment

Miami-based HTwenty Capital has made waves in the venture capital landscape with a recent investment in Colombia’s fintech startup, Akua. Participating in a $4.3 million seed round led by Propel, HTwenty’s involvement will assist Akua in expanding its operations into key Latin American markets, including Mexico, Peru, Chile, and Brazil.

Akua aims to modernize payment processing in Latin America, a region historically plagued by antiquated technology leading to inefficiencies and high fraud rates. With partnerships already established with major players like Mastercard and Visa, Akua is well-positioned to tap into a market that reportedly loses 20% of its total e-commerce revenue to fraud.

3. Drone Racing League Plans Miami Event with US Air Force

In an exciting development for tech and sports enthusiasts, the Drone Racing League (DRL) has partnered with the United States Air Force to host the inaugural DRL U.S. Air Force Miami Invitational. Scheduled for February 1, 2025, this event will transform loanDepot park into an electrifying arena where top drone pilots navigate high-speed drones through a dynamic aerial course.

This collaboration aims to engage young tech talents, highlighting the diverse opportunities within STEM fields offered by the U.S. Air Force. With heart-pounding races set to exceed speeds of 90 mph, spectators will witness an extraordinary blend of technology and sportsmanship.

4. ShiftPixy to Acquire AI Company TurboScale

ShiftPixy, a Miami-based staffing enterprise specializing in the Gig Economy, has signaled its commitment to innovation by entering into a non-binding Letter of Intent to acquire TurboScale, an AI technology company. Valued at $150 million, this strategic move enhances ShiftPixy’s platform capabilities and positions the company to leverage cutting-edge AI solutions in workforce management.

The deal is structured as an even split between stock and debt, pending the successful negotiation of definitive agreements and requisite approvals. This acquisition is a testament to ShiftPixy’s dedication to enhancing their service offerings and adapting to emerging technology trends.

5. Medbridge Acquires Miami-based Rehab Boost

Seattle-based Medbridge has made a significant stride in health technology by acquiring Miami’s Rehab Boost, known for its advances in motion capture and AI technologies. This acquisition revitalizes Rehab Boost under the name Medbridge Motion Capture and aligns it with Medbridge’s ongoing mission to enhance patient care through technology.

With industry-leading talent from Rehab Boost joining Medbridge, including founder Paul Jaure as Head of AI, the integration of advanced motion capture technology into Medbridge’s services is poised to improve patient outcomes through personalized care strategies.

6. Levan Center Accepting Applications for Cybersecurity Training for Veterans

Focusing on serving veterans, the Alan B. Levan | NSU Broward Center of Innovation has launched specialized Cybersecurity Training Programs in collaboration with Maverc Technologies. Offered at no cost to participants, this initiative aims to enhance the cybersecurity skillsets of veterans, equipping them for the digital workforce.

The program comprises two training tracks: Governance, Risk, and Compliance (GRC) and Security Operations Center (SOC) 101. By utilizing the center’s state-of-the-art Cyber Range, veterans will gain hands-on experience and mentorship opportunities essential for transitioning into cybersecurity roles.

7. New Blockchain and Web3 Conference Coming in January

The Miami tech scene is bracing for the WAGMI Miami conference, set to take place from January 21-24, 2024. Organized in partnership with Cointelegraph, this new event is anticipated to draw up to 10,000 attendees. Featuring a lineup of high-profile speakers from the blockchain and cryptocurrency sectors, including Blockchain.com CEO Peter Smith and Miami Mayor Francis Suarez, this conference aims to explore the future of digital currencies and blockchain technologies.

General admission tickets are priced at $750 per person, reflecting the conference’s ambitious scale and industry relevance.

8. Opportunities for Founders and Entrepreneurs

The eMerge Global Startup Accelerator + Showcase is currently inviting applications from founders eager to take their ventures to new heights. This initiative provides startups with invaluable resources, mentorship, and networking opportunities essential for growth. Applicants are encouraged to submit their applications by December 31.

In parallel, the SMB Growth Lab is open for Miami-Dade County businesses aiming to harness cutting-edge digital tools and training, enhancing their competitive edge within the tech ecosystem. Additionally, various programs, such as the Tech Talent Fest and Florida Venture Forum, offer avenues for job seekers and startups to engage with industry leaders and attract funding.

In the vibrant ecosystem of Miami’s tech and innovation landscape, these developments reflect a forward momentum that promises to shape the future of the region and beyond.