Investing in Miami: First Come the Startup Failures, Then Comes the Success

December 2, 2014

12:30 pm

Tech Cocktail is a Media Partner during Sime MIA 2014

“Our entrepreneurs are becoming more sophisticated about the process of raising capital,” Melissa Krinzman of Krillion Ventures said proudly to a full audience of South Florida’s industry leaders during Sime MIA. Krinzman was joined by a panel of experts that included Scout Ventures’ Bradley Harrison and Mark Kingdon of Quixotic Ventures.

The investment network in Miami is becoming stronger, and a lot has to do with the energy and willingness of local entrepreneurs to learn.

“Here in Miami we see the ‘sponge factor’ with all the founders we meet with. People are genuinely taking the feedback,” explained Harrison, who recently opened an office here in Miami, after New York City. “Every time I’m back here, it’s getting better and better.”

It’s a change of tone to hear a positive outlook for Miami’s investment infrastructure, where the panel agreed that Miami has a pretty established seed funding network, but when it comes to series A and B, there is a lot of room for improvement. There is a lot of money in Miami; it’s a matter of how to move all that capital from the more traditional industries into tech companies. And although the trend is starting to change, we must have patience.

“We need some failures, then we can talk about success stories,” said Kingdom, who recently moved from NYC and has already invested in two local startups. He added that failure is part of the learning curve not only as a startup, but for the rest of the community.

“Everyone [in the startup ecosystem] needs to understand that half of the companies will fail,” added Harrison. “You need time to get the experience, and that comes from doing it over and over again. That is what makes you good.”

 

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Camila has been heavily active in South Florida’s tech startup community, where she is a co-host of a local radio show called pFunkcast. Camila previously worked at Greenpeace International and the Organization of the Prohibition of Chemical Weapons (OPCW) in various communication roles. A proud Brazilian who spent most of he life in Peru, she is passionate about traveling and documentaries.

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