Why Miami Is Generating Major Fintech Buzz
Real Estate and Technology attorney Shawn Amuial was quoted in a Law360 article about the recent buzz Miami is generating as a burgeoning technology hub. This article takes a look at some of the reasons Miami could flourish as a fintech hub. One factor that could lead to substantial growth is the existence of a relatively established startup scene in Southern Florida. Additionally, the area has plenty of draws for new arrivals, including sunshine, no state income tax and local academic institutions supplying engineering talent.
The influx of capital and entrepreneurs could provide a crucial accelerant to Miami's startup scene as well, according to Mr. Amuial. He said he can see Miami developing into the sort of startup scene that's present in Austin, Texas, or that's incubating in Nashville, Tennessee.
"We were missing for a long time a very strong network of tech startup entrepreneurs and the venture capitalists that invested in those startups," he said. "It would have taken a long time for South Florida to catch up without COVID-19, but because of COVID-19 those entire networks from Silicon Valley and to a certain extent from New York City as well just picked up and came here."