The article describes Miami's Tech Startup Culture and how our law firm is seeing increased venture capital and angel investor activity.

1. Posted on Thu, Apr. 14, 2011
Silicon Riviera: Miami's Fast-Rising Tech Startup Culture
/PRNewswire/ -- After suffering through the most devastating economy since the Great
Depression, Miami is sprinting ahead in attracting and cultivating a flourishing tech startup
community.
With the support of nonprofit organizations, academic institutions and private investors, local
startups are beginning to attract the attention of the nations' top venture capitalists. Long-
accustomed to searching for the next big startup in the Silicon Valley area of San Francisco,
these firms are now turning their sights to the glittering shores of Miami.
It was only one year ago, that such a scene was hard to imagine with Miami's unemployment rate
hovering at a frightening 12%. As circumstances often dictate, it was largely because of the
dismal economy that Miami's startup culture took flight.
Out of the ashes of unemployment and left with no other alternative, many of Miami's laid-off
workforce took the bold step to launch their own tech start ups. For these newly minted tech
entrepreneurs, the prospect of becoming the CEO of their own micro empire led to a dramatic
increase in the number of Miami startups.
This new trend has not gone unnoticed. According to Miami business attorney, Santiago A.
Cueto, legal counsel to a number of local startups, "the recent upswing in tech startups bodes
extremely well for attracting top-flight venture capital firms." Mr. Cueto adds that to meet this
growing demand, his firm now counsels and prepares startup clients to meet with the nation's
most sought after angel investors and tech financiers.
The support of organizations such as Incubate Miami, a technology incubator, have helped to
fuel growth in Miami's quick-rising tech startup scene. Local investors have also played a role.
The Miami Innovation Fund, a 15-member group of Miami angel investors, recently funded its
first venture, Concierge, a Miami startup that promises to turn the Smartphone industry on its
head with its groundbreaking voice information technology.
Also helping to establish Miami as a Silicon Riviera of sorts is the University of Miami's Launch
Pad, an entrepreneurship resource center and part of the White House's "StartUp America
Partnership." The newly launched partnership is designed to increase the development of
innovative high-growth firms.
If the current pace of activity is any indication, Miami is sure to join the ranks of other "startup"
cities (San Francisco, New York, Boston, and Seattle) and prove to be a rich breeding ground for
the nations' most promising tech startups.