Miami Is Heating Up With Startups. But Who They Are May Surprise You.

By Nancy Dahlberg
The Miami Herald

WWR Article Summary (tl;dr) Entrepreneurship is NOT just for millennials. In Miami, the people most likely to start or run a new business are between 35-54 years old and make more than $100,000 a year.

The Miami Herald

If it seems like everyone you meet is an entrepreneur these days, there’s a reason for that.

Miami has one of the highest rates of new entrepreneurial activity in the country, nearly twice the national average, according to a 2016 Global Entrepreneurship Monitor report released Monday by Babson College.

While 12.6 percent of Americans were starting or running new businesses during the past two years, 22 percent in Miami were, according to the GEM report, which for the first time included a city-level analysis of entrepreneurship in Boston, Miami and Detroit to provide a window into how entrepreneurship thrives locally.

“It’s important to identify and monitor a city’s needs and monitor progress relative to entrepreneurship, whether that means, for example, supporting women or youth entrepreneurs or assisting ventures that introduce innovations or create jobs,” said Donna Kelley, a Babson College professor and co-author of the report.

In South Florida, like other areas of the country, organizations and universities have been focused on accelerating entrepreneurship with new programs, mentorship, pitch opportunities and co-working spaces. Even Babson itself has launched an accelerator for women and graduate programs in Miami recently.

The American Dream is alive and well, according to the study. Nationally during the past two years, more than 25 million Americans were starting or running new businesses in the United States. More than half of Americans see good opportunities around them for starting a business, 57 percent vs 41 percent globally, and it’s a sharp rise from the depths of the recession in 2009, in which just 28 percent saw good opportunities.

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