Starting a Business? Move to One of These 6 Cities
Miami's sheer diversity and number of Latin American immigrants makes for fertile ground for startups and small businesses, but the city's growing entrepreneurial system isn't just within its historically multicultural residents.
Kauffman's forthcoming Index of Entrepreneurial Activity will show that Miami has one of the nation's highest levels of entrepreneurial activity per metropolitan area, according to Dane Stangler, its director of research and policy.According to 2007 census data, Hispanic-owned firms represented 60.5% of businesses in the Miami-Dade area, compared to 22.4% for the state as a whole. But while there were lots of startups, it isn't exactly known as place where innovators convene. Miami is at a "ripe moment" to build its startup and entrepreneurial community, says Matt Haggman, Miami program director at the Knight Foundation, which makes grants in the journalism and media space but also in the community engagement space. Citing venture capitalist Paul Graham's 2006 essay "How To Be Silicon Valley" where he says a city must have both rich people and nerds in order to be a hub for startups, Haggman says while Miami has plenty of rich people, it didn't have the "nerds" or innovators.
So it needed to start attracting them. "Three things attract nerds: you need good urban, dense city life. They don't want to be lost out in suburbia. You need a really strong university system to back it up and you need the cool factor,
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