{"id":10,"date":"2018-08-01T16:17:47","date_gmt":"2018-08-01T20:17:47","guid":{"rendered":"https:\/\/www.lee-associates.com\/miami\/?p=10"},"modified":"2022-10-19T12:02:06","modified_gmt":"2022-10-19T16:02:06","slug":"miami-takes-steps-to-become-a-truly-international-city","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/southflorida\/2018\/08\/01\/miami-takes-steps-to-become-a-truly-international-city\/","title":{"rendered":"Miami Takes Steps To Become A Truly International City"},"content":{"rendered":"<p>Johanna and\u00a0Juha Mikkola personify Miami\u2019s emerging economy: entrepreneurial, creative and shaped by cultures ranging from the Americas and the Caribbean, to Europe and Asia.<\/p>\n<p>In less than five years, the\u00a0Finnish\u00a0couple has scaled up their tech education business with a little help from some new friends. They\u2019ve completed a first capital raise \u2013 $1 million from Academic Work, a global\u00a0Swedish\u00a0staffing company with just a handful of U.S. partners.<\/p>\n<p>The Swedes chose Wyncode, the Mikkolas\u2019 company; they chose Miami. Millennials with a small child, the Mikkolas relocated from Toronto and left jobs in other sectors \u2013 corporate for her, retail for him \u2013 to live the good, beachy life and train computer coders in the artsy Wynwood neighborhood. They say cosmopolitan Toronto seems vanilla in comparison.<\/p>\n<p>After growing up in the European melting pot, they feel right at home in Miami. \u201cFor me, it\u2019s all I\u2019ve ever known,\u201d says Juha, who studied at the International School of Helsinki.<\/p>\n<h3>\u201cCultural diversity speaks to us, but it\u2019s a real thing here,\u201d Johanna adds. \u201cIt brings different ideas, forcing you to think about things in new ways.\u201d<\/h3>\n<p>Long considered the gateway to\u00a0Latin America, with a laser focus on tourism, hospitality, transportation and real estate development, Miami is working on broadening its global reach. Community leaders are reimagining the city as an idea generator for technology, education, banking, the arts, media and fashion. High-concept incubators are gaining on traditional brick-and-mortar operations.<\/p>\n<h3>\u201cIt is becoming a place where things are made, products and services are created, businesses are locating, and that has helped transition the narrative of who Miami is,\u201d says Steven Pedigo, an urbanist on the faculty of\u00a0New York University.<\/h3>\n<p>Pedigo is research director of the\u00a0<strong>Miami Urban Future Initiative<\/strong>\u00a0at\u00a0Florida International University, a think tank for quantifying the trends that are reshaping the city.<\/p>\n<p>One money-backed booster of Miami\u2019s cultural energy is Naeem Khan, the Indian-American fashion designer whose star rose when he dressed former first lady Michelle Obama for her premier state dinner in 2009.<\/p>\n<p>Based in Manhattan, Khan is moving his production to a sleekly modern complex on the Miami River that will also house a fashion design high school, scheduled to open in 2020. He\u2019s investing $30 million because, he says, \u201cMiami has incredible potential to become a very important part of the fashion world.\u201d<\/p>\n<p>Khan, a part-time Miami resident, will draw upon the city\u2019s homegrown wealth of Latin American artisans and channel the globalism \u2013 materials, expertise and consumers from everywhere \u2013 that he prizes in his business.<\/p>\n<h3>\u201cIt\u2019s a transient city, Miami. It has Art Basel for a week in December, but we need permanent jobs in order to create a vibrant and full circle of a city,\u201d Khan says. \u201cYou need manufacturing, and we felt that Miami could be perfect for that.\u201d He aims to add 70 to 100 jobs to the local economy.<\/h3>\n<p>Khan struck out on his own after apprenticing with the iconic designer Halston as a 19-year-old immigrant. He\u2019s at the top of the entrepreneurial heap, but he represents a universal wish.<\/p>\n<h3>\u201cWe have people who are looking to have the American dream, which isn\u2019t home ownership anymore, it\u2019s entrepreneurship,\u201d says Susan Amat, founder and chief executive of Venture Hive.<\/h3>\n<p>Her Miami-based company produces software and helps corporations, governments and educators enhance innovation.<\/p>\n<h3>\u201cWe have so many people here who want to be entrepreneurs, it\u2019s crazy, which is great because they can,\u201d she says.<\/h3>\n<p>Statistics show that Miami has the raw materials to support their efforts, especially internationally. Here are four key findings from a May 2018 Miami Urban Future Initiative research paper called \u201c<a href=\"https:\/\/www.creativeclass.com\/_wp\/wp-content\/uploads\/2018\/04\/Brief-4-FINAL-Benchmarking-Miamis-Globalization.pdf\">Benchmarking Miami\u2019s Globalization<\/a>\u201c:<\/p>\n<ul>\n<li>Miami is first among large U.S. metros in foreign-born population, with more than 40 percent.<\/li>\n<li>Many foreign-born residents are well-educated. More than 41 percent have a bachelor\u2019s degree, at least, and 39 percent have an advanced degree. That places Miami second only to San Jose in the Silicon Valley, and ahead of New York, Los Angeles and San Francisco.<\/li>\n<li>\u201cMiami is an export powerhouse.\u201d Exports for 2015 totaled $33.3 billion in goods and services, for a seventh ranking among large metros; it was first for international freight transport in 2016.<\/li>\n<li>Adjusted for population size, Miami International Airport ranks first for international passengers, with 437,921 in 2017.<\/li>\n<\/ul>\n<p>Other research shows that while business start-ups abound in Miami, they tend to hit a wall instead of growing and prospering. The Kauffman Foundation, a nonprofit that studies entrepreneurship and education, has ranked Miami No. 1 for\u00a0<a href=\"https:\/\/www.kauffman.org\/kauffman-index\/rankings?report=startup-activity&amp;indicator=se-rate&amp;type=metro\">start-up activity<\/a>\u00a0for a decade. However, the city ranks 36th out of 40 metro areas for scale-ups, or fast-growing companies, according to a 2017 study by the group.<\/p>\n<p>The takeaway: Miami companies are born at a rapid pace, but they fail to thrive.<\/p>\n<p>Five years ago that disparity drew the attention of the Knight Foundation. The legacy of brothers John S. and James L. Knight, publishers of the Miami Herald and other newspapers, the foundation is known as a strong supporter of Miami\u2019s cultural institutions.<\/p>\n<p>The foundation\u2019s leadership decided to spend six months measuring whatever was driving change in the city, Miami program director Raul Moas says. They learned \u201cMiami had a strong entrepreneurial undercurrent, but not everybody felt that Miami was the right place to launch a high-growth venture,\u201d he says. There were too few Miami-based Fortune 500 companies.<\/p>\n<p>They found that a lot of ambitious 20-, 30- and 40-year-olds want to grow in place and savor Miami\u2019s richly diverse lifestyle. And, there are many high-income individuals \u2013 some who sold successful businesses elsewhere and moved to Miami, others from the Brickell corridor in downtown Miami, U.S. headquarters of Latin American banking.<\/p>\n<p>The challenge was bringing those two groups together to bankroll progress. The foundation would commit $25 million to support Miami\u2019s \u201ccreatives, entrepreneurs and change agents,\u201d according to its\u00a0<a href=\"https:\/\/knightfoundation.org\/communities\/miami\/\">website<\/a>.<\/p>\n<p>The money was used for both micro and macro projects. It created co-working spaces for techies to collaborate on ventures and consumer goods; it seeded strategic approaches to funding and mentorship.<\/p>\n<p>Notably, the foundation helped convince\u00a0<strong>Endeavor Global<\/strong>\u00a0to launch its first U.S. venture in Miami. Over the past 20 years, this nonprofit chaired by Seagrams heir Edgar Bronfman Jr. has helped promising companies in emerging markets like\u00a0Argentina\u00a0ramp up rapidly through mentorship.<\/p>\n<p>The Endeavor board put a lot of thought and diagnostics into selecting Miami as an affiliate five years ago, founding managing director Laura Mayd\u00f3n says. \u201cEntrepreneurs said they liked Miami because of the quality of life, access to markets and geography. It was lacking access to mentors, capital and talent, and those are the three things Endeavor focuses on.\u201d<\/p>\n<p>The move seems to be paying off. Last year Endeavor Miami\u2019s 16 companies booked $130 million in revenue. They employed 1,600 people and raised $15 million in capital, according to the affiliate\u2019s October 2017\u00a0<a href=\"https:\/\/endeavormiami.org\/endeavor-miami-releases-2016-2017-impact-report\/\">annual impact report<\/a>. That\u2019s a 37 percent rise since 2014, the Miami Herald reports.<\/p>\n<p>Since then, six more Miami companies have joined the ranks, Mayd\u00f3n says. The Miami affiliate\u2019s success encouraged Endeavor to launch in other underserved U.S. markets: Detroit, Louisville, Atlanta and, most recently, Puerto Rico.<\/p>\n<p>Endeavor was the crucial catalyst for Wyncode\u2019s beneficial partnership with Academic Work, the Mikkolas say.<\/p>\n<h3>\u201cEndeavor was perfect because here we were, building a business together for the first time. We loved what we were doing, but we needed experience and expertise,\u201d Johanna says. \u201cIt was a source of vetted, trusted people who we could lean on.\u201d<\/h3>\n<p><em>Source:\u00a0\u00a0<\/em><em><a href=\"https:\/\/www.usnews.com\/news\/national-news\/articles\/2018-07-31\/booming-business-broadens-miamis-international-reach\">US News<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Johanna and\u00a0Juha Mikkola personify Miami\u2019s emerging economy: entrepreneurial, creative and shaped by cultures ranging from the Americas and the Caribbean, to Europe and Asia. In less than five years, the\u00a0Finnish\u00a0couple has scaled up their tech education business with a little help from some new friends. They\u2019ve completed a first capital raise \u2013 $1 million from Academic Work, a global\u00a0Swedish\u00a0staffing company with just a handful of U.S. partners. The Swedes chose Wyncode, the Mikkolas\u2019 company; they&#8230;<\/p>\n","protected":false},"author":3,"featured_media":18,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1088],"class_list":["post-10","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-team"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Miami Takes Steps To Become A Truly International City - Lee &amp; Associates South Florida<\/title>\n<meta name=\"description\" content=\"Miami is first among large U.S. metros in foreign-born population, with more than 40 percent.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/southflorida\/2018\/08\/01\/miami-takes-steps-to-become-a-truly-international-city\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Miami Takes Steps To Become A Truly International City\" \/>\n<meta property=\"og:description\" content=\"Miami is first among large U.S. metros in foreign-born population, with more than 40 percent.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lee-associates.com\/southflorida\/2018\/08\/01\/miami-takes-steps-to-become-a-truly-international-city\/\" \/>\n<meta property=\"og:site_name\" content=\"Lee &amp; 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