{"id":10200,"date":"2013-09-16T18:00:13","date_gmt":"2013-09-16T22:00:13","guid":{"rendered":"http:\/\/blog.carecloud.com\/?p=10200"},"modified":"2025-06-27T08:55:00","modified_gmt":"2025-06-27T08:55:00","slug":"moving-beyond-the-next-silicon-valley-miamis-promise-as-future-hub-for-health-tech","status":"publish","type":"post","link":"https:\/\/carecloud.com\/continuum\/moving-beyond-the-next-silicon-valley-miamis-promise-as-future-hub-for-health-tech\/","title":{"rendered":"Moving Beyond the \u2018Next\u2019 Silicon Valley: Miami\u2019s Promise as a Hub for Health Tech"},"content":{"rendered":"

Is (fill in the blank) the next Silicon Valley?<\/em><\/p>\n

This question is a perennial staple of business headlines and consulting reports.\u00a0 If you don\u2019t believe me, go to Google and type in \u201cnext Silicon Valley,\u201d then the name of a place you think is as different from Silicon Valley as, say, a baby owl<\/a> is from a great white shark.<\/p>\n

St. Louis?\u00a0 Check.\u00a0 Suburban Moscow<\/a>?\u00a0 Check.\u00a0 Saudi Arabia<\/a>?\u00a0 Accounted for.\u00a0 All of these places are spending time, money, and energy reaching for Silicon Valley\u2019s crown.<\/p>\n

Here\u2019s the problem: the world doesn\u2019t need a \u201cnext Silicon Valley.\u201d\u00a0 Last I checked, Silicon Valley wasn\u2019t going anywhere.\u00a0 Its decades-old wealth of entrepreneurs, venture capitalists, engineers, operating executives, and companies of every size are flourishing.\u00a0 Trying to deconstruct and reassemble a similar hub is as futile as training to become the next Steve Jobs simply by studying his biography.<\/p>\n

Building A Health Tech Hub<\/strong><\/h3>\n

Miami, CareCloud\u2019s hometown, is taking a different \u2013 and more thoughtful \u2013 approach to tech hub-dom, one that was on display last Thursday at the Miami HealthTech Showcase 2013.\u00a0 That difference?\u00a0 Creating a model for success that plays to Miami\u2019s unique strengths and aims at a specific (massive) target in dire need of innovation: healthcare.<\/p>\n

The Showcase was developed by ProjectLift<\/a>, a seed and access accelerator dedicated to health tech in greater Miami, with sponsorship from the Miami Innovation Center, U Innovation<\/a>, Miami Children\u2019s Hospital<\/a>, the Technology Foundation of the Americas<\/a>, and Lift1428<\/a>.\u00a0 Two panels highlighted key topics central to the growth of health tech in Miami, followed by a showcase of demos by six start-ups that are the first to \u201cgraduate\u201d from the accelerator program.<\/p>\n

CareCloud was honored to take part in the first panel, which focused on the importance of investing in the Miami HealthTech Hub, alongside executives from leading innovators at various stages in their growth \u2013 Kairos<\/a>, Cirle, and Nueterra<\/a>.\u00a0The panel was moderated by Sol Saad of\u00a0Ladenburg Thalmann<\/a>.<\/p>\n

We shared our funding story, highlighted by our June 2013 Series B round of $29 million<\/a>, and segued into a discussion of Miami\u2019s continued growth prospects.\u00a0 Along the way, we discovered some common ground that shed light on Miami\u2019s strengths:<\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Healthcare lives here.\u00a0 <\/strong>This point is easy to grasp when you\u2019re sitting in the middle of the nation\u2019s second-largest health district.\u00a0 Technology innovators need healthcare customers and partners \u2013 and there is no shortage of either in South Florida.\u00a0 Witness the important role that Miami Children\u2019s played in the evolution of both CareCloud and Kairos, for example.<\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Angels tolerate risk<\/strong>.\u00a0 We all felt that investors in Miami had been more supportive in our early days than their peers in other cities would have been.\u00a0 Case in point: CareCloud\u2019s founder and CEO, Albert Santalo, making the rounds during the economic doldrums of early 2009 with a bold vision and a PowerPoint in search of the initial funding to build our products.\u00a0 The result?\u00a0 A $2M round that was 50% oversubscribed, allowing him to get CareCloud ready for commercialization.<\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Doors are open<\/strong>.\u00a0 Miami\u2019s health tech community is big enough to attract national attention but small enough so that its participants don\u2019t feel lost in the shuffle.\u00a0 Interestingly, most of the panelists were relatively recent arrivals to Miami (including myself, having relocated from Boston a year ago) and this appealed to all of us.<\/p>\n

We were also asked what Miami could do better to grow as a healthcare hub.\u00a0 My take:<\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Line up operating expertise.<\/strong>\u00a0 Early-stage ventures tend to focus on fundraising and commercialization \u2013 areas where Miami has swiftly built infrastructure.\u00a0 As these companies grow, however, their needs will change.\u00a0 Incubation gives way to scaling, and then relentless execution, which is where \u201cbeen there, done that\u201d executives, employees, and advisors become critical.\u00a0 The availability of such individuals is one of the underappreciated virtues of the Valley and has been a huge focus powering our recent growth at CareCloud.<\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Engage one of Miami\u2019s most powerful assets \u2013 its alumni.<\/strong>\u00a0 Since I joined CareCloud, I\u2019ve been amazed at the number of times I\u2019ve sat down for a meeting or dialed into a conference call with a leading company in the Valley or Boston \u2026 and found a former Miamian on the other side.\u00a0 Often, they are surprised to learn that health tech has taken root here. In the rush to fulfill our \u201cgateway to Latin America\u201d potential, let\u2019s not overlook the remarkable alumni network already in place Stateside.\u00a0 Bring these people back!\u00a0 Or, engage them as mentors and partners who are already vested in our success.<\/p>\n

No Need to Reach the Silicon Beach<\/strong><\/h3>\n

Yes, Miami has a unique energy, a multicultural outlook, and of course, a lot of sunshine.\u00a0 That\u2019s what makes it a great place to live.\u00a0 But the best talent isn\u2019t thinking in terms of whether these ingredients could add up to the next Silicon Whatever.\u00a0 They are looking for specific opportunities to grow themselves and their careers, in an environment that will support their aspirations \u2013 today.\u00a0 Last week\u2019s diverse collection of participants at the Miami HealthTech Showcase demonstrated the extent to which a focus on fostering connections across the region and jump-starting the next generation of businesses in South Florida is paying off.<\/p>\n","protected":false},"excerpt":{"rendered":"

Is (fill in the blank) the next Silicon Valley? This question is a perennial staple of business headlines and consulting reports.\u00a0 If you don\u2019t believe me, go to Google and type in \u201cnext Silicon Valley,\u201d then the name of a place you think is as different from Silicon Valley as, say, a baby owl is […]<\/p>\n","protected":false},"author":1,"featured_media":32786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-10200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-growth"],"yoast_head":"\nMiami\u2019s Promise as Future Hub for Health Tech - Continuum<\/title>\n<meta name=\"description\" content=\"Here\u2019s the problem: the world doesn\u2019t need a \u201cnext Silicon Valley.\u201d Last I checked, Silicon Valley wasn\u2019t going anywhere. 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