Since the time of the Silk Road – a cultural and commercial link between East and West in which Valencia participated – trade routes have played a transformative role in connecting regions and circulating innovative ideas and diverse products. The concept of trade routes is still relevant today, particularly in the context of the Valencia-Miami-Latin America axis. This business bridge connects Europe, the United States, and Latin America, providing a vital link for startups and investors.

 

Valencia and Miami: two hubs with a lot in common

More than 7,000 kilometres separate the cities of Valencia and Miami. However, when analysing their entrepreneurial ecosystems, they share a lot in common.

Both cities have successfully challenged the status quo by concentrating startups and talent in their respective hubs. While Valencia has established itself as one of the leading destinations in Europe, Miami has emerged as a major counterweight to Silicon Valley in recent years.

Many entrepreneurs and companies have been drawn to Valencia and Miami due to the cities’ reputation for providing a better quality of life. Companies such as Siemens, HP, Hitachi, and Toshiba have established a presence in Valencia, while Blockchain.com, LeverX, Novo, and OpenStore have done the same in Miami.

“We are excited to announce that we are moving our headquarters to Miami”, LeverX recently made public on LinkedIn, citing the city’s appeal as a “growing, diverse, welcoming, popular, and internationally talented community”. “We are thrilled to be part of Miami’s innovation ecosystem,” stated the company’s CEO. Similar sentiments are shared by Helloprint, a startup that has relocated to Valencia. CEO Hans Scheffer told Startup Valencia that  “we are here to give more than we receive”.

Miami’s favourable tax conditions for both venture capital and startups are also worth noting, the result of a strong entrepreneurial culture deeply rooted in American society. Meanwhile, Spain has taken a step towards improving conditions with the introduction of the Startup Act, which provides a regulatory framework to support growth.

 

Valencia-Miami: Europe-US link for startups, with extension to Latin America

“The future of startups lies in the decentralisation of ecosystems. Wealth and knowledge will not be concentrated, but open and shared. There will be no capital, only networks”, predicted Laura González-Estefani, CEO of TheVentureCity, in an opinion piece in TechCrunch.

This decentralisation has led to the emergence of hubs that are large enough to be close to multinationals and venture capital, but still retain a fresh and disruptive entrepreneurial spirit. Both Miami and Valencia are examples of such hubs.

In the case of the Floridian city, it has long maintained strong ties with Latin America. This cultural symbiosis has also translated into business opportunities due to the political instability in many countries in the southern half of the continent, as Rubén Colomer, Investment Manager, and Diego Moya, Chief of Growth at ClimateTrade and Co-Founder of Startup Valencia, pointed out at the recent 4YFN conference.

They both recalled that many of Latin America’s wealthiest individuals have historically invested their capital in Florida, and that there has been an increase in the number of Latin American companies and entrepreneurs settling in Miami, which serves as a gateway to the United States and, through Valencia, to Europe.

Miami’s mayor, Francis X. Suarez, has played a key role in positioning the city as a leading tech destination with its own unique strategy and roadmap. He notes that “beyond the cultural and linguistic links shared by both cities due to their ties to Spain and Latin America, they are shifting attention away from major metropolises and gaining popularity as tech hubs”. 

For this reason, there are already several initiatives that strengthen the Valencia – Miami link in the tech field:

Initiatives and missions such as these have already led to the creation of several startups with a presence in both cities. These companies serve as the foundation for the business bridge and act as ambassadors and connectors for future businesses. Some of the international companies based in Valencia and Miami include:

  • ClimateTrade: The pioneering startup in tech solutions to help companies fight climate change announced in 2022 that it was also settling in Miami and Seoul, adding more than fifty people to its team. This move strengthens the connection between Valencia’s startup ecosystem and the Americas, while also providing a gateway to the Asian market.
  • Fresh People: The startup providing efficient HR management to rapidly growing organisations to help create agile, functional and scalable cultures, announced last year the opening of offices in Miami and the start of a strategic partnership with Endeavor Miami.

For an in-depth look at Miami’s tech ecosystem, have a look at this report from the Knight Foundation.

If we broaden the focus beyond startups, we can also see small and medium-sized enterprises (SMEs) that have a presence in both hubs:

  • Raminatrans: The logistics and transportation group that serves over three thousand clients from various industrial sectors has established itself in both Miami and Valencia.

In just a couple of years, the collaborative efforts of both cities and their respective authorities and business organisations have resulted in the creation of an international pathway through which talent, investment, and growth can flow freely. Ultimately, this value creation leads to greater opportunities for our ecosystem.

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