An Entrepreneurial Ecosystem on the Rise

MIami
Listen

How does an entrepreneurial ecosystem survive and thrive?

In Miami, the key is an entrepreneurial culture, strong supportive networks, and an attractive location.

This is according to the latest special report from the U.S. Global Entrepreneurship Monitor ecosystem project led by Babson College and eMerge Americas. Built from research conducted before the coronavirus outbreak, the report, An Ecosystem on the Rise: Entrepreneurship in Miami, reinforces where founders in the city should focus their efforts.

“Networks and entrepreneurial culture are two of the 10 categories considered critical in a thriving entrepreneurship ecosystem. Both categories are ranked by several of Miami’s most influential players as strong pillars in the South Florida ecosystem today, and the community should take advantage of them to navigate this current crisis and emerge even stronger,” said Gustavo Trindade MBA’17, director of Babson College Miami.

While strong in culture, networks, and location, Miami’s ecosystem still has room for improvement. The report details two areas of growth and opportunity: entrepreneurial finance, which ranks low relative to other categories; and retention—the region often loses highly qualified young people.

“Although a lot has changed since the COVID-19 outbreak, we have outlined four key recommendations to further improve the Miami entrepreneurial ecosystem that we believe will remain relevant post-COVID: (i) to continue developing the entrepreneurial finance community in the region, addressing any gaps in access to capital for underserved groups such as women and young people; (ii) to find more ways to retain highly educated young people; (iii) to promote impactful and inclusive entrepreneurship; and (iv) to encourage government to work with the private sector in supporting entrepreneurship,” said Donna Kelley, professor of entrepreneurship.

Keeping the Miami Ecosystem Thriving

“As a community, we’re now facing a new set of challenges to recover from the impact of the COVID-19 global pandemic,” said Melissa Medina, president of eMerge Americas. “We are proud to partner with Babson College to highlight the underlying strengths and exceptional talent within Miami’s diverse tech ecosystem that are critical to our economy.”

Panelists in a “Focus on Miami” session at the GEM annual meeting. From L to R: Gustavo Trindade MBA’17, Director of Babson College Miami; Melissa Medina, President, eMerge Americas; Mayor Francis X. Suarez; Raul Moas, Director, Knight Foundation; Aaron Hirschhorn, Founder / CEO at Gallant.

In a session at the GEM annual meeting in Miami this winter, several of the city’s leaders—including Medina and Mayor Francis Suarez—discussed ways to help the ecosystem thrive. The event was held before the coronavirus outbreak.

“We have to make sure we implement policies and procedures as a city that make opening and running a business easy and possible,” said Suarez during the session.

Support from government organizations, corporations, and universities like Babson, Medina says, has helped the city’s ecosystem grow. “The foundation is built, thanks to the support that we’ve had from the community, and the sky is the limit for South Florida. We are creating a new ecosystem and launch pad for ideas.”

Posted in Insights

More from Insights »

Latest Stories

Farrah Narkiewicz and Rob Major sit and talk at Trim Dining Hall
The Regular Crowd Shuffles In: Lunchtime at Trim  Trim Dining Hall may be a key part of everyday life for many Babson students, but a slew of faculty and staff members also make it part of their daily routine. At lunchtime, they file into the dining hall, seeking food and camaraderie.
By
John Crawford
Senior Journalist
John Crawford
A writer for Babson Thought & Action and the Babson Magazine, John Crawford has been telling the College’s entrepreneurial story for more than 15 years. Assignments for Babson have taken him from Rwanda to El Salvador, from the sweet-smelling factory of a Pennsylvania candy maker, to the stately Atlanta headquarters of an NFL owner, to the bustling office of a New York City fashion designer. Beyond his work for Babson, he has written articles and essays for The Philadelphia Inquirer, Notre Dame Magazine, The Good Men Project, and other publications. He can be found on Twitter, @crawfordwriter, where he tweets about climate change.
September 4, 2025

Posted in Community

Babson Study Reveals the Power of Customer Kindness New Babson-funded research shows that customer kindness can boost employee satisfaction, reduce turnover, and spark a cycle of positivity in service industries.
By
Hillary Chabot
Writer
Hillary Chabot
Hillary Chabot is a writer for Babson Thought & Action and Babson Magazine. An award-winning journalist, she is known for her insightful reporting and dedication to detailed storytelling. With a career spanning over two decades, she has covered a wide range of topics, from presidential campaigns and government policy to neighborhood issues and investigative series. As a reporter for The Boston Herald, Hillary earned a reputation for tenacity and integrity. Her work at Babson College fuels her passions—to learn something new every day and conduct thoughtful, empathic interviews. She’s thrilled to be at Babson College, where students, faculty, staff members and classes provide compelling copy daily.
September 3, 2025

Posted in Community, Insights

Three photos in a side-by-side collage depict Michael Kopelman coaching, Brady Anderson in action, and the doubles team celebrating
Courting Success: How Babson Tennis Teams Transformed into National Powerhouses With championships and top-tier recruiting classes, Babson Director of Tennis Michael Kopelman has overseen the transformation of the men’s and women’s programs into national powerhouses.
By
Scott Dietz
Writer
Scott Dietz
Scott Dietz is Babson College's Associate Athletic Director for Strategic Communications. Dietz is responsible for the department's internal and external communications, including branding, campus engagement, marketing, social media, sponsorships and website management. Additional duties consist of event coverage, facilitation of interview requests, media pitching, video content, writing and editing. Before Babson, Dietz spent 13-plus years at fellow NEWMAC institution Wheaton College, worked for the NFL, New England Patriots, and in the media relations department with the NBA's Cleveland Cavaliers. A native of South Park, PA, Dietz began his sports information career at Westminster College.
September 2, 2025

Posted in Community