Global Miami Sept-Oct 2024

GLOBAL MIAMI

SEPTEMBER / OCTOBER 2024

SHOKWORKS’ DIGITAL WORLD

SOUTH FLORIDA: GLOBAL MEDICAL HUB

Saif Ishoof, CEO of Lab22c

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VOL 2. ISSUE 4 FEATURES

Since the Mendelson family took it over in 1990, Heico has become an aerospace giant.

The story of Shokworks, a Miami-based tech consultancy and early-stage investor.

Miami’s trade and investment links with Central America’s textile king.

Is Saif Ishoof the most important link in the Miami tech ecosystem?

CONNECTOR IN CHIEF SPECIAL REPORT: GUATEMALA SOUTH FLORIDA: A GLOBAL MEDICAL HUB

A Little Bit of Luck and a Touch of Providence

There’s a line from the film, “North by Northwest,” the iconic Alfred Hitchcock movie with Cary Grant and Eve Marie Saint. Cary asks Eve’s character (who is a spy working for the CIA), “Just how did a woman like you get to be a woman like you?” In other words, “How did you wind up here – like this?”

Good question and apropos to Greater Miami and the South Florida market as it relates to the expansion of cutting-edge tech businesses that are transforming us from a tourism-driven economy to a global hub for innovation.

To be sure, there were several folks who contributed to this journey. Entrepreneur Manny Medina pioneered advance communications by building the NAP of the Americas in downtown Miami, followed by the launch of eMerge Americas, which helped establish Miami as the nexus for hemispheric tech startups. Of course, having Motorola in Broward County (where they invented the cell phone) and IBM in Palm Beach County (where they invented the personal computer) helped build a cadre of engineers in South Florida. But that was fading by the time Delian Asparouhov tweeted “what if we move silicon valley to miami?” followed by Miami Mayor Frances Suarez’s famous reply “how can we help?”

One of the ways he did help was by hiring our cover subject, Saif Ishoof, to co-create Venture Miami to facilitate the relocation of tech companies to Miami. Saif went on to form his own consultancy,

Lab22c, and has remained instrumental in forging the public-private partnerships that have advanced Miami’s emergence as a global tech hub.

Having said this, the true catalyst for our emergence (or the tipping point, in business anthropology) can be found in the confluence of two things: First, there was already a corporate migration from states such as New York, Connecticut, Illinois and California seeking a more business friendly environment (meaning fewer taxes and less regulation). Second, there was Covid. The virus that shut the country down also sparked a tsunami of further migration to South Florida. We attracted CEOs and other leaders of industry to take advantage of our healthy environment, pro-business government, incredible weather, global interconnectivity, and less expensive housing compared to the state they just left. (Ironically, the mass migration has caused one of the biggest cost run-ups in South Florida real estate history – but that for another time).

The truth is that none of this was planned. It happened. Serendipity with incredible results, most of them good, some not so good. But the bottom line is this: Miami and the South Florida region became better for it. A true national disaster combined with key moments of local leadership produced one of the most significant economic growth spurts in the history of South Florida.

RICHARD ROFFMAN

PUBLISHER

GLOBAL MIAMI MAGAZINE

PUBLISHER

Richard Roffman

EDITOR-IN-CHIEF

J.P. Faber

ASSOCIATE PUBLISHER

Gail Feldman

SENIOR VICE PRESIDENT INTERNATIONAL

Manny Mencia

DIRECTOR OF OPERATIONS

Monica Del Carpio-Raucci

SALES AND PARTNERSHIPS

Sherry Adams

Amy Donner

Andrew Kardonski

Gail Scott

DATA ANALYST / SENIOR EDITOR

Yousra Benkirane

WRITERS

Doreen Hemlock

Drew Limsky

Joe Mann

Oscar Musibay

Amy Poliakoff

Katelin Stecz

ART DIRECTOR

Jon Braeley

PHOTOGRAPHERS

Rodolfo Benitez

Jonathan Dann

PRODUCTION DIRECTORS

Toni Kirkland

Jorge G. Gavilondo

CIRCULATION & DISTRIBUTION CircIntel

BOARD OF ADVISORS

Ivan Barrios, World Trade Center Miami

Ralph Cutié, Miami International Airport

Gary Goldfarb, Interport

Bill Johnson, Strategic Economic Forum

Roberto Munoz, The Global Financial Group David Schwartz, FIBA

EDITORIAL BOARD

Alice Ancona, World Trade Center Miami

Greg Chin, Miami International Airport

Tiffany Comprés, Pierson Ferdinand Paul Griebel, Venture for America

James Kohnstamm, Miami-Dade County

John Price, Americas Market Intelligence TJ Villamil, eMerge Americas

Global Miami Magazine is published bi-monthly by Global Cities Media, LLC. 1200 Anastasia Ave., Suite 217, Coral Gables, FL 33134. Telephone: (305) 452-0501. Copyright 2024 by Global Cities Media. All rights reserved. Reproduction in whole or part of any text, photograph, or illustration without o\prior written permission from the publisher is strictly prohibited. Send address changes to subscriptions@ globalmiamimagazine.com. General mailbox email and letters to editor@globalmiamimagazine.com

Recent Transactions Affecting Global Trade and Investment

FIFA UPDATES

FIFA is expanding in Miami as it prepares for the 2026 World Cup, leasing an extra floor in its Coral Gables office tower. FIFA President Gianni Infantino (seen here with MDC President Madeline Pumariega) also announced his relocation to Miami, where he will stay throughout the tournament. Matches will be held in Miami and 15 other cities in the U.S., Mexico, and Canada. FIFA already has 100 staff in Coral Gables.

SWISS FIRM EXPANDS

Swiss asset manager GAM Holding AG is expanding in the U.S. by opening a second office in Miami’s financial district. The move responds to growing demand from U.S. offshore clients, particularly in Latin America. Director of Business Development Alejandro Moreno will relocate to lead the Miami office.

CRUISE UPDATES

Royal Caribbean Group’s Icon-class fleet is expanding. Alongside the 2025 debut of Star of the Seas (above), an unnamed ship is under construction, and up to three more are planned. The Miami-based cruise company has contracted Finnish shipbuilder Meyer Turku for the fleet. Icon-class ships are the largest in the world. Also, Norwegian Cruise Line has announced its 21st ship, the Norwegian Luna, set to debut in spring 2026 from PortMiami. The new vessel will accommodate 3,550 passengers. Currently under construction by Italian shipbuilder Fincantieri, the ship’s interior will be designed by Coral Gables-based Studio Dado, along with teams from Rockwell Group, Piero Lissoni, AD Associates, and SMC Design. The company’s current fleet includes 19 ships sailing

to 450 global destinations. Norwegian Cruise Line will also launch a seven-day Western Caribbean sailing from PortMiami aboard the Norwegian Escape. Running in 2026, the new itinerary includes stops in Cozumel and Costa Maya, Honduras, and Belize.

FLIGHT UPDATES

American Airlines will temporarily upgrade Miami-Cancun flights to Boeing 777-200ERs at the end of the year. Normally serviced by narrowbody planes, the switch to widebody aircraft will add over 10,000 seats to the popular route. American Airlines will also add daily service between Miami International Airport and Rome starting July 5, 2025 and extend its MIA-Paris flights through August 2025. Starting December 5, 2025 it will also launch daily non-stop flights between MIA and La Romana, Dominican Republic, MIA’s third-largest overseas market in 2023 with 1.5 million passengers. Meanwhile, Mexican airline Aeromexico is launching new daily nonstop flights between Cancun and Miami starting Dec 2024. Moreover, British Airways has announced plans to expand its flights from North America to London in Summer 2025, adding 28 weekly flights for a total of over 400. Miami will see seven additional flights per week, along with a new lounge at Miami International Airport in 2025.

NEW UNIVERSITY CAMPUS

The Palm Beach County Commission has approved negotiations with Vanderbilt University to establish a graduate campus in Downtown West Palm Beach. The $519.6 million, 300,000-sq-foot campus will focus on business, AI/computer sciences, and include an innovation hub connecting students and local businesses.

EPAM ACQUIRES NEORIS

EPAM Systems Inc, a leading digital transformation services company, has announced its agreement to acquire NEORIS, a Miami-based tech consultancy with over 4,700 professionals across

Latin America, Spain, and the U.S. The sellers are Advent International, a top global private equity investor, and Cemex, a Mexican-based global construction materials company.

FINTECH EXPANDS

Argentina-based fintech company Veritran is expanding its U.S. presence with a new North American headquarters in Miami’s Coral Gables suburb. Located at Alhambra Towers, the office will house over 50 employees. Veritran operates in 14 countries and has created 500 jobs globally.

PORTMIAMI UPGRADES

PortMiami has received a $19.5 million grant from the Resilient Florida Program to elevate the Berth 10 bulkhead, protecting its cargo yard, roadway, and electrical substation from sea level rise. The project includes shoreline replacement and stormwater improvements, helping the port avoid operational shutdowns during storms.

EQUITY FIRM RELOCATES

Los Angeles-based private equity firm CREO Capital Partners has relocated its headquarters to Miami’s Brickell Financial District. Specializing in buyouts in the food and consumer sectors, CREO has raised more than $1.5 billion since 2005. The move aligns with the influx of financial firms to Brickell, where Ken Griffin’s Citadel is also building its headquarters.

ZUM RAILS EXPANDS

Canadian payments software company Zum Rails has opened its U.S. headquarters in Coral Gables, with plans to expand to 100 employees. CEO Miles Schwartz will relocate. The office handles sales, engineering, risk, compliance, and customer success.

AI-POWERED REAL ESTATE

Miami-based World Property Data has acquired the real estate data startup PROPSIG and its project, Property Ontology. Set to

launch next year, PROPSIG is building a global platform focused on real-time property data, analytics, and financial modeling. The new AI-powered platform aims to provide 50+ million real estate professionals with market insights and simulation tools.

BRESH EXPANDS GLOBALLY

Bresh has teamed up with Carroll Street Capital to launch Bresh Global, a media and live events platform aimed at expanding Bresh’s global presence in the music and entertainment sectors. With headquarters in Miami and offices in LA and Madrid, Bresh Global plans to grow across the U.S., Europe, Asia, and Latin America. Carroll Street Capital specializes in media and entertainment investments.

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HIG MAKES A BIG SALE

H.I.G. Capital has sold its portfolio company Biovectra for $925 million. The Miami-based private equity firm sold the Canada-based pharmaceutical company to California-based Agilent Technologies. H.I.G. originally acquired Biovectra for $250 million in 2019 from the UK pharma firm Mallinckrodt.

BROWARD COUNTY COMPANY WINS MILLIONS

Zulu Pods has won a $2 million award from the Department of the Navy’s Office of Naval Research for developing fluid delivery systems for jet engines and drones. Based in Coral Springs, the company opened a larger R&D and manufacturing facility in Massachusetts. Co-founder Daniella Sladen hinted at a potential second facility in Florida. The company’s self-contained oil delivery pods are designed for short missions and improving engine efficiency.

BTG PACTUAL EXPANDS

BTG Pactual, Latin America’s largest independent investment bank, has acquired Miami-based Greytown Advisors, a firm managing wealth for ultra-high-net-worth clients in Central America. The purchase enhances BTG’s presence in the region and adds approximately $1 billion in assets under management. Greytown’s president, Marcello Correa, will become a partner at BTG. l

The Trade in Recreational Boats

MIAMI’S RISING TIDE IS EXPORT DRIVEN

BY YOUSRA BENKIRANE

Greater Miami’s yachting scene is making waves, both literally and figuratively. Just look at Jeff Bezos’s mega-yacht docked in Port Everglades, a symbol of the region’s growing status as a global hub for luxury marine vessels. In Q1 2024, the Miami Customs District solidified its reputation as a key player in the international boating industry, with exports surging and a diverse range of imports flowing in from around the world.

Recreational boats, which include yachts, motorboats, sailboats, and personal watercraft, are a major component of trade within the Miami Customs District, which includes Miami-Dade, Broward, and Palm Beach counties. The region’s proximity to affluent markets in the Caribbean and Latin America and its reputation as a global yachting and boating hub make it a natural center for the industry.

In Q1 2024, the Miami Customs District reported a total trade value of $788 million in recreational boats, with exports at $376 million and imports at $412 million.

Exports had surged dramatically, increasing by 79.2 percent from Q1 2023. Top export destinations included the Bahamas ($251M), Mexico ($35.3M), Costa Rica ($16M), Italy ($14.9M), and Portugal ($8.75M).

The Bahamas – the top destination –accounted for 66.7 percent of all exports, more than tripling in value from the previous year’s $76.5 million. This surge reflects the Bahamas’ growing demand for luxury yachts and recreational boats, likely driven by rising tourism, investments in maritime infrastructure, and affluent consumers establishing post-pandemic offshore residences.

Other significant Q1 markets included Mexico, albeit just up 1 percent from the previous year, Costa Rica (up 3.33 percent), Italy (up 79.3 percent), and Portugal (up 81.2 percent). The strong performance in these markets, particularly in Europe, reflects rising demand for American-made recreational boats, part of an overall rise in U.S. manufacturing capabilities.

The growing demand for U.S.-made

recreational craft has, in fact, dramatically narrowed the gap between exports and imports (with exports rising and imports falling). While exports experienced robust growth (from $210M to $376M), imports of recreational boats into the Miami Customs District decreased by 18.3 percent from $504 million in Q1 2023 to $412 million in Q1 2024. Top import origins include Italy ($159M), Taiwan ($64.9M), the United Kingdom ($53.4M), the Netherlands ($25M), and South Africa ($21.9M). Despite the overall drop in imports, Italy remained the leading source of recreational boats, supplying $159 million worth of vessels, or 38.6 percent of all imports. This is not surprising; Italy is renowned for its luxury yacht manufacturing, with brands like Ferretti, Azimut, and Benetti enjoying a global reputation.

South Africa, while a small player compared to Italy, remains an emerging market in the Miami Customs District’s recreational boats trade, holding a niche but significant segment. Q1 imports from South Africa decreased only 2.22 percent from the same quarter last year, while other countries saw a more dramatic decrease. South Africa is known for producing high-quality catamarans and other specialized vessels that appeal to specific market segments in the U.S. and the Caribbean. The country’s focus on innovation and craftsmanship has helped it carve out a distinct presence in the

THE MIAMI INTERNATIONAL BOAT SHOW

SHOWN ABOVE, THE MIAMI INTERNATIONAL BOAT SHOW IS THE WORLD'S LARGEST BOAT & YACHT SHOW. IN 2024 THE ECONOMIC IMPACT OF THE SHOW ON MIAMI WAS $955.6M, WITH OVER 100,000 BOAT SHOW ATTENDEES AND MORE THAN 1,000 EXHIBITING BRANDS AND 1,000 BOATS ON DISPLAY.

U.S. market, indicating potential for growth, especially if the country continues to capture the interest of niche buyers.

Another interesting emerging market is Taiwan, with a 67.6 percent increase in Q1 imports to the Miami Customs District from the same time last year. As Asia’s largest producer of yachts over 50 feet long and the world’s fifth-largest manufacturer, Taiwan builds over 70 percent of the yachts exported from Asia. For yachts over 78 feet, Taiwan ranks fourth globally, just behind Italy, the Netherlands, and Turkey. Taiwanese yacht manufacturers, such as Horizon and Ocean Alexander, have built a strong reputation in the global market.

As emerging markets like Taiwan and South Africa expand their presence, Miami’s role in the world of recreational boats is set to grow, solidifying its status as a premier destination for boating enthusiasts and industry leaders alike. l

RECREATIONAL BOATS IN 2024-Q1 TOTAL Q1 TRADE: $788M

The Vietnam Connection

TRADE BETWEEN MIAMI AND THIS ASIAN POWERHOUSE CONTINUES TO EXPAND, AND GROW IN COMPLEXITY

BY YOUSRA BENKIRANE

The trade relationship between the Miami Customs District and Vietnam has evolved significantly in recent years, reflecting the broader economic trends between the United States and Southeast Asia. As Vietnam emerges as a manufacturing powerhouse, its integration into global supply chains has made it an increasingly important trade partner for Miami, especially as the U.S. weans itself from low-cost Chinese imports. Vietnam has also become one of the U.S.’s largest export markets in Southeast Asia and a major recipient of foreign direct investment from the U.S., which has helped fuel its remarkable economic growth.

Nationally, U.S. exports to Vietnam have seen a 230 percent increase over the past five years while the value of its imports grew by more than 175 percent – a testament to both strengthening trade ties and Vietnam’s significant consumer market of some 100 million people.

This robust growth has been mirrored in the Miami Customs District, where exports to Vietnam have consistently increased, particularly from 2020 to 2023. In 2020, the total export value stood at $56.4 million, a figure that has since grown substantially. By 2021, exports had risen to $65.7 million, marking a 16.6 percent increase. The upward trajectory continued in 2022 with exports reaching

$76.4 million (up by 16.2%) then sharply accelerated in 2023 to $127 million (a 66.7 percent surge). In the first five months of 2024, exports totaled $45.1 million, reflecting a more modest growth of 2.82 percent from the same time last year.

The composition of these exports has shifted over time. In 2021, the leading exports were computers ($19.9 million), followed by scrap iron ($5.57 million), and vaccines, blood, antisera, toxins, and cultures ($3.35 million). However, by 2022, aircraft parts emerged as the top export category, valued at $23.6 million, signaling Miami’s growing role as a conduit for high-value aerospace products. The trend of exporting high-tech components to Vietnam continued in 2023, with aircraft parts increasing sharply to $52.5 million, gas turbines to $10.9 million, and vaccines to $8.82 million. The first five months of 2024 saw this trend continued, with aircraft parts ($14.8 million) and medical instruments ($7.78 million) leading the export categories, alongside recycled paper ($3.28 million).

This evolution in the Miami-Vietnam trade profile underscores the Southeast Asian’s expanding demand for high-tech and industrial goods, reflecting its broader economic growth and industrialization. The increase in the export of medical instruments and recycled paper in early 2024 also suggests a diversification in trade, driven by Vietnam’s growing healthcare sector and environmental initiatives.

VIETNAM’S ROLE AS A KEY IMPORT SOURCE

On the import side, Vietnam has become Miami’s second-largest source of imports from Asia, after China. The import figures have grown steadily, from $1.47 billion in 2020 to $1.98 billion in 2021, a 34.8 percent increase. This growth continued in 2022, albeit at a slower pace, with imports reaching $2.1 billion (up by 6.2 percent), further climbing to $2.34 billion in 2023 (an 11.2 percent increase). The first

Vietnam’s Trade with the Miami Customs District

five months of 2024 alone saw imports surge to $1.22 billion, up by an astonishing 59 percent compared to the same time last year.

Source: United States Census Bureau USA Trade® Online

COUNTRY SNAPSHOT: VIETNAM

CAPITAL: HANOI

POPULATION: APPROXIMATELY 100 MILLION (2024)

OFFICIAL LANGUAGE: VIETNAMESE

CURRENCY: VIETNAMESE DONG (VND)

ECONOMIC OVERVIEW

GDP: APPROXIMATELY $465.8 BILLION USD (2024)

REAL GDP GROWTH RATE: AROUND 5.8% (2024)

GDP PER CAPITA: ABOUT $4.62 USD (2024)

MAJOR INDUSTRIES: TEXTILES AND GARMENTS, ELECTRONICS, AGRICULTURE, TOURISM, AND SERVICES

SOURCES: International Monetary Fund

“Vietnam presents a really interesting opportunity, especially in light of recent divestments from more antagonistic partners –like the CCP-controlled China – and more into countries that don’t have as much foreign concern,” says TJ Villamil, President of Business Development at eMerge Americas and immediate past president of Select Florida, the State’s international investment promotion agency. “Florida exporters, manufacturers, and importers are looking for a safer, more stable environment for a trading relationship,” he says.

The top imports from Vietnam have remained relatively consistent, with telephones being the largest import category. In 2021, imports of telephones were valued at $788 million, followed by integrated circuits at $410 million, and furniture at $132 million. The trend shifted slightly in 2022, with integrated circuits ($592 million) surpassing telephones ($530 million) as the top import, reflecting the global demand for semiconductors. By 2023, telephones regained their position as the top import ($793 million), followed by integrated circuits ($391 million) and unspecified commodities ($215 million). The early months of 2024 continued this trend, with telephones leading at $494 million, integrated circuits at $232 million, and unspecified commodities at $137 million.

The consistent dominance of telephones and integrated circuits highlights Vietnam’s pivotal role in global electronics manufacturing, with Miami serving as a crucial entry point for these goods to U.S. and Latin American markets. Overall, the Miami-Vietnam economic relationship is characterized by robust growth, diversification, and increasing complexity. Both regions stand to benefit from this evolving partnership, which reflects broader trends in U.S.-Asia trade and investment. l

Türkiye

Consul General Resul Şahinol came to Miami in October 2023 after previously holding the position of Deputy Chief of Mission at the Turkish embassy in Washington. Following a ten-month period as Miami’s Chargé d’Affaires, he was officially named Consul General

How do you compare Washington, DC, to Miami?

It’s totally different. Washington, DC, mainly focuses on the bilateral relations between Türkiye and the United States, with political issues dominating the agenda. Although Türkiye and the U.S. are longstanding allies with good cooperation, there are still challenges in the relationship. In contrast, my role in Miami is quite different. I don’t deal with political issues but focus on the Turkish-American community in my jurisdiction, which includes North Carolina, Georgia, South Carolina, Florida, and Puerto Rico. I engage with the community by visiting their offices, workplaces, and factories to extend our support.

Can you describe the Turkish community here in South Florida?

It’s more than quantity, we are about quality. While the Turkish-American community is smaller compared to the Latin American diaspora, it is notable for its quality. We have around 27,000 registeredTurkish-Americans in my jurisdiction, many of whom are investors and business owners. They are active in economic life and contribute significantly. We support all Turkish people including businesspeople, investors, academicians, and artists coming from Türkiye to the U.S., looking for better business opportunities. For example, a cosmetic company here imports products from Istanbul and has recently invested around $2 billion in Latin America. We also have companies in construction, transportation, logistics, furniture, and marble.

What are the main challenges for Turkish businesses entering the South Florida market?

The primary challenge is the visa problem. Turkish visa requests are often delayed, taking at least a year. Turkish businesspeople typically get investor visas, but bringing employees is difficult. For instance,

of the Republic of Türkiye in Miami in early August. Last year, trade between Türkiye and the Miami Customs District exceeded $1.1 billion, mostly imports. For the Consul's entire area of jurisdiction, trade exceeded $5.5 billion.

if you’re importing furniture from Türkiye, you need specialized workers for setup. The visa issues prevent these workers from coming to Miami, complicating the process.

What opportunities do you see between Türkiye and Miami in the coming years?

Miami is evolving rapidly, offering opportunities for both large and small investors. Unlike New York, where space is limited, Miami has room for growth. While Miami has traditionally been seen as a vacation spot, it is increasingly becoming a hub for business and jobs. In five to ten years, the city will have transformed significantly, in my opinion. Miami’s has a unique position as a gateway to Latin America and North America, great climate, tax exemptions, and at the same time the people living here are quite friendly. This is rather appealing to Turkish people. They like to do business with them because most people living in Miami are Latin and we have very similar cultures. Rather than making a written agreement people say, ‘Okay, we agree.’ They shake hands, then go to dinner. They trust each other. That is the most important thing.

Are you focusing on specific goals during your tenure?

I aim to build on existing projects toward a larger scale while starting new ones. For example, when I arrived, I met with university students who were concerned about their future after graduation. We facilitated collaboration between the businesspeople and the Turkish university students to develop programs and networking events. These events help students secure internships and job opportunities, reinforcing our support. I keep in touch with every student in my area and provide them with my contact information. We also facilitate cooperation between Turkish and American universities on different areas. l

CONSUL GENERAL SAHINOL, PHOTO BY RODOLFO BENITEZ

Filling Offshore Power Needs

FROM SAILBOATS ON THE HIGH SEAS TO THE CARIBBEAN AND BEYOND, EMARINE KEEPS THE LIGHTS ON

BY JOSEPH A. MANN JR.

It is a narrow, unusual, but in the end necessary niche: providing electrical systems for vessels headed out to sea, and for Caribbean customers who need renewable and backup power for their homes. A small business operating since early 2020, eMarine provides solar panels and wind turbines – as well as batteries, electric motors and DC-to-AC converters – that power navigation lights, radio systems, pumps, appliances and other equipment on sailboats and other watercraft here and overseas.

The Broward County-based company also sells renewable, independent power systems to Caribbean customers for their homes, manufactures specialized products for sailboats, and – through sister company eRV – renewable energy systems for recreational vehicles and campers in the wild.

The location of eMarine in Fort Lauderdale is as perfect a fit as water-tight teak decks on a schooner. While the recreational marine industry generates about $12.5 billion per year in South Florida economic activity, the Marine Industries Association of South Florida (MIASF) says more than $9 billion of that is in Broward County. Over 45,000 yachts, sailboats, fishing vessels and pleasure craft are registered in Broward County, according to the Florida Fish and Wildlife Conservation Commission.

Most of these watercrafts are based in Fort Lauderdale. Called “The Yachting Capital of the World,” the city’s climate, canals, marinas, boatyards, maintenance/repair facilities and related businesses also attract yachts and sailboats from around the world.

“We are unique in South Florida,” says Alex Marron, an electrical engineer who is CEO and founder of RNW Energy Systems Corp., which owns eMarine and eRV. “We operate in a highly competitive market, and we have a niche that focuses on entire solutions. Buying an energy system – wind, solar, or energy storage – can be overwhelming for sailboat owners or captains, and we distinguish ourselves by providing system designs and guidance on what to use.”

When buying solar panels, for example, a boat owner needs to decide on how many panels of what size will be needed to charge that boat’s batteries, how and where to correctly install panels and

We are unique in South Florida. We operate in a highly competitive market, and we have a niche that focuses on entire solutions...

wire them to batteries, what is the best type of battery, etc. The wrong type of system can mean serious problems on the open seas.

In addition to its U.S. customers, eMarine sells to clients in Canada, the British Virgin Islands, The Bahamas, Germany, the U.K., Mexico, Honduras, Colombia, Singapore and Hong Kong, says Marron. Clients can buy equipment at eMarine’s headquarters, or order from overseas.

Marron’s firm also manufactures two lines of products on site: wind generator control panels for Ryse Energy, a company that specializes in renewable energy, and hardware kits for installing solar panels on soft surfaces. It also sells proprietary products that mitigate noise on wind turbine masts, which can be a nagging problem for sailboats. About 65% of eMarine’s clients are sailboat owners.

Marron, who also has an MBA, previously worked as an engineer at MSI, a Taiwanese multinational tech firm, and Intel. He formed RNW Energy Systems by purchasing the assets, brands, data bases, and Internet platform from another marine equipment firm during the pandemic. “My team told me that I was crazy,” Marron says. “From my perspective, it was a significant risk, but I had much better bargaining power.” Marron’s gamble paid off: eMarine started with five employees and now has 12, with annual sales of $2 million and a solid portfolio of local and international clients. l

ALEX MARRON, ABOVE, CEO AND FOUNDER OF RNW ENERGY SYSTEMS

Higher Education in Soccer

TIME FOR YOUR MASTER’S DEGREE FROM THE GLOBAL INSTITUTE OF SPORTS

BY KATELIN STECZ

Even before Lionel Messi’s arrival, Greater Miami was on its way to becoming a capital for international sports. In 2018, the Confederation of North, Central American, and Caribbean Association Football (CONCACAF) moved its headquarters to Downtown Miami. In 2021, the FIBA 3x3 Americup debuted in Miami. The following year, Formula One started running the Miami Grand Prix, and in 2023 Miami hosted the World Baseball Classic. The list goes on, though it was Messi’s arrival last year on Major League Soccer’s InterMiami squad that highlighted the area’s international sports scene like never before. For the Global Institute of Sports (GIS), the Fort Lauderdale stadium that hosted Messi’s home team – Chase Stadium (formerly DRV PNK Stadium) – provided the perfect launching pad for its first North American campus.

GIS, as the name suggests, is an international institution for sports education, offering postgraduate and Master’s programs in soccer in particular and the sports industry in general.

In 2022, the school launched its first Master’s program at Chase; those students completed the program earlier this year, marking GIS’s first batch of local graduates.

Comparing GIS to the concept of art institutes and fashion schools, Rick Cross, global recruiter for GIS, says the organization’s goal is to provide a direct pipeline of talent to the sports industry.

“Up until now, you’ve kind of had to know someone to work in the industry. [But] there are so many people who have played [soccer and other sports] at such a high level. Maybe they grew up playing or played in college, but they don’t go pro. The sports industry doesn’t want to lose those people and the knowledge they have to other industries,” says Cross.

For now, GIS primarily focuses on a soccer centric curriculum with generalized degree programs in the sports industry such as international sports management or sports marketing and media. It does provide a small cricket program in Australia, and being in the United States opens the door for expanding its educational model to baseball, football and hockey.

GIS offers both hybrid and online learning options; for certain degrees in business or performance analysis, only the online format is currently available. More in-person classes will be offered at its Fort Lauderdale campus.

Recent University of South Florida Graduate and current GIS student Toby van Deijck says he chose GIS over attending a traditional MBA program because of the contacts the institute provides. “I think the connections and the events that GIS hosts open so many doors for you,” says van Deijck who secured his current internship with Miami FC, a United Soccer League club, after attending a GIS event. GIS programs host a variety of students from ex-professional hockey players looking for a career change to retiring soccer players. Brad Guzan, the goalie for Atlanta United in Major League Soccer (MLS) is currently getting his Master’s with GIS, says Catherine Garrido, GIS’s regional director of the Americas.

Currently, GIS has campuses in Miami, Melbourne, Brussels, Dubai, and London, with plans to expand to BMO Field in Toronto and Red Bull Arena in New Jersey. Cross says GIS is looking to offer classes in Spanish in the next few years with an eye toward Latin American campuses. Annual tuition averages $13,000, and all programs are accredited by the Florida Department of Education. l

GLOBAL INSTITUTE OF SPORTS (GIS) GOAL IS TO PROVIDE A DIRECT PIPELINE OF TALENT TO THE SPORTS INDUSTRY

Building Future Classrooms

HOW TWO ARGENTINE ENTREPRENEURS FOUND A NICHE IN THE ART OF BUILDING NEW SCHOOLS

BY OSCAR MUSIBAY

One of the critical issues facing corporations looking to recruit new talent to Greater Miami is the quality – and quantity – of schools in the area. Two entrepreneurs from Argentina recognized the demand for preschools to K-12 schools in South Florida – especially with the expansion of Florida’s voucher system and the national movement for school choice programs – and have staked their future on supplying the bricks and mortar required.

Fortec Chairman Pablo Barreiro and CEO and Co-Founder Martin Saidon launched their business model in 2020, based on the idea of building custom facilities for successful school operators. In under four years, Fortec has achieved remarkable growth by developing 20 schools and executing over $170 million in educational real estate deals. Their Miami-based company has centers

across Florida, Virginia, Georgia, Massachusetts, Washington, Illinois, Texas and Connecticut, and has invested nearly $35 million across South Florida to transform more than 62,000 square feet of land into thriving educational centers. Fortec has signed leases with school operators that include several Montessori networks, in some cases turning abandoned properties in once blighted areas into vibrant community landmarks.

“As a developer, we make choices about what will help the community,” Barreiro says. “Building a school that will have an impact on giving more choices to families, that is fulfilling.”

Fortunately for Fortec, the demand for education is rapidly growing. An influx of 20,000 students from outside the U.S. was absorbed into the student body at Miami-Dade Public Schools in 2022-2023,

As a developer, we make choices about what will help the community. Building a school that will have an impact on giving more choices to families, that is fulfilling...

PABLO BARREIRO, CEO & CHAIRMAN (RIGHT) WITH FORTEC CO-FOUNDER MARTIN SAIDON

according to Public Schools Chief Financial Officer Ron Steiger. Private school enrollment meanwhile skyrocketed from 24,000 to 37,000, a 54 percent increase.

Further fueling demand for better schools is the relocation to Miami of wellheeled captains of industry (the leading edge of which includes billionaire Ken Griffin, CEO of hedge fund Citadel, and billionaire Jeff Bezos of Amazon and Blue Origin), who have driven real estate values into the stratosphere with their multi-million-dollar purchases of homes in the region. This astounding invasion of C-suit executives and their families has outstripped supply and is probably slowing Miami’s growth. “It doesn’t have enough schools,” Barry Sternlicht, Starwood Capital Management CEO, told Bloomberg Television. “There are a lot of companies that would move down if they could get their employees’ kids into schools, which is impossible.”

Fortec’s goal is to help turn the impossible into the possible. With more than $40 million in projects under development -- $22 million in Florida – Fortec is giving families more choice in schools for their children. It recently signed a lease with Guidepost Montessori and Academy of Thought and Industry to operate two schools serving pre-K, elementary and high school students in Hollywood Beach. These two facilities cost $9.8 million to build, and like other Fortec projects were built specifically to meet the requirements of their educational tenants.

Saidon said Fortec’s commitment to excellence is rooted in the legacy their projects represent. “We are enhancing the area and the community,” Saidon told Global Miami. “A school is not something that will be there only for a couple of years. It’s going to be there for a long time.” l

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Sky Taxis?

AN UBER-LIKE SERVICE WITH ELECTRIC PLANES THAT TAKE OFF VERTICALLY MAY SOON BECOME A REALITY IN MIAMI

BY OSCAR MUSIBY

Anyone who has seen Sci-Fi movies like "The Fifth Element" or "Bladerunner" – or who read Popular Science or Popular Mechanics as a kid – may be wondering why our 21st century skies are not filled with flying cars. Ed Wegel wondered the same thing. So, as founder and Chairman of Miami-based UrbanLink Air Mobility, Wegel decided it was time to become the first provider of advanced air mobility (AAM) solutions in an urban setting.

While the aircraft he will use – zero-emission electric vertical takeoff and landing (eVTOL) planes manufactured by German firm Lilium – look less like the flying taxis than small jets, the concept is roughly the same. The idea is to quickly take local passengers from point to point in airborne craft.

Officially launched in May, Wegel envisions UrbanLink operating like an airline by the summer of 2026, with ticketing, security, and screenings. Planes would fly at up to 3,000 feet and travel at up to 180 mph. That would mean a 25-minute flight from Miami to Palm Beach. So far, UrbanLink Air Mobility has ordered 20 eVTOL craft from Lilium, each of which can carry six passengers at distances of up to 150 miles on one charge. The Lilium craft use 36 ducted fans on wings that swivel to achieve vertical flight. “Cabins are very spacious, and it looks like an aircraft, which will be critical to public acceptance,” says Wegel.

UrbanLink has begun discussions with Miami-Dade County about constructing landing pads at Miami-Dade airports, including at Miami International and Opa-locka, and has partnered with French infrastructure company Ferrovial and California-based

Skyway Technologies Corp to build its vertiports, which eventually could sprout atop tall buildings or in surface lots. “We intend to expand rapidly once we establish our base in Miami, and we expect to operate from San Juan [Puerto Rico] as well as Los Angeles. We are also looking at Texas,” Wegel says.

“We’re incredibly excited to have UrbanLink as a customer, especially given that they are the first airline in the U.S. to fully commit to integrating eVTOL aircraft into their fleet,” said Matt Broffman, Lilium’s head of partnerships and public affairs for the Americas. “UrbanLink’s commitment to buy 20 Lilium Jets, with an option for 20 more, is one of the industry’s largest commitments by an operator.”

Wegel himself is a seasoned airline executive with over 40 years in airline financing, operations, and certification. He has led groundbreaking initiatives that have shaped the U.S. aviation industry, raising more than $1 billion for various ventures. (The start-up $2 million financing for UrbanLink is from Wegel’s aviation VC company Avi8 Air Capital, with more fund raising in the works.)

Among Wegel’s accolades: he introduced several new aircraft types into the U.S. market, including the Embraer E-145 and the Airbus A321 freighter; he spearheaded the privatization of Trinidad and Tobago’s national carrier; he served as the General Partner for Jetstream Air Lease, overseeing a $500 million commercial aircraft leasing fund; he co-created SCALE, the $2 billion aircraft leasing platform for Credit Suisse; and he was pivotal in formulating the initial business plans for JetBlue and Republic Airways.

As if the Sisyphean task of launching an urban electric plane service wasn’t enough, UrbanLink recently announced a partnership with Ireland-based Artemis to add carbon-free sea crafts to its transportation fleet. The entrepreneurial Wegel is also speaking to hospital networks like Jackson Memorial and Baptist Healthcare to create private-label emergency programs for Lilium aircraft to deliver transplant organs. “The potential is limitless, and we are committed to designing a network that will continually expand and grow as far as possible,” Wegel says. l

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A Piece of the Pie

AFTER FINDING SUCCESS IN SPAIN AND COLOMBIA, PIBANK LAUNCHES IN MIAMI

BY DREW LIMSKY

Pibank, a subsidiary of Intercredit Bank, only recently planted its flag in Miami, but given its history and one tantalizing number, success seems likely.

First the number: Pibank is offering a high-interest savings account at 5.50% APR, a high-yield rate that would be difficult to match anywhere else in the state – or in the country, for that matter. No minimum balance is required, and there are no fees to open or maintain an account. (Like national household-name banks, Pibank offers savings accounts that are FDIC-insured up to $250,000.)

Then there’s the history. Pibank launched in Spain in 2018 and expanded to Colombia in 2022, just as global consumers were becoming more comfortable socking away their money via their laptops and phone apps, as opposed to relying on brickand-mortar banks.

Pibank debuted its Coral Gables headquarters in August (Intercredit was established in Miami in 1992) with Maria Peuriot as executive director for Pibank U.S. As a member of the founding team of Pibank in Spain and Colombia, she is quick to explain what Pibank is – and what it is not.

“We are the direct bank of Intercredit in the U.S. When I say direct bank, it’s very different from what you’d expect, which is [probably] an online bank,” she says. The distinction resides in the personal touch. “An online bank uses the best technology and it tends to offer every service to their clients, but on our end, although we use technology to reach our clients and to provide a service to them, when our clients face one of those moments of truth, or one of those pain points – whether it is sending us an e-mail or contacting us on the phone or through social media – we don’t use

We target individuals who already have had the experience of buying financial products online…

MARIA PEURIOT, EXECUTIVE DIRECTOR FOR PIBANK U.S

chat bots.” Instead, Pibank goes old school, with actual humans. “We have a team of US-based customer service representatives that takes care of the client,” she says. “We are dealing with people’s money, and that is something that we take very seriously.”

Given the youth of Pibank’s Miami outpost, clientele is still evolving, but the bank is primarily attracting personal depositors. “We target individuals who already have had the experience of buying financial products online,” she says. “We don’t like to target our clients by age, but we do have a wide range... In Spain and Colombia, the people who have access to savings are older. But what we are experiencing here in the US – and again, we are new to the market –is that the level of savings that people have is probably higher than in other countries.

Therefore, I would say we could be looking at people between 25 and 65 years old.”

Initial response to Pibank has been strong enough that customers are inquiring about future products. “Some people have already asked me what the next product is going to be,” Peuriot says. “This is something that makes us so different from our competitors. We don’t have a road map of which Pibank products should be developed in each country. We listen to what customers need.”

In Spain, for example, Pibank launched with payroll and checking accounts; saving accounts and CDs followed. Colombians wanted saving accounts, CDs, and personal loans. “It really depends on what the customer needs in this country,” Peuriot says, “but for sure, we will increase the number of available products.” l

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Rum Runners

HOW A TRIO OF COLLEGE STUDENTS FROM SOUTH AMERICA LAUNCHED THEIR RUM BRAND IN MIAMI

BY KATELIN STECZ

I

n the summer of 2021, Ricardo Sucre, Gabriel González, and Gustavo Darquea walked into a Miami highrise with a giant keg and tank of CO₂. The party was a friend of a friend’s that Sucre only vaguely knew, but it was a perfect opportunity to field test their rum seltzer. They found an open corner, hooked the keg up to the CO₂ tank, and began making their cocktails as reggaeton blasted in the background. Later that night, the trio returned to their AirBnB and discussed the next party they were going to crash.

“I would show up to people’s apartments with [Gustavo] and [Gabriel] behind me carrying a freaking CO₂ tank,” says Sucre. “And we’d say, ‘Hey, we heard there’s a pre-game.’ At first people would ask, ‘What the hell are you doing with that?’ But I’d say just give me five minutes. Let me serve our drink, and if you don’t like it, you can kick us out…. Nobody ever kicked us out.”

You could say the story of Casalú started in Miami, but it really began nine years ago when the trio met as students at North Carolina State University. All coming from a Latino background – Sucre and González from Venezuela, Darquea from Ecuador –they bonded over the lack of Latino representation in mainstream culture – and the fact that the rum selection in North Carolina was, as Sucre puts it, “Sad and pretty terrible.”

“We were able to connect over our culture, and rum was just a part of that,” says Sucre. The seeds for Casalú were planted, and during the pandemic they took hold.

Unlike the frat house cliché, Sucre never liked drinking beer in college. During the pandemic, he was inspired by drinking a High Noon vodka seltzer. He thought, what if he made an RTD (readyto-drink beverage) for Latinos – an RTD with rum? Following his eureka moment, Sucre went to Target, bought a SodaStream, and began experimenting with a rum seltzer.

Over the next year, Sucre and his two partners perfected Casalú’s recipe, and in 2021, the trio started crashing parties. They also pitched their idea to the NC State Startup Accelerator and were one of five (out of 60) startups to receive a $5,000 investment – just enough to buy a keg and move to Miami. And through González’s connection with a professor at NC State, Casalú then raised $1.3 million from four members of the board at Caesars Entertainment, which later introduced their product in Las Vegas.

With funding in hand, Casalú officially launched in April 2022. By December, they were a sponsor at Miami’s Vibra Urbana, the biggest reggaeton festival in the U.S., where Casalú outsold all other RTDs.

This year, Casalú is on track to double its 2023 sales, with 350,000 units expected to ship. The trio also wants to use Casalú as a platform to promote Latino artists and Latino culture in general. Sucre compares his vision for Casalú and Latino culture to what Red Bull did for promoting extreme sports.

“Before Red Bull, extreme athletes were just a bunch of weirdos, right? I mean they weren’t football players or traditional athletes. But Redbull gave them a platform and brought them to pop culture. That’s what we want to do with Casalú,” says Sucre. As of now, Casalú rum seltzer is only available in the U.S., but distribution across Latin America is the next target. l

L TO R: GABRIEL GONZÁLEZ, RICARDO SUCRE AND GUSTAVO DARQUEA CASALÚ IS AVAILABLE IN LIMON AND MARACUYA FLAVORS, WITH THREE MORE FLAVORS COMING IN THE NEAR FUTURE.

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That dedication stems from a core belief that we are more than just an institution serving our community; we are a team that believes in building a brighter, more inclusive future. We proudly support charities dedicated to touching lives profoundly - be it providing a haven for the unhoused, offering a guiding hand to individuals with autism, or bringing a ray of light into the lives of Alzheimer’s patients and their families.

Together with organizations that share our vision, we strive to give back to the place that has given us so much, to be one link in a network of love that resonates with the vibrant spirit of Miami.

Think Outside the Blocks

The Art of the Pool

HOW A FORMER MUSICIAN BECAME THE MOSAICIST, CREATOR OF HIGH-END POOL DESIGNS

BY J.P. FABER

Amosaic is an ancient art form typically created by cementing stone or glass tiles to a wall or floor. It is closely associated with the Roman empire, where decorative mosaics adorned the walls of wealthy homeowners, or the ceilings and floors of public buildings.

Today, a Miami-based company –Mosaicist – has brought the art form back to life in the guise of decorating the pools of affluent clients like Larry Ellison of Oracle, and Arthur Blank, CEO of Home Depot. Their pools are two of some 300 projects around the country installed by Mosaicist and its CEO, Ray Corral, aka The Mosaicist.

With 175,000 followers on Instagram, Corral has ignited a new, viral interest in the design of pool floors, creating fantastic designs based on elements of a client’s home’s motifs, something for which they are willing to pay handsomely. Demand for his unique pools is so strong he has had to relocate a

team of craftsman from overseas.

“Acquiring the work visas was extremely challenging – years of red tape and political patience,” Corral says. “I had to strategize, play a government chess game. Everything was important, from application structure to political governments. When the environment was more immigration-friendly, we pushed forward for visas. When it wasn’t, I had to be patient until the opportunities opened again.” In the end he was able to recruit and relocate skilled craftsmen from Latin America, Brazil and even Europe, skills he says are no longer practiced by U.S. artisans.

For Corral, his success with Mosaicist is a far cry from where he was twenty-five years ago. At the time he was a musician, a percussionist for top acts for Universal Studios, and performances for years with Madonna, who discovered him in a South Beach, Miami nightclub called Bar Room.

“I was in the music industry as a performer and songwriter, and I was very successful in my own right,” says Corral, who continues to be a partner in one of the biggest recording studios in southeastern USA, Miami-based Mecca Multi Media, Inc., also known as M3 Studios. “I worked with Madonna, and she was my claim to fame,” says Corral, and it was that connection which led to his first important commission as a mosaicist.

When Madonna radically cut her concert tours after having a child, Corral found himself mostly working as a musician at nightclubs, with time on his hands. Having been a visual artist when he was younger, he started dabbling again in drawing, painting and creating small mosaics. “I grew a passion for mosaic art. I performed at night and made mosaics during the day, selling them in consignment stores. It didn’t bring in much money.”

Corral’s career as a mosaicist took a leap forward with a commission from one of Madonna’s associates, who hired him to install a large medallion floor mosaic in the entrance to his home. Next, the client wanted his pool done. “It took me forever to make the medallion – like three months – but then I ordered the glass tile [for the

pool] from this Mexican company,” he says. “That’s when I said, ‘Hey, maybe I should start selling these mosaics for pools.’ So, I started to do some designs.”

He also took a deep dive into the ancient art of creating mosaics, travelling to Mexico to meet Luigi Scodeller, the great Italian master of mosaic art, for whom he apprenticed to learn the art of manufacturing and placing glass tiles. “Underwater applications have a very, very high risk of tile popping out and things like that, so it was a learning curve,” he says. “Things really took off after that, with my first big commission – for a swimming pool in Palo Alto, California, for a designer named Marilynn Berke,” Corral says. Word soon spread and

As business grew, I needed additional artisans –real masters to transform this ‘one-man show’ into a mosaic empire. It wasn’t easy...

RAY CORRAL, THE MOSAICIST, SHOWN ABOVE.

OPPOSITE & MOSAIC INSET DETAIL: OLD CUTLER ROAD, MIAMI

ABOVE: COUNTRY CLUB PRADO, CORAL GABLES (DAY & EVENING)

Corral found himself booked months in advance – and in need of qualified craftsmen who could do the work.

“As business grew, I needed additional artisans – real masters to transform this ‘one-man show’ into a mosaic empire,” says Corral. “It wasn’t easy. I couldn’t find the craftsmanship that was needed within the U.S. So, I started scouting for the best mosaicists worldwide.” He then began a multi-year task of scouring Latin America and Europe, securing work visas for his crew. “Now, we have recruited the best,” says Corral, forming what amounts to the only U.S. company specializing in underwater mosaic art, delivered as turnkey projects.

Today Corral lives in a historic home in the Miami suburb of Coral Gables. His clients include a litany of business leaders and celebrities, including Gables entrepreneur Matthew Meehan. “What Ray and his

team of artisans did was just incredible,” says Meehan. “Ray was able to design a custom one-off mosaic floor for our pool using inspiration from our historic home … A one-of-a-kind art mosaic.”

Corral has also become a local philanthropist, helping other aspiring artists with grants through a special fund established with the Coral Gables Community Foundation. “I give grants to individuals, rather than organizations. I give them to artists, real artists, a lot of whom work as volunteers and teachers. I just know what they are going through.” In the process, Corral has become involved with the city’s program of public art installations. “We understand the power of art to uplift spirits and unite a community, especially art in public places. It starts conversations and nurtures creativity…. I want to help create a world where art is an inspiration.” l

Global Authorship

THIS YEAR'S MIAMI INTERNATIONAL BOOK FAIR PROMISES TO BE BIGGER AND BETTER THAN EVER

BY KATELIN STECZ

For one week every November Miami

Dade College’s (MDC) Wolfson Campus is transformed into a literary agora. Authors from all over the world are invited to speak about their works. Vendors, booksellers, writers, and residents buzz around campus, sharing books, exploring new titles, and celebrating the written word at the Miami Book Fair.

Founded in 1984 by influential Miami bibliophiles – former MDC Wolfson Campus President Eduardo J. Padrón, Books & Books owner Mitchell Kaplan, and Craig Pollock of BookWorks –the fair was established to grow the city’s literary scene and provide a platform for international authors in the U.S. Over the years it’s become one of the largest literary fairs in the nation.

This year, from November 17 to 24, MDC will continue the tradition, hosting author talks and fireside chats at the downtown campus until the weekend hits. That’s when the street fair portion of the event begins, during which artisans, authors, and

food vendors take over five streets surrounding the campus. Admission is free on the first Friday and $12 for adults on the following two days. This year, organizers estimate that more than 150,000 tickets will be sold.

Some 600 authors from more than 25 countries will attend the fair, a mix of new and veteran writers. Some highlighted works are “We Will Be Jaguars,” a memoir of Nemonte Nenquimo’s childhood in the Waorani tribe in Ecuador; “Children of Anguish and Anarchy” by Nigerian Tomi Adeyemi and “Latinoland: A Portrait of America’s Largest and Least Understood Minority,” by Peruvian-American Marie Arana.

According to Lisette Mendez, executive director of the book fair, invitees are selected by various MDC committees for relevancy, representation, and, of course, general interest. “We want to make sure the works will resonate with people in the community,” says Mendez. For Mendez and MDC, this means selecting works that reflect and celebrate Miami’s rich diversity.

The fair also hosts specific programs that showcase authors from various regions. For instance, READ CARIBBEAN features events and talks highlighting Haiti and the Caribbean; READING EAST explores authors writing about the Middle East and South Asia; and IBEROAMERICAN AUTHORS is a Spanish-speaking program that presents Hispanic storytellers. In addition to Spanish and English, the fair will offer programs in French, Haitian Creole, and Portuguese.

Mendez says part of what makes the Miami Book Fair unique is its commitment to diversity, inclusivity, and the representing of voices once overlooked by the publishing industry. “Maybe 40 years ago, the publishing industry wasn’t publishing as many black or Latino authors, or different kinds of narratives like the LGBTQ narrative,” she says. “Now we have the chance to celebrate that.”

The fair also features books and events for readers of all ages. The Children’s Alley will host live readings, hands-on experiments, and arts and crafts, and this year will see the debut of the Reading Garden, where attendees of all ages can enjoy their new books amidst the atmosphere of the fair. Mendez’ emphasizes that the fair’s mission remains steadfast: to cultivate Miami’s literary scene in a way that is exciting, international -- and accessible to all community members. l

BOOK LOVERS DESCEND ON THE MDC WOLFSON CAMPUS TOP: SALMAN RUSHDIE TALKS AT LAST YEARS EVENT

Three Facilities in 300,000 Sq Ft Over Miami, Totaling

Global Tastes

THE WORLD’S LARGEST DISPLAY OF FOOD PRODUCTS UNFOLDED AGAIN THIS YEAR IN MIAMI

BY KATELIN STECZ

At the World Trade Center Miami’s annual Americas Food and Beverage Show, attendees experience the closest thing possible to teleportation – gustatory teleportation, that is. Rows and rows of booths featuring food from around the world transform the Miami Beach Convention Center into a bustling bazaar, where each turn takes you to a different country. You might begin in Spain, sipping Spanish wines while Michelin-starred chef Malyna Si explains the nuances of jamón ibérico. A few booths later, you could sample caviar and freshly cut toro from Japan. The rich aroma of French chocolate might lure you to the France pavilion, or the lively sounds from the next row could draw you to Brazil, where a caipirinha made with authentic cachaça and imported passion fruit awaits.

Every year, the Miami Beach Convention Center undergoes this nourishing transformation, but this year’s show (September 16-18) was the WTC Miami’s largest and most influential yet. Hosting 735 exhibitors with 950 booths representing over 90 countries, WTC Miami attracted buyers from across the globe. This year saw more than a 40 percent increase in attendees, with over 10,000 buyers attending.

“This has been a record year for us [and] we’re already seeing interest in next year’s show,” says Ivan Barrios, CEO and president of WTC Miami. According to Barrios, WTC Miami has already secured more space for next year, expanding from three to four halls, and tickets are already 45 percent pre-sold.

Barrios attributes the show’s success to several factors, including WTC Miami’s strategic partnerships. This year marked the first collaboration between WTC Miami and Informa Markets, one of the largest event companies in the world, to co-host Informa’s Food and Hospitality LATAM (FHL) show. Focusing on food service and equipment, FHL complements AF&B’s traditional food-product showcase, adding a new dimension. The collaboration created a one-stop shop for many buyers says Barrios, a partnership WTC Miami will continue at least through 2026.

WTC Miami also hosted the Latin Chamber of Commerce of the USA (CAMACOL) for its 45th Hemispheric Congress during the show. This gathering of leaders from Latin American chambers of commerce focused on strategies to increase trade within the region. Barrios says holding the event at the Americas Food and Beverage Show allowed business leaders to explore opportunities they could offer their countries.

Barrios says the show’s growth is also tied to its increasing value. To enhance this value for buyers and exhibitors, WTC Miami continued using its AI-powered show app, which debuted last year. The app matches buyers and exhibitors based on profile details, streamlining meetings and connections amid the busy atmosphere.

WTC Miami hosted around 100 buyers at the show, covering their lodging costs and waiving admission fees, to generate new markets. WTC Miami also collaborates with the U.S. Foreign Agriculture Service as well as various food and beverage associations to help recruit ideal buyers. An essential aspect of this process, Barrios explains, involves soliciting feedback from exhibitors about the types of buyers they seek – all part of WTC Miami’s mission to foster international trade and collaboration within the food and beverage industry. He says next year’s show will be even bigger. l

2024 AF&B SHOW FEATURED 735 EXHIBITORS, 950 BOOTHS WITH 90 COUNTRIES PARTICIPATING AND 10,000 BUYERS ATTENDING

Old World to Old School

CHRIS KLAIC’S OVERSEAS UPBRINGING PREPARED HIM FOR RUNNING CORAL GABLES’ OLDEST RESTAURANT

BY J.P. FABER

I

n Coral Gables, the leafy, affluent suburb of Miami, nothing speaks to the city’s heritage like Christy’s Restaurant. A favorite haunt of politicians and business leaders over the years, Christy’s is the place where, when two-martini lunches were in vogue, they were served. Besides local big wigs, it has seen the likes of Bill Clinton and George Bush Sr. dining there, along with Alonzo Mourning, Michael Jordan, Tiger Woods, Rod Stewart, Robin Williams, Rick Ross, Timbaland, and Gloria Estefan.

It is somewhat surprising then that this icon of the entrenched elite in one of Florida’s oldest cities should be run by an immigrant entrepreneur named Chris Klaic – and that it is being run with the same conservative philosophy that shields it from change. Or is it?

Klaic was born in Croatia and raised in the hospitality industry. His grandfather owned a vineyard as well as a hotel and two restaurants, run by the extended family. He was destined to work in the family business, but one summer visited New York. “When I saw New York, I said, ‘This is it, I’m staying here, I’m not going back.” As for his family: “They did not support it, they cut me off.”

Klaic worked in “dead end jobs” in New York for a few years before moving to Miami, where he got a job working for restauratuer Charles Hauser, first at Christy’s in 1995 and then at Red Fish Grill in 1997 when it opened, afterwards becoming manager for both operations. By 2003 Klaic was Hauser’s managing partner. “When I became manager, I was given some shares of the business, and I bought more over the years. And then the founder Charles Hauser, wanted to retire.” So, in 2020 Klaic bought him out.

Klaic says the secret to Christy’s survival – and success – in a competitive restaurant milieu like Coral Gables comes down to one word: “Consistency,” says Klaic. “Consistency of the product, consistency of the service.” That means a menu that literally never changes. “When you come to Christy’s you know what you are going to get. We never follow the trends, and there have been so many over the years,” he says. “What we serve is who we are.”

That translates into a menu overseen by Chef Francois Morales for the last 30 years, with dishes that could have come from Madison Avenue in the 1950s – oysters Rockefeller, wedge salad, French onion soup, shrimp cocktail, baked Alaska, and their secret-recipe Caesar salad that is so popular customers order it by the pint to take home. Then, of course, there are the steaks: a rib eye, a New York

strip, filet mignon, and that rarity these days, prime rib, all washed down with a classic Manhattan or Old Fashioned.

Klaic says that over the years he’s been approached by investors who want him to start additional Christy’s elsewhere but contends that will only dilute the brand. “I’ve always believed that it’s not about any one person, not about me, not about a famous chef. It’s about the brand, and you have to protect it.” Klaic recalls Hauser telling him, “If I am not here, and you are not here, the brand is still here,’” as well as the location, its traditional red walls, its patterned tin ceiling, its dim table lamps, and its bar right out of the Shining. Klaic has even kept the original chairs, which he reupholstered. “We didn’t want those kinds of smaller chairs that you find in some trendy place,” he says. "We've had a hell of a run for 46 years, and hopefully we'll make it to our 50th anniversary in 2028. Every day is a challange, you have to earn it again and again and again.l

ABOVE TOP: CROATIAN CHRIS KLAIC, OWNER OF CHRISTY’S BOTTOM: A BIRTHDAY CELEBRATION AT THE RESTAURANT

The New Luxury Marquee

REDEFINING MIAMI’S NEW HIGH-RISES WITH GLOBAL AUTOMOBILE AND LUXURY BRANDS

BY AMY POLIAKOFF

Hospitality and luxury branding is the collection of elements that express one’s unique value proposition to a revered demographic. The branding presents a story that reflects an organization’s core values to its customers and clients, typically through the design and quality of the product or service. This now includes luxury branding for Miami high rises.

The phenomenon for branding Miamiarea high-rise condos actually began in the early 2000’s, when new hotels like the W Hotel in South Beach and the St Regis in Bal Harbour began offering residences in addition to hotel accommodations. According to Forbes.com, such branded residences have grown to around 700 globally.

Now, however, luxury residence labelling has transcended hospitality providers to

branding from all types of consumer products, especially from European automotive and clothing designers. “We are a city that is built by continuous waves of immigration. With immigration comes new ideas, comes intellectual capital, comes financial capital,” says Alicia Cervera, Managing Partner of Cervera Real Estate, which has listed over 115 luxury high rise condominiums in South Florida with a total of $16 billion in sales. “In that connectivity comes the new ideas and with that the new brands from around the world.”

In real estate, the first luxury branded building in South Florida was the Fendi Chateau Residences, which opened in Surfside in 2016. This was followed by The Porsche Design Tower, which opened in Sunny Isles in March 2017, the first auto-

motive branded luxury high rise in Miami (the tower, developed by Dezer Properties, offers a private glass elevator that takes you straight to your home.) This was followed with Residences by Armani Casa, which opened in 2019, also in Sunny Isles.

Now the trend has hit downtown Miami and Brickell, with a parade of super tall towers that include the just opened Aston Martin residences, to be followed by Bentley residences and a Mercedes-Benz tower in 2027, and a Dolce and Gabbana tower in 2028. The newly minted Aston Martin Residences is a 66-story skyscraper located on the edge of the Miami River at Biscayne Bay. It is the tallest all-residential building south of New York City. According to Cervera, who is responsible for its sales and marketing, the building sold out over a 7-year development time-period, with most of the units sold 6 months before the project was completed

“You are looking at a limited number of buyers to invest in this type of home, so the ultra-luxury has to be exceptional – and it is,” says German Coto, CEO of G&G Developments, developer of the Aston Martin Residences. “The Aston Martin Residences

If the

brand is on the real

estate then that real estate will and should reflect the core values of that brand...

ALICIA CERVERA, MANAGING PARTNER OF CERVERA REAL ESTATE, ASTON MARTIN RESIDENCES SHOWN OPPOSITE

ABOVE: MERCEDEZ-BENZ RESIDENCES

is a unique proposition not just in Miami but globally. It is the first Aston Martin Venture anywhere in the world.”

Adds Irene Fernandez, the founder of Elite properties Miami which specializes in luxury real estate: “Branded projects like Aston Martin become an important staple in Miami as a status symbol and guarantee when it comes to quality and finishes, interior design, and proper maintenance of the buildings.” For the Aston Martin building even the head of Aston Martin automotive design was involved. Everything down to the door handles and leather used reflected the authenticity of the brand.

“Different brands represent different aesthetics and luxury branding is not just

about slapping a name on a building but making sure that brand is an integral part of the development and design of the building,” says Cervera. “If the brand is on the real estate then that real estate will and should reflect the core values of that brand.”

Next will come residences by German automaker Mercedes-Benz, who with JDS Development Group will complete their 67-story mixed use tower in the Brickell neighborhood in 2027. This first Mercedes branded building in North America will have 791 private homes.

On the fashion branding side, Dolce and Gabbana will join Armani and Fendi with a building at 888 Brickell Ave., set to open in 2028. The building will transpose Domenico Dolce and Stefano Gabbana’s fashion style with Italian residential craftsmanship, including hand-selected Nero Saint Laurent and Camellia Green marble for the façade. Signature dining, lifestyle amenities, and a hotel will be offered along with an onsite Rolls Royce house car. “There is nothing greater than a successful brand that knows and can identify their consumer than to design for that person,” says Cervera. l

SOUTH FLORIDA’S $4 BILLION SECRET

Since the Mendelson family took it over in 1990, Heico has grown into an aviation and aerospace giant

BY DOREEN HEMLOCK / PHOTOS BY RODOLFO BENITEZ

It’s one of most successful companies in South Florida, a family-led business that has been growing by double-digits annually, is beloved on Wall Street, and this year, will near $4 billion in sales, while employing some 10,000 people across the United States and five continents.

Yet few in the general public are familiar with Heico Corp., which has dual headquarters in Broward County’s Hollywood and in Miami. That’s because the fast-expanding manufacturer sells largely to airlines, satellite makers, and aerospace companies, not to retail consumers.

Heico produces replacement parts and components for jets, satellites, and other equipment. It reverse engineers the parts made by brand-name giants like General Electric – and in a rigorous process, obtaining certification for those parts from the Federal Aviation Administration (FAA). It then sells the

THE BROWARD MANUFACURING PLANT IS HIGHLY AUTOMATED AND SOPHISTICATED

parts to customers like Delta Airlines at prices cheaper than the original equipment makers, while earning a solid profit. With those profits, it reinvests to reverse-engineer more parts or buy up other niche parts makers, keeping business compounding year after year.

When the Mendelson family took over in 1990, Heico made just one FAA-certified part in its sole Hollywood factory. Now, it offers more than 200,000 products at dozens of factories worldwide, with hundreds of thousands more items still available to add to its portfolio, executives say. Last year, it completed its largest acquisition yet: the $2 billion purchase of Wencor Group, based in the Atlanta area, which makes complementary products for aircraft, including bearings.

How did a family-led business achieve such remarkable success, with its stock on Wall Street now commanding a market value topping $28 billion? Credit strong business education, attention to detail, family unity, careful vetting before buying companies, trust in managers, and care for employees, among other factors, say the Mendelsons, stock analysts, workers, and others familiar with Heico.

“When we’re on the beach, these guys are on their laptops. They’re hard-working people,” says factory worker Guillermo Evia, who joined Heico a half-century ago, before the Mendelson “guys” came in. “When I began here, if we did $1 million in sales [annually], we had a party. Now, we do $1 million an hour, and some employees are worth millions too,” thanks to Heico stock the Mendelsons put in worker retirement funds, says Evia. “I feel good working here.”

When I began here, if we did $1 million in sales [annually], we had a party. Now, we do $1 million an hour, and some employees are worth millions too...

GUILLERMO EVIA, A FACTORY WORKER WHO JOINED HEICO

50 YEARS AGO, WITH OWNER ERIC MENDELSON

BELOW: HEICO FOUNDERS ERIC MENDELSON (LEFT) AND BROTHER VICTOR WITH THEIR FATHER LAURANS

Chairman of the Board Laurans “Larry” Mendelson credits the same features in weighing Heico’s acquisitions: A venture that is entrepreneurially led, owner run, and has a long-term outlook in a niche business. “It’s all about management,” he says. “It’s all about the people.”

HOW HEICO STARTED

The idea behind Heico came from two brothers, Victor and Eric Mendelson, and their accountant-investor dad, Laurans – all graduates of Columbia University in New York and longtime South Floridians. In the late 1980s while studying and dabbling in investments, Victor saw opportunity in buyouts. He heard about struggling Heico Corp. through a stockbroker. He and Eric approached their father, who agreed to buy up the company’s stock on Wall Street. Soon, the trio took management control. They agreed to make their decisions unanimously and focus on the long-term for future generations.

Like commercial aviation itself, their business was global from the start. German airline Lufthansa became an early buyer of the FAA-certified parts and became an investor, boosting Heico’s credibility.

The Mendelsons focused first on reverse-engineering parts for jet-engines, selling its FAA-certified items at 25 percent to half off the price of original equipment from makers like GE. With little competition because of the rigors of FAA approval, they could draw solid profits of around 15 percent, while still taking care not to gouge

MACHINE PARTS FOR THE AIRCRAFT INDUSTRY NEED TO BE MADE WITHIN STRICTLY CONTROLLED TOLERANCES

BELOW: A SKILLED EMPLOYEE

INSPECTS AND CHECKS PARTS EVEN THOUGH HEICO IS VERY AUTOMATED.

MANAGING OPERATIONS IN 19 COUNTRIES

Today, Heico makes a wide range of products in 19 countries, from jet-engine parts to electronics and airframe components. Its factories span nations as varied as the Netherlands, Thailand, India, Canada, Turkey, and the United Arab Emirates, thanks to its many acquisitions. France is its second largest production center after the U.S. and hosts at least 10 factories, says co-president Eric Mendelson. Being global requires ample travel. Eric Mendelson says the family always traveled a

airline buyers or to take away too much market share to anger the brand-name giants.

“We don’t target the top line” of sales revenue, says Larry Mendelson. “We can do a trillion dollars in sales and make no money. We are focused on the bottom line and particularly cash-flow. That allows us to keep low debt and keep compounding the earnings. It’s the power of compounding that has made us,” he says. In acquisitions, the family also looks for fellow niche companies with strong profits and cash-flow. “And you get that in a protected market, with high barriers to entry.”

lot, “so we’re comfortable in different cultures. And we grew up in Miami, so we get that.”

To expand overseas, the Mendelsons have focused on buying entrepreneurial ventures like their own. They typically let the owner-managers abroad keep a 20 percent stake in their ventures and continue running operations, creating a decentralized network of businesses under the Heico umbrella.

“We didn’t find a greenfield site in a foreign country and just assume that because we’re successful in the U.S. that we can operate overseas,” says Eric Mendelson. “So, we’ve developed partners around the world

that continue to build and grow.” One acquisition in France recently added two factories there. Adds co-president Victor Mendelson: “We let our businesses operate locally. We’re not trying to run them from here. They know how to deal with their environments and governments. We don’t dictate.”

GOING HIGH-TECH IN SOUTH FLORIDA

In South Florida, Heico now employs some 1,000 people, including 200 engineers. Most staffers work at its aircraft maintenance and repair operation, some at its Miami office, and about 100 at its original Hollywood factory. The factory staff has been shrinking, as South Florida costs have spiked and production has become automated. Today, the Hollywood plant uses sophisticated and expensive machinery, including a 3D scanner with powerful cameras that measure the height, width, and depth of parts to be reverse-engineered or inspected.

“We scan parts as big as a car or as small as half an inch [with specifications] more accurate than the area of a human hair,” says factory employee Luis Cuevas, who has worked 20-plus years with Heico, adapting over and over to the latest technology. “Every day is something new.”

Across greater Miami, manufacturing is becoming more high-tech, says Matthew Rocco, president of the South Florida Manufacturers Association. South Florida hosts some 6,000 manufacturing companies that

We scan parts as big as a car or as small as half an inch [with specifications] more accurate than the area of a human hair.. Every day is something new.

employ roughly 100,000 people, according to a 2023 Florida Manufacturing Report by Florida Commerce. Aviation and aerospace hold an outsize share, partly because of Miami’s role as hub for flights to Latin America and the Caribbean, Rocco says.

With automation, many South Florida manufacturers now pay salaries higher than in other sectors, often $70,000 or more per year, says Rocco. The challenge, however, is finding skilled staff. Some trained employees see opportunities in areas outside South Florida where housing and insurance cost less.

“We need more skills training, so companies like Heico can have talent more readily available,” says Rocco. “It will take a stronger joint effort from organizations like ours and colleges to produce skilled workers.”

A WALL STREET DARLING, FEATURED IN FORBES MAGAZINE

Amid the challenges, Heico keeps growing sales and profits, and Wall Street adores it. Forbes magazine featured the Mendelsons in a 2020 cover piece: “The 47,500% Return: Meet The Billionaire Family Behind The Hottest Stock Of The Past 30 Years.” The

article says the Mendelsons have “succeeded in unquestionably spectacular fashion.”

Since then, Heico’s financials and share price have gained handsomely. The company reported a 20 percent gain in net income in the first half of this fiscal year from a year earlier to reach a record $237.8 million. Noted investment group Berkshire Hathaway, led by Warren Buffett, bought a small stake in Heico in the second quarter.

Still, there are questions about the company’s future. How long can Heico keep up double-digit growth, now that it is so big? And can the Mendelsons sustain their family-oriented, entrepreneurial culture as Heico’s global sales top $4 billion?

Larry Mendelson is bullish, at least for the short term. He sees aviation and aerospace continuing to expand worldwide, requiring more replacement parts and components. Plus, Heico has myriad items yet to manufacture. “I’ve never been more optimistic about the future for Heico because of the strength and size of the company and its market power,” says the industry veteran. “In the current fiscal year, I feel highly confident we will be able to grow at our target of 15 to 20 percent bottom line.” l

HEICO EMPLOYEE LUIS CUEVAS USING THE SOPHISTICATED 3D SCANNER TO REVERSE ENGINEER PARTS.

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Digital Universe Mastering the

INTO THE FUTURE WITH SPACIAL AND GEOLOCATION COMPUTING

With an army of offshore talent, Shokworks seeks to de-risk tech startups – and take them to the next level

BY J.P. FABER

When most people think of offshoring – including the new buzz word of nearshoring – they are talking about manufacturing, and the trend to relocate factories and workers from Asia to the Americas. For the founders of Shokworks, a Miami-based tech consultancy and early-stage investor, offshoring means something else. It means a constellation of some 200 computer engineers and programmers scattered across South America, primarily in Colombia, Venezuela and Argentina.

“Because the costs are so high here, at the end of the day [offshoring talent] can allow you to use hybridized tech teams, and restructure your costs to become much more attractive,” says Daniel Laplana, who co-founded Shokworks with his brother Alejandro. “All the top companies, even Microsoft, are doing it. The business models don’t make sense when you’re paying a guy 300 to 400 thousand [a year] in San Francisco when you could hire, you know, a team of 20 or 30 at Shokworks.” Adds Alejandro: “We said, ‘Something’s broken here.’ And now everyone’s [seeing] nearshoring as a solution to re-structure your cost model and actually become profitable, unlike 90-plus percent of tech companies that are unprofitable.”

The offshoring of tech talent is just one of the strategies the

Laplana brother have used in their own scrappy struggle to survive and ultimately thrive. Today their firm has a roster of clients that would make any rival jealous, from Procter & Gamble and Bitcoin pioneer Compass Mining to Fox Sports and Pitbull’s social music platform Unitea. Defining themselves as a “premier ROI-focused product development & design firm,” they specialize in accelerating the growth of young, scalable companies or leveraging established brands into cutting-edge technologies like AI and web3.

With new-to-market startups, Shokworks supplies everything from capital to operational advice, often taking a stake in exchange for either cash or services provided. “So, if you want to raise money, that’s where we engage,” says Alejandro. “And if we find we have a solid working relationship where we add value to each other far beyond [the] product, that’s where Kevlar, our venture capital fund, gets invested… We’re an engine of growth, a bespoke solution for startup and growth.” According to its founders, Shokworks in the last five years has generated over $1 billion in cost savings, revenue, and direct investment for its roster of 40+ clients, at the same time building a portfolio of private equity investments worth between $30 million and $40 million.

SHOKWORKS FOUNDERS: BROTHERS ALEJANDRO AND DANIEL LAPLANA

CASE STUDY: COLOMBIAN FOOTBALL FEDERATION

Some of Shokworks projects are easier for the technology challenged to understand than others. Take their work for the Colombian national soccer team, in partnership with 2 Way Sports and executed in 2018. The aim was to create an app that would engage fans and allow them to follow all its matches in CONMEBOL and FIFA tournaments. The objective was to allow real-time tracking of the team’s games abroad, keeping track of every match and helping fans experience the thrill of supporting their team – wherever they were. Games were live streamed, with player profiles and field positions. To accomplish the mission, Shokworks set up a team that included a project manager, backend and frontend developers, infrastructure engineers, security testers, a business analyst, and programmers responsible for user interface and user experience, among others. The result, measured through to the 2018 World Cup, was more than a million downloads, two million users, and $10 million in revenue.

How Shokworks got to where it is today is as intriguing as the panoply of services the firm offers, and the marketing campaigns that won its principals recognition and acclaim in Miami’s tech ecosystem.

A ROUGH LEARNING CURVE

When Alejandro and Daniel first tried their hand at the business of designing mobile apps for small U.S. companies, they worked with software engineers in Europe. Having immigrated to Miami from Venezuela as teenagers, they had attended college in New York and Washington, DC, before returning to South Florida to start an app-building company in 2015. “We were two businessmen with MBAs, but technology and engineering were not our forte,” says Daniel. When their overseas partners embezzled company funds, their Miami-based company folded, sending the brothers back to Venezuela in search of a less expensive base of operations. “We had to lick our wounds and start from scratch,” he says.

In Caracas, the Laplanas’ first client was the Colombian National Soccer Team, for which they created a mobile app. It was a huge success and taught them that the future was not about apps, per se, but about client engagement. “We were creating very engag-

ing social media apps, or super apps, where fans could interact, have chat walls, and a bunch of cool stuff,” says Daniel. Within a year, their team of five had established a foothold in the Latin American sports market, setting the stage for their return to Miami in 2018 to form Shokworks. It is a name that sounds like it’s all about disruptive technologies – which it is – but is actually a play on the words Skunkworks, a secret high-tech laboratories originally developed by Lockheed Martin, and Shokunin, a Japanese concept that alludes to generational master artisans.

Developing a growing network of Latin American programmers, the new company went beyond mobile apps, looking for young firms with significant IP potential they could scale into meaningful enterprises. “We became a company builder working for early-stage companies,” says Alejandro, “an engine of growth for companies looking for a product focused strategy that could address the areas of opportunity and constraints in their businesses.” If that meant helping raise capital, so be it. But far more likely, especially in the early days, was Shokworks involvement in planning and providing engineering and programming talent in lieu of cash, frequently leading to equity positions in client companies.

“We’re in the trenches with these founders on day-to-day product strategy, product enhancement, customer acquisition, scaling – you know, understanding where the necessary burn and the dollars invested need to go toward product development,” says Daniel. “And that allows us to have meaningful stakes in these companies – to have actual skin in the game and be a little bit more in control of our own destiny than traditional VCs.”

In terms of industry verticals, “we’re industry agnostic,” says Alejandro. Among their clients, “you’ll find a wide array, anything from artificial intelligence to geospatial computing, to blockchain, fintech, web3 and so forth.”

Some projects are less esoteric, and harken to their early success with social engagement. One of the first Miami clients was Unitea, a social media “music community platform” that had been launched by EDM icon Claude VonStroke and backed up by Pitbull and others in the music industry. After a bad experience with another consulting firm, Unitea turned to Shokworks. Between cash and in-kind services (engineering) Shokworks ended up investing more than $2 million into Unitea before turning the company around by providing “a better fan experience for artists and fans.”

Among other strategies, that meant dramatically increasing fan engagement before, during, and after music concerts – offering rewards and points for those who engage for longer periods, with digital tokens that could provide greater access for fans, like putting them in a raffle to win a hot air balloon ride with Drake or Bad Bunny.

“Let’s use a local event, like the Ultra Music Festival, as an example,” says Daniel. “We know it’s coming up, so we share information with you on the app, like the entire itinerary. And then we say, ‘Hey, what are we going to wear guys?’ So, they start creating shots within the app, like ‘I’m think we’re going to wear this neon thing,’ or ‘Let’s go together, let’s bring our files and start listening to music’… At the end of the day fans can engage with artists, and artists with their fans, like never before.”

Shokworks also delivers engage-to-learn campaigns for customers before, during, and after each event, in partnership with big brands like Proctor & Gamble or experiential agencies like Dentsu. Beyond just marketing, they follow up with charitable programs that ultimately endear consumers to a brand. With P&G, for example, they are helping create a program for less fortunate Hispanic Americans called “Vibes for Smiles.”

“It ranges from teaching kids about dental hygiene, kids from

We became a company builder working for early-stage companies. An engine of growth for companies looking for a product focused strategy that could address the areas of opportunity and constraints in their businesses.

ALEJANDRO LAPLANA, RIGHT, CEO OF SHOKWORKS, WITH BROTHER DANIEL AT THEIR MIAMI OFFICE

lower income families that may not know, to walking them through the pillars of a great education, doing a lot of scholarship work through programming,” says Daniel. “You start gamifying experience by doing, like, quizzes – short games that can capture their attention, so you can retain them for as long as possible. You entertain them, and then while they’re in the entertainment, you educate them.”

For their work with community music platform Unitea, Shokworks took an equity position, just as they did in Compass Mining, commonly referred to in media as “the AirBnB of bitcoin mining." Alejandro describes it as "the new standard in bitcoin mining as a service, with the power to allow anyone on the planet to mine bitcoin, removing a number of barriers to entry." When Shokworks started working with Compass three years ago, the firm had just raised a seed round and 18 months later generated more than $750 million in revenue. “Shokworks brought in a team of 35 engineers to revamp the whole front end and back end of the web site, to make it more user friendly. Compass is now the second largest private bitcoin marketing company in the world.” During this time, Kevlar invested over $1 million in Compass Mining, and Alejandro sits

on both the company's board of advisors and their compensation committee.

For another client, Internxt (see sidebar below), Shokworks has also become more than just technology advisors, investing over $2 million with Kevlar in this promising Spanish startup. Kevlar joins other notable investors likeTelefonica, Angels Capital (from Juan Roig, president of supermarket chain Mercadona), Balaji Srinivasan (a16z and Coinbase) and Banco Santandar. “With Internxt we are developing the next generation suite for privacy-centered cloud services. So far they have onboarded over 1 million users and generated over $3 million in revenue.”

“One thing I’ll say about Shokworks is that they’ve been an incredible partner to us the last few years,” says Josh Pendrick, CEO of client Rypplzz (see sidebar). “On the product development side, we’ve been able to save a ton of money and actually get to certain stages of the product and to get to market faster – particularly with the spatial browser product that we’ve built, which is called Lightplay.”

CLIENT CASE STUDY: INTERNXT

Internxt is a Spanish computer company that offers encryption of information on the client side, without storing the decryption key. It creates a digital world that enables user privacy, and as such has been recognized by the Spanish Data Protection Agency. With 30 employees, it is developing post-quantum encryption technology, which will provide privacy and security against the power of post-quantum computing – even as this technology has yet to be realized. Like the concept of quantum physics, quantum computing uses subatomic particles, such as electrons or photons; in theory, quantum computers can solve problems that are intractable on classic computers. With strategic and operational advice from Shokworks, the firm in July raised €1.4 million Euros ($1.56 million) from Spain’s Centre for Technological Development and Innovation (CDTI), part of the Ministry of Science and Innovation. The company’s current valuation exceeds $44 million.

CASE STUDY: RYPPLZZ

Rypplzz is a stealth technology firm offering patented spatial computing and geo-location with monitoring capabilities, already deployed with the Tucson Convention Center and MGM Resorts & Casinos. Their product LightPlay is an app that creates a digital space for users to share their experiences on a map and to express themselves freely. Users can “celebrate life, love, laughter, happiness and abundance by watching real-time, uncensored events from around the world,” says their web site. The team provided by Shockworks included a UX/UI designer, a devOps leader, a project manager, backend developers, android team, iOS team, and a testing team. They helped design sections of the app – user registration, user profile, map browsing, notifications sections. Rypplzz’s other products include Interlife, which converts air space into addressable 3D cubes and enables users the ability to deploy interactive digital files to precise 3D coordinates of physical space. These objects interact with phones or IoT devices and dynamically respond to triggers or rules.

THE NEXT BIG THING

Now Shokworks is entering the life cycle of startups with their latest product, the Idea Stress Test Simulator (ISTS), which performs a deep dive into the validity of a new idea. It does this through a 9-step process that begins with market research and competitive analysis, then moves through a series of tests that include user empathy (translation: is there a market?), user stories (translation: focus groups), cost analysis, wireframes (translation: product flow charts), UX/UI (user experience and user interface), and experimental product design and testing. In layman’s terms, it guides the client through idea development in 75 days – to test whether the idea has a chance of success, based on the sobering statistic that nine out of ten startups fail, a third of them because there is no market for the product.

“We focus test these ideas to see if they have legs or not. This is all about de-risking the entrepreneurial journey,” says Alejandro. “Everything a normal person would do in a year or a year and a half, we compress through our know-how to 75 days. After the program, you decide whether to double down, to pivot or just terminate. And companies that pass the test, so to speak, use that distinction to raise capital.”

Some of the companies that have used ISTS are EPX, a non-fungible token (NFT) company which then raised $4.5 million in seed capital; alfred pay, an app that converts crypto currency to cash which then raised $1.5 million in seed capital; and troop, an investment stewardship app that raised $4.3 million in seed capital and now had more than 10,000 active users.

The next step for Shokworks is to transition into an AI-first technology company, adapting what they have delivered to startups for enterprise customers and leveraging their domain expertise to help them complete exciting digital transformations. By opening a new center of excellence in Medellin, Colombia, and securing partnerships with ServiceNow, AWS (Bedrock), Google Cloud (Gemini), and Microsoft (Azure), Shokworks continues to boldly move forward with technology and industry demands.l

JOSH PENDRICK, CEO OF RYPPLZZ, WHO PARTNERED WITH SHOKWORKS TO DEVELOP THEIR LIGHTPLAY APP

Guatemala Special Report

Miami’s

Trade Relationship with its Central American Neighbor

GLOBAL MIAMI

South Florida is so close to Guatemala that it’s easy to travel. Sometimes I go to Guatemala early in the morning and come back later at night...

THIS PAGE:

CARLOS MENCOS, PRESIDENT AND CEO OF DEKA TRADING (RIGHT)

PUERTO SANTO TOMAS DE CASTILLA ON THE ATLANTIC

Guatemalan Resurgence

Miami’s trade and investment links with Central America’s textile king

BY YOUSRA BENKIRANE

Since its founding in 2007 in the bustling logistics hub of Doral, the Deka Trading company has been devoted to one clientele – the more than one million Guatemalans living in the United States, including 150,000 in Florida and 70,000 in South Florida. Today, with warehouses in Guatemala and Doral near Miami International Airport, it generates around $20 million in annual revenue, consistently importing shipping containers filled with 500,000 pounds of Guatemalan goods each week. These shipments, arriving through PortMiami and Port Everglades, include products such as breads, pasta sauces, spices, condiments, chips, and beverages, all bringing a taste of Guatemala to American supermarkets.

“I came to the US thirty years ago and I remember that I saw something in the supermarket. And I said, ‘Oh, this is from Guatemala. I have to get it!’ I took maybe twenty units of the same thing because I didn’t think I could get it again,” says the President and CEO of Deka Trading, Carlos Mencos, “We wanted to change that, so that now when you go to the supermarkets in some areas, you see a lot of Guatemalan products.”

Guatemalan imports to the U.S. go beyond food and beverages, however. The leading imports are knit sweaters and knit T-shirts, more than a half billion dollars of which came through the Miami Customs District (South Florida) last year. And in the other direc-

tion trade is equally robust, with telephones, computers and cars totaling $427 million out of a total of $1.8 billion in exports in 2023.

With daily direct flights, strong port service lines, proximity ensuring short transit times, and cost-effective shipping options, doing business between South Florida and Guatemala has proven so strategically advantageous that the Central American nation is now the Miami Customs District’s 8th largest trade partner, with bilateral trade reaching $3.38 billion in 2023 and $1.75 billion in the first half of 2024. “South Florida is so close to Guatemala that it’s easy to travel. Sometimes I go to Guatemala early in the morning and come back later at night,” says Mencos, “When we have a problem sending things back because of compliance issues, we can ship it back, fix the issue, and re-export it. Being in Miami makes it easier to work.”

THE PILLARS OF TRADE

A significant driver of the trade relationship between South Florida and Guatemala is the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR), a free trade agreement between the United States, the Dominican Republic, and five Central American countries: Guatemala, El Salvador, Honduras, Nicaragua, and Costa Rica. Signed in 2004 and implemented in stages starting in

SUPERMARKET GOODS IMPORTED FROM GUATEMALA

2006, CAFTA-DR aimed to reduce or eliminate tariffs on a wide range of goods and services, thus promoting increased trade and investment among member countries.

One of the key benefits of CAFTA-DR is preferential access, which allows participating nations to export specific products to the U.S. with reduced tariffs or even duty-free, making their goods more competitive in the U.S. market. This has been especially beneficial for Guatemala’s textile and apparel industries, where manufacturers can produce goods at lower costs and export them more efficiently to the U.S. market. The agreement also creates opportunities for U.S. companies to access Central American and Dominican markets under favorable conditions, fostering economic growth and strengthening trade ties across the region.

“One industry that has greatly benefited from this agreement is the apparel and textile sector,” said Natalia Samayoa, the Trade Commissioner for the Consulate General of Guatemala in Miami. “You might not know this, but much of the clothing sold in stores like Target, Walmart, and other U.S. retailers is actually manufactured in Guatemala. For example, many NFL jerseys are produced in Guatemala. This makes the country a strategic location for companies from around the world, particularly from Asia – such as South Korea and Southeast Asia – who have invested in setting up factories here to manufacture clothing for export to the U.S.”

The result has been a growing tide of Guatemalan imports to the U.S. in recent years. Total imports reached $1.82 billion in 2022, marking an 18.4 percent increase from the previous year. In 2023, they totaled $1.58 billion – a 13.1 percent decrease from 2022 but still above pre-pandemic levels, and with every indication that 2024 will show a strong rebound; the first half of 2024 has already seen $798 million in imports. In addition to textiles, ag products are ringing in big numbers. As a traditionally agricultural-based

One industry that has greatly benefited from this agreement is the apparel and textile sector...

economy, the geographic proximity between Guatemala and Miami allows for a quick turnaround of these perishable goods. For 2023, imports of melons were at $153 million, legumes at $125 million, and bananas at $83.1 million.

In the Miami Customs district, Port Everglades and PortMiami are the primary recipients of these imports, as well as the leading ports for exports to Guatemala.

“Port Everglades, in general, is extremely Latin American centric. And if you look historically at our top 10 trade partners, there are always countries within Latin America and the Caribbean. Our very steady trade relationship with Guatemala is strengthened by our proximity,” explains Joseph Morris, CEO and Port Director at Port Everglades. “We’re so close to them – just a three-day transit –that it shapes the opportunity for trade. On the other hand, if you’re importing bananas from the Philippines, you’re looking at almost 30 days of transit, with increased uncertainty. Our geographyis incredibly advantageous to the flow of goods with Latin America."

Exports to Guatemala through South Florida’s ports are also rising, reaching $1.97 billion in 2022, marking an 18.7 percent increase from the previous year. Like imports, however, they slipped slightly in 2023 – totaling $1.8 billion, an 8.5 percent decrease from 2022.

NATALIA SAMAYOA, ABOVE, THE TRADE COMMISSIONER FOR THE CONSULATE GENERAL OF GUATEMALA IN MIAMI

BELOW: TEXTILE WORKER IN GUATEMALA

• #1 U.S. international freight hub

• #6 international freight airport in the world

• Leading airport for distribution of perishables

• CEIV pharma distribution hub

• 169 belly cargo / 108 freighter destinations

• FTZ magnet site

• $74.6 billion in CY 2023 total trade

• 82% of air imports between Latin America/Caribbean region & U.S.

GDP: $94.7 billion (2022)

Population: 18 million

Area: 108,889 square kilometers

Capital: Guatemala City

Other Major Cities: Quetzaltenango, Escuintla, and Antigua

Major Ports: Puerto Santo Tomás de Castilla (Atlantic) and Puerto Quetzal (Pacific)

Escuintla

Currency: Guatemalan Quetzal (GTQ).

Key Industries: Agriculture (sugar, coffee, bananas), manufacturing (textiles, apparel), mining (nickel, gold), and tourism.

Language: Official language is Spanish, though over 20 indigenous languages are spoken.

Sources: World Bank and International Monetary Fund; U.S. Census Bureau

Puerto Santo Tomás de Castilla

Guatemala City

Puerto Quetzal

Our very steady relationship with Guatemala is strengthened by our proximity ...

The first half of 2024 is already seeing a rebound, however, as exports rose 8.49 percent from the same time last year, reaching $953 million. Top exports in 2023 included telephones at $217 million, computers at $154 million, cars at $56.4 million, industrial printers at $35.8 million, and motor vehicle parts and accessories at $32.4 million.

BEYOND GOODS

There is one crucial aspect of trade that is not reflected in the statistics: services. While import and export figures provide a clear picture of goods traded, they often overlook the significant role services play in the economic relationship between Miami and Guatemala. This sector includes activities like financial services, consulting, and tourism, which contribute substantially to the economic ties between the two regions.

“We’ve become a major exporter of services to Guatemala. Many call centers, which primarily serve U.S. companies, have set up operations there. Guatemala’s familiarity with American culture and its neutral accent makes it an attractive destination for these businesses,” says Consul General of Guatemala in Miami Rosa Maria Merida Arias De Mora, “Business process outsourcing (BPO) companies are establishing themselves in Guatemala due to the

JOSEPH MORRIS, RIGHT, CEO AND PORT DIRECTOR, PORT EVERGLADES

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country’s young, skilled workforce. With a population of around 18 million, approximately 60 percent are of working age. So, we have a young population ready to work.”

Guatemala already has the largest economy in Central America, with a gross domestic product (GDP) of $94.7 billion in 2022. The country has experienced consistent economic expansion, with an estimated growth rate of 4 percent in 2022, a trend that has continued. Remittances, primarily from the U.S., increased by 9.8 percent in 2023, reaching $19 billion, up from $18 billion in 2022.

According to the Consulate, the Guatemalan government is implementing a strategy to increase English proficiency among its workforce, aiming to better capitalize on opportunities in sectors such as remote work. “Why not consider hiring someone in Guatemala, where the efficiency is high and the time zone is closer to the U.S., compared to hiring from the Philippines, which has a 14-hour time difference and sometimes challenging accents? This shift could position Guatemala as a key backup office and IT services hub for U.S. companies,” says Samayoa.

South Florida, and the U.S. in general, is also seeing a signif-

We’ve become a major exporter of services to Guatemala. Many call centers, which primarily serve U.S. companies, have set up operations there.

EXPORT PRODUCTS 2023

IMPORT PRODUCTS 2023

Source: USA Census Bureau; the Observatory of Economic Complexity

The Miami Customs District includes Miami-Dade, Broward and Palm Beach counties

ROSA MARIA MERIDA ARIAS DE MORA, BELOW, CONSUL GENERAL OF GUATEMALA IN MIAMI

icant influx of talent from Guatemala. Many U.S. companies are turning to countries like Guatemala, Colombia, Costa Rica, and Mexico to hire skilled professionals for their operations. Guatemala, in particular, benefits from a strong educational system, English proficiency, and a cultural alignment with South Florida, making it an attractive option for U.S. firms looking to expand their workforce. “The services sector is like the hidden trade giant. We see a lot of talent being recruited from Guatemala,” emphasized Alex Guzman, Customer Service Manager for Interport Logistics.

Previously, call centers and other service roles were commonly outsourced to China or India. Now there’s a noticeable shift toward hiring from Mexico, Guatemala, and Colombia – aligning with the broader trend of nearshoring. U.S. companies in general are looking to set up operations closer to home, from Mexico down to Panama, to mitigate risks associated with long supply chains and geopolitical uncertainties. The pandemic highlighted the challenges of relying on distant production hubs, with long lead times and high costs. Consequently, Guatemala has emerged as a strategic nearshoring partner, with U.S., European, and Japanese firms investing to reduce

ABOVE

production cycles and ensure just-in-time delivery.

This is especially relevant for companies manufacturing private-label products. For example, a U.S. company might hire a Guatemalan firm to produce plantain chips under its brand, benefiting from Guatemala’s competitive pricing, skilled workforce, and adherence to regulations. “If you were in the logistics industry during the pandemic years, you saw yourself – companies like us – and our customers having so much trouble bringing goods from Asia,” says Guzman “There were high costs, lead times were like 60-70 days, and you really couldn’t count on having a good plan for your business. We learned from that situation, and now customers are looking toward Guatemala, for example, for nearshoring opportunities.”

The U.S. has long been an important partner for Guatemala. According to the 2022 Coordinated Investment Survey published by the IMF, approximately 20 percent of foreign direct investment in Guatemala originates from the United States.

TOP LEFT: TEXTILE FACTORY IN GUATEMALA

BOTTOM LEFT: SITTING AT HIGH-ALTITUDE, GUATEMALA CITY

RIGHT: PREPARING BANANAS IN GUATEMALA FOR EXPORT

MADE IN GUATEMALA

One significant area of U.S. investment is Guatemala’s manufacturing sector. Companies like VF Corporation, a leading global apparel and footwear manufacturer, have expanded their operations in the country. Such new facilities not only boost local employment but also enhance Guatemala’s role in the global supply chain. This did not go unnoticed by American retail giant Walmart, which has announced a significant $1.3 billion investment in the region over the next five years – $700 million allocated for Guatemala and $600 million for Costa Rica. Although exactly how the money will be invested is yet to be disclosed, Walmart did announce plans to expand its store network in Guatemala and boost its logistics capabilities there. This includes the introduction of new in-store services such as facilities for sending and receiving remittances, which play a crucial role in the economy.

The coming years are poised for a surge in investment, highlighted by Synergy Industrial Park, an ambitious new industrial park in Guatemala’s third-largest city Escuintla. The project is set to transform 47 million square meters of sugar cane fields into a new urban complex featuring distribution centers and industrial

warehouses. “We were inspired by Guatemala’s potential to attract nearshoring investment,” said Alejandro Guillén, Industrial Park Business Manager. “Nearshoring is a reality, not just a trend. A new epicenter of manufacturing and logistics is emerging in Mexico and Central America [and] we believe in Guatemala.”

Synergy Industrial is a collaboration between two leading entities: Spectrum, an American real estate developer with over 27 years of experience, and Guatemala’s Grupo Pantaleon, a major player in sugar production. Grupo Pantaleon, with its extensive operations in Mexico, Guatemala, Nicaragua, and the United States, employs over 15,500 people and produces 1.201 million tons of sugar and related products annually. As a leader in Central America and among the top five in Latin America (excluding Brazil), Pantaleon ranks among the top ten sugar producers globally, exporting to over 40 countries.

The new development aims to spur economic growth by creating a business hub and generating employment. The first phase of the project, launched in 2023, includes the completion of infrastructure with power generation, fiber optics, and water services. Part of the industrial

TOP: PUERTO QUETZAL ON THE PACIFIC COAST

ABOVE: SYNERGY INDUSTRIAL PARK IN ESCUINTLA, FOR NEARSHORING

Cruise Capital of the World Global Gateway of the Americas

park is already operational and housing companies like PlastiMax, a packaging company for major corporations like Pepsi, alongside international firms from Mexico, Colombia, and Japan. “And the main market is Central America and the United States for those companies,” says Guillén. “We are currently negotiating with 70 percent international and 30 percent local companies. Those 70 percent come from United States, Mexico, South America, Europe, and Asia.”

Designed by global architecture firm Gensler (headquartered in San Francisco, California and ranked the largest architecture firm in the world in 2024), the Park spans 500 hectares and will offer a Free Trade Zone, high-quality services, and competitive prices. The Park also plans to feature housing, hotels, commercial spaces, universities, hospitals, entertainment, etc. “We are creating a new epicenter of opportunities, driving Guatemala’s transformation from rural to urban,” said Guillén.

Despite the overall positive outlook, there are challenges to consider. “We do have some challenges in Guatemala, particularly in developing more infrastructure like ports, airports, and roads, which we are lacking, and that makes our companies less competitive in the U.S. or global markets,” says Waleska Sterkel de Ortiz, Executive Director of the American Chamber of Commerce Guatemala. “However, we have been working closely with not just the private sector, but also the public sector, on various projects to address these issues. Right now, we are working on improving the ports and exploring new public-private partnerships.”

Guatemala’s current port infrastructure, crucial to the country’s trade and economic activities, also faces significant challenges. The main ports – Puerto Santo Tomás de Castilla on the Atlantic and Puerto Quetzal on the Pacific coast – are essential gateways

We do have some challenges in Guatemala, particularly in developing more infrastructure like ports, airports, and roads, which we are lacking...

DIRECTOR

for imports and exports. However, these ports are operating at near capacity, and the aging infrastructure struggles to keep up with the demand. Congestion, outdated facilities, and limited expansion capabilities hinder the efficiency of these ports, making it difficult for Guatemala to fully capitalize on its strategic advantages.

There is a concerted effort to turn things around. The relationship between Guatemala and its trading partners, particularly the United States, remains robust, driven by the understanding that mutual growth is key. “The relationship is extremely mature. But as they grow. We grow. You know, the ebbs and flows of international commerce,” says Robert Barceló, Senior Manager for Business Development at Port Everglades. “I recently met with the new President of the Board of Directors for the Port Authority [in Guatemala] and he’s very committed to turning the ports around, making it more productive.”

The ongoing focus on infrastructure will not only help Guatemala keep pace with its competitors but also ensure that its economic relationships, particularly with the U.S., continue to thrive. In the meantime, Guatemala’s geographic location, coupled with its favorable economic conditions – including stable debt levels, a strong currency, and numerous free trade agreements – continue to make it an attractive destination for U.S. and international firms. l

WALESKA STERKEL DE ORTIZ, ABOVE, EXECUTIVE

OF THE AMERICAN CHAMBER OF COMMERCE GUATEMALA

MAYAN RUINS AT TIKAL: TOURISM IS STILL IMPORTANT FOR GUATEMALA

reasons to invest in Guatemala

Track record of macroeconomic stability

Direct market access to the United States and Mexico

Availability of young and skilled workforce

Competitive & renewable energy

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Free trade zones with attractive incentives

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For me, it’s an underlying sense that we all have a responsibility to try to bridge meaningful connections between people who are in pursuit of common cause or impact... It brings me great joy to see good people come together.

SAIF ISHOOF, CEO OF LAB22C, INSIDE THE SPACELAB AT THE FROST SCIENCE MUSEUM

CONNECTOR IN CHIEF

Saif Ishoof and the Quest to Create a Global Technology Hub

BY J.P. FABER

It is a Thursday evening in September, and a group of about 150 people from the world of high-tech Miami – entrepreneurs, venture capitalists, software engineers, government officials, programmers, educators – have assembled on the 16th floor of the Padron building of Miami-Dade College. Unlike the cluster of downtown Miami skyscrapers in the distance, which sparkle as the sun sets, the Padron building is the only high-rise in its neighborhood of Little Havana. So, its views are unrivaled in every direction.

It is a fitting platform for the speaker and host of the night, Saif Ishoof, the humble but ebullient proselytizer for the vision of a New Miami, a city of technological innovation and aspiration, where ideas can blossom in a DNA of opportunity. The evening’s event is the third annual Moonshot Awards, honoring various South Florida leaders in innovation.

Almost everybody in the room has been touched by Saif (which rhymes with “life”), who has by serendipity and quiet persistence become what sociologist Malcom Gladwell would call a connector – individuals who change the world by spreading ideas and trends through a wide social network of strategically placed people. The guests range from young inventors with startups to seasoned founders of billion-dollar corporations. The head of innovation for

eMerge Americas is there, as is the head of the federal agency for small business acceleration, the co-manager of the Miami office for the billion-dollar managed asset fund Blackstone, and the Miami executive for global investment management firm Millenium. All of them know Saif, and many are in Miami because of him and the connectivity he has applied to Miami’s burgeoning technology scene.

The lead winner for the evening is Exowatt, a company that Saif’s consulting firm Lab22c – the host of the Moonshot event – helped integrate into the Miami tech ecosystem. Exowatt won the Moonshot Award for developing a revolutionary approach to collecting solar energy, a modular system that uses a heat battery to store and dispatch power throughout the day, unlike traditional solar panels that convert sunlight directly into electricity. In April, Exowatt received a $20 million seed round from Miami-based venture funds a16z and Atomic, and OpenAI’s Sam Altman.

The second winner of the night was John Wensveen, who won the eMerge Americas Convener Award. Wensveen was, until just recently, the Chief Innovation Officer at Nova Southeastern University in Fort Lauderdale, and executive director of its Levan Center for Innovation, which has launched 200 South Florida startups through its incubator programs. Wensveen accepted the award in a

THE ANNUAL MOONSHOT AWARDS AT MIAMI-DADE COLLEGE

live stream from Strasbourg, France, where he is now president of the International Space University. Wensveen met Saif nine years ago when he was new to Miami and just starting as Vice Provost at Miami Dade College. They met through Miami's Academic Leaders Council, “and that’s how we became connected,” he told Global Miami Magazine. “We became pretty much instant friends, because we had similar goals of where we thought Miami could go… It’s the Saifs of the world that are really creating awareness….”

The evening’s third winner was for the Artemis Award: Chester Ng, one of the co-directors of Atomic, a venture fund now based in Miami and San Francisco which invests in companies they build from the ground up. Ng’s partner and company founder Jack Abraham was “patient zero of the Miami migration, because he landed in the summer of 2020, in the heart of the pandemic, and never went back to San Francisco” where the company was founded.

“I was originally introduced to Saif by Mayor Suarez, when the mayor famously opened up his direct messages [‘How can I help?’] on Twitter,” Ng told Global Miami Magazine. “My wife and I were kind of half seriously considering the move here, so we visited in April 2021…. [the mayor] introduced me to Saif who quickly invited me to have coffee in Coconut Grove, at Panther coffee, and we walked and talked. And he was instantly, you know, just incredibly helpful and insightful.”

Saif ended the evening with one of his trademark odes, that building the technology ecosystem in Miami is entirely about collaboration. “For me, it’s an underlying sense that we all have a responsibility to try to bridge meaningful connections between people who are in pursuit of common cause or impact.” And that common cause: to make Miami a global center for technology and innovation.

THE MAKING OF A TECH CONNECTOR

Saif Ishoof’s tale is one of those quintessential stories about Miami the melting pot. Born in Guyana, his family moved to Miami when he was two years old. His father had a business that managed agriculture services for sugar and rice in Central America and the Caribbean, and Saif worked for the company after studying at the Georgetown School of Foreign Service in Washington, DC. After a year at the family firm, he then attended law school at the University of Miami but found it was not his calling.

“I was always fascinated by technology, specifically software,” says Saif. “So, when I was in law school, I started to dream up this idea for a company that would service agricultural businesses like the ones my dad worked with. I started the company as soon as I graduated.” His firm, located near UM, was an early vendor management software company. “That was my first foray into being an entrepreneur at the at the age of 24 and 25.”

Saif sold his software system to one of his largest clients and went back into the family business for a few years. But he remained, he says, “embedded in Miami’s innovation ecosystem.” Those were very early days for South Florida’s tech economy, consisting mostly of the remnants of the IBM campus in Boca Raton and Motorola’s campus in Broward County, as well as a handful of Latin American-focused tech companies. “The Miami ecosystem was very small, and I knew a lot of the players,” says Saif.

Feeling “a call to service,” Saif was then hired as the executive director of an education non-profit called City Year Miami, a domestic version of the Peace Corps focusing on the high school dropout crisis. Miami Realtor Tere Blanca, who was finishing her stint as chair of the Beacon Council at the time, recalls meeting Saif the evening when she passed the baton to the new chair. “As the program ended and I was walking out of the auditorium, Saif was waiting at the door. He said, ‘Miss Blanca, you don’t know who I am, but my

We became pretty much instant friends, because we had similar goals of where we thought Miami could go… It’s the Saifs of the world that are really creating awareness….

JOHN WENSVEEN, A WINNER AT THE MOONSHOT AWARDS

name is Saif Ishoof, and I’m waiting for you because you’re going to be the next chair of the board of City Year Miami.’ I said, ‘Young man, you’re right, I don’t know who you are. And I don’t know anything about City Year Miami, but I have a feeling I’m going to learn.’” Six months later, says Blanca, “I joined the board and then became chair, and to this day, I continue to support the program.”

That was in 2010, and Blanca remains a steadfast Saif fan. “He has great vision for a lot of different opportunities ahead of us in our community, and is a very effective networker,” she says. “He’s doing a great job promoting not only the tech ecosystem, but also our region, and Miami in particular, as a place where entrepreneurs can succeed.”

After six years at City Year Miami, Saif became Vice President of Engagement at FIU, which gave him experience coordinating public-private partnerships and working to develop what he calls “the human capital ecosystem.”

Then the pandemic hit, and corporations of all types, including tech founders and investors, started moving to Miami, following Mayor Suarez’s “How can I help?” tweet to Silicon Valley. “Mayor Suarez called and said, ‘Would you be interested in playing a support role? Because we’re getting all these companies and investors that are moving here,’” Saif recalls. FIU and the city created a

partnership that “lent” him as an advisor to the mayor; he quickly co-created Venture Miami, a city economic development agency to help relocate tech companies.

After a year with the city Saif went back to the private sector and launched Lab22c (which stands for Laboratory for the 22nd Century), a management consultancy for tech firms, where for the last three years he has become the Miami technology’s ecosystem Connector in Chief. As such he is constantly in motion, a peripatetic proselytizer for the new Miami.

“He covers more ground in a day than most people do in a month,” says Caryn Lavernia, vice president and senior partner at Lab22c and a member of Saif's team for over 16 years. “On any given day, he’s doing a mix of community events. So, he’ll go to a chamber [of commerce] breakfast, and then to an Orange Bowl committee lunch. All meals are kind of in community, and then he’s meeting with our clients,” she says. “Sometimes that is a one-to-one mentorship with a founder, or it’s introducing a client to a prospective partner.” Saif also has a reputation for never saying no to people looking for advice. “Let’s say it’s a student he worked with at FIU eight years ago who needs a little bit of mentorship time. He always says yes,” says Lavernia, which can sometimes make scheduling Saif problematic. “So, it’s a total mixed bag. And then, of course, his family life is critically important to him, so he somehow finds a way to meld work life and the family life.”

Part of Saif’s monthly routine includes two networking events. One starts at happy hour on the first Tuesday of each month, in the courtyard of Bougainvillea’s Old Florida Tavern in South Miami,

SOUTH FLORIDA TECH COMPANIES A SAMPLER, NORTH TO SOUTH

MODERNIZING MEDICINE

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INDUSTRY: HEALTHCARE TECHNOLOGY

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ULTIMATE SOFTWARE (UKG)

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EMPLOYEE SIZE: 6,000+ EMPLOYEES (228,000 GLOBAL)

INDUSTRY: IT MANAGEMENT AND SECURITY SOFTWARE

KASEYA

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EMPLOYEE SIZE: 2,000+ EMPLOYEES (4,500 GLOBAL)

INDUSTRY: IT MANAGEMENT AND SECURITY SOFTWARE

UNITED DATA TECHNOLOGIES (UDT)

LOCATION: MIAMI, FL

EMPLOYEE SIZE: 500+ EMPLOYEES

INDUSTRY: IT SERVICES AND SOLUTIONS

BLACKSTONE

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EMPLOYEE SIZE: 250+ EMPLOYEES (4,700 GLOBAL)

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NOVO PAYMENTS

LOCATION: MIAMI, FL

EMPLOYEE SIZE: 275+ EMPLOYEES (400+ GLOBALLY)

INDUSTRY: FINTECH SOLUTIONS

WIX

LOCATION: MIAMI BEACH, FL

EMPLOYEE SIZE: 150+ EMPLOYEES (7,000+ GLOBALLY)

INDUSTRY: WEB DEVELOPMENT & HOSTING

SAIF ISHOOF WITH HIS DAUGHTER RANIA, HIS WIFE AMIRA, AND HIS SON NABEEL AT THE MUSEUM OF THE FUTURE IN DUBAI.

and the other, a breakfast gathering on the second Tuesday of each month at Chug’s Diner in Coconut Grove. At either one you will run across participants ranging from UM coding students to software engineers to lawyers doing IPOs for new companies to representatives from foreign tech firms looking to make connections. His reach spans across diverse sectors, right up to billionaire Ken Griffin, CEO of asset manager Citadel. "Saif's background in the public and private sectors has positioned him to serve as a trusted advisor for business leaders across Miami and Florida. His insights and commitment to our great city have been instrumental to its continued assent as a global hub for business and innovation."

HOW WE MEASURE UP

Even with Saif’s perpetual promotion of Miami and the incredible post-pandemic influx of new companies here, most pundits will tell you the city still has a long way to go. “Yes, Miami is a global tech hub,” says Tatiana Nascimento Silva, Chief Development Officer at the Beacon Council. “Just not in the top three – but on its way to break into the top 10. Miami has grown at an incredible rate, with Blackstone, Citadel, Kaseya, LeverX and Blockchain.com being some of the names that have moved here. And the data backs it up.”

One recent study cited by Silva is by StartUp Genome, placing Miami as the No. 16 Startup Ecosystem globally, and No. 6 in North America, ahead of Chicago, Seattle and San Diego. Coworking Mag, which publishes a ranking each year for the Top Ten [US] Cities for Startups, placed Miami at No.8 for 2024. San Francisco, New York and L.A. came in at the top, followed by Seattle, Chicago, Atlanta, and Austin. At No. 8, Miami did beat Denver and Boston, so not too shabby.

You can also look at how much venture capital is invested each year. The annual eMerge Insights report on 2023 shows that $2.4 billion was invested in the South Florida startup ecosystem across 393 deals, South Florida being defined as the Greater Miami-Fort Lauderdale area. That places the Miami-Ft Lauderdale metro region at No. 7 nationwide for number of deals, and 11th for deal valuation.

“The data is showing us that we are now in the global scene of tech ecosystems,” says Melissa Medina, the CEO of eMerge Americas. “That is a fact. We are seeing it also as an acceleration of South Florida post Covid, how that affected the growth of technology with talent migration and tech companies [relocating] that weren’t here before –plus the capital elements. We are in the early phase of the Miami Tech Global Era. We just need a lot more of everything we have.”

Another measure is for pre-seed funding rounds. According to data research firm Carta, for the first 30 weeks of 2024, Miami ranked No. 6 in the U.S., ahead Austin and Chicago, though still well behind cities such as San Francisco, New York, Los Angeles and Boston. For 2024, that represents $155 million, or about 10 percent of the $1.5 billion the Bay Area attracted – up from under 1 percent pre-2020. Seattle at No. 5, for comparison, came in at $163 million.

Employment is another way to gauge the metrics of Miami. According to research conducted at Florida International University, STEM (science, technology, engineering, and mathematics) jobs in Miami-Dade County alone reached nearly 48,000 this year. While that is a far cry from 330,000 such jobs in the Los Angeles-Long Beach-Anaheim metro area of California, it represents an 18+ percent rise since 2019, compared to growth of under five percent in L.A., “We are an evolving tech community,” says Dr. Maria Ilcheva, the research professor at FIU who conducted the study. “We are not there yet but we are certainly heading in that direction.”

WHO’S OUT THERE

What South Florida needs are more companies in the tech “space,” says Dr. Ilcheva, to achieve the critical mass needed to make tech growth “inherently sustainable and exponential.” And indeed, South Florida is now attracting a bevy of high-tech companies. Some, like Blackstone and Kaseya, are major players with large rosters of employees. Others plant just the company HQs, with production and admin offices elsewhere. Exemplary of this trend is Delian Asparouhov, the founder of Varda Space Industries.The mission of Varda

NETWORKING EVENT AT CHUG’S DINER IN COCONUT GROVE

Space is to produce pharmaceuticals in zero gravity, something Varda does with Space X rocket ships launching lab gear from a site in Utah. He is also a partner of Founders Fund, a $750 million venture fund based in California.

Asparouhov is notable as the Silicon Valley entrepreneur who issued the infamous tweet in December of 2020, “ok guys hear me out, what if we move silicon valley to miami” which engendered the “how can I help?” response from Mayor Saurez. In a more recent tweet this summer, Asparouhov posted “Excited to be back in Miami. It represents optimism, accelerationism & an appreciation of the American Dream in a way that no other city in the US does. We’re 3 years into a multi decade journey of making it the largest tech hub in the world. A strong start but much lies ahead.”

Asparouhov says Miami’s progress to date is nothing short of stunning. “Los Angeles has had Snapchat, SpaceX, etc., since the mid 2000s so [their ecosystem] is like 20 years old. Boston’s ecosystem is like 50 years old. Seattle, too, has an ecosystem 50 years old,” he says. “Miami did not really have much of an ecosystem until five years ago. So, I think it’s super exciting to see a place that did not have some super rich history as a startup and venture ecosystem to go from zero to sixth place [for startup funding] in the United States. It’s extremely promising, especially since it’s ahead of places like Austin, Chicago, and Denver, which have had startup ecosystems for 20 plus years.”

Similar to Asparouhov’s move is the HQ relocation to Miami by LeverX, a Silicon Valley enterprise software company with $400 million in annual revenue and 1,600 employees in nine countries. Dr. Victor Lozinski, its co-founder and CEO, said he relocated to Miami in January of 2023 for key reasons. “Silicon Valley, where we started LeverX, is an excellent place where you can start a company,” he says. “But if you are trying to build an international company, with international operations, it’s getting more and more difficult, especially if you want to do a lot of work with Europe – because you will find a nine-hour time difference [and that] flying from Europe to California is almost like flying to the moon.” The majority of LeverX’s customers are also located on the East Coast.

Lozinski said he looked at locating LeverX’s headquarters in Boston or Philadelphia but found their airports inconvenient and not as well connected as Miami International. “We have this joke at LeverX, that if you cannot fly directly from any city in Europe to Miami, that means it’s not a city.” This year LeverX held their annual customer conference in Miami, a three-day summit called Leveredge 2024. “In the two years here, I have not had a single person telling me they will not come to Miami. Miami has this kind of magic.”

I think it’s super exciting to see a place that did not have some super rich history as a startup and venture ecosystem to go from zero to sixth place in the United States.

THE HISTORIC ROOTS

In tandem with his Moonshot awards, Saif likes to break down the history of Miami’s technology evolution into the same phases as the U.S. space program. Part one was the Project Mercury phase of the 1990s, when Miami was recognized as the Gateway to the Americas and Latin “carbon copies” of U.S. internet and software companies appeared – an eBay for Latin America, for example. The second phase, from 2000 to 2010, Saif calls the Gemini era, when graduates from area universities stopped leaving South Florida and began setting up companies here.

Exemplary of this era was Rony Abovitz,an entrepreneur who studied bio engineering at UM and then, in 2004, founded Mako, one of the first manufacturers of medical robotic technology. He sold Mako ten years later for $1.6 billion and went on to start Magic Leap, a pioneering producer of virtual reality headsets (tested by students at UM). Both Mako and Magic Leap continue to manufacture in Broward County.

“When I built my first company, there was like zero [tech-

DELIAN ASPAROUHOV, ABOVE, FOUNDER OF VARDA SPACE INDUSTRIES

UM STUDENTS TESTING MAGIC LEAP'S VR HEADSETS, INVENTED IN MIAMI

PHOTO BY RODOLFO BENITEZ

nology] scene here. It was like an anti-scene,” says Abovitz. “So, to build Mako Surgical in Florida was the antithesis of everything. Every investor told me don’t do it. No one wanted to fund us.” In the end Abovitz convinced investors from California to believe he could build a company here. “I could have gone elsewhere but I just wanted to be a contrarian,” he says. His companies, with substantial employment rosters, helped spawn other startups by engineers who worked at them.

Next, says Saif, came South Florida’s Apollo era from 2010 to 2020, reflecting NASA’s massive program that finally put a man on the moon. This was Miami’s time of big players, when entrepreneur Manny Medina sold data company Terremark to Verizon for $1.4 billion (2011) then went on to found eMerge Americas (2014) and network security giant Cyxtera Technologies (2017). It was also when the Knight Foundation started funded innovations, when the University of Miami started their Launch Pad incubator, and when FIU created Startup FIU. It was a time when co-working spaces like Lab Miami started in Wynwood.

And then there is the era of now, what Saif calls the Artemis era, analogous to NASA’s declared program of returning to the moon and beyond. This is the post-pandemic era, ushering in what Saif calls “the decentralization of American innovation,” when companies began to relocate in droves from Silicon Valley, New York, Boston, etc. to Miami.

DEEPER ROOTS, WIDER BRANCHES

With the recent migration of startups and venture funds to Miami, it might seem like the South Florida technology ecosystem emerged overnight. But those with longer memories disagree.

David Coddington, the Senior Vice President of the Greater Fort Lauderdale Alliance, was one of the founders of the Florida Tech Gateway, an organization promoting the South Florida tri-county area as a powerhouse of technology. Coddington will

be the first to remind you that South Florida has a long history of technological innovations, including the IBM campus in Palm Beach County where the personal computer was invented and the Motorola campus in Broward County was the cell phone was invented. Both corporations have since left the area, attracted by incentives from other states, but their imprimatur created a pool of professionals that went on to start or join other firms.

Florida Tech Gateway is also known for creating the TechGateway Map, which shows the approximate location of 90+ South Florida companies that provide 116,000+ Information Technology jobs in South Florida. Employers range from Fort Lauderdale-based Citrix Systems, with 657 employees here (6,000 worldwide), to Weston-based Ultimate Software, with 1,650 employees here (5,000 worldwide).

“You know, Microsoft’s Latin American headquarters have been in Fort Lauderdale for 20 years,” says Coddington. “Another one is American Express. Their Latin HQ and their high-end customer service is out in Sunrise. They’ve got 4,000 people in that building… Probably Miami’s largest [tech firm] is Kaseya, and they are talking about 3,500 people.”

Tri-county technology companies reach all the way to the northern edge of Palm Beach County, where a life-sciences cluster has formed around the Max Plank Institute and where Florida Power & Light maintains its 35 Mules incubator. Boca Raton, on the south end of Palm Beach County, is home to firms like ADT and Modernizing Medicine, as well as the Research Park at Florida Atlantic University, which houses not only fully operational tech companies but also student incubator spaces and its Global Ventures program, founded in 2020 to help foreign companies locate operations in South Florida.

“Right now, we’ve got about a dozen different countries represented by 34 companies [in Global Ventures], and they are creating dozens of jobs,” says Andrew Duffell, CEO of the FAU Research Park. Located on 70 acres, the Park is a private-public partnership

SAIF AT HIS MONTHLY NETWORKING EVENT AT BOUGAINVILLEA TAVERN

Goldberg & Rosen, P.A. is a boutique, Plaintiff’s law firm based out of Miami, FL. The Firm exclusively handles personal injury, medical malpractice, wrongful death, and premises liability. The Firm was founded by Glen Goldberg over 50 years ago, and is now co-managed by his nephews, brothers Judd and Brett Rosen. Glen’s legacy is that he passed not only the torch, but countless hours of mentorship to his nephews who in turn pass on their knowledge and experience to the lawyers that work alongside them. Although the firm has grown considerably

RESOLVING YOUR SERIOUS PERSONAL INJURY CASE IN ONE YEAR OR LESS

On June 24, 2021, the Champlain Towers South in Surfside, Florida collapsed in the middle of the night, killing 98 people and leaving hundreds of people homeless. This mass-casualty event shook the community, and predictably, spawned litigation as grieving family members searched for justice and accountability.

At the outset, it appeared to everyone that there would be an extremely limited recovery for the victims due to various legal hurdles. Judge Michael Hanzman, the circuit court judge assigned to the lawsuit, quickly recognized that without his close oversight and proper leadership, this case could quickly become another lawsuit that dragged on for decades as victims fought over a limited potential recovery. He wisely consolidated all cases and spearheaded a leadership counsel comprised of what he called the best and brightest lawyers in our community.

The Court appointed Judd Rosen and Goldberg & Rosen, P.A. as lead counsel for a class of wrongful death victims. Judd took the lead to investigate and ultimately recover over $500 million dollars from Securitas, the security company that was hired by the building. Goldberg & Rosen also led a mediation to resolve the litigation dispute between homeowners with property damage claims and surviving family members with wrongful death claims.

Ultimately, the Champlain Towers South litigation settled just shy of the collapse’s one year anniversary for a record breaking $1.2 billion. Judd Rosen and the Firm were responsible for collecting nearly $600 million of the total settlement proceeds.

If a case as complicated and contentious as the Champlain Towers Collapse case can be resolved in under one year, then yours can too. Below are three tips for making sure your personal injury case resolves in one year or less:

1. PUSH THE CASE TO TRIAL

since its inception and now boasts 16 lawyers and over 30 staff members, Judd and Brett stay personally involved in every case that walks in the door. They spend the time to mentor and teach every member of their team. Growing up, Judd and Brett’s parents were schoolteachers in West Kendall. Because of their upbringing, the Rosen brothers take an educational approach with all of their clients to ensure that they are knowledgeable about their case every step of the way. This practice style enables Judd and Brett to inform their clients and juries during trials.

lawyers send reports to their insurance carriers and trigger internal deadlines.

Send discovery requests; they make the defense compile documents and seek information from their clients. Every action has an equal and opposite reaction. All of these things are obviously necessary to prepare the case for trial, but these same things are also integral to making the defendant and insurance company prepare the case for a mediation, and hopefully, a winning settlement.

3.

DON’T

LET PERFECTION BE THE ENEMY OF THE GOOD.

It is easy to get overwhelmed with uncooperative opposing counsels, large case loads, and other obstacles that come up during the practice of law. It is also easy to get caught up in making sure that every motion, every hearing, every argument, and every meeting goes perfectly. But the desire for perfection can often get in the way of actually getting things done.

2. UNDERSTAND THE MOTIVATIONS OF THE OTHER SIDE

Nothing settles a case like a trial date. At trial, the defendant, and ultimately the insurance company, has the most to lose. Leverage the risk that the insurance company faces to force their hand by making sure that you have a trial date as early as possible during the litigation.

Immediately notice your case for trial and get a Trial Order as soon as the defendant has answered the complaint. The Trial Order will force both sides to start working to comply with all the deadlines. Take depositions; they make the defense prepare their witnesses. Send demands; they make the defense

Defense lawyers only get paid when they bill. The longer a case drags on, the more the defense lawyers get to bill the insurance company for their attorney’s fees. The longer the case takes to get in front of a jury, the longer the plaintiff goes uncompensated for their terrible loss. Conversely, a plaintiff and her lawyer are on the same team. The plaintiff wants to resolve the case as efficiently as possible for as much money as possible, and their lawyer wants to maximize the plaintiff’s recovery. Plaintiff’s counsel doesn’t recover their contingency fee until the case resolves.

Hold your opponent’s feet to the fire within the rules of litigation and professionalism, and your client will reap the benefits.

In the majority of cases, detailed memos and lengthy special set hearings are not required. The experienced lawyers and judges on the other side have all seen the “run of the mill” issues before. The most important goal of any plaintiff’s trial lawyer should be to push the case in a diligent, thoughtful, and purposeful way. If you drop the need for long-winded litigation, you will free up time to actually do what your client is paying you to do: win the case! Sometimes, you can’t get your case to resolution in under one year. Court dockets are clogged and other obstacles get in the way. However, advancing the case forward as efficiently and expeditiously as possible always helps the plaintiff. Delays only help the defense. An aggressive, fair, and diligent approach to every case will always pay dividends both on that case and on every case you handle in the future.

launched by Palm Beach County in the 1980s to help create jobs. “We’ve got 20 companies in the park itself,” says Duffell. “Many of them are multi-million-dollar enterprises, and a couple of them employ more than 200 people.”

THE EDUCATION MATRIX AND THE FUTURE

One of the projects Lab22c recently helped launch was a Rapid Innovation Accelerator in partnership with MoveAmerica and the Department of Defense. Announced at Miami Dade College’s downtown Artificial Intelligence Center, the idea of the accelerator is to link the huge purchasing power of the U.S. Military to innovative small-business suppliers in Miami. Saif, whose company will serve as the local operating partner, was the master of ceremonies. “At the end of the day, we know that venture capital is great,” he told an audience and panel that included Gen. Laura J. Richardson, commander of the Miami-based U.S. Southern Command. “But how about non-diluted capital that comes from a customer that happens to be the best customer you could ever want, the U.S. government?”

Saif’s connection with MDC, in addition to FIU, is another spoke in the wheel of South Florida’s evolving ecosystem. Without a substantial flow of trained workers, Miami will never attain its potential as a global tech hub, something Saif is painfully aware of. To advance that agenda, Lab22c has worked for years with MDC, itself a forward-thinking educational institution. The school recently announced, for example, their new master’s program in AI, the first of its kind in the state. They also train corporate employees in Miami with modular programs in specific areas, such as coding, software applications and ai, to bring them up to speed.

“I’m really impressed by the constant flux of new ideas, fresh ideas, that I’m seeing across various disciplines,” says Pamela Fuertes, the dean of MDC’s Miguel B. Fernandez School of Global Business, Trade and Transportation. “A lot of companies are investing here, and I see it in our student body and in our faculty.” Fuertes points to a new President’s Innovation Fund created by MDC president Madeline Pumariega, herself a relentless advocate of advanced technology curriculum, to fund innovative ideas by MDC faculty. “It provides resources for faculty who design new programs or design a new project with students,” says Fuertes. “It’s fascinating to see how far some of these projects go.”

Reflecting the school’s commitment to train students in advanced technologies is the role played by Antonio Delgado, MDC’s Vice President of Innovation and Tech Partnerships. In 2022 Delgado applied for and secured a $10 million federal Miami Tech Works grant that has been distributed to MDC, FIU, and Florida Memorial University to develop industry-led tech training. Lab22c, not surprisingly, is involved as the facilitator of the partnership of employers, academic institutions, and community organizations.

“What are the metrics that we need to continue growing as an ecosystem? One of the most important is talent,” says Delgado. “My role is to make sure that we have that tech talent, and that we train our community with skills that are relevant for our tech ecosystem, and for those companies either growing or moving to Miami.”

In this vein, MDC collaborates with corporations such as Microsoft, Amazon, Intel, Google and Apple to make sure the curriculum is appropriate. “We follow trends to understand what we’re supposed to be teaching. That’s why we teach Java as the foundation for computer science, because that’s what companies are looking for.” MDC is collaborating with Apple, for example, to train students in the use of the Swift programming language for iOS app development, needed to develop apps for Apple devices.

If there is one person who I would call the connector in chief, that’s Saif...

“To scale further,” says Jaret Davis, managing partner of Miami’s largest law firm, Greenberg Traurig, “Miami needs to continue to successfully recruit sources of capital along the entire fundraising life cycle – from Seed to Series A, to Series B, to growth equity and beyond. [But] Miami’s educational institutions also must continue to focus on producing top developers, data scientists, and similar talent. This includes significant collaboration with the local and external technology companies who will be the ultimate home to this tech talent.”

Davis also makes the point that every tech system needs to have leaders “who can appreciate both the macro picture of what is trying to be accomplished while having the vision, connectivity, and leadership skills to bring together local leaders and players, while also recruiting new entrants to implement that vision. That’s the role Saif plays.”

“Saif is like my brother from another mother. That is how long I have known him, maybe 20 years,” says eMerge’s Medina. “If there is one person who I would call the connector in chief, that’s Siaf, and anyone who knows him would agree. He always thinks of how we can make the community more innovative, more knowledge based, more forward thinking, and more connected with each other.”

As Miami’s Connector-in-Chief, Saif puts it this way: “It brings me great joy to see good people come together. I’ve got this cheesy statement that I say sometimes, which is this: If I tell you what I am working on, you will want to compete with me. But if I tell you who I’m working with, you will want to collaborate with me.” l

MELISSA MEDINA, ABOVE, CO-FOUNDER & CEO, EMERGE AMERICAS

Where Innovation Meets Global Strategy

Shaping Policy Solutions for the 21st Century

At FIU’s Gordon Institute, we shape the future of global leadership by tackling the most pressing challenges in cybersecurity and national security. Our interdisciplinary approach combines cutting-edge research with real-world applications, equipping decision-makers to safeguard digital infrastructures and influence security policies on a global scale. From advancing AI-driven cyber solutions to addressing geopolitical threats, we empower leaders to drive impactful change.

With strategic projects and partnerships spanning U.S. defense agencies, global tech leaders, and other sectors, our institute provides a platform for high-level collaboration and innovation.

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Key partnerships and initiatives include:

$57M IDIQ SOUTHCOM Award: Driving groundbreaking defense solutions and innovation.

Cyber Florida: Pioneering cybersecurity workforce development partnerships.

Hemispheric Security Conference: Celebrating 10 years of uniting experts to tackle critical security challenges in the Western Hemisphere this spring.

NICE Conference: National event shaping cybersecurity workforce standards.

Security Research Hub: Launching vital dashboards for global security insights.

Join us at the forefront of technological and policy innovation, leading transformation in today’s interconnected world!

SOUTH FLORIDA: A GLOBAL MEDICAL HUB

IWith vast medical facilities, nationally recognized research centers, and a culture of high-tech startups, Greater Miami has become an international player in medical services and technology.

BY YOUSRA BENKIRANE

n September of this year, the Miami Anatomical Research Center (M.A.R.C.) Institute in the Doral suburb of Miami unveiled a CT scanner with remarkable 3D imaging capabilities. Manufactured in Italy, the Epica International SeeFactor CT3 is currently the only one of its kind in the U.S., so powerful it allows doctors the ability to examine patients – or preserved specimens – right down to the capillary level.

The device represents a partnership between Epica International, a medical imaging and robotics company, and the M.A.R.C. Institute, established in 2008 to provide healthcare professionals with opportunities for surgical training, medical device training, and research. It is also emblematic of South Florida’s growing role as a global medical hub for technical innovation, physician training, and patient treatment.

“To launch an innovative and potentially disruptive technology like ours, you need clinical buy-in, which can only happen through studies and innovative people who are willing to work with you,” says CEO of Epica International Joe Soto. “Transforming the field of medicine is like moving a large barge – it takes time. So, we need partners like the M.A.R.C. Institute who are willing to work with

us to conduct the necessary studies to show why our technology is so relevant and ideally disruptive.”

SOUTH FLORIDA’S RISE AS A GLOBAL MEDICAL HUB

South Florida has long been a top retirement destination, with an aging population that naturally drives demand for healthcare services. Consequently it is home to massive health care organizations, such as Baptist Health South Florida, which has 11 hospitals in its network and 23,000 employees, making it the second largest employer in the State of Florida. The area is also home to University of Miami Health System, which includes the Bascom Palmer Eye Institute, ranked top in the nation for ophthalmology, and the Sylvester Comprehensive Cancer Center, also ranked among the best in the nation. Then there is the massive downtown Jackson Health System, Nicklaus Children’s Hospital, Mount Sinai Teaching Hospital, Nova Southeastern, and the Cleveland Clinic.

“I’ll call it the Rust Belt phenomenon,” says Dr. Harry K. Moon, M.D., president-elect, executive vice president, and chief

EPICA CHIEF MEDICAL OFFICER, CRAIG GLAIBERMAN, M.D. PREPARING FOR DEMOSTRATION OF THE SEEFACTOR CT3. TOP RIGHT: PATIENT SCAN AT THE CAPILLARY LEVEL

Major medical institutions began focusing on Florida for several reasons ...

operating officer of Nova Southeastern University and former president and chairman of the board of the Cleveland Clinic Foundation. “Major medical institutions began focusing on Florida for several reasons. First, the outmigration of populations from their centers. Then the overall growth of Florida, which has a higher percentage of older residents” having greater health care requirements.

Dr. Moon noticed this change in the 1980s, when the Mayo Clinic first opened in Jacksonville. Soon after, the Cleveland Clinic established a presence in South Florida’s Broward County, eventually building an integrated campus in Weston that opened in 2001. “You saw this cascading of change, all in response to new competition in Florida,” says Dr. Moon.

Now Greater Miami is evolving into something more dynamic – a global medical hub that is fast becoming a platform for cutting-edge medical technology companies, backed up by growing research capabilities. At the same time, the region’s proximity to Latin America and the Caribbean has made it a natural draw for international patients seeking top-tier treatments, further cementing its role in global healthcare.

MEDICAL EDUCATION

“They always say that the universities are the engine of an innovation district,” says Dr. Norma Sue Kenyon, Chief Innovation Officer for UM’s Miller School of Medicine and Vice Provost for Innovation for the University of Miami. “They drive that innovation.” Anchored by institutions like the University of Miami, Florida

International University, and Nova Southeastern University (NSU), South Florida has become a magnet for aspiring doctors, nurses, and healthcare professionals.

Leading the charge is the Miller School of Medicine/UHealth, the University of Miami’s graduate medical school and health system. The university wide U Innovation program is designed to accelerate the translation of research into practice through resources like the Wallace H. Coulter Center for Translational Research and the Office of Technology Transfer. Researchers and clinical professionals, as well as their students and post-doctoral fellows, are encouraged to think beyond traditional healthcare models and focus on pushing the boundaries of modern medicine.

“We’re the top NIH-funded medical school in the state,” says Dr. Kenyon. “The university had $492 million in total research expenditures last year, with over $180 million in NIH funding going to the medical school. We’re producing a significant amount of research and focusing on identifying projects with commercial potential, then nurturing them toward commercialization.”

In terms of basic health care education, however, the South Florida leader is Nova Southeastern University in Fort Lauderdale. “We currently graduate more physicians than any other university in the state,” says Dr. Moon. “In the near future, we will rival the number of graduates from any university in the country.” NSU is one of only a handful of universities nationwide that offers both allopathic (MD) and osteopathic (DO) medical programs. It also boasts the

They always say that the universities are the engine of an innovation district ...

DR. HARRY K. MOON, ABOVE, PRESIDENT-ELECT OF NOVA SOUTHEASTERN UNIVERSITY

DR. NORMA SUE KENYON, BELOW, CHIEF INNOVATION OFFICER FOR UM’S MILLER SCHOOL OF MEDICINE

PHOTO BY RODOLFO BENITEZ

RESEARCH IS IN OUR DNA

NSU Health offers personal patient care across an array of practices, from primary care, pediatrics, women’s health, and mental health counseling to dental and vision services.

largest dental program and the only college of optometry in the state, along with programs for physician assistants, anesthesiology assistants, occupational and physical therapists, speech-language pathologists, pharmacy, and optometry.

In addition to the universities, institutions like Mount Sinai Medical Center play a vital role in training medical professionals. Mount Sinai Medical Center in Miami Beach, founded in 1949, is the largest private, independent, not-for-profit teaching hospital in South Florida. It has the only Ivy League-affiliated cardiology, urology, orthopedics, and cancer programs in South Florida, backed by Columbia University. The Ivy League-affiliated programs allow for more access to clinical trials, research, and collaborative treatment plans for each patient.

Last August the hospital formed a new academic partnership with New York Medical College (NYMC), designating the hospital as a teaching site for the training and education of NYMC’s medical students. The partnership establishes clerkship rotations for medical students in internal medicine, obstetrics and gynecology, psychiatry, and surgery — and electives in emergency medicine, anesthesiology, and urology. “Educating the next generation of expert physicians for our community has been at the core of Mount Sinai’s mission for 75 years,” says Dr. Gino R. Santorio, president and CEO of Mount Sinai Medical Center. “Our newest affiliation with NYMC enhances our ability to continue to attract top medical minds, fostering an environment where emerging doctors are mentored by expert faculty.”

The teaching hospital also rotates medical students from Nova Southeastern, FIU, Miami-Dade College, Barry University, and Columbia University. Similarly, Jackson Health System is a key part of Miami’s healthcare network, one of the largest public healthcare networks in the U.S. It operates Jackson Memorial Hospital, which is also a teaching hospital connected to the University of Miami. Baptist Health also has extensive graduate medical education programs, particularly in fields like surgery, cardiology, and oncology. The hospital system is affiliated with several medical schools at FIU and FAU, offering a clinical training site and clerkships for medical students.

Another South Florida asset is its diverse population. The

region’s multinational population creates an environment where medical students can gain exposure to diverse cultural perspectives. The population also provides fertile opportunities for research. “We’ve seen a growth in diversity from a genetic standpoint and nationality, creating a melting pot that includes individuals from Central and South America, Europe, and Asia. This has resulted in one of the highest levels of genetic diversity in the country,” explains Dr. Moon, “This is really attractive for research, the pharmaceutical industry, and practitioners.”

MEDICAL TOURISM: SOUTH FLORIDA’S GLOBAL APPEAL

According to the Greater Miami Chamber of Commerce, Miami welcomed around 27 million visitors in 2023, including 6 million from overseas. While most are here for fun and sun, a significant group are patients traveling from Latin America, the Caribbean, North America, Europe, and Africa seeking medical care.

Nicklaus Children’s Hospital serves patients from over 150 countries. Take, for example, Fabricio, who was born prematurely at 32 weeks and spent 21 days in the ICU of a Colombian hospital. Almost a year later, his family learned he had spastic diplegic cerebral palsy, treatment for which was not locally available. A couple of months later, Fabricio arrived at Nicklaus Children’s Hospital in Miami, where he underwent surgery. Once he recovered, he began sessions of physical therapy and eventually returned home to Colombia.

“We get a lot of calls from patients explaining their child’s rare condition and how there’s no specialist that has the expertise in their country. They look to us as the trusted provider to help,” says Vice President for Business Development & Chief Strategy Officer Dr. Saima Aftab. “It’s very important for us to be able to be there for all kids in all countries.”

Nicklaus Children's Global Health Initiative is designed specifically to meet the needs of overseas patients, offering language support and visa assistance. “We have been very intentional about building a diverse and inclusive clinical and hospital workforce to serve our di-

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The UK-Florida Connection

A DELEGATION FROM THE UNITED KINGDOM ILLUSTRATES MIAMI’S IMPORTANCE

In mid-September a team of entrepreneurs and health care professionals from the UK assembled in a meeting room at the Brickell offices of Miami-Dade’s economic development agency, the Beacon Council. Part of an initiative between the State of Florida and UK’s Department for Business and Trade, the delegation of 23 British firms shared ideas with an assembly of local leaders, including the lead partner of Miami’s largest law firm, Florida’s Secretary of Commerce, and the chief information officer from the Jackson health system.

For 90 minutes, presenters ranging from startup entrepreneurs to officers at established medical firms explained concepts that ranged from simple mechanical devices to sophisticated software. Buckingham Healthcare, for example, pitched a strong, portable board with a seat that slides horizontally, designed to avoid back injuries for healthcare workers by moving patients across the board on the sliding seat, from bed to chair.

At the other end of the spectrum was Michael Watts, co-founder and CEO of Blüm Health Ltd., which designs software for UK’s National Health Service. He discussed their digital transformation strategy for hospitals, their tech innovations like virtual speech and language therapy programs, and their ability to usher US firms into the UK healthcare space. T.J. Villamil, president of business development for eMerge Americas, acted as moderator. He emphasized the attractiveness of setting up shop in Miami, for both the U.S. and Latin markets. “What Miami has is incredible linkages to the Americas. We are the best place to do business with all the economies to our south.”

Executive director of the Beacon Council, Rod Miller – who had met with health care officials in London the previous month – summarized the session: “We want to focus on how we build the best economy in the world, and our approach is to build partnerships…. There’s so much activity happening in the UK [home to a third of all biotech startups in Europe] we wanted to find all the ways we can pull our markets together.” – J.P. Faber

verse patient population effectively,” explains Dr. Aftab. “Fortunately, our geographical location is in a city where diversity is inherent.”

Baptist Health International specifically caters to the needs of international patients, offering 24/7 access to multilingual patient coordinators who coordinate medical appointments and insurance verification. Services include outpatient diagnostic imaging, medical second opinions, and an Executive Health program that provides comprehensive physical examinations and preventive consultations. The organization also assists with transportation and accommodation logistics, including negotiated rates for hotel stays and car rentals.

Baptist’s centers of excellence play crucial roles in drawing international patients, offering specialized services in cancer care, heart and vascular treatments, orthopedics, and neurology.

The Baptist Health Miami Neuroscience Institute, for example, is ranked among the top 40 nationally by U.S. News & World Report. Its Miami Orthopedics and Sports Medicine Institute is likewise a key attraction for international patients, particularly athletes.

Meanwhile, Cleveland Clinic’s international program, drawing patients from over 185 countries annually, supports the diverse needs of international patients with multiple facilities including South Florida, and 15 in-country representatives positioned around the globe to assist patients who travel outside of their home country for care. “They help patients by being integrated in those societies, facilitating the patient to get registered and triaged at the Cleveland Clinic, and to be able to go to the right place at the right time,” explains Chair of Global Patient Services at Cleveland Clinic, Dr. Maan Fares. “Most of the patients prefer to go to South Florida because of proximity and ease of travel.”

The Cleveland Clinic established its Florida presence in 1988, launching facilities in Broward and Collier counties, its first expansion outside Ohio. Today, Cleveland Clinic Weston has grown into a 230-bed academic medical center, part of the clinic’s expansion from its main campus in Cleveland to 23 hospitals and 276 outpatient facilities in locations including the U.S., Canada, Abu Dhabi, and the UK. “We want to be accessible to patients, not limited to one market or location,” says Dr. Fares. “[South Florida] has become a great destination for us.”

GROWING MEDICAL TECHNOLOGY AND INNOVATION SCENE

In recent years, Miami has experienced explosive growth in its tech industry. In 2023, the city ranked among the top U.S. metro areas for startup activity. It has also attracted scores of venture capital and managed asset funds. This influx of talent and investment has fostered a vibrant technology ecosystem, with strong silos in biotechnology and health care.

Miami’s annual eMerge Americas event, which attracts 10,000 attendees each year – pairing early-stage entrepreneurs with investors – last year introduced medical technology as a new area of focus. “Not only did we emphasize [MedTech] this past year, but we are continuing to grow it in 2025. We see a huge opportunity in the MedTech space across Florida,” says Melissa Medina, CEO of eMerge Americas. “The finance industry attracts the most venture dollars, but health care is the second and it is growing dramatically.”

Take Quantum Surgical, a medical robotics company based in France with an office in Miami. Founded in 2017, the company’s robots assist physicians in cancer surgery. Since receiving FDA approval two years ago, its Epione device has helped treat over 600 patients; the company sold its first Epione in the U.S. to the Baptist Health Miami Cancer Institute. With this technology, physicians can perform minimally invasive procedures, reducing operation and recovery times. “What technology does as a whole, in any given field, is help less experienced, less skilled people do things that were

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previously very exclusive,” says company co-founder Bertin Nahum.

Nahum says the decision to expand into the U.S. was partly based on his partnership with Baptist Health but also by his admiration of medical technology innovator Maurice R. Ferré. The latest venture for Ferré is Insightec, an Israeli company run from Miami that has developed a device for non-invasive laser brain surgery. “For me, he [Ferré] was one of the pioneering people in medical robotics, and [at the time] I found it very odd to build a surgical robotic company in Florida,” says Bertin, “Most of the companies created like that were in California. Now it’s no longer odd.”

According to Rodrick Miller, president and CEO of MiamiDade’s economic development organization the Beacon Council, local jobs in life sciences grew 13 percent from 2019 to 2023, almost two times the national growth rate. “Miami is a special place,” says Miller. “We have among the busiest air and seaports in the world, ranking number one in the U.S. for international passengers. But a significant part of our competitive advantage lies in our universities – especially the University of Miami.”

Since 2015, UM’s innovation initiatives have generated greater than 1,000 inventions, 1,400 patent submissions, and 200 licenses. The university deliberately cultivates an entrepreneurial environment for faculty and graduates through startup programs, such as The Launch Pad, and provision of funding and business development support to drive research outcomes toward commercialization

and ultimately stimulate economic growth in the region. Dr. Kenyon, who heads innovation for UM’s Miller School of Medicine, says the emphasis is on real world applications. “We can publish amazing papers, get grants, do phenomenal research, but to transform the world we have to get our outcomes into a product and out in the public domain,” she says.

Among UM’s key initiatives is its Office of Technology Transfer, which helps researchers protect their intellectual property and navigate the process of bringing innovations to market. Another is its Coulter Center for Translational Research, which provides funding, resources, and support for researchers developing new medical technologies and treatments, facilitating partnerships that can lead to breakthroughs in patient care.

Another part of UM’s mission is Converge Miami, a 180,000 sq. ft. facility located in what amounts to Miami’s medical innovation district, an opportunity zone just west of the downtown that is also home to the Jackson medical complex. Converge hosts some key UM programs, including Miller School of Medicine labs, and has partnered with Wexford Science and Technology, which helps universities develop medical innovation campuses nationwide. Through Converge Labs, UM also offers shared spaces and equipment for early-stage ventures. “When I first started, our startups routinely left –

TOP: CLEVELAND CLINIC WESTON HOSPITAL

LEFT: A YOUNG PATIENT AT NICKLAUS CHILDREN’S HOSPITAL IN MIAMI. RIGHT: BERTIN NAHUM, CEO OF ROBOTICS MAKER QUANTUM SURGICAL

Introducing Jackson Concierge Medicine, personalized access to world-class care

Jackson Concierge Medicine provides members a personalized healthcare experience, with around-the-clock access to Jackson Health System’s world-class medical professionals and facilities.

The annual membership fee provides you with a personalized experience tailored to your lifestyle needs, including features such as:

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they went to Boston or California,” says Kenyon. “Now, a lot of them stay, and Converge is a key part of that. They can rent a bench in a fully equipped lab, and if they keep their operations there, it is in an opportunity zone, which can ultimately give them a tax advantage.”

More than 50 startups have launched from UM’s medical and healthcare research, including firms like Longeveron (cell-based therapies for age-related diseases), Heru (AI driven vision care), REstorE (technologies for the prevention of hearing loss), and priZm (treatment for ultra-rare pediatric diseases). HealthSnap, for example, is a virtual care management platform founded in 2015 as a UM startup; its core product, the Electronic Lifestyle Record, collects health and lifestyle data during patient visits, enabling better management of chronic conditions. The firm recently secured $25 million in Series B funding.

The innovative labs at UM also develop intellectual property that can be licensed to other medical companies. Examples include Tissue Xpress, a device that provides tissue biopsies in an hour, licensed to California-based Sakura Finetek USA; Adcetris, a monoclonal antibody licensed to Seattle Genetics; and novel catheters by startups RIST and NRT, acquired by Medtronic. Such medical innovations are also employed in South Florida. HealthSnap’s platform is being used by Mount Sinai, for example, “so our physicians can remotely assist patients, helping them manage their conditions more effectively and confidently,” says Dr. Gino Santorio.

Nicklaus Children’s Hospital, meanwhile, has introduced the BEAR Program (Better Experience Through Augmented Reality), a virtual reality program aimed at improving the healthcare experience for young patients. The initiative leverages VR technology to help reduce anxiety and provide a distraction during medical procedures; the program lets the children engage in interactive games and explore virtual environments (like turning their hospital room into an underwater adventure), making their hospital visits less intimidating.

MEDICAL EXPORTS/IMPORTS: PRODUCTS & SERVICES

For over a decade, healthcare-related exports from the Miami Customs District have consistently exceeded $10 billion annually. In 2023 alone, two of Miami’s top 10 exports – medical devices and

pharmaceuticals – contributed over $5.96 billion of the district’s total $73.3 billion. The largest category, pharmaceuticals, accounted for $2.39 billion. This category was bolstered in 2015 when Miami International Airport (MIA) became the first Designated Pharma Hub Airport in the U.S., after earning certification for its cold storage of pharmaceuticals during shipment.

With Florida boasting the second-largest medical device manufacturing industry in the U.S., medical devices accounted for $1.7B in exports in 2023 for the Miami Customs District, mostly to Latin America and the Caribbean. On the pharma side, Miami-Dade County is home to major pharmaceutical manufacturers like Beckman Coulter, BD Biosciences, and Cordis (a Johnson & Johnson Company).

One large contributor in this space is Noven Pharmaceuticals, a key producer and exporter of pharmaceuticals/medical devices, particularly transdermal drug delivery systems. “It is surprising how many manufacturers are based in the Miami area, especially in the medical sector,” says Chief Operations and Quality Officer Jose Almodovar. “Many small firms have flourished here and have been acquired by larger companies.” Founded in 1987, Noven grew from modest beginnings in a garage into a major player that was acquired by Japan-based Hisamitsu Pharmaceutical Co.– the largest manufacturer of transdermal products globally – in 2008. Noven now has over 300 employees predominantly based in South Florida, with a diverse workforce, comprising engineers, scientists, and quality control specialists.

In a notable move, Noven plans to transfer the production of its flagship product from Japan to Miami. “All volume that will be distributed and sold in the U.S. will be manufactured here in Miami,” says Almodovar, noting Noven’s geographic advantages. “We primarily use trucking within the U.S. and air shipments for international distribution,” Almodovar noted. “Miami’s logistical routes enable us to maintain healthy inventory levels while cutting lead times for our products in high demand.”

Another area where Miami shines as a medical hub for the Americas is through Medical insurance. The largest trans-Latin insurance company, Amadex, was launched in Miami in 1980. Found-

UNIVERSITY OF MIAMI (UM) UHEALTH INNOVATION CAMPUS

er Mike Carricarte describes how, at the time, hospitals in Venezuela and Colombia would not release patients unless all medical fees were paid. “A lot of people were held captive in the hospitals, like cruise ship passengers and cruise ship crews.” Carricarte was already in the medical insurance business in Miami, and as a fluent speaker of Spanish, was asked to negotiate for the cruise lines. “I said there is a better way to negotiate. Let’s have a contract, that we’ll pay them 30 days afterwards.”

And so Amadex (short for American Medical Express) was born, negotiating contracts with hospitals across the region, and selling health insurance policies based on those relationships. Amadex also starting using air ambulances to bring patients to Miami hospitals for advanced procedures not available in the client’s home countries. “Miami is the medical capital of the Americas, without a doubt,” says Cariccarte. “At one point we were bringing in more patients by air ambulance than all the other [U.S.] air ambulance services combined.”

Amadex was sold to international health care company Bupa in 2005 with a non-compete, so Carricarte moved from health insurance to life insurance. With son Michael as CEO, a new company Olê was launched in 2022, driven by technology. “We are revolutionizing life insurance in Latin America through Ai-backed digital underwriting, accessible via online platforms and mobile apps,” says Michael. The system uses proprietary algorithms to rapidly determine risk factors and grant a policy in 24 hours. As of press time, Olé had 10,000 Latin Americans in 20 countries signed up for policies of up to $1,000,000.

In Miami’s rapidly growing healthcare sector, new medical treatments also come with risks that require insurance policies. Azimut Insurance Consultants, based in Miami, specializes in providing tailored insurance solutions to doctors and product developers who are pushing the boundaries of medicine.

One example is Spaniard-native Dr. Alfonso Sabater, a surgeon-scientist at the University of Miami and medical director of the Ocular Surface Program at the Bascom Palmer Eye Institute, one of the top eye hospitals in the U.S. Dr. Sabater is developing innovative

BY

eye drops made from patients' own blood to treat dry eye disease, through his biotech startup, Ocubio. While the treatment shows immense potential, it brings new risks, especially in the early stages of commercialization.

“We process it in a way that creates a tear very close to our natural tears,” said Dr. Sabater. The drops have been used at Bascom Palmer but are now on track for a broader rollout.

While the science behind the drops is impressive, bringing an innovative medical product to market isn’t without challenges –especially when it comes to liability. That’s where Azimut comes in. "We take a deep dive into the product – from how it's manufactured to how it's used by patients – and make sure everything is covered," said President Eduardo G. Justo.

With a planned commercial launch by 2025, Sabater is working to ensure the product’s success, and thanks to Azimut’s expert risk management, he can bring his life-changing innovation to market with confidence.

As South Florida continues to evolve into a global medical hub, the consensus among industry leaders is optimistic yet realistic about the journey ahead. “Rome was not built in one day,” says Dr. Phillip Liu, head of healthcare for VC firm Atomic, and director of the Life Sciences Committee for the Beacon Council. “But I think we’re starting off in the right place. Part of the challenge for life science is that research takes time,” he says. “Traditionally, Miami is not seen as a life science hub. Think about how long it took Boston, for example, to get to where they are.”

Still, for Dr. Farers, it’s closer than one would think: “The needle is moving in front of our eyes and it’s just a matter of time,” he says. “Major hospitals within the United States are finding that Florida is a place to be.” Says Rod Miller, summarizing the region’s rapid development, “We’re a relatively young community, about 130 years old, but we have truly become a global city [and] South Florida has really emerged as an amazing medical hub.” l

MIKE CARRICARTE, FOUNDER OF MEDICAL INSURER AMADEX

PHOTO

EDUARDO G. JUSTO, PRESIDENT OF AZIMUTH, WITH VICE PRESIDENT OF SALES LETICIA MONTEAGUDO

More Ranked Programs than Any Other Children’s Hospital in South Florida.

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For nearly 75 years, we’ve been committed to delivering world-class healthcare, always with your child’s well-being in mind. With the brightest medical minds focused on pediatric care, it’s no surprise we’ve been nationally ranked by U.S. News & World Report’s 2024-25 rankings, with more top-ranked programs than any other children’s hospital in South Florida. Our extraordinary, compassionate care is proof that, here, your child truly matters most.

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Nicklaus Children’s has more ranked programs than any other children’s hospital in South Florida

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Taking Local Global

ARGENTINE CAROLINA KLEINMAN

SHARES HER BRAND WITH ARTISANAL CREATIONS FROM AROUND THE WORLD

BY KATELIN STECZ

Walking into Carolina K’s flagship store in Miami’s Design District, the first thing that might catch your eye is the red crocheted maxi dress with cascading ruffles. The tag reveals it was crafted by an artisan from Mexico named Elena. If you wander the store, you will see works from other artists and artisans across the globe, all curated alongside Carolina Kleinman’s own designs. The store is a patchwork quilt of cultures, showcasing creations from countries like Peru, Mexico, Argentina, Colombia, Ecuador, Cuba, Portugal, Guatemala, India, Morocco, and more. Even a coastal blue and white jumpsuit from Kleinman’s summer collection uses a print designed by French artist Henriette Arcelin, hanging not far from coral-inspired art by Miami-based Brazilian artist Beatriz Chachamovits.

Kleinman’s Carolina K store in the Design District opened earlier this year, the culmination of her brand basing itself in Miami, which began in 2016 with a shop at Miami Beach’s posh Faena Hotel – the year she decided to make Miami the headquarters for her label. After maintaining that shop for five years and integrating herself into Miami’s budding fashion scene, Kleinman opened a studio in the city’s Little River district in 2021. The opening of her flagship Design District store in April, where she could showcase both her clothing and curated collections, felt like the natural next step.

Kleinman’s journey in fashion began long before her arrival in Miami. The Ar-

If I ever have a fashion brand, I’m going to make it meaningful. I’m going to preserve heritage...

gentine designer recounts being surrounded by fashion since she can remember. “I grew up in fashion. My mom had clothing stores when I was little, and later I found out that my grandfather was in textiles and trims… It all just came very naturally to me.”

After launching her label in 2005, Kleinman spent the next eleven years living and traveling throughout Central and South America while building her brand.

These travels remain a significant source of inspiration for her designs, and just as importantly, her commitment to slow fashion – the practice of sustainable, ethical clothing production that prioritizes quality over mass production and takes into account the impact on the environment and workers. Part of that, for Kleinman, is the curation of artisan-made items.

Even though her designs are now

CAROLINA KLEINMAN ON SOURCING HER CREATIONS FROM ARTISANS

featured in major luxury department stores like Saks Fifth Avenue, Kleinman says her focus has always been on sustainability, even before she was fully aware of it. “For many years, I never thought of the term sustainability. From the beginning, everything was made by hand. We had about ten years where each and every piece was made by hand, and there was no waste,” she says.

But when she expanded her label in 2014 to include prints, Kleinman had to rethink the process. “We scaled the business and started doing prints. Of course, there’s waste with that, and depending on where the material is grown, it might not be sustainable. So, after doing a lot of research, we found the right materials. Now we only use fabrics that are made in an eco-friendly and responsible way,” she explains.

Kleinman’s commitment extends beyond sustainability to preserving artisanal traditions. When she first considered creating her own brand, she was inspired by the markets near her hometown in Argentina. “When I went into these markets, I saw that a lot of these techniques were fading away. I was afraid some would be lost forever, so I thought, ‘Well, if I ever have a fashion brand, I’m going to make it meaningful. I’m going to preserve heritage.’”

Now, with her store in the Design District, Kleinman can display and sell products beyond her own label. “I love curating

other brands, and not only empowering the artisans through Carolina K, but also empowering like-minded individuals,” she says. “The store gives artists another platform to showcase their work.”

With its rich cultural diversity, Miami seems like the perfect place for this vision, and it’s hard to find a design label or fashion outlet in the city that captures its multicultural spirit better than Carolina K. l

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KLEINMAN

A Hidden Gem in the Grove

SEREIA IS THE LATEST CREATION OF PORTUGUESE SUPERSTAR CHEF HENRIQUE SÁ PESSOA

BY ANDREW GAYLE / PHOTOS BY RODOLFO BENITEZ

The laws of mutual attraction in the world of fine cuisine are now in full force in Miami, with its growing culinary scene luring more of the world’s top talent. With fourteen Michelin-starred restaurants, and world-renowned chefs such as Joël Robuchon, Thomas Keller, Jeremy Ford and Shingo Akikuni running establishments here, Miami has become a gustatory playground with its own gravitational field.

The latest culinary great to be drawn into the Miami obit is Chef Henrique Sá Pessoa, a Portuguese master of seafood whose Lisbon restaurant Alma owns a coveted two stars from Michelin. Besides several other places in Portugal, Sá Pessoa has restaurants in Amsterdam (Arca), London (JOIA), and Macao (Chiado). A key figure in modern Portuguese cuisine, he has authored cookbooks and made numerous television appearances, including as the guide for Anthony Bourdain in Lisbon for the “No Reservations” series.

Now Sá Pessoa has landed in Miami with Sereia, an elegantly understated restaurant tucked away behind a courtyard on Main Highway not far from the old Coconut Grove Playhouse. Opened just six months ago, Sá Pessoa has created a menu at Sereia that he describes as “Atlantic cuisine using local ingredients” – one that uses as much as possible from local waters and farms. “It’s very much inspired by what we do back home, but I didn’t want to fly everything from Portugal,” he says, siting environmental concerns. “Some has to come from there, but I try to source the fish, for example, from the Atlantic coast and Florida.”

One of the dishes that does require a fly-in is the Bacalhau à Brás ($44), which uses salted cod that Sá Pessoa’s executive chef Miguel Massens flakes and slowly cooks in olive oil with crispy potato strings, caramelized onions and black olives, then presents in a terrine with an egg on top to mix in for a rich creamy texture. This is real Portuguese comfort food, salty, chewy, grainy and musky, with a wonderful rich flavor. On the other end of the Lisbon/Local scale is their wahoo crudo ($28), covered in a creamy lime/citrus sauce punctuated by fried sweet potato chips. It comes across as a bit viscous, but the chips balance out the dish nicely.

The rest of the menu is a playground for Sá Pessoa’s culinary imagination, drawing on his Portuguese roots combined with a

TOP: MICHELIN-STARRED CHEF HENRIQUE SÁ PESSOA

MIDDLE: CHEF MIGUEL MASSENS IN THE KITCHEN

ABOVE: THIS SOPHISTICATED SEAFOOD RESTAURANT IS A WONDERFUL ADDITION TO COCONUT GROVE

TOP LEFT: SALADA DE TOMATE (HEIRLOOM TOMATOES)

OPPOSITE PAGE

TOP LEFT: BACALHAU À BRÁS (SALTED COD FISH)

TOP RIGHT: SEARED SCALLOPS WITH PEA-MINT PUREE

BOTTOM LEFT: BARRIGA DE PORCO (PORK BELLY WITH POTATO)

MIDDLE RIGHT: ALHO FRANCÊS TOSTADO (LEEKS IN SAUCE)

BOTTOM RIGHT: PICA PAU (SEARED FILET MIGNON CHUNKS)

lifetime of traveling the world and working in some of the top restaurants in the world before starting his own, creating in Sereia what he calls “a seafood-forward restaurant with bold, new flavors.”

Some of the best we tried included seared scallops ($36) cooked in a fish stock reduction with cumin oil (“for an Iberian Peninsula flavor’), then served in a pea and mint puree with candied maple bacon bits. A new and bold flavor bathed in an airy light sauce.

While sides are usually downplayed, those served at Sereia are showstoppers. Their Alho Francês Tostado ($16) are grilled leeks served on a pool of romesco sauce and topped with hazelnuts and arugula. Who knew the humble leek could be so elevated. Even more impressive, and one of the evening’s favorites, was the Peixinhos da Horta ($14), green beans lightly fried in a tempura batter and served with an aoli tartar sauce.

For those who want more of a Portuguese country dish, the Pica

Pau ($32) is a kind of beef stew comprised of flashed seared pieces of filet mignon with garlic and a white wine/mustard sauce and pickled vegetables. You will want to mop up this umami taste with bread.

It is impossible to cover all the menu items here, except to say there were no disappointments and many subtle twists to the traditional – like their simple sounding Salada de Tomate ($14), a flavorful delight with lemon vinaigrette, candied walnuts, watermelon, heirloom tomatoes, and arugula, or their slow-cooked then crisped pork belly served with potato pave and spinach puree ($54). Their desserts, meanwhile, are from another world – don’t miss the sweet rice custard with candied crispy rice and caramel sauce ($14).

In a city that is assaulted by new restaurants with aggressive presentations and predictable menus, Sereira is a wonderfully elegant counter-post, a quiet haven for inventive, sophisticated flavors that raises the bar for fine dining in Miami. l

The Chinese Nearshoring Strategy

HOW CHINESE COMPANIES ARE INVESTING IN MEXICO TO EXPORT TO THE U.S.

BY ANTONIO ACUNZO

Antonio Acunzo is CEO & Co-founder of MTW GROUP, an international business advisory company based in Miami and working with SMEs and Mid-Market companies looking to expand in the U.S.A. and select Asian markets.

Internationalization and Globalization are two processes that, starting in 2020, have experienced profound changes. Today, globalization is no longer a phenomenon driven only by the economy, as a new context has become dominant: political risk, with repercussions in international trade due to new alliances between blocks of countries united by borders, interests and common principles.

The USA-China decoupling, the process of loosening the interdependence between the two countries with a view to geo-strategic rivalry, has resulted in the transfer of production capacity back home and the nearshoring of American production in neighboring countries, especially in the Caribbean and Latin American areas.

The purpose of nearshoring is to optimize supply chain management, to reduce transit times, and to improve responsiveness to product demand, thus reducing risks from trade wars, geopolitical turbulence, factory or port closures, and demand volatility. Nearshoring developed in response to global supply chains becoming more vulnerable to disruption.

In particular, this has benefitted the Dominican Republic, which has become an industrial hub for large U.S. companies such as Johnson & Johnson, GE Energy, and Medtronic, with transport advantages to ports on the American Atlantic seaboard. Multinationals such as Nestlé and IKEA have also chosen the DR as a distribution hub, benefiting from reductions or elimination of taxes and duties.

Now many Chinese companies have undertaken a strategic path to bypass the constraints imposed by the US-China decoupling by investing in Mexico. The goal is to export consumer and mass market products made in Mexico to the U.S., for reasons that include: the USMCA free trade agreement between the USA, Mexico and

Canada, which eliminates customs duties; finished products that are 100 percent Made in Mexico and therefore Mexican in all respects, even if the investment capital from China; reduced ground transportation costs to the largest consumer market in the world; low-cost skilled labor (the average wage of factory workers in the U.S. is $16/hour and $6.50 in China, but only $4.50 in Mexico).

Case in point: Man Wah Holdings, a Chinese company based in Hong Kong that is the global leader in reclining sofas with electric mechanisms. In 2022, Man Wah invested in the Hofusan Industrial Park 25 miles north of the city of Monterrey, located just 130 miles by road from the U..S Customs crossing at Laredo, Texas. The 2.5 million sq. ft. advanced production facility delivers a manufacturing capacity of 3,500 containers per month to be shipped across the Mexico-USA border. The remaining lots in the Hofusan park have already been acquired by 35 Chinese companies interested in the U.S. market, 10 already active today and 25 with construction plans scheduled between now and 2027.

Other Chinese companies pursuing the same strategy include Shenzhen-based BYD Auto, the world’s largest manufacturer of electric cars, which plans to build cars in Mexico destined for the U.S. market (Warren Buffett’s Berkshire Hathaway is among its partners). The idea is to benefit from U.S. policies that grant electric cars produced in Mexico a tax credit of $7,500 dollars for American consumers who purchase these e-cars, and to avoid the 27.5 percent customs duty on electric cars Made in China.

Also in 2023: Lingong Machinary Group, which produces excavators and heavy construction equipment, invested $5 billion in the state of Nuevo Leon; Trina Solar, a world leader in solar energy, invested $1 billion in photovoltaic production; and Lenovo, a Chinese technology giant, invested in a plant for the assembly of computers, servers and racks.

Mexico may be replacing China as the main trading partner of the U.S., but not all of it will benefit Mexican corporations – or replace China. l

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