According to a new report by the Kauffman Foundation, the Miami-Fort Lauderdale Metro area is now in the #2 spot for national entrepreneurship ranking. The only city with a higher ranking you may ask? Austin, Texas, beating South Florida by only a few fractions of a point.
The report revealed that there are 247.6 startups per 100,000 in the Miami metro; significantly higher than the overall startup density of 130.6 per 100,000 people. Although Miami had the highest startup density in the nation, Austin had a higher rank due to a higher rate of new entrepreneurs and the opportunity share of new entrepreneurs. The opportunity share of new entrepreneurs is calculated as a percentage of new entrepreneurs driven by “opportunity” rather than “necessity”.
This is an exciting step up for the Miami-Fort Lauderdale community, proving how much innovation is growing right in our own backyards.