Miami Tech & Startup News

6+ things to know in #MiamiTech: News about Terran Orbital, Solana Spaces, Seedfunders, Ufodrive, How to Start Something, and more

6+ things to know in #MiamiTech: News about Terran Orbital, Solana Spaces, Seedfunders, Ufodrive, How to Start Something, and more

Nancy Dahlberg February 24, 2023
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1

Big contract for Boca spacetech company

Terran Orbital secured a $2.4 billion contract to build satellites for Rivada Space Networks. 

The Boca Raton-based spacetech company that began publicly trading last year on the NYSE will design and build 188 low-earth orbit satellites for the subsidiary of wireless technology firm Rivada Networks, as well as 12 “spare” satellites that will serve as backups. “I believe this is the largest small [satellite] deal in the history of small sats – I don’t know any deal that is larger,” Terran cofounder, chairman and CEO Marc Bell told CNBC.

Founded in 2013, Terran Orbital is a leading manufacturer of satellite products primarily serving the aerospace and defense industries. The company provides end-to-end satellite solutions by combining satellite design, production, launch planning, mission operations, and on-orbit support for military, civil, and commercial customers.

Rivada Networks is active across North and South America as well as Europe. Terran Orbital will design and manufacture the 500-kilogram satellites through its Tyvak subsidiary, as well as  integrate the communication payload, and perform the final satellite assembly, integration, and test. Rivada expects to begin deploying the satellites by 2025. “Our partnership will show why Terran Orbital continues to be a satellite manufacturer of choice for aerospace and defense companies worldwide. We are ecstatic to work alongside Rivada and look forward to building out their LEO constellation,” Bell said in the announcement.

2

Solana Spaces is closing its Wynwood store

Solana Spaces, we hardly knew you. The popular store and event space in Wynwood is closing on Tuesday. “We’ve made the difficult decision to sunset our stores in NYC and Miami by the end of February, and to pivot our Solana onboarding efforts into digital products like DRiP, our free NFT product with more than 100k sign-ups,” said a Solana Spaces tweet.

Last summer, Solana Spaces opened its first physical store in New York’s Hudson Yards, and its store in Miami’s artsy district followed in August. These store were Web3 onboarding spaces for newcomers.

 Going forward, Solana Spaces founder Vibhy Norby told Decrypt the team found more efficient ways to onboard people. DRiP is a website where collectors can receive free Solana NFTs, airdropped weekly. Its also an online platform that the company says saw the same amount of traffic as the physical stores.

3

Seedfunders launches Associate Network

 Seedfunders, a Florida-based investment firm for early-stage startups with a chapter in Miami, launched the Associate Network. 

For investors out of the Seedfunders organization, the Associate Network will enable easy access to view investment opportunities, sign documents and wire the funds. The complete process will be fully automated allowing for a greater amount of investors and overall funding for the startups. Dave Chitester, founder of Seedfunders, told South Florida Tech Hub that “97% of investors don’t invest in private deals because they either don’t know about them or find them too risky. The Associate Network aims to make it easier to invest locally.”

There is no cost to join the Seedfunders Associate Network and no annual fees or expenses. There is also no obligation to invest in any of the deals. Once you join, the firm will send you investment opportunities and your participation is completely optional. All functionality, including deal docs, signatures, funding, and K-1s has been automated through Sydecar. Read more in South Florida Tech Hub here.

4

Free acceleration program open to Miami-Dade entrepreneurs

Entrepreneur Ready received a $2 million dollar grant from JPMorgan Chase to deploy its How to Start Something Acceleration program in Miami-Dade County and New York City from March to August 2023. The program will fund 300 entrepreneurs in each city who want to start a new business or pivot their business, with a focus on helping small businesses founded by minorities and women residents of Miami-Dade. 

Entrepreneur Ready’s How to Start Something program is a free immersive learning accelerator with an online platform, a step-by-step learning framework, and personalized feedback from entrepreneur coaches. In addition, the program provides access to an engaging online community, weekly live workshops, online office hours, and a community forum where participants build traction and connections. Each participant who completes the program will have de-risked a venture model.

“We have done this program in Westchester, New York, with great success graduating nearly 500 entrepreneurs in two years with multiple economic and social benefits.” says Leonel Azuela,  business development and acceleration coach with EntrepreneurReady.com, and an Endeavor mentor. 

Find more information and apply here.

5

European EV rental company expands to Miami

Ufodrive, a European electric-vehicle rental company, has now expanded to Miami with a fleet of Teslas and other models for people to rent. The car company recently opened locations in Brickell and Wynwood with a fleet of about 20 cars customers can pick up there 24 hours a day. A third Miami pickup site is expected to open soon.

Daily rentals start at $41 and the rate includes charging and insurance.  Edmund Read, Ufodrive’s chief operating officer, told the Miami Herald the allows customers to reserve and pay for the cars without coming in contact with any Ufodrive employees. Read more in the Miami Herald.

6

Opportunity knocks

  • Applications are open for 35 Mules next cohort of innovative startups. The program offers a $100,000 non-dilutive cash grant, world-class facilities, subject matter expertise, Fortune 200 executive coaching, and more. 35 Mules is the first in-house innovation hub backed by a global energy leader, Florida Power & Light Company, located in Juno Beach.  Applications close on March 17, 2023. Apply here
  •  Google for Startups Accelerator Latino Founders are accepting applications until March 12. The program will be based in Miami and is a three-month accelerator program for growth-stage technology startups with at least one Latino co-founder from the United States or Spanish-speaking Latin America. See here for more information.
  • The Miami Herald’s Startup Pitch Competition is accepting entries. To apply, founders) must be South Florida residents, the tech-enabled business must have launched operations no earlier than Jan. 1, 2020, and it must be generating annual revenue of $50K to $1 million. The deadline to submit applications is March 1. Apply here.
  • The 1909 Accelerator Program is taking applications for its 6 month program, which is designed to help early stage founders develop their businesses further along and simultaneously help build meaningful lifestyles. Because profitability is not the only form of success. Apply by March 17.

ICYMI

      Got news? Follow Nancy Dahlberg on Twitter @ndahlberg and email her at ndahlbergbiz@gmail.com

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