News Summary
Florida is experiencing significant growth in its technology sector due to partnerships between the Florida-Israel Business Accelerator (FIBA) and Israeli startups. Since 2016, FIBA has supported over 90 companies, raising more than $1 billion in investments. The influx of Israeli firms has led to job creation in Miami, fostering collaboration across diverse industries such as energy and healthcare. With firms like Apollo Power establishing their U.S. operations in Miami, the future looks bright for tech innovation and economic growth in Florida.
Florida is witnessing a significant expansion in the technology sector, driven by the partnership cultivated between the Florida-Israel Business Accelerator (FIBA) and Israeli startups. Established in 2016, FIBA supports Israeli companies looking to enter the Florida market—with state backing playing a vital role. Co-executive directors Pam Miniati and Rafeket Bachur-Phillips have provided leadership since 2020 and have actively promoted Israeli technology to U.S. markets, investors, and partners.
FIBA has successfully aided over 90 Israeli companies in raising more than $1 billion in investments. Of these businesses, 34 companies have chosen to expand their operations to Florida, with 18 located specifically in Miami. This influx of Israeli tech firms has created 85 high-wage jobs in the Miami area alone, showcasing the economic impact of this international collaboration.
A diverse range of industries in South Florida, including energy, hospitality, healthcare, agriculture, and cybersecurity, have expressed strong interest in Israeli technology. Miniati highlights the importance of hiring local talent who possess knowledge of the South Florida market, ensuring that these Israeli companies can effectively navigate and integrate into the local economy.
Miami’s strategic location serves as a vital gateway to both U.S. and Latin American markets, further enhancing its appeal to Israeli companies. One notable example is Apollo Power, an Israeli solar energy firm, which recently launched its U.S. operations in Miami, viewing the city as a key area for growth. Apollo Power has actively participated in various conferences, such as eMerge Americas and Realcomm, since its Miami expansion in 2024, aiming to increase sales by several million dollars in 2025 while establishing a full operational team.
FIBA also organizes events designed to showcase Israeli tech founders, providing essential networking opportunities in South Florida. This initiative supports local businesses seeking innovative solutions through Israeli technology, fostering collaborations that address regional challenges while enhancing economic growth.
Since its inception, FIBA has emphasized building bridges between Israeli innovators and the Florida business landscape. The program not only supports startups looking for a foothold in American markets but also enhances South Florida’s reputation as a burgeoning tech hub. By focusing on strategic partnerships and facilitating growth, FIBA has carved out a niche that benefits both the Israeli companies and the local economy.
The partnership between FIBA and Israeli startups signals a promising future for South Florida’s technology sector, with the potential for job creation, economic growth, and increased innovation in various industries. The ongoing collaboration represents a successful model of international business integration, highlighting the vast opportunities that lie in expanding into new markets while fostering local talent and capabilities.
As Israeli companies continue to view Florida as a viable market, the influence of FIBA’s initiatives will likely result in further economic benefits and technological advancements in the coming years, establishing Florida as a pivotal location for global innovation.
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