What: Silicon Valley venture 500 Startups, a capital seed fund and startup accelerator, is about to launch a 10-week growth marketing program in South Florida beginning Sept. 28.
Why it matters: Startups accepted into the program with “growth as a mindset” will be in the post-seed stage and have previously raised at least US$150,000 in funding from other investors.
Silicon Valley venture 500 Startups, a capital seed fund and startup accelerator, is about to launch startup growth-marketing program in Miami.
The organization announced on thursday that it will launch a 10-week growth marketing program in South Florida beginning Sept. 28. The program is supported by partners John S. and James L. Knight Foundation, the Simkins Family Foundation, Softlayer and Building.co, a new collaborative space for tech companies in downtown Miami, where the Miami Distro Program will take place.
In March, 500 Startups together with its founder Dave McClure brought its PreMoney conference to Miami, its first incursion outside Silicon Valley with that event. Cesar Salazar, Venture Partner of 500 Start Ups in Mexico City, was a speaker in the 2014 edition of the Portada LatAm Summit.
The time is perfect, as during the last couple of years Miami and Latin American startup ecosystems has continued to mature, with more companies emerging in the region and more money to fund them.Therefore, 500 Startups believes it is a good time to launch its new Miami Distro Program (distro is 500 slang for distribution or customer acquisition.)
The organization’s staff and mentors will fly from Silicon Valley, Mexico, Argentina and Brazil to administer the program, guiding and funding its first batch of invited startups focused on scaling customer acquisition, retention and revenue.
Startups accepted into the program with “growth as a mindset” will be in the post-seed stage and have previously raised at least US$150,000 in funding from other investors. They will likely be five to eight teams from South Florida, Latin America or elsewhere that want to target the Latin America market and/or the U.S. Spanish-speaking market from Miami. The companies have not been selected yet but will be identified through recommendations and introductions from its global network of 3,000 founders and mentors.
Participating companies will receive US$150,000 to US$250,000 in funding from 500 Startups, with US$50,000 of that allocated to the Distro program fee and another US$50,000 earmarked for growth marketing spending. The Distro Program will be staffed with four to six mentors on site, and additional topic-specific mentors will be flown in or available remotely throughout the program.
500 partners and mentors will also hold meetups for the greater community. Many of 500 Startups’ growth marketing programs also will be available to the public on its YouTube channel.
This is the first 10-week Distro Program for 500 Startups, which has a portfolio of 1,200 investments in over 50 countries, including more than 100 in Latin America.
“It is so easy to convince everyone to go to Miami,” said Bedy Yang, a 500 Startups partner. While 500 leaders have been in and out for events, “it will be great to be able to spend a lot more time there. We’re quite happy. You’ll be seeing a lot more of us.”