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The multiyear commitment from JPMorganChase aims to bolster Miami’s entrepreneurship ecosystem by accelerating the growth of local entrepreneurs and startups.
Northeastern University has received a $200,000 commitment from JPMorganChase to support entrepreneurial programs on the Miami campus.
Through the university’s Miami Innovation Academy fellowship program and the Next Level X Northeastern programs, the multiyear commitment aims to bolster Miami’s entrepreneurship ecosystem by accelerating the growth of local entrepreneurs and startups.
The announcement was made during NextLevel X Northeastern, a day-long workshop that brought together more than 100 diverse, early-stage founders, operators and small business owners to build their skills and networks in the region’s rapidly evolving economy.
“Northeastern University in Miami is deeply committed to helping advance South Florida’s innovation and small business ecosystem,” said Maria Alonso, regional dean and CEO of the Miami campus. “Our partnership with JPMorganChase will allow us to reach more entrepreneurs, providing them with the resources that will put them on a path to growth and success.”
Northeastern’s Miami Innovation Academy addresses the challenge of equitable growth through its fellowship program for diverse founders at various stages of their venture journey. The program connects these founders to valuable resources, including leaders from academia, venture capital, private equity, hedge funds and experienced CEOs, with the goal of helping them accelerate their ventures.
For example, an entrepreneur in the first cohort of MIA fellows started a cleantech company that has raised $20 million in seed funding.
Miami ranks eighth in the country for early-stage venture deal count — up four spots over the last decade, according to J.P. Morgan’s recently released Startup Insights report. The market’s median pre-money valuation has doubled over the past five years, from $8.5 million to $17.5 million, reflecting the maturing of the Miami startup ecosystem from primarily a crypto hotspot during the COVID-19 pandemic to a legitimate tech hub.