06/18/2013

CareCloud raises $20 million in Series B funding

CareCloud-Logo_highresCareCloud, the Miami-based fast-growing provider of cloud-based practice management, electronic health records and medical billing software and services, today announced it has secured $20 million in Series B financing.

The funds will fuel the company’s continued aggressive growth across all business functions, with a focus on product development while also bolstering sales and marketing capabilities, the company announced in a press release. The funding round was led by Tenaya Capital, a venture capital firm with offices in Silicon Valley and Boston, and included existing investors Intel Capital and Norwest Venture Partners. Stewart Gollmer, Tenaya Capital’s Managing Partner, will join CareCloud’s Board of Directors.

Albert_ProfileThis round brings CareCloud’s total funding to $44 million.

CareCloud’s cloud-based platform now powers nearly 3,000 providers in 45 states as medical groups look to improve their operational and clinical outcomes amidst a rapidly changing healthcare reimbursement environment. CareCloud, led by CEO Albert Santalo (pictured here), manages more than $2 billion in annualized accounts receivables on behalf of its clients leveraging its cloud-based revenue cycle management service.

06/17/2013

Susan Amat: 4 leadership tools for startup success

By Susan Amat

AmatI wish I could blame the queasy feeling I have had for the last few months on bad food choices or the blessing of another baby on the way. Entrepreneurial nausea is a common condition experienced by those pushing their limits in the pursuit of some milestone for a venture. The eternal optimism of most founders is the best explanation of why anyone would choose the path of new business creation, which many would consider sadomasochism.

When I started my first real business in high school, I remember feeling sick a lot. I was balancing six advanced placement classes and going out almost every night to see bands and have meetings, so I chalked it up to not sleeping much. Then I spent years developing content, connecting entertainment industry entrepreneurs, and traveling on tour buses, so the rush was always there to keep me focused on building my business rather than questioning the unique (read: crazy) situations that became my norm.

I have to admit that it is scary to be an entrepreneur in startup mode again. Every day is a rollercoaster of emotion. I left the comforts of steady income, a clear role, and a consistent schedule and dove headfirst into the great unknown, which I have the pleasure/pressure of designing and executing every day. I know we are going to be great. My team knows we are going to be great. I am not running for homecoming queen – my role is to lead a team to build the best content and technology to create scalable programs and processes to empower entrepreneurs and support their development, and that is all I do every day.     

      There are four key ingredients needed to create a business that has staying power:

1.  A clear vision. Why does the company need to exist? And what impact will your product or service and team have over the next 20 years on an industry, a continent, or population? If it seems achievable, you aren’t thinking big enough.

2.  Share your vision through your story. The tale of Venture Hive starts 25 years before it opened and has lots of twists and turns. If I wrote my vision without referencing my past, any rational reader would dismiss it as fantasy, but once he knows my values, my love for Miami, and my passion for supporting entrepreneurs, it is hard not to cheer for the underdog.

3.  Lead your team to greatness. This was the biggest hurdle for me to overcome. I love being in a team and working together as equals, but the brave souls who have decided to join me on this journey aren’t there for my friendship. I have to be clear about what I am doing and what their roles are in supporting my vision. Being a leader is lonely but the power contained in the gift of trust that one’s team bestows is enough to fuel a city for 100 years, and makes the impossible feel attainable.

4.  Build a team for sustainability. I hire and develop to create redundancies. My team must breathe life into the seeds I planted or else our growth will be limited by dependencies.

If you want to change an industry, a mindset, or millions of lives, be prepared for battle every day. Having to be strong is exhausting – for my team, my family, and for the entrepreneurs who call Venture Hive home.

What keeps me going, with a smile at least 80 percent of the time, are the founders that we support. And if you are addressing a problem, providing a solution that transforms lives, your drive will overpower the doubts that may surface, including the notions that seem innocent and rational but can usurp the confidence that an entrepreneur musters daily. If we don’t do it, who will?

“The people who are crazy enough to think they can change the world are the ones who do.” – Apple Inc.

Susan Amat is the founder of Venture Hive. You can follow her on Twitter at @susanamat.

Read more here: http://www.miamiherald.com/2013/06/16/3454576/susan-amat-four-key-ingredients.html#storylink=cpy

06/16/2013

Entrepreneurship Datebook

Here is a sampling of events coming up the next week.

GEEKTANK: Four startups present at the MIT Enterprise Forum’s “GeekTank” event Tuesday, June 18, from 6:30-9 p.m. at Citrix. Free for startups and students. Register here:  geektank2013.eventbrite.com/.

PATENT PROTECTION: SCORE Miami-Dade workshop on this critical topic is at 8 p.m. Tuesday, June 18, at the SBA Office, 100 S. Biscayne Blvd., Miami. $30. Register:  miamidade.score.org

BRANDING: Tools for Better Management workshop by Project Lift Miami on Thursday, June 20, at the UM Life Science and Technology Park. $5. More info:  lift1428.com/accelerating.html

WILL IT LAUNCH? Femgineers workshop at Broward College on Saturday, June 22, 9 a.m.-1 p.m., will address brainstorming, validating and attracting early adopters. Presenter: Poornima Vijayashanker of Mint.com and Bizeebee. $45. Register: meetup.com/⊗Femgineers/events/123234732/

LA IDEA EN ACCION: Free workshop in Spanish will help with penetrating foreign markets using the best available funding tools. Saturday, June 22, 9 a. m.-1 p.m., United Way of Miami Dade, Ryder Room, 3250 Southwest 3rd Ave., Miami, Register:  LaIdeaEnAccion.eventbrite.com

Read more here: http://www.miamiherald.com/2013/06/16/3455104/entrepreneurship-datebook-and.html#storylink=cpy

Startup Spotlight: Viewabill

VIEWABILL

3Xkdu_Em_56Headquarters: Miami; Columbus, OH

Concept: Viewabill is a cloud-based technology that allows clients using service professionals such as attorneys and accountants to see their hourly billing and time entries in real time. That way, when the bill arrives, the client already knows exactly what to expect. No surprises. No sticker shock.     

Story: Co-founders David Schottenstein (pictured here), a 29-year-old Bal Harbour serial entrepreneur who founded and sold custom clothier Astor & Black, and Robbie Friedman, an attorney in Ohio, have been friends since childhood. They began working together as attorney-client a few years ago and were inspired to fix the industry’s antiquated billing system. Attorney, author and Harvard law professor Alan Dershowitz, who has defended high-profile clients such as O.J. Simpson and Mike Tyson, was so impressed that he became a Viewabill co-founder.

Launched: March 2013

Management team: David Schottenstein (co-founder and co-CEO); Robbie Friedman (co-founder and co-CEO); Alan Dershowitz (co-founder/advisor); Daniel Hoffman (chief technology officer)

No. of employees: about 20

Financing: $5 million from private investors

Recent milestones reached: Viewabill has recently integrated with more than 100 law firms, as well as large accounting firms, and has more than 200 in the pipeline. In South Florida, the company has already integrated with the largest firms, Schottenstein said, and is particularly excited about its new relationship with Greenspoon Marder. Users currently number more than 10,000.

Biggest startup challenge: Law firms are not used to this type of transparency. “Our biggest challenge is convincing them this is a positive step and will tremendously benefit their client relationships. Some firms react quickly; others won’t adapt until clients demand it,” said Schottenstein. “If a firm values relationships with its clients, there is no issue.”

Next step: To continue building strategic alliances. “Our team is emphasizing that clients don’t need to wait on their law and accounting firms to offer Viewabill. They can sign up and request it at any time.”

Advice for next step: Dershowitz, who lives in Miami Beach part of the year, believes it’s just a matter of time for tradition-steeped law firms to come around. “We need to keep asking why not?” said Dershowitz, adding that by offering transparency and accountability, it’s a win-win for clients and the firms. “This will become the norm in the next few years. I like to encourage young entrepreneurs who have good ideas — and this is a good idea.”

Nancy Dahlberg

To have your company considered for inclusion in Startup Spotlight, email businessmonday@miamiherald.com

Read more here: http://www.miamiherald.com/2013/06/16/3454443/startup-spotlight-viewabill.html#storylink=cpy

06/14/2013

Why Puerto Rico's emerging tech community is poised to take off

PrIMG_2786

By Brian Breslin

09112012Brian_Breslin-139-retouched-smallA few months back my friend Giancarlo Gonzalez, the new CIO of Puerto Rico, approached me to discuss the emerging tech community in Miami that I’m a part of.  The conversation quickly shifted to the parallels between the San Juan community and the Miami one. Many things the Puerto Rican community was facing were issues Miami and South Florida faced a few years back. Lack of access to capital, lack of government support, and challenges with starting companies were among the chief issues facing both communities, and some of which we have managed to tackle here in Miami.

Fast-forward to last week and a small contingent of Miami geeks (Brian Breslin & Peter Martinez of Refresh Miami, Wifredo Fernandez & Willie Avendando of LAB Miami, Stonley Baptiste, & Richard Bookman of UM) were on our way to San Juan to help with the Puerto Rico Tech Summit civic hackathon and share our experiences building our community as well.  Hundreds of hackers from all over Puerto Rico, the continental USA, and a number of Caribbean nations were grabbing data streams made possible by the CIO’s office and mashing them together to solve problems that were facing every day Puerto Ricans.

Pr2IMG_2782These hackers whom we were there to support and advise had been forming teams and working their ways through all the various APIs (Application Programming Interface) provided by the commonwealth’s government. They came ready to win and compete. There was no cash prize or other incentive to participate other than the opportunity to improve their community in a meaningful way and meet their fellow techies.  The “hacks” produced ranged from solutions to solve absenteeism in schools, to mapping crime data, to solving public transportation scheduling.  The fascinating thing is the types of solutions ranged from smart phone applications to some as “low-tech” as text-messaging services for schools to monitor attendance.  In Miami  and other mainland US hackathons, people are typically targeting their own peers with their solutions so they build bandwidth and smartphone intensive solutions; the Puerto Rican solutions were designed to work even with the lowest common denominators, feature phones and sms. The portability of these solutions becomes apparent when you think about their potential utility in developing nations worldwide.

The whole event was organized by the government but it was decidedly FOR the community, not at all self-serving or an effort to pat themselves on the back.  The Tech Summit was actually an interesting cross-section of enterprise computing players and startup people meeting and becoming aware of one another. Rarely do we see events that cater to both the startups and the corporate giants they often compete with.

Puerto Rico, or at least San Juan, has the framework in place to grow its community in ways that very few Latin cities have.  Puerto Rico has US benefits as well as numerous corporate tax and R&D incentives to boot. With the support the local government is showing for the community (there are a few coworking and incubator spaces in the works in San Juan as well as financial assistance for
startups) and the low cost of living paired with access to the US market (don’t forget they are part of the United States), Puerto Rico’s startup community is poised to explode in the next few years.

Hopefully we were able to share enough of our experiences with the Puerto Rican community to help them avoid our missteps and thrive. I sincerely hope we hear more about collaboration between Miami and San Juan in the near future.  As the self-proclaimed gateway to the Latin American community, it only makes sense we start with our brethren to the south.  I’ll definitely be going back to San Juan. Hopefully you’ll join me in connecting with our hermanos in the Caribbean.

Brian Breslin is the founder of Refresh Miami, Infinimedia and Maker Market

06/13/2013

John Kunkel honored as a E&Y Florida Entrepreneur of the Year

Miami foodies know John Kunkel for his crispy friend chicken (Yardbird), tangy northern Thai delicacies (Khong River House) , smokey brisket (Swine) and healthy cheap Mexican eats (Lime Fresh.) The founder and CEO of the 50 Eggs group is also a freshly awarded Ernst & Young Florida Entrepreneur of the Year in the hospitality category. (He previously was honored as one of the Miami Herald’s 20 Under 40.)

The winners in the highly regarded annual competition were named Thursday night by the consulting and accounting firm. Honorees will compete in national competition.

Other winners were:

•  Emerging category: Naomi Whittel, chief executive officer and founder, Reserveage Organics, Boca Raton

•  Services category: Philip Anson, Jr., chief executive officer, STS Holdings., Inc. Jensen Beach

•  Distribution and Manufacturing category- R. Charles Murray, chief executive officer, PPi Technologies Group/Redi-2-DrinQ Group, Sarasota

•  Family Business category: Wayne Johnson, chief executive officer, Accuform Manufacturing, Inc., Brooksville

•  Financial Services category: Trevor Burgess, chief executive officer, C1 Bank, Saint Petersburg

• Retail and Consumer Products category: Norbert P. Donelly, chairman, Tervis, North Venice

•  Te chnology category: Dan Doyle, Jr., president and chief executive officer, DEX Imaging, Tampa

•  Health Care category: Mark Montgomery, president and chief executive officer, Axium Healthcare Pharmacy, Inc., Lake Mary

SFTA launches website with community resources, expands agenda

The South Florida Technology Alliance announced today that it is launching an expanded agenda and a multi-year campaign to promote South Florida as a major emerging tech center.

The first change, unveiled today, is a  new, comprehensive website that aims to serve as a central information portal for the technology community. It includes links to companies, academic institutions, business and technology organizations, funding groups, governmental  programs and additional resources, a calendar for events throughout the region and a blog. That website can be reached through the SFTA website at www.southfloridatech.org or directly at www.sftechinfo.org.

 “The mission of the SFTA is to help its members learn about the business of technology and connect with others who share similar interests, as well as promote the growth, success and awareness of the South Florida regional technology community,” said SFTA President Lonnie Maier. “In the past we have done that through events, networking, programs and education. This campaign will enhance our programs and extend them to cover the full spectrum of high technology including IT, Life Sciences, medical devices and clean technology. Over time, we will add new programs to assist the technology community to learn, connect and grow.”

SFTA’s approach is to work with all groups from Miami-Dade through St. Lucie County to support the regional technology community, said Maier. For instance, in addition to the 10-plus major events it produces a year, SFTA could do a joint event with IT Women, said Maier. The  next stage of the SFTA’s efforts will be to create additional councils, such as for CEOs, CFOs, sales and marketing, renewable energy and life sciences, and each of those councils could host additional gatherings and provide community resources. “Our goal is to grow jobs,” Maier said.

SFTA, which has about 100 members and has an office in the Technology Business Incubator at the Research Park at FAU, has partnered with Next Horizon Communications of West Palm Beach to facilitate this campaign. Next Horizon is a communications strategy firm experienced in building high technology centers of excellence.

Startups on stage: Kairos selected for ‘WSJ Startup of the Year’ video documentary series


Kairos-logo-icon-white-rgb-200pxLater this month and continuing through much of the year, the world will be able to follow a Miami-based startup’s journey. And reality-style, viewers will have a chance to help vote the startup to the top.  

Kairos, which brings facial recognition technology to workplaces in a variety of ways, is one of 24 startups chosen by Wall Street Journal editors to participate in the first  'WSJ Startup of the Year,' an episodic video documentary for WSJ Live, the Journal's online video platform. The series premieres June 24.

According to the Journal, the series matches the 24 startups with global business leaders and tracks their progress from startup to success over the course of five months. Throughout the series, WSJ editors, working closely with the business leaders and strongly considering viewer votes, will narrow down the field to one “Startup of the Year.”  

Sir Richard Branson, founder of Virgin Group, Steve Case, chairman of Startup America and co-founder and former CEO of AOL, and Tory Burch, CEO of Tory Burch LLC, are among the global business leaders participating in WSJ Startup of the Year.

BrackeenphotoAccording to Brian Brackeen, co-founder and CEO of Kairos, each week, the show will include videos submitted by the startups that show the real ups and downs of startup life. There will also be periodic live events where the startups will meet with the business leaders, and those interactions could also be  included in the episodes.

Brackeen explained that the process started about four months ago, originating with encouragement from and connections with NewME, a Google-backed San Francisco accelerator his team participated in last year. After an extensive interview process that included several submissions, the 24 startups were notified a couple of weeks ago and the startups were just announced yesterday.

“We’re geeky excited here," Brackeen said Thursday morning, during some filming. "We are making the most of the opportunity.”

So how does a startup rev up for this? With a lot of community involvement, of course. Brackeen is working with five interns from the Posse Foundation, some of them with media backgrounds, and they are all helping with this project. He has also hired the Max Borges Agency for coaching and promotion expertise.  Much of the taping has been going on at The LAB Miami, where Kairos is now based.

Brackeen said he is currently raising a seed round and plans on raising a Series A in the fall, so he believes the exposure will help with that -- Kairos and the other startups will be featured across
all of the WSJ platforms including print, television and online.

The 24 startups, from a wide range of industries, were chosen from more than 500 applications. Each startup is U.S.-based, has a prototype or proof of concept in place, and less than $10 million in annual revenue.  Brackeen describes the stage of Kairos as firmly in the seed stage, currently bringing in about $500K in annual revenue and projecting about $3 million for next year. “Our stage is 'on the way',” he said.

Read more about the other companies selected here and  watch WSJ Startup of the Year's sizzle reel, its trailer, and the series beginning on June 24 here: wsj.com/startupoftheyear

 

06/11/2013

Jerry Haar leaves FIU Pino Center post

Jerry Haar photoJerry Haar has resigned as director of Florida International University's Pino Global Entrepreneship Center but will remain a professor at FIU's College of Business and a senior fellow at the Pino Center. 

Haar said he is looking forward to returning to teaching, spending more time on research -- he is writing a book on nnovation in emerging markets with a colleague at Georgetown -- and devoting more time to community engagement. He is particularly excited about an initiative he is working on with the Beacon Council's One Community One Goal to explore creation of a design and fashion incubator in Miami-Dade County. He also said he is also considering launching a boutique healthcare consulting company with several colleagues.

During Haar's two-plus years at the helm of Pino, the center significantly expanded its Americas Venture Capital Conference, added to the center's programming, such as the addition of webinars and "Coffee Breaks" for entrepreneurs as well as more workshops, and expanded partnerships within the community, including with SCORE Miami-Dade and MapYourStartup.com.

On a personal note, Jerry and the Pino Center have been a strong partner of the Miami Herald's Business Plan Challenge, one of my projects, for more than three years now. The Pino Center is our presenting sponsor, and I am grateful for the help and guidance we've received and will continue to receive from the Pino Center. 

06/10/2013

Brookings study: Miami area ranks low for share of STEM jobs

Jobs requiring knowledge in science, technology, engineering or math — known as STEM jobs — are a much broader and more diverse part of the national and regional economy than many people think, according to a new study. But the survey also shows that South Florida — with a higher unemployment rate, lower median household income and far fewer patents per capita than the nation as a whole — also trails in the share of STEM jobs.

Nationally, 49 percent of the STEM jobs are filled by workers with an associate’s degree or less education, according to a  report released Monday by the Brookings Metropolitan Policy Program. As of 2011, 20 percent of all jobs, or 26 million in total, required a high level of knowledge in any one STEM field. This compares to previous estimates of 4 to 5 percent from the National Science Foundation and others, the study’s authors said.

“The Hidden STEM Economy” presents a new portrait of STEM workers nationally and across metropolitan areas. Previous studies classify workers as STEM only if they worked in a small number of professional occupations. The Brookings definition classifies occupations according to the level of knowledge in STEM fields that workers need to perform their jobs, so many non-professional jobs in manufacturing, healthcare and construction could be STEM jobs, the report said.     

       In the Miami-Fort Lauderdale-Pompano Beach metropolitan area, 51 percent of the STEM jobs required an associate’s degree or less, the study found. In this region, 372,000, or 17.9 percent of all jobs, were classified as STEM jobs, but that share ranked Miami 81st out of 100 large metro areas. Miami and its largely tourism-based economy also ranked in the bottom 10 of 100 large metro areas for its overall STEM ranking, according the report. Las Vegas ranked the lowest.

“We find that half of all STEM jobs require an associate’s degree or less — these types of jobs deserve more respect,” said Jonathan Rothwell, associate fellow and author of the report. “The students who embark on these career tracks aren’t getting the same level of support as the higher tracks. You can see that in federal funding, you can see that in state and local funding. But these workers are most likely to stay in the area and help the local economy.”

The report notes, for example, that in South Florida there were 79,200 health diagnostics and treating practitioners — nearly 20 percent of all STEM jobs in the region — and just 36 percent of those jobs required a bachelor’s degree. Similarly, there were 19,000 health technologists and technicians; only 10 percent required a bachelor’s. Other fields, such as construction trades, mechanics and electrical repairers, represented more than 30,000 STEM jobs and required no four-year degree.

Local efforts are underway to bolster the STEM economy.

Heather Belmont, dean of the School of Science at Miami Dade College, said MDC has “taken a strong position in strengthening STEM offerings across the board,” citing associate and certificate offerings in biotechnology, bioinformatics, clean tech, lean manufacturing, forensic science, electronics technology, nuclear technology (a program run with FPL) and most recently, mobile technology. She said the college has been adding STEM programs steadily in the last five years or so, and is seeing strong demand.

“What’s really fabulous about our programs is we work directly with our industry advisory committees,” said Belmont. “Our students do get good jobs with associate degrees or certificates, and some continue on at night to get their bachelor’s” at MDC.

It pays to have STEM skills. In South Florida, STEM workers with a bachelor’s degree or more education earn an average salary of $82,652, compared to $65,272 for non-STEM workers with at least a bachelor’s, according to the Brookings study. Sub-bachelor’s level STEM jobs also provide relatively high wages, paying $51,109 on average compared to $30,178 for similar level sub-bachelor degree workers outside of STEM fields.

As expected, tech hubs such as Silicon Valley, Seattle, Boston and Washington D.C. scored well in the report for STEM jobs at all levels. Yet Florida’s Palm Bay-Titusville-Melbourne region ranked highly because of its significant aerospace presence; and energy-oriented metro areas like Houston also ranked highly.

The current narrow definition of STEM has serious funding implications, according to the study’s authors. Of the $4.3 billion spent by the federal government on STEM education, only one-fifth goes to support education or training below the bachelor’s degree level. Such limited funding makes it harder for young workers to receive training in STEM careers like technicians and craft trades and for older adults to sharpen their skills through continuing education, the study said.

“There’s much to be said for the four-year degree, that’s great, but two-thirds of young people are not completing bachelor’s degrees,” said Rothwell. “Will they be condemned to low-paying, low skill, low growth jobs or is there a career path for decent paying jobs? We think there are a lot of jobs for them in the STEM economy.”

Follow Nancy Dahlberg on Twitter @ndahlberg

Read more here: http://www.miamiherald.com/2013/06/10/v-fullstory/3442597/study-miami-area-ranks-low-for.html#storylink=cpy