By Global Miami Magazine
PHARMA.AERO EXPANDS INTERNATIONAL MEMBERSHIP
Saudia Cargo, the Saudi Arabian air freight flag carrier, has joined Pharma.Aero, a cross-industry platform for healthcare logistics. Saudia Cargo hopes to expand and upgrade its pharmaceutical transportation capabilities using the expertise of Pharma.Aero, which was established in 2016 by Miami International Airport and Brussels Airport to enhance pharma handling and quality in the global air cargo market.
ICC DISMISSES CALL TO MOVE CONFERENCE
Following Florida’s newly enacted anti-immigration law, which allows authorities to charge someone with human trafficking if they knowingly transport an undocumented migrant across state lines, arbitration practitioners called on the International Chamber of Commerce to move its annual conference out of Miami in protest. The ICC ultimately rejected this request, and the conference will be taking place in Miami from November 12 to 14.
LATIN DESIGNERS TAKE OVER MIAMI SWIM WEEK
Miami’s most popular summer fashion event, Miami Swim Week 2023, showcased a large variety of international talent. Among the many Latin designers and brands on display were GIANNINA AZAR, a Dominican and Lebanese fashion designer; CHAVEZ, the brand of Guatemalan designer Antonio Chavez; and Pink Melon Swimwear, a brand created by Cuban-born designer Sandra Santana.
AMERICAN AIRLINES EXPANDS FLIGHTS
American Airlines will establish a second daily nonstop service in December between Miami International Airport and Piarco International Airport in Trinidad. The expansion is part of the island’s plan to increase tourism. The airline is also adding weekly nonstop service to Governor’s Harbor in the Bahamas on Tuesdays and Thursdays starting February 2024, becoming the only U.S. carrier flying nonstop from MIA to Governor’s Harbour. Additionally, in the winter, the airline will increase the number of peak-day departures from MIA to more than 70 destinations in Latin America and the Caribbean, including Liberia, Costa Rica; Cartagena, Colombia; and Tortola, British Virgin Islands.
MIA CIO WINS GLOBAL AWARD
Maurice Jenkins, above center, the chief innovation officer (CIO)
of Miami International Airport, was named the 2023 recipient of the Best Airport Innovation Leader Award by Airports Council International World and Amadeus. This award is one of three technology innovation awards given by the international organization to airports for their exceptional use of technology and leadership.
MIAMI NONPROFIT INTRODUCES PUBLIC INNOVATION CHALLENGE
The Miami-Dade Innovation Authority, a nonprofit that encourages collaboration between local government and tech companies to find innovative solutions to raise living standards for area residents, has announced its first public challenge. The nonprofit is looking for sustainable ways to beneficially repurpose sargassum, a type of seaweed known for creating large floating mats that wash up on beaches during the warm summer months. The Miami-Dade Innovation Authority will select at least three technology start-ups in the early-to-growth stages; each will get a $100,000 grant to support more research and development on ecologically friendly ways to process sargassum.
MIA TO GAIN NEW HOTEL
The Miami-Dade County Commission voted unanimously to award a contract to FDR Miami Hotel LLC, the company that received the highest rating throughout the competitive selection process, to construct a new airport hotel connected to Terminal D. Over the life of the 50-year lease, the FDR project is expected to generate around $240 million in revenue for the county. FDR is a joint venture between The Related Companies, which is chaired by Miami Dolphins owner Stephen Ross, and Fontainebleau Development LLC, a Miami-based company led by Jeffrey Soffer.
CHEWY GOES INTERNATIONAL
Headquartered in Dania Beach, Florida, pet supply retailer Chewy is expanding to its first market outside the U.S. – Canada. Later this year, the brand will launch in the Greater Toronto area before expanding across the country. Chewy reported $2.8 billion in net sales during Q1 of 2023.
LOGISTICS COMPANY GOES GLOBAL
MyFBAPrep is adding around 70 million sqft of warehouse space to its global portfolio, including 17 new facilities in four countries, totaling 85 million-square-feet globally. The Sunrise, Florida-based company provides Fulfillment by Amazon services, which helps third-party sellers use the Amazon.com platform to reach consumers. MyFBAPrep’s technology connects sellers with warehouses for e-commerce fulfillment services worldwide. The company now has more than 100 warehouses across the U.S., Canada, Mexico, the United Kingdom, and Germany.
BILLIONAIRE LAUNCHES NEW VENTURE FIRM
Billionaire entrepreneur Marcelo Claure, shown above, the former CEO of Japanese-based SoftBank Group International, has teamed up with former SoftBank managing partner Mwashuma “Shu” Nyatta to create Bicycle Capital, a new private equity firm with initial commitments of about $440 million. Bicycle Capital I, the firm’s fund, will focus on assisting Latin American entrepreneurs to scale their startups; Claure had spearheaded the launch of Softbank’s $8 billion Latin American Fund. The new firm is primarily funded by Mubadala Investment Company, an Abu Dhabi-based sovereign investor, and the Claure Group. In addition to Latin America, Claure had provided funding to several Miami tech firms through SoftBank’s $100 million Miami Initiative, a program that exclusively invests in Miami companies and ventures that relocate to the city.
UAE DEVELOPER REVEALS SURFSIDE PLANS
Damac International, based in Dubai, United Arab Emirates, has revealed its plans for a new luxury condominium on the site of Champlain Towers South, the condo which collapsed in 2021, killing 98 people. Damac acquired the 1.88-acre site for $120 million in July 2022 from a court-appointed receivership. The new building will have two connected towers 12 stories high, with 57 units ranging from 4,000 to 15,000 square feet. The project is being designed by Zaha Hadid Architects, the world-renowned firm founded by the late Zaha Hadid, which designed the striking One Thousand Museum tower in Downtown Miami.
MIAMI DIGITAL CARGO PLATFORM EXPANDS
Miami-based startup Cargobot, which specializes in digital logistics solutions, has raised $6 million to enhance its technology. Cargo-bot’s digital platform is designed to help shippers move cargo more efficiently. Founded in 2016, Cargobot operates with offices in North America, Spain, and Colombia. Cargobot SaaS, its software-as-a-service arm, is now available in Colombia, Chile, Peru, Saudi Arabia, and Spain. The company, with 80 employees, is supported by $18 million in investor capital.
BILLION DOLLAR SALE CANCELED
The $1.225 billion sale of the former Miami Herald site in downtown Miami has been canceled. The 15.5-acre site was originally purchased in 2011 for $236 million by Malaysia-based Genting Group, which had hoped to develop a casino there. That project was blocked by the Florida legislature, which would not allow gambling there. Now zoned for 60 stories and 21 million square feet (allowing 7,750 residential units), it was announced in May that the property would be purchased by SmartCity Miami LLC, an investment group led by David Martin, the CEO of Miami-based Terra. SmartCity had asked for changes to the agreement which were rejected by Genting.
