Florida’s only Black tech hub, The Source, has launched SPARC South Florida, a startup competition designed to support underrepresented tech founders in South Florida. The initiative is part of The Source’s mission to focus on solutions to systemic barriers in the tech industry, particularly in Downtown Miami.
Hilmon Sorey, Co-Founder and Partner of The Source, emphasized that the competition is more than just a pitch event. “It’s a launch pad,” Sorey explained. “Founders will gain access to tools, funding, and relationships needed to scale their businesses.” Sorey, an ex-Silicon Valley executive with over 500 companies in his portfolio, highlighted the importance of bringing investment and infrastructure directly to founders.
Ted Lucas, the other co-creator of The Source and founder of Slip-N-Slide Records, brought his experience of making millionaires in the music industry to the tech sector. Lucas pointed to Miami’s thriving tech scene, with numerous tech companies setting up their main offices in South Florida. “We want to keep locals informed about the opportunities available and support them in growing their businesses,” Lucas said.
The competition offers a $1 million prize in equity-free capital to the winner, along with strategic support including mentorship and access to media, tech, and entertainment networks. Even finalists who don’t win the top prize will benefit from a business incubator, marketing support, and partnerships with creators and investors. Lucas expressed his motivation: “I’ve been blessed to help artists become stars in the music business. Now, I want to help entrepreneurs achieve their dreams and grow their businesses.”
Applications for SPARC South Florida are open until July 1. Interested founders can apply by clicking on the provided link.
The initiative underscores The Source’s commitment to fostering growth among underrepresented tech founders in South Florida, providing them with the necessary resources to succeed in the competitive tech landscape.
