12 Oct Venture Miami Scholarship Program Closes the Gap for Miami Students Pursuing a STEM Education

Mayor Francis Suarez, Venture Miami, The Miami Foundation, and Ken Griffin Partner with UM, FIU, FMU, and MDC to Offer Scholarships Beginning this Academic Year 

October 12, 2022 – Miami – City of Miami Mayor Francis X. Suarez today announced a partnership between Venture Miami (City of Miami) and The Miami Foundation to launch the Venture Miami Scholarship program, with funding from Citadel founder and CEO Ken Griffin. The program provides tuition support to in-need City residents who have been accepted into STEM and other in-demand occupation programs at participating local colleges and universities, including the University of Miami, Florida International University, Florida Memorial University, and Miami Dade College.

“Today marks a momentous milestone for the City of Miami,” Mayor Francis X. Suarez said. “The whole purpose behind the Miami Movement was to create a boundless stream of opportunities for our residents to jumpstart their careers in the economy of tomorrow, and the Venture Miami Scholarship does just that. I am very proud of the whole team at Venture Miami for delivering on an initiative that furthers our mission of building a Miami That Works for Everyone.”

“This effort will help remove financial barriers for students who are pursuing technology, engineering, and science degrees, further accelerating Miami’s path to becoming an international leader in finance and technology,” said Ken Griffin.

“Ensuring that Miami prioritizes equity and opportunities for all is one of The Miami Foundation’s core missions,” said Rebecca Fishman Lipsey, president, and CEO of The Miami Foundation. “The Venture Miami Scholarship will make sure that our growing tech and innovation ecosystem reflects the rich diversity of our vibrant Miami community by putting education and learning into the hands of all those who are our future workforce.”

The program is launching with an initial $500,000 allocation from the City of Miami, which is being matched by Miami Dade College, Florida International University, Florida Memorial University, and the University of Miami. Philanthropist Ken Griffin has issued a bold $1 million challenge grant to build sustainability for this fund, in addition to an initial $250,000 gift. The Miami Foundation is responsible for managing all facets of the scholarship’s funding and execution.

Venture Miami Scholarship will activate for the Spring Semester of the 2022-2023 academic year for students who meet the requirements. For more information about the Scholarship and eligibility, click here.

About Venture Miami

Venture Miami is a team that was assembled by City of Miami Mayor Francis Suarez. The mission and goal of the Venture Miami team is to make Miami the “capital of capital” with an innovative technology ecosystem and economy that delivers for everyone. Our five pillars are (1) provide concierge support for funders & founders. (2) connect talent to jobs. (3) meaningfully promote diversity, equity & inclusion. (4) bridge connections between new-to-market entities and the existing innovation ecosystem. (5) support regional collaboration amongst other local governments, economic development agencies & organizations.

About Miami Foundation

The Miami Foundation builds the philanthropic, civic, and leadership backbone for Greater Miami. Since 1967, the Foundation has invested $505 million to strengthen our community with partnerships and contributions from more than 1,000 fundholders and 35,000 donors. The Miami Foundation, which currently manages more than $427 million in assets, mobilizes donors, nonprofits, leaders, and locals to set a bold vision for our community’s future and to invest in a stronger, more equitable, more resilient Greater Miami. Learn more at MiamiFoundation.org.

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ADDITIONAL QUOTES

Bakkt – Gavin Michael, CEO

“The continued development of STEM talent is instrumental to all industry sectors, but it is especially critical to the crypto economy and our goal of bringing access and utility to digital assets. We’re proud to support this meaningful initiative that will help in-need local STEM students gain significant educational in-roads, while positioning the city of Miami at the center of technology recruiting and career development.”

Yuga Labs  – Nicole Muniz, CEO

“Miami is the hometown of Yuga Labs’ founders and the birthplace of the Bored Ape Yacht Club. Miami brings together arts, culture, tech, and determination to create the greatest web3 community in the world. We are excited to contribute to everything that makes Miami special, starting with expanding access to opportunity through the Venture Miami Scholarship Fund. This contribution is a great first step in our larger commitment to arts and education programs in Miami.”

Miami Dade College – Madeline Pumariega, president

“We are excited to once again collaborate with the City of Miami and partner institutions on impactful strategies to boost STEM education, which is critically important for our region and our country. Creating new opportunities and pathways in technology is one of our main focuses and aligns perfectly with our mission to make education accessible and equitable for all.”

University of Miami – John Haller, vice president for enrollment management

“The University of Miami is a global leader in research, innovation, and technology advancement, and we are in full support of the Venture Miami initiative to grow our community for generations to come. Our connection to the Venture Miami Scholarship partnership with the City of Miami will ensure that the University of Miami will continue to attract and provide an exceptional education to high-achieving students throughout the South Florida community.”

Florida International University – Elizabeth M. Béjar, FIU interim provost, executive vice president and chief operating officer

“As one of the top public universities in the nation, at FIU, we are committed to supporting students who pursue careers in STEM. With so many FIU graduates choosing to launch their careers in South Florida, we are uniquely poised to contribute to the growth of Miami’s tech economy.”

Florida Memorial University – Jaffus Hardrick, President of FMU

“Florida Memorial University continues to add in-demand programs to keep our students at the forefront of emerging technology. We are in support of the Venture Miami initiative with the City of Miami. This partnership will create opportunities for our students, which in turn will benefit South Florida’s growing global innovation and technology market for many years to come.”