Florida’s only Black tech hub has launched a new startup competition for underrepresented tech founders in South Florida.

SPARC South Florida

The Source announced SPARC South Florida, a competition geared toward Southern and Caribbean startups, according to information shared with AFROTECH™.

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“While there are systemic barriers, one thing that we’re doing at The Source is we’re always focusing on solutions, particularly solutions here in South Florida and right where we are in Downtown Miami,” The Source Co-Founder and Partner Hilmon Sorey, an ex-Silicon Valley executive with over 500 companies within his portfolio, told AFROTECH™.

Sorey added, “What we saw was an opportunity for this competition to bring investment and infrastructure directly to founders. So it’s really not just a pitch competition. It’s a launch pad. And the idea is that founders can access tools and funding and the relationships that they need to scale.”

The company was also co-created by Ted Lucas, the founder of independent label Slip-N-Slide Records, who has worked with artists such as Trick Daddy, Trina, Rick Ross, and Plies, as previously reported by AFROTECH™. He has made millionaires in the music industry, and now he intends to do the same within the tech sector.

Lucas pointed to Miami’s booming tech sector, highlighting the arrival of numerous tech companies setting up their main offices in South Florida.

“I think it’s important that we keep locals tuned in to what’s happening,” he told AFROTECH™. “We bring the opportunities to them and let them know that it’s a company here to support locals that give them [the] opportunity to fulfill their dreams, and make sure their company gets a chance to grow in what they’re working on. So that’s why we decided to do it.”

$1 Million Prize

The winner will receive $1 million in equity-free capital and strategic support that includes mentorship and access to media, tech, and entertainment networks. Even finalists who do not walk away with the top prize will still benefit from a business incubator, marketing support, and partnerships with creators and investors.

“I’ve been blessed and fortunate enough to help some people be stars in the music business. Now is my time to help some people with their dreams of their business and what they wanna do and help the company grow and get to the next level,” Lucas told AFROTECH™.

Apply Today

Applications close on July 1. For those interested, click here.