500 Startups to open accelerator in Miami, its first in U.S. outside Bay Area

500 Startups is preparing to open an accelerator in Miami, its first U.S. startup-mentoring facility outside the San Francisco Bay Area.

The firm, which announced the news in a blog post, said it hoped the outpost would help connect Silicon Valley to south Florida, the East Coast and Latin America.

500 Startups has invested in Miami for more than five years without an office there. It also has run periodic Series A mentoring programs out of a temporary location in the past.

The firm said its Miami initiative will offer two- to three-month accelerator programs, two-day bootcamps, as well as demo days and one-day courses on angel and early stage investing.

“We believe Miami is a key market for us to double down on,” 500 Startups CEO Christine Tsai said in the blog post.

The firm’s effort attracted a grant from the Miami Downtown Development Authority.

500 Startups operates an accelerator in San Francisco and Mexico and has run periodic mentoring programs elsewhere, including in Los Angeles. It formerly ran an accelerator in Mountain View, California.

Photo of Miami sign on beach courtesy of filipefrazao/iStock/Getty Images.