Deep in the wild, frozen woodlands of Michigan’s Upper Peninsula, it seems that even the scientists are a different, heartier breed of human. A few years ago, Seth Donahue, an associate professor in biomedical engineering at Michigan Technological University in Houghton, MI, decided to gather a few of his bravest grad students and sneak into … Continue reading “From the Caves of Michigan’s Sleeping Bears Comes Kalamazoo’s Aursos, and a Possible New Drug for Osteoporosis”
Author: Howard Lovy
Howard Lovy is a veteran journalist who has focused primarily on technology, science and innovation during the past decade.
In 2001, he helped launch Small Times Magazine, a nanotech publication based in Ann Arbor, MI, where he built the freelance team and worked closely with writers to set the tone and style for an emerging sector that had never before been covered from a business perspective. Lovy's work at Small Times, and on one of the first nanotechnology-themed blogs, helped him earn a reputation for making complex subjects understandable, interesting, and even entertaining for a broad audience. It also earned him the 2004 Prize in Communication from the Foresight Institute, a nanotech think tank.
In his freelance work, Lovy covers nanotechnology in addition to technological innovation in Michigan with an emphasis on efforts to survive and retool in the state's post-automotive age. Lovy's work has appeared in many publications, including Wired News, Salon.com, the Wall Street Journal, The Detroit News, The Scientist, the Forbes/Wolfe Nanotech Report, Michigan Messenger, and the Ann Arbor Chronicle.
Belle Capital to Launch Michigan Fund for Startups with Women in Charge
Lauren Flanagan believes that “making money is beautiful.” This is not to be confused with the “greed is good” adage of the famous fictional Gordon Gekko. No, what Flanagan is referring to is the name of her newly formed Michigan-based early-stage fund, Belle Capital. The fund of up to $25 million is planning a formal … Continue reading “Belle Capital to Launch Michigan Fund for Startups with Women in Charge”
Michigan Launches New $120M VC Pool to Spur Investments in State Tech Startups
The state of Michigan has launched a new $120-million venture capital pool that will invest in seed and early-stage venture capital funds that in turn invest in high-tech companies in the state. Venture firms that receive money from the Venture Michigan Fund II will be required to invest at least as much in Michigan-based companies … Continue reading “Michigan Launches New $120M VC Pool to Spur Investments in State Tech Startups”
As Auto Industry Goes Electric, Michigan Startup Wants to Dot Nation with PEP Stations
As if to place an exclamation point on the electrification of the auto industry, the Chevy Volt was named the North American Car of the Year yesterday at the 2011 North American International Auto Show. But many here in Detroit are wondering when the missing pieces to this fast-approaching Auto Industry 2.0 are going to … Continue reading “As Auto Industry Goes Electric, Michigan Startup Wants to Dot Nation with PEP Stations”
GM Ventures Invests $5M in Powermat, Gets Exclusive Right to Wireless Chargers for Year
General Motors is not only an investor in wireless charging startup Powermat, it will also be its exclusive automotive customer for a year. GM Ventures, the Detroit automaker’s venture capital arm, has invested $5 million in Powermat to help push the Commerce Township, MI-based company’s products into GM cars, including the gas-electric hybrid Chevy Volt. … Continue reading “GM Ventures Invests $5M in Powermat, Gets Exclusive Right to Wireless Chargers for Year”
Ann Arbor Fuel Cell Developer Adaptive Materials Acquired by Ultra Electronics Holdings
Adaptive Materials, an Ann Arbor, MI-based developer of solid oxide fuel cells for use by the military and in recreational vehicles, has been acquired by UK-based Ultra Electronics Holdings. Adaptive Materials announced in a news released today that it will continue to develop and manufacture its propane-powered fuel cell systems from its current Ann Arbor … Continue reading “Ann Arbor Fuel Cell Developer Adaptive Materials Acquired by Ultra Electronics Holdings”
Aursos Raises $40K for Osteoporosis Treatment
Aursos, a Kalamazoo, MI, company that uses a protein found in black bears to try to prevent bone loss in people who suffer from osteoporosis, has raised $40,000 toward a $230,000 round of debt, rights and securities, according to VentureWire. In March, VentureWire reported the company raised $60,000 toward a $740,000 equity round. Previously, the … Continue reading “Aursos Raises $40K for Osteoporosis Treatment”
The Story of Detroit Added Some Significant Chapters in 2010; Here Are 10 of Them
When Xconomy Detroit launched in April 2010, I wrote that this city is a verb, in a constant state of action, of “becoming,” of striving for something greater. Having lived in Michigan for much of my life, I can say that this was true even in good times, and certainly even more so in bad. … Continue reading “The Story of Detroit Added Some Significant Chapters in 2010; Here Are 10 of Them”
Automation Alley Chief Named Trade Adviser
Ken Rogers, executive director of Automation Alley, the Troy, MI-based technology business association, has been appointed to a trade advisory panel by U.S. Secretary of Commerce Gary Locke. Automation Alley, in a news release, says Rogers will serve on the Industry Trade Advisory Committee on Information and Communications Technologies, Services, and Electronic Commerce. He will … Continue reading “Automation Alley Chief Named Trade Adviser”
Blue Spark Attracts Another $5M
Blue Spark Technologies, a Westlake, OH-based company that makes printed batteries for flexible electronics, among other applications, has raised an additional $5 million in B-round funds from non-institutional investors, VentureWire reports this morning. The company had raised $2.5 million in two earlier closes of the B round. Those previous investors were Early Stage Partners, which … Continue reading “Blue Spark Attracts Another $5M”
Ann Arbor’s Shepherd Intelligent Systems Hopes to Move to the Front of the Bus in GPS Fleet-Tracking Biz
If you’ve ever taken a bus … anywhere … then you know all about an unwritten Law of Motion that goes something like this: A body that arrives at a bus stop tends to stay at rest. A long time. A Second Law might state that the velocity of the bus’s arrival is in inverse … Continue reading “Ann Arbor’s Shepherd Intelligent Systems Hopes to Move to the Front of the Bus in GPS Fleet-Tracking Biz”
Simms named Ann Arbor SPARK CEO
Ann Arbor SPARK, a Michigan regional business incubator, has appointed Skip Simms interim president and CEO, replacing Michael Finney, who was named today as the new director of the Michigan Economic Development Corp. by Governor-elect Rick Snyder. Simms previously served as Ann Arbor Spark’s vice president for entrepreneur business development as well as manager of … Continue reading “Simms named Ann Arbor SPARK CEO”
Aastrom Announces $22.5M Public Offering to Help Fund Stem Cell Trials
Aastrom Biosciences, an Ann Arbor, MI-based biotech company developing experimental adult stem cell therapy, announced this morning a $22.5 million public offering at a purchase price of $2.25 per unit. Aastrom (NASDAQ: ASTM) plans to use the proceeds for research and development expenses, according to a news release. As Luke Timmerman, Xconomy’s national biotech editor, … Continue reading “Aastrom Announces $22.5M Public Offering to Help Fund Stem Cell Trials”
FamilyMint, Fusion Coolant Systems, Shepherd Intelligent Systems Awarded Michigan Microloans
Three Michigan companies have received a combined total of $145,000 through the Michigan Microloan Fund Program, managed by the Ann Arbor Spark business incubator, bringing the total amount invested through the fund to more than $1.8 million since it was launched in July 2009. Microloans available through the fund range from $10,000 to $50,000 and … Continue reading “FamilyMint, Fusion Coolant Systems, Shepherd Intelligent Systems Awarded Michigan Microloans”
Bill Allowing 25% Tax Credits For Angel Investors Heads For Michigan Governor’s Signature
Michigan’s angel, venture capital and entrepreneur communities are hailing this week’s passage by the state Legislature of tax breaks for angel investors. The bill, passed by both houses and expected to be signed into law by Gov. Jennifer Granholm, gives angel investors a 25 percent tax credit over two years, with a maximum of $250,000 … Continue reading “Bill Allowing 25% Tax Credits For Angel Investors Heads For Michigan Governor’s Signature”
Mobile Sign Language Startup Not Tone-Deaf to Ann Arbor Area’s Promise
When Mobile Sign Language Systems won an Ann Arbor Spark business plan competition last summer, and as a result got incubator space and other services, the University of Michigan-spawned startup was able to survive a crucial year of development. “I don’t think that our business would have been moving in the direction it’s going if … Continue reading “Mobile Sign Language Startup Not Tone-Deaf to Ann Arbor Area’s Promise”
Ambiq Micro To Move From Michigan, Says Talent is in Texas
Ambiq Micro, an Ann Arbor, MI, startup developing low-power microcontrollers for smart credit cards and ultralong-life sensors for homes and buildings, is moving out of its lab space at the University of Michigan to new offices in Austin, TX. The decision, first reported by AnnArbor.com, comes just a few days after Ambiq Micro announced it … Continue reading “Ambiq Micro To Move From Michigan, Says Talent is in Texas”
Snyder Picks SPARK CEO for Transition
Michigan Governor-elect Rick Snyder has chosen Ann Arbor SPARK CEO Michael Finney to lead the economic strategy for his transition team. AnnArbor.com is reporting on speculation that Finney might also become the next head of the Michigan Economic Development Corp. (MEDC). Ann Arbor SPARK is a regional economic development group and company incubator. Snyder is … Continue reading “Snyder Picks SPARK CEO for Transition”
Ambiq Micro Gets $2.4M to Develop Ubiquitous Microcontrollers for Smart Credit Cards, Homes
Ambiq Micro, an Ann Arbor, MI, startup developing low-power microcontrollers for smart credit cards and ultralong-life sensors for homes and buildings, has attracted $2.4 million in seed funding, the company announced yesterday. The money comes from lead investor DFJ Mercury, along with ARM, Draper Fisher Jurvetson, Cisco, The Frankel Fund, Huron River Ventures, and a … Continue reading “Ambiq Micro Gets $2.4M to Develop Ubiquitous Microcontrollers for Smart Credit Cards, Homes”
Ann Arbor’s BodegaBid Bets There’s Real Profit in Virtual Currency
Mark Sendo of Ann Arbor, MI, is not into reality. Oh, the founder and CEO of BodegaBid says he briefly tried reality last spring, when his company partnered with a Seattle startup called Beer2Buds and let holders of virtual cash buy their friends a beer in the real world. But the three-year-old BodegaBid ended that … Continue reading “Ann Arbor’s BodegaBid Bets There’s Real Profit in Virtual Currency”
Arboretum Invests in Pathology Company
Arboretum Ventures, based in Ann Arbor, MI, is a co-leader in a $10-million Series B financing round for Irvine, Calif.-based PathCentral, an anatomic pathology services company, according to a report today in peHUB. PathCentral says the money will be used to enhance its web-based laboratory information system, among other things. Joining Arboretum in the round … Continue reading “Arboretum Invests in Pathology Company”
Michigan’s Renaissance “Fund of Funds” Closes at Nearly $50M, Ready to Make Connections Between VCs and Entrepreneurs
To Chris Rizik, one of the best things about yesterday’s announced final close of nearly $50 million in investment funds for the Renaissance Venture Capital Fund is that the money comes with no government strings attached. “There’s not one government dollar in this,” says Rizik, CEO of the Detroit and Ann Arbor, MI-based “fund of … Continue reading “Michigan’s Renaissance “Fund of Funds” Closes at Nearly $50M, Ready to Make Connections Between VCs and Entrepreneurs”
Ambiq Micro Wins Investment from Michigan’s Student-Run Frankel Commercialization Fund
At the University of Michigan, the inmates really are running the asylum. I’ve written before about the Wolverine Venture Fund, where students are not playing with Monopoly money: they’re investing real capital into real companies and accepting real risk. Well, the pre-seed version of this idea is the Frankel Commercialization Fund, another student-led effort, which … Continue reading “Ambiq Micro Wins Investment from Michigan’s Student-Run Frankel Commercialization Fund”
Detroit’s NextEnergy Charges Ahead With First Michigan Power Station in Electric Vehicle Program
A common refrain among skeptics of electric vehicles is that there’s a “lack of infrastructure” to support their widespread adoption. On Thursday, Detroit will see a what could be the beginning of the end of that circumstance when NextEnergy introduces Michigan’s first ChargePoint America electric vehicle charging station. ChargePoint America is a program sponsored by … Continue reading “Detroit’s NextEnergy Charges Ahead With First Michigan Power Station in Electric Vehicle Program”
‘Innovation Index’ Says Michigan is Headed, Slightly, Toward Pre-Recession Numbers
If you squint just the right way at new numbers from a quarterly “innovation index” released by the University of Michigan-Dearborn, you might just believe that Michigan could be headed toward an actual end to the recession. The index, which measures things like loans, VC funding, and new incorporations rose to 89 (out of 100) … Continue reading “‘Innovation Index’ Says Michigan is Headed, Slightly, Toward Pre-Recession Numbers”
Michigan Startups Raise $123M So Far This Year, Up 35 Percent From Last Year
Investors have funneled more than $123 million into Michigan startup companies so far this year, a 35 percent increase compared to the same time period in 2009, according to a report released today by the Michigan Venture Capital Association (MVCA). The report notes that dollar totals are up even though deal numbers are down: There … Continue reading “Michigan Startups Raise $123M So Far This Year, Up 35 Percent From Last Year”
New Ann Arbor Firm, Resonant Venture Partners, Hopes to Team Up with Coastal VCs on Michigan Investments
Michael Godwin and Jason Townsend know what they’re getting into, launching a new seed-stage venture capital fund, Resonant Venture Partners, in Michigan during a time when getting institutional investors to climb onboard is next to impossible. “Yeah, it’s bleak in Michigan,” Godwin says, referring to the lack of institutional investor enthusiasm for venture funds in … Continue reading “New Ann Arbor Firm, Resonant Venture Partners, Hopes to Team Up with Coastal VCs on Michigan Investments”
Business Accelerator Network for Southeast Michigan Offers $1M in Prizes for Entrepreneurs
Today’s launch of a huge $1 million business plan competition in southeast Michigan gives flesh to the ambitious phrases thrown around back in June, when the new regional Business Accelerator Network that is overseeing the competition was hailed by local business leaders as “one of the most catalytic events for entrepreneurial activity and innovation in … Continue reading “Business Accelerator Network for Southeast Michigan Offers $1M in Prizes for Entrepreneurs”
Ann Arbor’s Own Hopes To Get Michigan Coffee Houses Buzzing Again
The Burrito Joint eatery at the corner of Packard and Dewey in Ann Arbor might seem an unlikely birthplace for a tech startup. But that was where Verdi Erel Ergun, 27, the Joint’s owner and an MBA student at the University of Michigan, decided he was fed up with his cash register. And frustration, when … Continue reading “Ann Arbor’s Own Hopes To Get Michigan Coffee Houses Buzzing Again”
$81M From Feds Will Help Rural Michigan Get Up to Speed With Broadband—and Help Startups Start Up
It sounds barbaric, I know, but there are areas of Michigan where the only way to access the Internet is through a dial-up connection. These throwbacks to the 1990s are primarily located in rural areas and in the Upper and Northern Lower Peninsulas. And it’s not because they’re a bunch of Luddites up there. The … Continue reading “$81M From Feds Will Help Rural Michigan Get Up to Speed With Broadband—and Help Startups Start Up”
Scio Secures Investment From True Ventures, Others to Develop Safe Mobile Transactions
Scio Security, an Ann Arbor, MI-based developer of mobile phone transaction security systems, has received an undisclosed amount of venture capital investment from True Ventures, a Palo Alto, CA-based firm that invests in early-stage companies. Scio co-founder Jon Oberheide confirmed in an e-mail to me this morning that the investment happened this week and that … Continue reading “Scio Secures Investment From True Ventures, Others to Develop Safe Mobile Transactions”
New Michigan Incubator, NextWave, Helps Businesses Get Capital, Exposure
Nancy Skinner, CEO of NextWave Media Studios and part owner of the just-opened NextWave business space in Troy, MI, describes her new digs as a “different animal” from your average incubator. It is more than just shared office space, she says. “If we deem that your company has good prospects, then we’re going to throw … Continue reading “New Michigan Incubator, NextWave, Helps Businesses Get Capital, Exposure”
Michigan Fund Aims $10M At Life Sciences
Early-stage life science companies in West Michigan may be happy to know that a $10 million fund is being raised just for them. Michigan’s 21st Century Jobs Fund, run by the Michigan Economic Development Corporation, has contributed $6 million to the Michigan Accelerator Fund I designed to fill the region’s early stage funding gap for … Continue reading “Michigan Fund Aims $10M At Life Sciences”
American, European Auto Suppliers Marry Their ‘Collaboration-Ready’ Networks
Once upon a time in Detroit, automobiles were built using all U.S.-made parts, put together by an all-American crew working a U.S. assembly line. Well, no. As the first four words of this story indicate, the idea of a completely independent American auto industry is largely a fairy tale. Even the Ford Model T at … Continue reading “American, European Auto Suppliers Marry Their ‘Collaboration-Ready’ Networks”
Swift Biosciences Sweeps Up $3M
Swift Biosciences, an Ann Arbor, MI, company that makes reagents for genetic tests, has announced that it received $3 million in Series A financing in June led by VC firm DFJ Mercury and joined by several Michigan-based investors. Swift was founded in January by former Accuri Cytometers Chief Scientific Officer David Olson. “Swift Biosciences plans … Continue reading “Swift Biosciences Sweeps Up $3M”
Three More Michigan Startups Get Microloans, Bringing Companies $1.4M In First Year
Three Michigan companies have received a combined $140,000 through the Michigan Microloan Fund program, managed by the Ann Arbor SPARK business incubator. This latest round means the program has invested a total of more than $1.4 million in 39 companies since it was started in July 2009. Microloans range from $10,000 to $50,000 and are … Continue reading “Three More Michigan Startups Get Microloans, Bringing Companies $1.4M In First Year”
Travel App Developer Mobiata Finds the Correct Culture for Startup Innovation in Ann Arbor
Minneapolis, like other Midwestern cities, is used to losing technology startups to Silicon Valley. But when Ben Kazez packed up Mobiata, his company that develops mobile software apps for travelers, and made a kind of lateral move to Ann Arbor, MI, it made some in the Minnesota media do a double-take. Now, a year after … Continue reading “Travel App Developer Mobiata Finds the Correct Culture for Startup Innovation in Ann Arbor”
With Quizzle’s Move Downtown, Dan Gilbert Declares Detroit Area ‘WEBward Avenue’ for Tech Revitalization
Dan Gilbert, the chairman and founder of Quicken Loans, is hoping that if he declares Woodward Avenue, Detroit’s main drag, to be a new, tech-centered “WEBward Avenue” often enough, it just might come true. It also doesn’t hurt that he has the money and clout to perhaps make it a self-fulfilling prophecy. That’s why the … Continue reading “With Quizzle’s Move Downtown, Dan Gilbert Declares Detroit Area ‘WEBward Avenue’ for Tech Revitalization”
The Story Behind Rick Snyder: Seasoned Tech Entrepreneur Wins Michigan GOP Primary
It’s near the beginning of 2001 and I walk into the Ann Arbor, MI, offices of Ardesta for the first time. I am introduced to Rick Snyder, CEO of the business accelerator. After we exchange our greetings and I’m shown my new desk, a colleague tells me that Snyder will run for governor of Michigan … Continue reading “The Story Behind Rick Snyder: Seasoned Tech Entrepreneur Wins Michigan GOP Primary”
GM Invests In Bright IDEA
GM Ventures, the new VC arm of General Motors, is investing $5 million in Bright Automotive, based in Anderson, IN, according to a Bright news release (PDF) and reports in The Wall Street Journal and Reuters. Bright develops plug-in hybrid electric vehicles. This investment will speed along development of a commercial vehicle called the Bright … Continue reading “GM Invests In Bright IDEA”
Most Automotive Infotainment Systems Will Run On Open-Source Genivi By 2015, Report Says
If you’re thinking about developing an app for use in automobiles, you might want to take a look at a new report released by the Genivi Alliance. The coalition of auto companies, suppliers, silicon providers, and software companies predicts its own open-source Genivi operating system will be running most in-vehicle infotainment systems by 2017. Genivi, … Continue reading “Most Automotive Infotainment Systems Will Run On Open-Source Genivi By 2015, Report Says”
Hackerspaces at Maker Faire Show and Tell How to Build a Better Detroit
Nate Bezanson sits at a table beneath the i3Detroit hackerspace tent at last weekend’s Detroit Maker Faire in Dearborn, MI. In front of him are two flashlights—one labeled “stock” and the other labeled “hacked.” The “stock” flashlight is your normal store-bought halogen model, the “hacked” one looks very much like it’s been, well, hacked to … Continue reading “Hackerspaces at Maker Faire Show and Tell How to Build a Better Detroit”
Silicon Valley’s TechShop to Open Ford-Affiliated Workshop for Detroit’s Next Generation of Inventors
Somewhere deep in Ford Motor’s institutional memory, it recalls a time before the strictly tiered, hierarchical business of making automobiles, when Detroit was a city of tinkerers, of makers, of individuals with dreams, talent, and a blowtorch. Today, harkening back to that legacy, Ford is announcing it is getting together with TechShop—a Menlo Park, CA-based … Continue reading “Silicon Valley’s TechShop to Open Ford-Affiliated Workshop for Detroit’s Next Generation of Inventors”
Maker Faire Taps Into Detroit’s Sense of Mission, History as City of Tinkerers and, Yes, Entrepreneurs
The spark of innovation can often be found in outrage—outrage that the world, or some part of it, does not yet contain something that has yet to be invented or brought to it. And James Peyer, University of Michigan stem cell biology Ph.D. student, part-time do-it-yourself entrepreneur, and participant in this weekend’s Detroit Maker Faire, … Continue reading “Maker Faire Taps Into Detroit’s Sense of Mission, History as City of Tinkerers and, Yes, Entrepreneurs”
Versus Technology Doesn’t Need to Develop RFID in Northern Michigan, But Wouldn’t Dream of Doing it Anywhere Else
Versus Technology is located at the base of the pinky on Michigan’s mitten, where Lake Michigan laps its tongue into the shining waters of the Grand Traverse Bay. Versus develops products that track patients, staff, and equipment for hospitals across the country, so it does not really need to be at this inconveniently located corner … Continue reading “Versus Technology Doesn’t Need to Develop RFID in Northern Michigan, But Wouldn’t Dream of Doing it Anywhere Else”
Life Magnetics Attracts Investment
Arboretum Ventures, an Ann Arbor, MI, VC firm that invests in early-stage companies, today announced (PDF) completion of Series A preferred stock financing with Life Magnetics, a University of Michigan spinout developing a desktop in vitro diagnostic device and disposable cartridge assay for rapidly testing bacterial infections. The investment amount was not announced. The device … Continue reading “Life Magnetics Attracts Investment”
Ann Arbor’s Cerenis Therapeutics Gets $51.7M to Develop Drug for Cardiovascular Disease
Cerenis Therapeutics, a biopharmaceutical company based in Ann Arbor, MI, and Toulouse, France, has just received $51.7 million to continue stalking a killer. The criminal in question is atherosclerotic cardiovascular disease, and it’s the number-one cause of death in the developed world. Cerenis’ promising new weapon in the fight is a drug called CER-001, which … Continue reading “Ann Arbor’s Cerenis Therapeutics Gets $51.7M to Develop Drug for Cardiovascular Disease”
Detroit’s Livio Radio Tunes in to NPR, Pandora, and a Passion for Pleasing Customers
At the close of 2007, Jake Sigal had a choice to make. He was a product manager at automotive supplier Delphi’s consumer electronics group, which manufactured XM Satellite Radio portable players. Then XM and Sirius Satellite Radio announced a merger and Sigal “saw the writing on the wall.” “I always wanted to start a business,” … Continue reading “Detroit’s Livio Radio Tunes in to NPR, Pandora, and a Passion for Pleasing Customers”
Michigan’s Research Universities Say They’re Creating New, High-Tech Manufacturing Jobs
Despite rumors to the contrary, manufacturing is not dead in Michigan. It’s just not solely in automotive anymore. That is among the conclusions reached in an 87-page report released today by the University Research Corridor, a partnership launched four years ago by the state’s three major research universities. The report says that more than 381,000 … Continue reading “Michigan’s Research Universities Say They’re Creating New, High-Tech Manufacturing Jobs”
iNetworksMichigan To Bring Detroit $10M, Plus Lessons Learned From Pittsburgh’s Economic Revival
When Charlie Schliebs looks at Detroit today, he sees his hometown of Pittsburgh about 30 years ago, when the steel industry collapsed. Then, Carnegie-Mellon University and the University of Pittsburgh helped turn things around by stepping up to the challenge of redefining themselves as a training ground for a new, tech-based economy. That’s why Schliebs, … Continue reading “iNetworksMichigan To Bring Detroit $10M, Plus Lessons Learned From Pittsburgh’s Economic Revival”