Yesterday, the winners of the annual Accelerate Michigan Innovation Competition were announced after a two-day competition in downtown Detroit. At stake was more than $1 million in cash prizes, plus awards of services, staffing, and software. Accelerate Michigan winners are companies to keep an eye on, as they’re usually considered among Michigan’s most promising startups to … Continue reading “Accelerate Michigan Innovation Competition Announces Winners”
Author: Sarah Schmid Stevenson
Sarah is a former Xconomy editor. Prior to joining Xconomy in 2011, she did communications work for the Michigan Economic Development Corporation and the Michigan House of Representatives. She has also worked as a reporter and copy editor at the Missoula Independent and the Lansing State Journal. She holds a bachelor's degree in Journalism and Native American Studies from the University of Montana and proudly calls Detroit "the most fascinating city I've ever lived in."
Roundup: Hacker Fellows, Cleantech Open, Seelio, MLSIC, More
Here’s a look at news from around Michigan’s innovation community: —Invest Detroit and Grand Circus, part tech school and part community center, are seeking applicants for a new Hacker Fellows program, which places software developers in jobs at Michigan start-ups. Graduating seniors with computer-related degrees from accredited universities will be selected for a six-week session … Continue reading “Roundup: Hacker Fellows, Cleantech Open, Seelio, MLSIC, More”
RetroSense Closer to Clinical Trials After Orphan Drug Designation
Recent action by the FDA has Ann Arbor, MI-based RetroSense Therapeutics looking to possible clinical trials next year for a gene therapy that could help people see better. The key ruling came last week when regulators granted orphan drug status to RST-001, which RetroSense is developing to restore vision for people affected by retinitis pigmentosa. … Continue reading “RetroSense Closer to Clinical Trials After Orphan Drug Designation”
Quantum Medical Concepts Invests $100K in Advanced Amputee Solutions
Quantum Medical Concepts, a partnership between the Michigan State Medical Society and Commonwealth Enterprises to support early-stage healthcare startups, has made its first investment, worth $100,000, in Advanced Amputee Solutions. Advanced Amputee Solutions is developing a Cushioning Implantable End Pad (CIEP), a polymer-based cushioning device that is inserted during surgery to eliminate pain and discomfort … Continue reading “Quantum Medical Concepts Invests $100K in Advanced Amputee Solutions”
Tetra Discovery Lands Funding, Plans Alzheimer’s Drug Trial in 2015
Grand Rapids, MI-based biotech startup Tetra Discovery has been in the news a lot lately. This week, the Michigan Pre-Seed Fund 2.0 announced that Tetra Discovery was the recipient of a $100,000 investment. The company also recently scored additional financing from Grand Angels and Johnson & Johnson Development Corp., the venture capital subsidiary of healthcare … Continue reading “Tetra Discovery Lands Funding, Plans Alzheimer’s Drug Trial in 2015”
Edmunds.com Acquires CarCode to Help Further its Mobile Strategy
Car-shopping website Edmunds.com announced this week that it has acquired CarCode, an app maker based in Seattle and Ann Arbor, MI. The terms of the deal were not disclosed. “It’s a great company to be joining,” says Nick Gorton, CarCode’s co-founder. Even though we’re living in an age of ubiquitous smartphones and Edmunds saw a … Continue reading “Edmunds.com Acquires CarCode to Help Further its Mobile Strategy”
HauntPay Scares Up $1M in Online Event Ticket Sales, Plans Expansion
Michiganders love their haunted corn mazes. Southeast and mid-Michigan are home to a wide array of Halloween attractions, many of them old-fashioned mom-and-pop operations on family farms. Now, thanks to HauntPay, the owners of these attractions have a newfangled way to sell tickets online. HauntPay, founded by Core Detroit’s Alex Linebrink, allows users with an … Continue reading “HauntPay Scares Up $1M in Online Event Ticket Sales, Plans Expansion”
Invest Michigan Awards $275K to Four Early-Stage Tech Startups
Invest Michigan announced this week that it has invested $275,000 in four early-stage tech startups through the Michigan Pre-Seed Fund 2.0. The four startups also secured co-investments worth $3.4 million from private investors, far exceeding the minimum 1:1 matching funds required by Invest Michigan. “All of the startups we funded look like very promising companies … Continue reading “Invest Michigan Awards $275K to Four Early-Stage Tech Startups”
$21M NIH Grant Will Help Detroit Colleges Improve STEM Diversity
True innovation doesn’t exist without diversity, experts say, so the National Institutes of Health (NIH) has awarded a consortium of Detroit colleges $21.2 million over five years to encourage more underrepresented students to pursue careers in biomedical research. With the backing of the NIH funding, Wayne State University (WSU), University of Detroit Mercy (UDM), Marygrove … Continue reading “$21M NIH Grant Will Help Detroit Colleges Improve STEM Diversity”
Ornicept Takes Flight with New Office, More Funding, Explosive Growth
Ornicept, the Ann Arbor-based startup focused on remote data management, has experienced significant growth since we first profiled the company in June 2013. Last month, the team of 12 moved out of the Ann Arbor SPARK incubator and into its own 2,500-square-foot office off North Main Street, and CEO Russell Conard already has his eye … Continue reading “Ornicept Takes Flight with New Office, More Funding, Explosive Growth”
MVCA: 2014 is Shaping Up to Be A Banner Year for Michigan Startups
According to data released last week by the National Venture Capital Association (NVCA), the third quarter of 2014 was a busy one in the state of Michigan. The NVCA’s report, based on information collected by Pricewaterhouse Coopers and Thomson Reuters, says that Michigan-based startups raised a total of $2.2 million in four venture deals during … Continue reading “MVCA: 2014 is Shaping Up to Be A Banner Year for Michigan Startups”
Duo Security Rides Growing Interest in Two-Factor Authentication
Hardly a day goes by without a big headline announcing yet another consumer security breach; today’s version trumpets the possible theft of Staples customers’ credit card information. Keeping payment information safe from criminals is a priority for both businesses and consumers, and since Ann Arbor, MI-based Duo Security is at the forefront of a promising … Continue reading “Duo Security Rides Growing Interest in Two-Factor Authentication”
$25M Gift from Urban Science Founder to Spur Entrepreneurship at WSU
Earlier this month, Wayne State University’s College of Engineering announced a $25 million gift to boost the entrepreneurial efforts of faculty and students in order to help drive Detroit’s revitalization. The gift to the university was made by alum Jim Anderson, founder of Urban Science, and his wife, Patricia. The investment will create the James … Continue reading “$25M Gift from Urban Science Founder to Spur Entrepreneurship at WSU”
U-M Spinout OcuSciences Is Medical Main Street Innovator of the Year
OcuSciences, an Ann Arbor, MI-based medical device startup spun out of technology developed at the University of Michigan, has been named the “innovator of the year” by Medical Main Street, an initiative to establish Oakland County as a center of innovation in medical research and development, education, and commercialization. The award honors the inventors of … Continue reading “U-M Spinout OcuSciences Is Medical Main Street Innovator of the Year”
Protean Rebrands as Stratos, Closes $5.8 Million Seed Round
Stratos, the Ann Arbor-based mobile payment startup formerly known as Protean Payment, has closed on a $5.8 million seed funding round, with investments from Toba Capital, Western Technology Investment, Resonant Venture Partners, and Hyde Park Venture Partners. Stratos co-founder and CEO Thiago Olson says the funding will allow the company to step up its hiring … Continue reading “Protean Rebrands as Stratos, Closes $5.8 Million Seed Round”
Roundup: Mt. Elliott Makerspace, Rockwell Medical, Zell Lurie, More
Here’s a look at news from around Michigan’s innovation hubs: —Last week, I spotted a headline that made my heart sink: The eastside Detroit church that houses the Mt. Elliott Makerspace is struggling, and the funds that support programs like the makerspace are nearly exhausted. I visited the church in April 2012 and wrote about … Continue reading “Roundup: Mt. Elliott Makerspace, Rockwell Medical, Zell Lurie, More”
U-M to Launch New Maker Space in Detroit’s Brightmoor Neighborhood
A new maker space is coming to Detroit’s Brightmoor neighborhood, and it’s backed by students and faculty from the University of Michigan’s Penny Stamps School of Art and Design and a $100,000 grant from the Knight Foundation. The Brightmoor Alliance community group and Detroit Community Schools will work with the Stamps School to get the … Continue reading “U-M to Launch New Maker Space in Detroit’s Brightmoor Neighborhood”
Loquidity Brings Crowdfunding to Midwestern Real Estate Markets
While U.S. investors and startups wait for the Securities and Exchange Commission to devise the rules regarding the crowdfunding piece of the JOBS Act, states are passing their own companion legislation to try to stimulate investing. In December 2013, Gov. Rick Snyder signed the Michigan Invests Locally Exemption (MILE) Act, which allows a business incorporated … Continue reading “Loquidity Brings Crowdfunding to Midwestern Real Estate Markets”
Incubator Brings Startup Services, Co-Working to Grandmont Rosedale
The Grandmont Rosedale neighborhood on the west side of Detroit has long been an oasis of stability in a sometimes turbulent city. Originally created in the 1920s as a neighborhood for middle managers who worked for Ford, people who buy houses in the neighborhood tend to stay for decades. It’s diverse and well-kept, and watched … Continue reading “Incubator Brings Startup Services, Co-Working to Grandmont Rosedale”
U-M Tech Transfer Racks Up Another Record-Breaking Year
The University of Michigan’s technology transfer office says it had another record-breaking year: More inventions, more patents, more licensing revenue, and more startups created than the previous year. “There’s no one single factor,” says Ken Nisbet, the school’s tech transfer director. “Having a large amount of research translates into a lot of good ideas. Also … Continue reading “U-M Tech Transfer Racks Up Another Record-Breaking Year”
NEI Embeds at Co-Working Spaces to Better Connect with Entrepreneurs
A well-funded nonprofit that gives grants to Detroit-area entrepreneurs plans to station some of its staff members in the region’s co-working offices, hoping that an “in the trenches” perspective will help it better understand what startup founders need to succeed. “It’s more effective and it gives us more flexibility,” says Jim Boyle, spokesman for the … Continue reading “NEI Embeds at Co-Working Spaces to Better Connect with Entrepreneurs”
Need More Business Engagement on the Social Web? Qzzr Has It Covered
Josh Little likes to call himself a “qwizard.” He’s a former teacher and serial entrepreneur who has spent his career building a better mousetrap, so to speak, when it comes to training, marketing, and sales. Now, with his latest venture, called Qzzr, Little has found a new way to engage customers and generate sales leads: … Continue reading “Need More Business Engagement on the Social Web? Qzzr Has It Covered”
Roundup: U-M, Grand Circus, MTAM, Automation Alley, Delphinius, MBI
Here’s a look at news from around Michigan’s innovation hot spots: —The Zell Lurie Institute at the University of Michigan’s Ross School of Business has been named one of the top three graduate entrepreneurship programs in the country for the third year in a row. The rankings are compiled by the Princeton Review and Entrepreneur … Continue reading “Roundup: U-M, Grand Circus, MTAM, Automation Alley, Delphinius, MBI”
Rise of the Rest Announces Finalists for Madison Pitch Competition
Steve Case’s Rise of the Rest tour, meant to highlight growing startup ecosystems in five Midwestern cities, will embark on its second leg next week. Today, the tour announced the finalists for pitch competitions at each of the five stops. At stake is a $100,000 personal investment from Case and a trip to next year’s … Continue reading “Rise of the Rest Announces Finalists for Madison Pitch Competition”
SproutsIO’s Microfarming Units Can Turn Your Apartment Into a Garden
I often say that moving to Detroit was the best decision I made last decade, but there is one thing I left behind that I constantly pine for: My garden. There’s a beautiful, well-tended community garden in my neighborhood, but good luck getting a spot in it—nobody ever gives theirs up. Apartment rules prevent me … Continue reading “SproutsIO’s Microfarming Units Can Turn Your Apartment Into a Garden”
Detroit’s Cribspot Raises $660K Seed Round, Plans 15-City Expansion
Cribspot, the Detroit-based startup focused on disrupting the campus rental market, announced this week that it has closed on a $660,000 seed round led by Huron River Ventures, with the First Step Fund and undisclosed angel investors participating. “I think we have the model to really change how people find housing,” says co-founder Alex Gross. … Continue reading “Detroit’s Cribspot Raises $660K Seed Round, Plans 15-City Expansion”
Resolve Minor Civil Infractions Online with Court Innovations
Imagine: You’re late for work and going 10 miles-per-hour over the speed limit to try to shave a few minutes off your commute, when you’re pulled over. The police officer gives you a ticket, but it’s more expensive than you anticipated. You want to take care of the matter quickly, though, before the late fees … Continue reading “Resolve Minor Civil Infractions Online with Court Innovations”
U-M Social Venture Fund Invests in Detroit’s Loveland Technologies
The University of Michigan today announced that its Social Venture Fund has backed Detroit-based startup Loveland Technologies as part of a Series AA round of financing. An SEC filing shows that Loveland has raised about $780,000 from seven investors, although the company declined to say how much it had raised or name other investors. The … Continue reading “U-M Social Venture Fund Invests in Detroit’s Loveland Technologies”
After Early Successes, The Hatch Incubator at MSU Doubles in Size
Two years ago, Spartan Innovations was launched to help nurture and commercialize startups founded by Michigan State University students and faculty or from technology developed at MSU. This week, the MSU Innovation Center announced that The Hatch, its early-stage incubator and co-working space, is expanding. “The growth has been exponential,” says Paul Jacques, the director … Continue reading “After Early Successes, The Hatch Incubator at MSU Doubles in Size”
Code Fellows Plans to Open Detroit Office, Help Fill Talent Pipeline
As part of Detroit Homecoming, three days of events devoted to luring expats back to the Motor City, more than 150 former residents were invited back to learn more about how they can participate in the city’s revitalization. (Allow us to digress: One of the announcements made as part of Detroit Homecoming was that Austin, … Continue reading “Code Fellows Plans to Open Detroit Office, Help Fill Talent Pipeline”
Report from Techonomy Detroit: Bridging the Digital Divide
[Correction, 9/24/2014, 9:36 a.m. See below.] Detroit’s bankruptcy, while humbling and damaging to the city, has also brought “extraordinary” national interest to the Motor City, evidenced this week by the lineup of boldface technology names gathered at the Techonomy Detroit conference this week. “It’s a sad event in some sense, but it dramatically increased attentiveness … Continue reading “Report from Techonomy Detroit: Bridging the Digital Divide”
MI Roundup: Plymouth Ventures, FarmLogs, Start Garden
Here’s a look at news from around Michigan’s innovation hubs: —Things are going gangbusters for the Ann Arbor-based ag-tech startup FarmLogs. Founder and CEO Jesse Vollmar says his company, which has developed software that helps farmers track and leverag precise agricultural data, is now being used by 15 percent of U.S. farms. That number represents … Continue reading “MI Roundup: Plymouth Ventures, FarmLogs, Start Garden”
URC Water Tour Highlights Michigan’s Blue Economy Opportunities
Forget about oil or gold. In a few decades, clean, fresh water might be the most valuable commodity in the world, and Michigan is preparing now to stake its claim on the coming bounty. The Great Lakes surrounding Michigan hold 18 percent of the world’s fresh water and 90 percent of the nation’s surface freshwater. … Continue reading “URC Water Tour Highlights Michigan’s Blue Economy Opportunities”
At U-M, 40 Years Of Gaucher Research Rewarded With FDA Approval
On August 19, the FDA approved eliglustat (Cerdelga) for the rare genetic disorder Gaucher disease. Marketed by the Genzyme division of Sanofi (NYSE: [[ticker:SNY]]), it’s a pill, which gives at least some of the 10,000 Gaucher patients worldwide an alternative to the intravenous infusions currently on the market. But it also represents something else: the … Continue reading “At U-M, 40 Years Of Gaucher Research Rewarded With FDA Approval”
MI Roundup: Compuware, U-M, Start Garden, Ann Arbor SPARK
[Corrected, 9/10/14. See below] Here’s a look at news from around Michigan’s innovation hubs: —On the heels of last week’s announcement that Compuware had been purchased by Thoma Brava, a private equity firm, comes this news: Compuware APM will now operate under the name Dynatrace. John Van Siclen will continue to lead the business. —The … Continue reading “MI Roundup: Compuware, U-M, Start Garden, Ann Arbor SPARK”
MC Hammer Offers Tips to “Innovate the Hood” at Detroit Event
Detroit Pistons fans of a certain age will always have a place for MC Hammer in their hearts, since his song “U Can’t Touch This” will forever be associated with the triumphant Bad Boys era of the early 1990s. But not many of us, perhaps, have kept up with Hammer’s career since then. It turns … Continue reading “MC Hammer Offers Tips to “Innovate the Hood” at Detroit Event”
Packard Place Serves as Hub for Charlotte’s Emerging Startup Scene
When people think of startup culture in North Carolina, what usually comes to mind is the Research Triangle of Raleigh-Durham-Chapel Hill and all of the activity surrounding the technology spun out of nearby universities. But there’s also an emerging startup scene taking root in Charlotte, the most populous city in the state and the headquarters … Continue reading “Packard Place Serves as Hub for Charlotte’s Emerging Startup Scene”
Detroit Materials Hopes to Reinvent Steel in America’s Car Capital
Good old-fashioned iron and steel helped make Detroit the powerhouse of 20th Century industrial America. A startup called Detroit Materials is hoping to lead a renaissance for these hardworking metals, backed by technology from Wayne State University. The company finalized a licensing agreement with WSU in June, allowing it to commercialize a kind of high-strength, … Continue reading “Detroit Materials Hopes to Reinvent Steel in America’s Car Capital”
Compuware Goes Private in $2.5B Deal, Seeks Flexibility in Tech Wars
Compuware announced today that it has been purchased by Thoma Bravo, a private equity firm with offices in San Francisco and Chicago, for $2.5 billion. Under the terms of the agreement, Compuware shareholders will receive $10.92 per share, a 17 percent increase over the company’s closing stock price on Friday. Compuware’s board has approved the … Continue reading “Compuware Goes Private in $2.5B Deal, Seeks Flexibility in Tech Wars”
Update: Ingress, LevelEleven, Rubicon, ArdentCause, Time Magazine
We glide into the long weekend with a report from an Ingress event held in Detroit on Aug. 23, an update on three expanding local tech startups, and brief, gloating commentary on the new story about Detroit in Time magazine. Have a lovely holiday! —The Ingress XM wagon (pictured) stopped in Detroit last weekend for … Continue reading “Update: Ingress, LevelEleven, Rubicon, ArdentCause, Time Magazine”
Tech Entrepreneur on a Mission to Get People to Unplug and Socialize
Brian Hiss is a successful, New York-based tech entrepreneur. He was the chief operating officer of eats.com, later acquired by delivery.com, and he’s currently at the helm of Dooble, his eighth startup, which offers users curated lists of fun things to do in New York City. So why is Hiss in the middle of a … Continue reading “Tech Entrepreneur on a Mission to Get People to Unplug and Socialize”
U-M Impact Challenge Seeks to Help Detroit Kids Become Entrepreneurs
It’s their first week on campus—and for many, their first time in the United States—but that isn’t slowing down about 450 graduate students from the University of Michigan’s Ross School of Business. Tuesday marked the kick-off of the Impact Challenge, an annual immersive leadership development program that this year focuses on getting Detroit kids interested … Continue reading “U-M Impact Challenge Seeks to Help Detroit Kids Become Entrepreneurs”
MI Startup Wins Grant to Make Medical Devices for Developing World
According to the U.S. Department of Commerce, 80 percent of the world’s medical equipment is designed for only 10 percent of the population. After all, what’s the point of having the latest cutting-edge device if you live in the developing world without a steady source of electricity? However, Grand Rapids, MI-based med tech startup Sisu … Continue reading “MI Startup Wins Grant to Make Medical Devices for Developing World”
Tissue Regeneration Systems to Collaborate with J&J, DePuy Synthes
Earlier this summer, Johnson & Johnson Innovation and DePuy Synthes Products announced a new collaboration with Plymouth, MI-based Tissue Regeneration Systems (TRS) to help develop patient-specific, resorbable bone implants. (That means implants that can be broken down by the body after an interval of time passes.) Last week, TRS celebrated the opening of its new … Continue reading “Tissue Regeneration Systems to Collaborate with J&J, DePuy Synthes”
U-M Launches New Accelerator Open to All Michigan Startups
The University of Michigan’s Ross School of Business and College of Engineering have teamed up to launch the Desai Family Accelerator, which will help support early-stage ventures with mentorship and financial resources. Plus, there’s a twist: Despite being backed by U-M, the accelerator is open to any Michigan startup. “They don’t have to have a … Continue reading “U-M Launches New Accelerator Open to All Michigan Startups”
Detroit Aircraft Takes Flight With Lockheed Deal, Airport Renovation
In 2007, Jon Rimanelli began researching Detroit’s history in the aviation industry as part of a proposal to convince organizers of the Red Bull Air Races to pick the Motor City as the host. The bid was successful and resulted in Red Bull race planes zipping up and down the Detroit River for the next … Continue reading “Detroit Aircraft Takes Flight With Lockheed Deal, Airport Renovation”
MI Roundup: Michipreneur, Fanzoo, Start Garden, Beringea, iVantage
Here’s a look at recent news from around Michigan’s innovation community: —The fine folks at Michipreneur have put together an online, statewide startup directory. Searchable by keyword, industry, or city, the directory has more than 100 companies listed and is growing by the day. Want to add your startup to the directory? Click here to … Continue reading “MI Roundup: Michipreneur, Fanzoo, Start Garden, Beringea, iVantage”
New MVCA Fellow Will Focus on Transportation Mobility at Fontinalis
The Michigan Venture Capital Association’s (MVCA) Venture Fellows Program has placed a new fellow: Daniel Ratliff has joined Detroit-based Fontinalis Partners, where he’ll work on researching and evaluating prospective investments, assist in managing current portfolio companies, and focus on finding Michigan companies for Fontinalis to invest in. Chris Stallman, a principal at Fontinalis, says his … Continue reading “New MVCA Fellow Will Focus on Transportation Mobility at Fontinalis”
Cool Summer: Founder of Harbor Springs Incubator on Lessons Learned
Coolhouse Labs, the startup incubator operating out of a renovated boat house in Harbor Springs, MI, is in the middle of mentoring its second crop of startups, and founder Jordan Breighner says he incorporated what he learned during Coolhouse’s inaugural session last summer to improve what he currently offers to the startups in residence. “We … Continue reading “Cool Summer: Founder of Harbor Springs Incubator on Lessons Learned”
Assemble Aims to Create Disruptive, Online Chamber of Commerce
When Kate Catlin, a Venture for America fellow based in Detroit, biked across the country the summer before her freshman year of college, she was struck by how many mom and pop businesses had been closed and boarded up in the towns she passed through. “We’d ask people where the businesses went, and they would … Continue reading “Assemble Aims to Create Disruptive, Online Chamber of Commerce”