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."

Aastrom Scraps Phase 3 Study, Cuts Workforce in Half

The Ann Arbor-based biotech company Aastrom Biosciences (Nasdaq: ASTM) announced this week that it’s halting its REVIVE-CLI Phase 3 clinical study of the company’s multicell therapy for patients with critical limb ischemia (CLI). The company also slashed its workforce in half in a reorganization of its R&D operation. About a year ago, Aastrom raised $40 million from Eastern Capital … Continue reading “Aastrom Scraps Phase 3 Study, Cuts Workforce in Half”

Uber Launches On-Demand Car Service in Detroit

If you’re a car-challenged Detroiter like me, you have at least five phone numbers for taxis in your contact list. There’s the industry standard Checker Cabs, whose line is busy more often than not; there’s the friendly cab driver you had one time who gave you his private number and said to call that number … Continue reading “Uber Launches On-Demand Car Service in Detroit”

Nextek Wants to Convert You to DC Power

[Corrected 3/27/13, 1:46 p.m. See below.] Nextek Power Systems is tucked away inside the NextEnergy building on Burroughs Street in Detroit, but don’t let its semi-hidden location fool you: Nextek is working on power supply issues with global implications, particularly to developing nations, and wants to educate the masses on the advantages of DC, or direct … Continue reading “Nextek Wants to Convert You to DC Power”

More Cash, Prizes Added to Pure MI Social Entrepreneurship Challenge

The Pure Michigan Social Entrepreneurship Challenge, a statewide competition to advance innovative solutions to social challenges, has added $40,000 in new prizes, for a competition total of $90,000. It has also extended its idea submission deadline to April 10. Billed as the nation’s first coordinated, public-private effort to advance social entrepreneurship, the Pure Michigan Social … Continue reading “More Cash, Prizes Added to Pure MI Social Entrepreneurship Challenge”

Atomic Object’s Watson on Its “No Brainer” Expansion to Detroit

[Corrected 3/22/13, 2:20 p.m. See below.] Bruce Watson spent 20 years working in IT for Nike in Beaverton, OR, and another six years doing consulting work. Finally, he was ready to settle into retirement in a big house on a boutique organic blueberry farm overlooking Mt. Hood, one of the most picturesque spots in the … Continue reading “Atomic Object’s Watson on Its “No Brainer” Expansion to Detroit”

Bizdom Continues to Attract Out-of-State Talent

As Dan Gilbert, founder and chairman of Quicken Loans, continues snapping up downtown Detroit skyscrapers and adding to his dominion, the Bizdom tech startup accelerator that he established in the Motor City seems to be hitting its stride. The chic, geek-magnet (in a good way) Madison Building—which houses Bizdom and a number of the startups … Continue reading “Bizdom Continues to Attract Out-of-State Talent”

Larky’s Online Perks Platform Helps Consumers Connect With Discounts

Andrew Bank and Gregg Hammerman are serial entrepreneurs who met at the University of Michigan and went on to found Techstreet, which was later bought by Thomson Reuters. Now, Bank says, they’ve “gotten the band back together” to launch Larky, a website and mobile app that aggregates various perks and discounts from membership organizations, such … Continue reading “Larky’s Online Perks Platform Helps Consumers Connect With Discounts”

Detroit Venture Partners Reportedly Invests $750K in Chalkfly

According to a report in Crain’s Detroit Business today, Detroit Venture Partners is poised to announce it has invested $750,000 in Chalkfly, a startup Xconomy profiled in September. Joining the round is Bizdom; Ludlow Ventures, which is also located with Chalkfly in downtown Detroit’s Madison Building; Rick DeVos’ Grand Rapids-based Start Garden; and the Chicago-based Griffon … Continue reading “Detroit Venture Partners Reportedly Invests $750K in Chalkfly”

Mid-Michigan’s TechSmith, Growing Globally, Surpasses $50M in Revenue

Late last month, the Okemos, MI-based software company TechSmith announced it had surpassed $50 million in revenue in 2012. TechSmith’s top sellers are Camtasia, which enables even novice users to create interactive videos, and Snagit, screen-capture software that allows users to grab and enhance images. Both products earned awards from PCMag. “We provide great value … Continue reading “Mid-Michigan’s TechSmith, Growing Globally, Surpasses $50M in Revenue”

U-M Spinout Diapin Therapeutics Attracts Chinese Investment

When Bruce Markham worked as a research fellow for Pfizer, in the building that now houses the University of Michigan’s North Campus Research Complex, he spent his time developing clinical candidates for the treatment of metabolic diseases. Then, in 2007, came what AnnArbor.com characterized as “the gut punch”: Pfizer announced it was shuttering facilities in … Continue reading “U-M Spinout Diapin Therapeutics Attracts Chinese Investment”

Two New State-Backed Capital Funds Launch

Last week, the Michigan Economic Development Corporation (MEDC) announced its new Michigan Venture Match Fund, a $5 million pot of money from the Michigan Strategic Fund for early-stage companies in the state that have already gotten funding commitments from at least one venture firm. The fund just invested $2.76 million in six companies across a variety … Continue reading “Two New State-Backed Capital Funds Launch”

Michigan Life Sciences Roundup: Swift Biosciences, Aastrom

A few Southeast Michigan biotech companies are in the news today: —Swift Biosciences, based in Ann Arbor, has just rolled out its Accel-NGS DNA Library kit, the first in a suite of new products for next-generation sequencing sample preparation that the company plans to release in 2013. “What we have is a kit that makes … Continue reading “Michigan Life Sciences Roundup: Swift Biosciences, Aastrom”

IDInteract’s Vision to Reinvent Brand Interaction Starts in Detroit

After quietly filing patents and operating in “stealth mode” since 2009, IDInteract‘s founder and CEO, Matt Standish, formally launched his brand interaction software platform in December. Now, he’s in the process of opening what he calls a “center of excellence” in Detroit, which will eventually employ 100 software developers, to go with a three-person office … Continue reading “IDInteract’s Vision to Reinvent Brand Interaction Starts in Detroit”

AutoHarvest Seeks to Become the “Amazon of Innovation”

AutoHarvest, a nonprofit website that aims to connect the auto industry with entrepreneurs and inventors, has just announced a partnership with the U.S. Patent and Trademark Office. It’s the latest big name to come aboard—other supporters include Ford, Chrysler, General Motors, Covisint, and various universities and economic development agencies. “Our mission is to help accelerate the … Continue reading “AutoHarvest Seeks to Become the “Amazon of Innovation””

Company Born At Startup Weekend Detroit Releases Sales App

When Sandy Barris came to Startup Weekend Detroit last year, he had an idea for an app that would help people working in direct sales track their activities and stay motivated. He hooked up with some developers at the marathon event, and a rudimentary product was created. Barris says it wasn’t long before things fell … Continue reading “Company Born At Startup Weekend Detroit Releases Sales App”

Detroit Startups Stik.com and UpTo Raise Key Financing Rounds

Detroit’s nascent tech scene got another boost with the announcement today that Stik.com, an online business referral platform that relocated to the Motor City from San Francisco last year, has closed a fundraising round worth $2.3 million. Nathan Labenz, Stik’s co-founder, says that the round was led by Detroit Venture Partners (DVP) with a host of … Continue reading “Detroit Startups Stik.com and UpTo Raise Key Financing Rounds”

Challenge Detroit and Detroit Revitalization Fellows Seek New Participants

Two fellowship programs that bring talented young professionals to Detroit in the hopes that they’ll make a permanent home here are accepting applications through Sunday for a new cohort of participants. Both the Challenge Detroit and the Detroit Revitalization Fellows programs have succeeded in luring some of the country’s most passionate young entrepreneurs and community builders … Continue reading “Challenge Detroit and Detroit Revitalization Fellows Seek New Participants”

Kinnear: Big Ideas Define U-M’s Current Entrepreneurial Climate

After 30 years, what sets apart winners of the University of Michigan’s annual Michigan Business Challenge competition? “Big ideas,” says Tom Kinnear. Kinnear is in a position to know. He helped found U-M’s Zell Lurie Institute for Entrepreneurial Studies, which hands out the awards, and has watched student entrepreneurs evolve through the years. “The number of teams and … Continue reading “Kinnear: Big Ideas Define U-M’s Current Entrepreneurial Climate”

Wayne State Biotech Spinout Advaita Continues Growth

Advaita, the Plymouth, MI-based biotech startup spun out of technology developed at Wayne State University, has been selected to participate in the National Institutes of Health’s (NIH) Commercialization Assistance Program (CAP). The 18-month program provides mentoring, training, and consulting to help companies get their products to market. Only 60 companies nationwide are picked to participate … Continue reading “Wayne State Biotech Spinout Advaita Continues Growth”

Ag Tech Startup FarmLogs Nets $1M in Seed Funding

The Ann Arbor, MI-based ag tech startup FarmLogs is on a quest to bring farm management into the digital age, and the recent completion of a $1 million seed round lead by Ann Arbor-based Huron River Ventures and Chicago-based Hyde Park Venture Partners will push the company forward. What FarmLogs offers is a one-stop farm … Continue reading “Ag Tech Startup FarmLogs Nets $1M in Seed Funding”

Bizdom, TechTown, Invest Detroit Launch $1M Technology Exchange

Thanks to a $1 million grant from the Michigan Strategic Fund, Detroit business incubators Bizdom and TechTown are partnering with Invest Detroit on a new initiative called the Detroit Technology Exchange (DTX). DTX will consist of programs geared toward strengthening Detroit’s entrepreneurial ecosystem, attracting and retaining talent, and getting investment money flowing through the local startup … Continue reading “Bizdom, TechTown, Invest Detroit Launch $1M Technology Exchange”

Coming Soon: the Detroit Bus Company’s Newest Transit Innovations

Andy Didorosi, the founder and CEO of the Detroit Bus Company, is on a mission. Not content to merely revolutionize the city’s transit system, which is in desperate need of fixing, Didorosi is rolling out a new set of innovations over the coming months. When we went a rollicking ride along on one of Didorosi’s buses … Continue reading “Coming Soon: the Detroit Bus Company’s Newest Transit Innovations”

U-M Opens Law Clinic for Student Startups

The entrepreneurial ecosystem at the University of Michigan quietly added another layer last year with the establishment of a law clinic that offers free legal services to student entrepreneurs. Described by officials as a first at the university, the clinic is joining the growing number of similar endeavors on college campuses across the nation as … Continue reading “U-M Opens Law Clinic for Student Startups”

State Funds Collaborations Between Small Companies, MI Universities

The Michigan Corporate Relations Network has issued a request for proposals from tech entrepreneurs looking to speed up their commercialization efforts. Under the Small Company Innovation Program (SCIP), small- to medium-sized companies can receive matching funds for research projects at one of the organization’s participating universities: Wayne State University, the University of  Michigan, Michigan State … Continue reading “State Funds Collaborations Between Small Companies, MI Universities”

TechTown Adds Bootcamp-Style Venture Accelerator

The Detroit-based business incubator TechTown announced last week that it’s launching the new Labs Venture Accelerator, which is set to accept applications online starting tomorrow for the first session, which will begin April 8. The goal of the program is to transform early stage startups into viable, sustainable businesses in a short amount of time. … Continue reading “TechTown Adds Bootcamp-Style Venture Accelerator”

Lycera Enters Into Second Collaboration Deal with Merck

Lycera, the biopharmaceutical company based in Plymouth, MI, announced today that it is entering into a second collaboration agreement with pharmaceutical giant Merck. This is the second collaboration deal between Lycera and Merck in two years. Merck will spearhead clinical development and will have worldwide marketing and commercialization rights to any products that are developed as … Continue reading “Lycera Enters Into Second Collaboration Deal with Merck”

Talking Ag Tech, Bridging the Ann Arbor-Detroit Gap at U-M Unconference

The premise of the Entrepreneurs Engage unconference held at the University of Michigan yesterday may sound a little hokey to the uninitiated: The audience suggests breakout-group topics, and then folks spend about 45 minutes in each discussion—or they don’t. “You vote with your feet,” said emcee (and Xconomist) Rich Sheridan, CEO of Menlo Innovations. “Go … Continue reading “Talking Ag Tech, Bridging the Ann Arbor-Detroit Gap at U-M Unconference”

Gilbert’s Rockbridge Growth Equity Adds to Tech Portfolio

Dan Gilbert’s Rockbridge Growth Equity, a Detroit-based private equity firm founded in 2007, announced last month that it has acquired Tampa, FL-based Triad Retail Media, which helps companies like Walmart and eBay monetize websites through advertising. Boston-based Falcon Investment Advisors partnered with Rockbridge on the transaction, the value of which was undisclosed. Kevin Prokop, who co-founded Rockbridge with Gilbert … Continue reading “Gilbert’s Rockbridge Growth Equity Adds to Tech Portfolio”

BuyMichLocal: A Business Directory With a Twist

Michael Sacha worked as a multimedia account rep for companies like Gannett and Yahoo, where he helped businesses place ad campaigns that went across print, mobile, social, and online platforms. Working with both national agencies and local companies, he grew frustrated with what he saw as a bloated, inefficient way of doing things. He wanted … Continue reading “BuyMichLocal: A Business Directory With a Twist”

MI Social Entrepreneurship Competition Offers $50K in Prizes

Detroit’s reputation as a one-of-a-kind proving ground for innovative approaches to solving social problems got a boost today with the announcement of the Pure Michigan Social Entrepreneurship Challenge, a statewide competition offering $50,000 in cash prizes. Billed as the nation’s first coordinated, public-private effort to advance social entrepreneurship, the Pure Michigan Social Entrepreneurship Challenge is … Continue reading “MI Social Entrepreneurship Competition Offers $50K in Prizes”

Plymouth Venture Partners Invests in InContext Solutions

Plymouth Venture Partners Fund II, the Ann Arbor, MI-based growth-stage investment fund, announced last month that it led a Series C round for the Chicago-based InContext Solutions. The total value of the investment was not disclosed. InContext Solutions is a market research firm that specializes in product simulations. Jeff Barry, a Plymouth Ventures partner, says … Continue reading “Plymouth Venture Partners Invests in InContext Solutions”

ePrize Continues Its Mobile Growth With Mozes Acquisition

The Pleasant Ridge, MI-based interactive promotions company ePrize has announced its second major acquisition in 12 months, a move that represents the next big step in its plan to ramp up the mobile portion of its business. ePrize didn’t disclose the terms under which it acquired Palo Alto, CA-based Mozes, but did say it will … Continue reading “ePrize Continues Its Mobile Growth With Mozes Acquisition”

Notes From the Auto Show: Smarter, Sexier, More Fun

I feel a little silly admitting this, but the word that kept echoing in my head as I walked around this year’s installment of the North American International Auto Show (NAIAS) was “sexy.” NAIAS was all vehicles with swooping curves, swanky booths serving espresso with a fancy assortment of sweeteners, and lanky models draped over … Continue reading “Notes From the Auto Show: Smarter, Sexier, More Fun”

Mobile Madness Motor City: The Photos

Xconomy held its first Mobile Madness event in Detroit on Thursday afternoon. We had a top-notch group of speakers, fantastic sponsors and hosts, and, most importantly, an off-the-charts group of attendees. The program featured panel discussions about connected cars, enterprise mobile, and mobile apps strategy. Josh Linkner of Detroit Venture Partners told us why Detroit … Continue reading “Mobile Madness Motor City: The Photos”

Mobile Madness Motor City: Highlights and Takeaways

Startup founders, industry leaders, investors, and a high number of young, engaged Detroiters crowded into the auditorium at the Compuware Building downtown last Thursday for Mobile Madness Motor City, Xconomy’s first mobile technology event in Detroit. We’ve held Mobile Madness events to great success in other cities across the Xconomy network, and Detroit was no … Continue reading “Mobile Madness Motor City: Highlights and Takeaways”

U-M’s Frankel Fund Has First Exit, Leads Fusion Coolant’s Series A

University of Michigan’s student-led Frankel Commercialization Fund, in collaboration with the Zell Lurie Institute for Entrepreneurial Studies, announced this week that Arbor Photonics, one of the fund’s portfolio companies, has been acquired by nLIGHT, an industry leader in semiconductor lasers. The terms of the acquisition were not disclosed. “We’re really pleased for such an early-stage fund … Continue reading “U-M’s Frankel Fund Has First Exit, Leads Fusion Coolant’s Series A”

Four Startups Receive Michigan Microloan Fund Awards

The Michigan Microloan Fund Program announced last week that it has awarded a combined $156,000 in funding to four Michigan startups. The early-stage companies received the microloans to support their commercialization efforts. “The microloans are important because they give the companies an opportunity to grow and move into the entrepreneurial ecosystem,” says Joe Locavalli, who … Continue reading “Four Startups Receive Michigan Microloan Fund Awards”

See You Tomorrow at Mobile Madness Motor City

We’re gearing up for Mobile Madness Motor City, Xconomy’s first mobile event in Detroit. As the mobile tech sector continues to heat up, how will devices and applications be more seamlessly integrated into our cars, our jobs, and our lifestyles? What are Michigan’s unique opportunities to participate in and capitalize on this transformation? We’ll cover all … Continue reading “See You Tomorrow at Mobile Madness Motor City”

$2.3 Million DOE Grant Will Support MBI, Novozymes Partnership

MBI International, the Lansing, MI-based subsidiary of Michigan State University that helps companies scale up bio-based tech endeavors, has partnered with Novozymes to win a $2.3 million U.S. Department of Energy grant. The grant will support the development of new enzyme-based methods to convert corn stover into sugars, which can then be turned into biofuels, … Continue reading “$2.3 Million DOE Grant Will Support MBI, Novozymes Partnership”

Mobile Madness Motor City: WiTricity to Demo a Future Without Wires

Mobile Madness Motor City, Xconomy’s first mobile event in Detroit, will be packed with innovators, business leaders, technologists, and app developers. It will also have something you don’t often see: A live demo of how our mobile devices, from cell phones to laptops to cars, might be powered in the future—without wires. Eric Giler, CEO of … Continue reading “Mobile Madness Motor City: WiTricity to Demo a Future Without Wires”

Mobile Madness Motor City: Ford’s Connelly Will Talk Trends

We’re less than a week away from Xconomy’s first major event in Detroit, Mobile Madness Motor City. The half-day forum is packed with some of southeast Michigan’s top technology innovators tackling Michigan’s growing mobile scene and the many ways mobile is revolutionizing the way we live, work, and play. You can still get tickets for this special … Continue reading “Mobile Madness Motor City: Ford’s Connelly Will Talk Trends”

Marxent Labs’ App Transforms Print Catalogs Into eCommerce Experience

Marxent Labs, the Detroit Venture Partners-backed startup developing augmented reality technology, has launched a new app with Ballard Designs that allows consumers to use their smartphones to transform print catalogs into an e-commerce shopping experience. By using image recognition technology, the new app enables expanded product details and reviews, social sharing, and “tap-to-buy” shopping. The … Continue reading “Marxent Labs’ App Transforms Print Catalogs Into eCommerce Experience”

Backed by $1M from Compuware, Glocal Offers Location-Based News Video Site

Aaron Hodai and Lincoln Cavalieri were high school buddies, lacrosse stars for Detroit Country Day who later went on to college at Syracuse (Lincoln) and the University of Michigan (Aaron). They kept in touch and decided to take their post-collegiate careers in an entrepreneurial direction. Despite having no specific IT or journalism background, what they … Continue reading “Backed by $1M from Compuware, Glocal Offers Location-Based News Video Site”

Sastry, Startup Showcase Added to Mobile Madness Motor City Lineup

Ann Marie Sastry, president and CEO of the advanced battery startup Sakti3, is a giant in her field. She’s been working for more than a decade on the technology behind Sakti3’s solid-state lithium-ion battery for next-generation electric cars. Her company’s work has attracted investment from big names like GM, Khosla Ventures, and Beringea, as well … Continue reading “Sastry, Startup Showcase Added to Mobile Madness Motor City Lineup”

jacAPPS Will Provide Tech Support to New Ford Developer Program

Now that we’re a little over a week away from Mobile Madness Motor City, we wanted to highlight one of the event’s panelists, Paul Jacobs. Jacobs is the CEO and founder of jacAPPS, based in Southfield, MI, which he says is the result of  a 30-year career running Jacobs Media as a consultant to rock radio. (Jacobs … Continue reading “jacAPPS Will Provide Tech Support to New Ford Developer Program”

Livio Connect Adds Freemium Service for App Developers

The Ferndale, MI-based startup Livio announced today at the Consumer Electronics Show in Las Vegas that its Livio Connect API for integrating smartphone apps with vehicle hardware systems will now be available as a “freemium” service. It’s the latest move after a busy 2012, in which the automotive business-to-business tech firm completed a Series C … Continue reading “Livio Connect Adds Freemium Service for App Developers”

Mayleben Ends Short-Lived Retirement to Lead Esperion

Remember a few weeks ago when we wrote about Tim Mayleben’s retirement from Aastrom? Well, it wasn’t a retirement for good: Mayleben has a new gig as the CEO of Esperion Therapeutics, the Plymouth, MI-based startup developing small-molecule drugs to lower cholesterol. During its early years, Mayleben served as the COO and CFO of Esperion, and “In … Continue reading “Mayleben Ends Short-Lived Retirement to Lead Esperion”

Mobile Madness Motor City: Check Out the Agenda for our Jan. 17 Forum

Now that the hustle and bustle of the holidays is over, we’re getting pretty excited for Mobile Madness Motor City, Xconomy’s inaugural mobile event in Detroit. The half-day forum is packed with some of southeast Michigan’s top technology innovators tackling Michigan’s growing mobile scene and the many ways mobile is revolutionizing the way we live, … Continue reading “Mobile Madness Motor City: Check Out the Agenda for our Jan. 17 Forum”