Sonali Vijayargiya is back in Michigan after representing Midwestern VCs in the U.S. Department of Energy’s (DOE) National Clean Energy Business Plan Competition, which was held as part of the Obama administration’s Startup America Initiative. She’s the founder and managing director of Augment Ventures, an Ann Arbor, MI-based venture firm that invests in cleantech and IT startups that aim to … Continue reading “Augment Ventures’ Vijayargiya Feels Bullish About Midwestern Cleantech”
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."
A123 Talks New Battery Tech, New Hires, and More Focus on Grid Storage
Waltham, MA-based A123 Systems, the lithium-ion battery manufacturer with operations in Michigan, announced new advances in its battery technology yesterday that could have a significant impact on the company’s penetration in the transportation, grid storage, and telecommunications markets. Though A123 Systems has had a few struggles lately, most notably layoffs and a first-quarter loss of $125 million in revenue, … Continue reading “A123 Talks New Battery Tech, New Hires, and More Focus on Grid Storage”
Metabolic Solutions Announces New Findings in Diabetes Treatment
Kalamazoo, MI-based Metabolic Solutions Development Company, a company formed to develop drugs and discover new molecular targets in the treatment of insulin resistance, spent the weekend in Philadephia for the American Diabetes Association conference. While there, company officials presented findings about a newly discovered protein complex through which anti-diabetic drugs exert their insulin-sensitizing effects, says Metabolic Solutions … Continue reading “Metabolic Solutions Announces New Findings in Diabetes Treatment”
Lemonade Day Detroit Teaches Kids Entrepreneurship
Ellisa Hill, age 9, dreams of being a doctor and is a big fan of Judy Blume books. She’s also interested in being an entrepreneur, which is why she was manning a booth in Eastern Market and selling lemonade along with her brother, William, and her parents, Jill and Bill. Ellisa was one of thousands … Continue reading “Lemonade Day Detroit Teaches Kids Entrepreneurship”
Sakti3 Founder Sastry to Step Down From U-M
Detroit Xconomist Ann Marie Sastry, founder and CEO of the advanced battery startup Sakti3, has announced that she is stepping down from her post at the University of Michigan, where she has served as the Arthur F. Thurnau Professor of Mechanical Engineering, Biomedical Engineering, and Materials Science and Engineering. Sastry will be honored at a … Continue reading “Sakti3 Founder Sastry to Step Down From U-M”
Thoughts on Civic Pride, German Journalists, and Serendipity in Detroit
I’ve had the pleasure of spending some time lately with Lu Yen Roloff, a German journalist visiting Detroit, gathering information for radio and magazine pieces about the state of social entrepreneurship in our city. If nothing else, she learned something about the social serendipity that seems to hide in every corner of Detroit, waiting to … Continue reading “Thoughts on Civic Pride, German Journalists, and Serendipity in Detroit”
Rubicon Genomics Launches New DNA Amplification Technology
Late last month, Ann Arbor-based Rubicon Genomics launched its new ThruPlex technology, which uses enzymology to repair and amplify DNA molecules in samples that were previously too small or too degraded to be tested. Rubicon CEO James Koziarz describes the technology as a front end for “next generation sequencing.” ThruPlex can be used with samples as small as … Continue reading “Rubicon Genomics Launches New DNA Amplification Technology”
Student-Led Wolverine Venture Fund Invests in Sonitus Medical
The Wolverine Venture Fund, a $5.5 million fund led by students at the University of Michigan, announced last week that it joined Arboretum Ventures in a $25 million Series A investment in Sonitus Medical, a California-based medical device company. This is the second time the Wolverine Venture Fund has invested in Sonitus Medical. This time around, the … Continue reading “Student-Led Wolverine Venture Fund Invests in Sonitus Medical”
Ford Increases Focus on Outside Innovation With Two New Programs
Bill Coughlin, the CEO of Ford Global Technologies (which manages the intellectual property portfolio belonging to the Ford Motor Company), recently paid a visit to a group of students at Lawrence Technological University in metro Detroit. While there, a student showed Coughlin his design for a self-cleaning wheel. Coughlin says the concept was not only … Continue reading “Ford Increases Focus on Outside Innovation With Two New Programs”
Calling All Entrepreneurs: Apply Now for Bizdom’s Summer Session
Bizdom, the business accelerator backed by Quicken Loans’ Dan Gilbert with locations in Detroit and Cleveland, is now accepting applications for its summer 2012 session. The three-month program mentors and funds entrepreneurs who want to launch tech-based startups in Detroit or Cleveland. Successful applicants will receive up to $25,000 in seed funding in exchange for … Continue reading “Calling All Entrepreneurs: Apply Now for Bizdom’s Summer Session”
Design In Detroit Connects Creative Entrepreneurs
Earlier this month, the Detroit Creative Corridor (DC3), a business accelerator for entrepreneurs in creative fields, announced it will launch “Design in Detroit,” a new online platform to try to connect artistically minded businesses with individuals and institutions in the region. This three-year, Knight Foundation-funded effort to create a digital network for Detroit’s creative community also … Continue reading “Design In Detroit Connects Creative Entrepreneurs”
ENRG Power Systems Is Ready for Liftoff
[Corrected 5/29/12, 7:30 p.m. See below.] Milton Roye has spent most of his life working for a series of automakers and suppliers: General Motors, Delphi, Tata. It was in this capacity as a seasoned industry expert that an old classmate from MIT approached him about some new technology he’d been working on. It was a … Continue reading “ENRG Power Systems Is Ready for Liftoff”
Michigan VC Report Highlights Positive Trends
On the heels of Renaissance Venture Capital announcing earlier this month that it had its first close of $60 million on its second fund, the Michigan Venture Capital Association (MVCA) released its annual report on the state of Michigan’s venture ecosystem. Its findings? More venture capital—a 64 percent increase in the past five years—and more … Continue reading “Michigan VC Report Highlights Positive Trends”
DeVos’ Start Garden Aims to Give Grand Rapids a Jolt
A young member of a prominent Michigan family known for its wealth, its power in political circles, and its philanthropy has launched a new endeavor to try to stoke the flames of entrepreneurship in West Michigan. The DeVos family looms large in Michigan, particularly in Grand Rapids, the second-largest city in the state. They are … Continue reading “DeVos’ Start Garden Aims to Give Grand Rapids a Jolt”
What’s New With Loveland Technologies, Axonia, 3D Biomatrix?
Don’t you hate it when you read an article about a promising new company and then you never hear anything about it again? We do too, which is why we’ve checked in with Loveland Technologies, Axonia Medical, and 3D Biomatrix for updates on the state of their operations, new milestones, and future plans. Loveland Technologies: … Continue reading “What’s New With Loveland Technologies, Axonia, 3D Biomatrix?”
Shifting Code Program Helps Retrain MI Professionals for IT Jobs
According to Monster.com, there are currently 841 open software and IT development jobs in Michigan. Compare that to 319 jobs in manufacturing, 487 in healthcare, and a dismal 46 in creative and design. It’s something I hear often in my line of work: There is a severe shortage of software development talent in Michigan, and … Continue reading “Shifting Code Program Helps Retrain MI Professionals for IT Jobs”
Will 3-D Thermal Imaging Revolutionize Breast Cancer Detection?
Paul Angott is an idea man. He holds 40 patents on products such as a clock thermostat, a wireless doorbell, and a laser-guided, unmanned mower for football fields and golf courses. Throughout his career, he’s launched five companies and raised more than $10 million for his various entrepreneurial endeavors, sold more than $100 million worth … Continue reading “Will 3-D Thermal Imaging Revolutionize Breast Cancer Detection?”
Think Tech Labs Tailors Salesforce to the Real Estate Market
Yesterday, we published an article about why VC guru Jason Mendelson is feeling bullish about Michigan as a hub for entrepreneurship. He pointed out that the state’s tendency toward collaboration is an important asset that should continue to be championed. Vijay Mehra, CEO of Think Tech Labs, wholeheartedly agrees. It’s exactly the reason that, six … Continue reading “Think Tech Labs Tailors Salesforce to the Real Estate Market”
VC Guru Mendelson on MI’s Entrepreneurial Ecosystem (And Why There’s Hope)
If the turnout at yesterday’s Michigan Growth Capital Symposium is any indication, our fair state is on the upswing. The conference, in its 31st year, had roughly 450 venture capitalists, entrepreneurs, academics, and government officials in attendance. Jason Mendelson, called “the Elvis of innovation” by this very publication, gave the keynote speech titled, “The Velocity … Continue reading “VC Guru Mendelson on MI’s Entrepreneurial Ecosystem (And Why There’s Hope)”
JumpStart, NEI Plan New High Tech Accelerator in Detroit
JumpStart Inc., a Cleveland-based nonprofit focused on entrepreneurship and economic development, will team with the New Economy Initiative (NEI) to open a new high-tech accelerator in Detroit, says NEI executive director David Egner. Egner (an Xconomist) says a variety of state and regional investors will fund the accelerator and he expects it to have an … Continue reading “JumpStart, NEI Plan New High Tech Accelerator in Detroit”
Livio Connect Wins Frost & Sullivan Product Development Award
Ferndale, MI-based Livio Radio announced this week that it has won the Frost & Sullivan 2012 New Product Innovation Award for its Livio Connect API. The technology connects mobile apps on drivers’ phones to their cars, allowing the apps to show up on the stereo’s dashboard touchscreen. Frost & Sullivan is a trusted auto analyst, says Livio’s … Continue reading “Livio Connect Wins Frost & Sullivan Product Development Award”
Credentialock Wants to Conquer the Global Verification Market
My mom keeps my college diploma in a frame on the wall of her home office, but the last time I saw my college transcripts, two apartments ago, they were sitting in a moving box along with a decade’s worth of tax returns. Luckily, in the journalism profession, one doesn’t generally need to keep track … Continue reading “Credentialock Wants to Conquer the Global Verification Market”
Magna E-Car Systems: A Hybrid-Electric Success Story
In late March, the Center for Automotive Research (CAR) announced that it had decided to cancel its 2012 Business of Plugging In (BPI) conference, one of the biggest annual confabs dedicated to electric vehicles in the nation. The first Business of Plugging In conference was held in 2009. According to its website, the 2010 conference … Continue reading “Magna E-Car Systems: A Hybrid-Electric Success Story”
Ford Offers Employees Free TechShop Memberships to Spur Innovation
As TechShop Detroit celebrated its grand opening last weekend, Ford announced a new employee incentive program at the makerspace designed to encourage the next generation of Henry Fords by unleashing their inner inventors. The Employee Patent Incentive Award program gives inventors “a free three-month membership to TechShop Detroit for submitting an invention worthy of patent consideration,” … Continue reading “Ford Offers Employees Free TechShop Memberships to Spur Innovation”
New Digital Game, Social Network To Help Detroiters Map City’s Future
Detroit Works, the agency charged with planning what the Detroit of tomorrow will look like, is about to unveil a new online game and accompanying social network designed to allow Detroiters to help map the city’s future. Launching Monday, Detroit 24-7 is an interactive game funded by the Knight Foundation and designed by Community PlanIt. The Boston-based … Continue reading “New Digital Game, Social Network To Help Detroiters Map City’s Future”
Winners of “MI 50 Companies to Watch” Awards To Be Announced
The annual awards for the Edward Lowe Foundation‘s Michigan 50 Companies to Watch contest will be announced tonight at a gala celebration in Lansing. The awards go to growth-stage companies that are singled out for innovation, corporate culture, philanthropy, and the impact they make on local and state markets. To be eligible, companies must be … Continue reading “Winners of “MI 50 Companies to Watch” Awards To Be Announced”
ArdentCause Scores New Investment From Philanthropic Accelerator
ArdentCause, the Ferndale, MI-based startup that has developed software to help nonprofits manage resources and track the progress of grantees, recently received funding from the Southfield, MI-based Mission Throttle, a philanthropic accelerator, by way of the Detroit Development Fund. Though ArdentCause co-founder Kathleen Norton-Schock declines to specify the amount of the investment, she will say … Continue reading “ArdentCause Scores New Investment From Philanthropic Accelerator”
Michigan State Creates Spartan Innovations to Launch Spin-Offs
Michigan State University is stepping up its efforts to turn research into viable startups with the newly formed subsidiary Spartan Innovations, which will help the university’s faculty and students form spin-off companies based on technology developed at MSU, while also building the local culture of entrepreneurship. “Our goal is to accelerate the formation of companies … Continue reading “Michigan State Creates Spartan Innovations to Launch Spin-Offs”
MI Pre-Seed Capital Fund Awards $444,000 in Microloans to 12 Tech Startups
The Michigan Pre-Seed Capital Fund, which supports high-tech startups, recently announced it has awarded more than $444,000 in microloans to 12 companies through the Michigan Microloan Program. To qualify for the loans, which range from $10,000 to $50,000, companies must be located in Michigan, have the rights to innovative technology, be pre-revenue, and have the … Continue reading “MI Pre-Seed Capital Fund Awards $444,000 in Microloans to 12 Tech Startups”
RegainGo Offers Online Tools to Introduce Homeowners to Remodelers
Clark Covert and Jason Beale, co-founders of Detroit-based startup RegainGo, are looking to technology to try to recapture the nostalgic feeling of knowing and trusting the people who work on your home. RegainGo, sort of a hybrid between Angie’s List and Groupon, offers short-term deal coupons as a way to introduce homeowners to the home … Continue reading “RegainGo Offers Online Tools to Introduce Homeowners to Remodelers”
Xconomist of the Week: Ramsinghani On Microinvesting in a Company Town
There is a lot of talk these days in post-industrial American cities like Detroit about transforming the “brawn economy” into the brain economy. Detroit Xconomist Mahendra Ramsinghani, who runs Invest Detroit’s First Step Fund, is on the front lines of that battle to economically recalibrate. “As a community, generation after generation got up and went … Continue reading “Xconomist of the Week: Ramsinghani On Microinvesting in a Company Town”
Mt. Elliott Makerspace: Fertile Ground for Detroit’s Future Innovators
[Updated 4/18/12, 8:51 p.m. See below.] When the Mt. Elliott Makerspace, the Detroit Digital Justice Coalition, and Detroit Future hosted a DiscoTech event at the Museum of Contemporary Art last weekend, it was a uniquely Detroit affair. As kids and their grown-up escorts bounced between stations that offered lessons on everything from beat-making and computer … Continue reading “Mt. Elliott Makerspace: Fertile Ground for Detroit’s Future Innovators”
U-M Social Venture Fund Picks LearnZillion for Its First Investment
The University of Michigan’s student-run Social Venture Fund recently announced it has made its first investment in an education-tech startup called LearnZillion. The fund, which makes early-stage investments of up to $200,000, joined a syndicate of 17 investors for a Series A round valued at $2.4 million total. (The Social Venture Fund’s portion was $50,000.) … Continue reading “U-M Social Venture Fund Picks LearnZillion for Its First Investment”
U-M Student Startup Fetchnotes Offers ‘Sticky Notes for the Modern Age’
After collecting a few thousand users through a private beta launch and garnering press from the likes of the Wall Street Journal and All Things Digital, Ann Arbor, MI-based Fetchnotes opened the mobile app for its digital note-capturing service to the public last Friday. The startup, which is headed by a pair of University of Michigan … Continue reading “U-M Student Startup Fetchnotes Offers ‘Sticky Notes for the Modern Age’”
Detroit Labs, Compuware & More on the Mobile Opportunity in Michigan
The scene at a recent happy hour hosted by Detroit Labs was bustling, especially considering that the only means of event promotion were flyers hastily taped to the doors in the Madison Building, where Detroit Labs is headquartered. About 50 people crowded into the upper bar—most of them young men—and discussed their latest projects and … Continue reading “Detroit Labs, Compuware & More on the Mobile Opportunity in Michigan”
Rippld Builds a Social Network for Creative Professionals
When Rippld co-founder Adrian Walker started an independent film-production company two years ago, he was frustrated by the lack of online platforms for his fellow creative professionals to use to network, post portfolios, and share jobs. He wanted to showcase the people he used for sound work and CGI effects because, as he says, “the … Continue reading “Rippld Builds a Social Network for Creative Professionals”
Ludlow Ventures: A Family Venture “Without Ego”
Ludlow Ventures, the Detroit-based firm, has a motto: “VC without ego.” Managing partner Jonathon Triest certainly lives up to that ideal of selflessness when describing the influence his partners—his father, Brent Triest, and his great-uncle, Warren Coville—have had on his life. “They’re successful, humble, super smart, and philanthopic. They bring extraordinary talent to the table, … Continue reading “Ludlow Ventures: A Family Venture “Without Ego””
TechTown Report Sheds Light on Its Economic Impact
TechTown, the business incubator and entrepreneur training program located just north of Wayne State University in Detroit, recently released a report with some hard numbers to shed light on the economic impact it has had since it first opened in 2007. According to the report, which took seven months to prepare, TechTown has provided support … Continue reading “TechTown Report Sheds Light on Its Economic Impact”
Twitter’s Downtown Detroit Office to Chase “Big Three” Ad Dollars
Social media giant Twitter announced today that it’s opening an office in downtown Detroit, hoping to tap into the region’s pool of digital marketing dollars with a small staff focused on advertising sales. Twitter’s decision to set up shop in the Rock Ventures-owned Madison Building adds to Dan Gilbert’s quest to make the whiteboard-and-Nerf gun-heavy … Continue reading “Twitter’s Downtown Detroit Office to Chase “Big Three” Ad Dollars”
Knight Foundation Initiative Funds Innovative Civic Engagement
The Knight Foundation announced it has teamed with CEOs for Cities to fund nine projects designed to encourage civic engagement, for a total grant amount of $65,000. Xconomist Rishi Jaitly, Knight’s program director in Detroit, says the awards build on the existing momentum in the city. “We see a lot of people here leading enterprises that … Continue reading “Knight Foundation Initiative Funds Innovative Civic Engagement”
HiredMyWay Offers a New Approach to Online Jobseeking
HiredMyWay, the Detroit Venture Partners-backed startup with offices in Detroit and Chicago, saw an opportunity in the dismal job market after the U.S. economy tumbled. Matt Mosher, a twentysomething serial entrepreneur, and Erinn O’Conner, a job recruiter with 20 years of experience, teamed up to start a company with the goal of building a better … Continue reading “HiredMyWay Offers a New Approach to Online Jobseeking”
Coming Soon to Detroit: Live Bus Arrival Times Via Text Message?
The horrors of Detroit’s bus system and the hour-plus wait times riders regularly experience are well documented. In a city where so many people are carless, it’s a particularly galling problem. But if all goes according to plan, Detroit Department of Transportation (DDOT) bus riders may soon be able to have live route information sent … Continue reading “Coming Soon to Detroit: Live Bus Arrival Times Via Text Message?”
Wayne State Launches Pre-Seed Fund For Student Tech Startups
Wayne State University has launched a new pre-seed fund supporting student-run tech startups, the first of its kind in Detroit. The Warrior Fund, which is made possible through a grant from the Michigan Initiative for Innovation & Entrepreneurship, will be administered by the tech transfer office and Blackstone Launch Pad. A total of $25,000 is available … Continue reading “Wayne State Launches Pre-Seed Fund For Student Tech Startups”
UpTo: The Social Calendar App That Learned From Plancast’s Missteps
Have you ever jumped online to check your Twitter feed only to see that your friend just posted a Foursquare check-in at a restaurant you left twenty minutes ago? And then been frustrated that you hadn’t known ahead of time that your friend was going to be dining in the same spot as you? After … Continue reading “UpTo: The Social Calendar App That Learned From Plancast’s Missteps”
EcoCar 2 Competition Offers Students the Chance to Drive Future of Hybrid Cars
Students from 15 universities—including Wayne State University—are currently battling it out in the EcoCar 2 competition, which is sponsored by General Motors, the U.S. Department of Energy, Argonne National Laboratory, and 20 other industry and government entities. It offers participants the chance to gain real-world automotive engineering skills as they strive to improve the fuel … Continue reading “EcoCar 2 Competition Offers Students the Chance to Drive Future of Hybrid Cars”
Ford Chooses Palo Alto as Site of New R&D Lab
In January, Ford Motor Company announced it would build its first-ever West Coast R&D center in Silicon Valley. On Friday, Ford announced it has chosen downtown Palo Alto as the place to build it. The new location will join research divisions already located in Dearborn, MI; Aachen, Germany; Nanjing, China; and Tel Aviv, Israel. In … Continue reading “Ford Chooses Palo Alto as Site of New R&D Lab”
Flud (Quietly) Relaunches Its Android App
When we last checked in with Flud, the Web startup had just launched a new-and-improved version of its iPhone app, which allows users to aggregate, curate, and share news content. Bobby Ghoshal, Flud’s co-founder and CEO, says the company was riding high on widespread news coverage (Ghoshal says the accompanying spike in traffic briefly killed … Continue reading “Flud (Quietly) Relaunches Its Android App”
Bizdom Relaunches with New Office in the Madison, New Logo, No ‘U’
The nonprofit Detroit-based accelerator Bizdom (no more U) has relaunched with new digs in the Madison Building downtown, a spiffy new logo and website, and a few tweaks to its business model. With the new branding, Bizdom is playing up its connection to Quicken Loans’ Dan Gilbert, who created the program in 2007 and remains … Continue reading “Bizdom Relaunches with New Office in the Madison, New Logo, No ‘U’”
Venture MI II Invests $15M in Wisconsin Early-Stage Fund
Venture Michigan Fund II announced today that it has made a $15 million investment in Venture Investors Early Stage Fund V, a Madison, WI-based operation with an office in Ann Arbor, MI that focuses on investing in startups spun out of technology from midwestern universities. Venture Investors is expected to make 15 to 18 investments in … Continue reading “Venture MI II Invests $15M in Wisconsin Early-Stage Fund”
Quizzle: ‘Cracking the Nut’ of Online Personal Finance in a Down Economy
In its first year of operation, Detroit-based startup Quizzle, one of the many under the sprawling QuickenLoans umbrella, handed out free credit reports as a way to entice users. More than a million people signed up for the site. During Quizzle’s second year of operation, it began offering users products to help clean up their … Continue reading “Quizzle: ‘Cracking the Nut’ of Online Personal Finance in a Down Economy”