Stephen Rapundalo, head of the industry association MichBio, has been spending some time on Capitol Hill recently lobbying Michigan’s congressional delegation to repeal parts of the Affordable Care Act, which he says will have a chilling effect on innovation in Michigan’s nascent medical device sector. Along with representatives from 18 other states’ med-tech associations—including the … Continue reading “Xconomist of the Week: Rapundalo on How the Affordable Care Act May Thwart Innovation”
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."
Unitask Software Wants to Make Oracle Users’ Experience Better
Dale Royal, the CEO of Bloomfield Hills, MI-based Unitask Software, is not a man who lets the grass grow under his feet. In 2001, he was an executive at Veritas Software but he realized he needed to tend to his homefront, so, at age 41, he retired. “I had been running a billion-dollar company, but I … Continue reading “Unitask Software Wants to Make Oracle Users’ Experience Better”
Aastrom Closes $40 Million Financing Deal with Eastern Capital
Ann Arbor, MI-based startup Aastrom Biosciences (Nasdaq: ASTM) said today that it has completed a private placement deal with Eastern Capital Limited worth $40 million, the largest round of financing in the company’s history. Last month, Aastrom began a Phase 3 clinical study of ixmyelocel-T, the company’s multicell therapy for patients with critical limb ischemia (CLI) … Continue reading “Aastrom Closes $40 Million Financing Deal with Eastern Capital”
Ford Software Upgrade Doubles Down on Connectivity, Customer Satisfaction
Ford took another step on its journey toward becoming a mobile technology company on wheels with the release of a free MyFord Touch software upgrade to more than 300,000 existing customers. The upgrade is being mailed to MyFord Touch users in the form of a USB flash drive that contains the new software, detailed instructions for … Continue reading “Ford Software Upgrade Doubles Down on Connectivity, Customer Satisfaction”
Tech Twurl:Whiz Kid Runs Online Enterprise From His Dorm Room
Usman Majeed is not your typical college student (though, admittedly, my concept of the modern college student is heavily shaped by Texts From Last Night). He studies neuroscience at Michigan State University in preparation for med school, and, in his off hours, he runs a successful online business called Tech Twurl, where he buys old … Continue reading “Tech Twurl:Whiz Kid Runs Online Enterprise From His Dorm Room”
U-M Business Competition Awards $90K to Student Startups
I don’t have any children, but almost all of my girlfriends do. I remember a time early last decade when they were constantly shipping maternity clothes back and forth to one another to avoid spending money on an entirely new wardrobe. They could have used a website like Fashion Forward Maternity, an online boutique that … Continue reading “U-M Business Competition Awards $90K to Student Startups”
A123 Systems Inks Supply Deal With India’s Tata Motors
A123 Systems (NASDAQ: AONE), the Watertown, MA-based manufacturer of lithium-ion battery packs with significant operations in Michigan, today announced a deal with Tata Motors to supply battery packs for its line of hybrid electric buses and other commercial vehicles. Tata Motors is India’s largest automaker. “Strategically, this is very important for us since Tata has … Continue reading “A123 Systems Inks Supply Deal With India’s Tata Motors”
MBI Helps Biotech Companies De-Risk and Expand
MBI International, a wholly owned subsidiary of the Michigan State University Foundation, has an ambitious goal: To help Michigan’s bioeconomy sector grow by working with companies to negotiate the “valley of death”—taking their early-stage innovations to commercial viability, and, if failure is imminent, helping companies fail quickly before too much money is spent. That MBI … Continue reading “MBI Helps Biotech Companies De-Risk and Expand”
Seven MI Universities to Partner in Tech Transfer Talent Network
The University of Michigan’s tech transfer office will lead a new two-year, $2.4 million initiative to help state universities take advantage of local entrepreneurs and innovators in an effort to commercialize university technology. The Michigan Economic Development Corporation is funding the Tech Transfer Talent Network, and other member universities are Wayne State University, Michigan State University, … Continue reading “Seven MI Universities to Partner in Tech Transfer Talent Network”
Xconomist of the Week: Rich Sheridan and the Business Value of Joy
[Corrected 2/24/12, 10:00 am. See below.] The first thing you notice upon walking into Menlo Innovations, a small open-plan office in Ann Arbor, MI, is how hard everyone is working. There is a hive-like focus and intensity, so much so that the 40-member staff seems oblivious to the presence of a stranger with a notebook and … Continue reading “Xconomist of the Week: Rich Sheridan and the Business Value of Joy”
SE Michigan Startups Nab Pre-Seed, Microloan Funding
Ann Arbor SPARK and Wayne State University recently announced that eleven Southeast Michigan startups have received investments from the Michigan Pre-Seed Capital Fund and microloan awards from the Ann Arbor/Ypsilanti Local Development Financing Authority (LDFA). The investments are meant to help early-stage companies commercialize their technology. Three companies from TechTown’s business accelerator program received pre-seed … Continue reading “SE Michigan Startups Nab Pre-Seed, Microloan Funding”
LiveSnip Nabs Startup Weekend Detroit Win Among A Talented Crowd
When I walked into the Madison Building Sunday night for the final round of Startup Weekend Detroit pitches, I worried for a moment that I might be the oldest person in the room. As MGMT and Deadmau5 throbbed from the auditorium’s speakers, groups of mostly male twentysomethings huddled in groups, intently pecking away on various … Continue reading “LiveSnip Nabs Startup Weekend Detroit Win Among A Talented Crowd”
D:Hive Helps Detroit’s Newly Arrived Entrepreneurs Plug In
I don’t know about you, Detroiters, but I feel like we’ve turned a corner on this revitalization thing. The energy around town is building, there are interesting little projects under way in every corner of the city, and people are moving here at a steady clip. The word of mouth has spread, and Detroit is … Continue reading “D:Hive Helps Detroit’s Newly Arrived Entrepreneurs Plug In”
EPA Expands Innovative Compound-Testing Collaboration With BioSeek
The Detroit-based life sciences company Asterand (LSE: ATD) recently announced that the U.S. Environmental Protection Agency (EPA) has expanded its collaboration with BioSeek, a wholly owned Asterand subsidiary, on the ToxCast environmental compound testing program. The EPA first began working with BioSeek, which is based in South San Francisco, in 2007. The new agreement includes an additional … Continue reading “EPA Expands Innovative Compound-Testing Collaboration With BioSeek”
No Jobs in Detroit? Bizdom U Startup Begs to Differ
It’s an oft-repeated Detroit lament: There are no jobs in this city and even if there were, the undereducated masses wouldn’t qualify for them. Not so fast, says Antonella Solomon, chief operating officer of Launch Learning Group (LLG), a Bizdom U start-up launched in 2010. Her company has created a training course which utilizes innovative, … Continue reading “No Jobs in Detroit? Bizdom U Startup Begs to Differ”
RetroSense Therapeutics’ Blindness Therapy Lands Investment
On Friday, the Maryland-based Foundation for Fighting Blindness announced it has invested $250,000 in a vision-restoring therapy developed by Ann Arbor, MI-based startup RetroSense Therapeutics. The technology RetroSense uses was licensed from Wayne State University, where it was pioneered by anatomy and cell biology professor Zhuo-Hua Pan. RetroSense works with a photosensitivy gene called Channelrhodopsin-2 … Continue reading “RetroSense Therapeutics’ Blindness Therapy Lands Investment”
Xconomist of the Week: Tim Mayleben on Building University Startups
Last month, Aastrom Biosciences president and CEO Tim Mayleben and his wife, Dawn, announced they are funding a new “venture shaping” program at the University of Michigan. Venture shaping refers to the process of systematically vetting a nifty idea for a startup, with the idea that the failure of a less-than-viable business will occur at … Continue reading “Xconomist of the Week: Tim Mayleben on Building University Startups”
Is DVP’s Quest to Get Startups to Detroit Working? Ask Shawn Geller
[Corrected 2/9/12, 9:05 a.m. See below.] A few weeks ago, Dan Gilbert and the Detroit Venture Partners (DVP) crew welcomed reporters for a tour of the newly renovated Madison Building in downtown Detroit. Gilbert had recently spent $12 million to turn the former theater into a sort of fantasy workspace for budding entrepreneurs, and the … Continue reading “Is DVP’s Quest to Get Startups to Detroit Working? Ask Shawn Geller”
Detroit4Detroit: Citizen Philanthropy for a Digital World
Citizen Effect, the Washington, D.C.-based microphilanthropy organization that is perhaps best known for its work in India, has just launched a new initiative called Detroit4Detroit, which aims to fund 150 community-improvement projects using a strategy that’s heavy on social networking and other digital tools. “Detroit4Detroit is based around the idea that anyone can be a philanthropist,” … Continue reading “Detroit4Detroit: Citizen Philanthropy for a Digital World”
Wayne State Hires Former Pharma Exec to Lead Tech Commercialization Efforts
In Michigan, technology spun out of the University of Michigan is firmly entrenched in the startup success stories that get the most press: HandyLab, Accuri Cytometers, and the like. What’s less publicized is the key role Wayne State University’s technology has played in major companies like Asterand and the California-based SciClone Pharmaceuticals. Wayne State is particularly … Continue reading “Wayne State Hires Former Pharma Exec to Lead Tech Commercialization Efforts”
Flagship Ventures Plans to Open Michigan Office
Cambridge, MA-based Flagship Ventures, a $900 million fund known for its successes with companies such as Accuri Cytometers and Acceleron Pharma, is planning to open an office in Michigan in the next six months, says Sean O’Donnell, VP at Credit Suisse’s Michigan office. The move comes after Venture Michigan Fund II (VMF II), a fund-of-fund which is … Continue reading “Flagship Ventures Plans to Open Michigan Office”
Angel Gambino: The Ultimate Early Adopter Sets Her Sights on Detroit
Serial entrepreneur Angel Gambino has every right to be arrogant—as people with resumes like hers often are—but she’s as down-to-earth and polite as they come. Sure, a casual question about which local gym she prefers reveals that she’s currently training to be an Olympic soccer-team liaison, the Olympics’ most senior volunteer role and one which … Continue reading “Angel Gambino: The Ultimate Early Adopter Sets Her Sights on Detroit”
Something New for Shoppers in Downtown Detroit: Virtual Retail
Detroiters often grumble about the relative lack of shopping options downtown compared to other cities of similar size. Sure, there are boutiques here and there, as well as a handful of stores in the Renaissance Center and the Millender Center, but there is no Urban Outfitters; no American Apparel; no Macy’s. Somerset CityLoft, a pop-up … Continue reading “Something New for Shoppers in Downtown Detroit: Virtual Retail”
Detroit Startup Takes a 2.0 Approach to Capturing, Sharing Wedding Memories
Brett deMarrais had only been to one wedding in his life—his cousin’s—before he launched his company in 2010. “I saw that they didn’t have a videographer, and I found out the reason why was because of the price,” deMarrais says. “My cousin always regretted that decision.” Like so many entrepreneurs before him, deMarrais had a “there must be … Continue reading “Detroit Startup Takes a 2.0 Approach to Capturing, Sharing Wedding Memories”
Xconomist of the Week Chris Rizik: Who Says A VC Has No Soul?
Chris Rizik is one of Michigan’s most important and successful venture capitalists. He’s the CEO and fund manager of Renaissance Venture Capital, a fund of funds that is perhaps best known for its early backing of the medical device company HandyLab, a University of Michigan spinout that was later purchased by New Jersey’s Becton Dickinson … Continue reading “Xconomist of the Week Chris Rizik: Who Says A VC Has No Soul?”
Notes From the Detroit Auto Show: Connectivity is King
Though the North American International Auto Show just opened to the public Saturday, I was able to preview it last week with other reporters from around the world. Unlike the past few years, which were dominated by austerity and green tech, the feeling I got this year is that the car companies are seeking to … Continue reading “Notes From the Detroit Auto Show: Connectivity is King”
Axonia Medical Raises $1 Million in Seed Financing
[Corrected 1/16/12, 1:20 p.m. See below.] When Xconomy’s biotech editor Luke Timmerman first wrote about Axonia Medical in January 2011, he wondered if the Kalamazoo, MI-based startup would be able to raise the investment funds it needs, given the cautious venture-capital climate and the unprecedented nature of Axonia’s nerve-regeneration technology. The startup produces living, functional tissue-engineered nerve … Continue reading “Axonia Medical Raises $1 Million in Seed Financing”
Howard University Grad’s Startup Connects Alums to HBCU Apparel
Clover McFadden grew up in Detroit, where she graduated from Renaissance High School before heading to Washington, D.C., to attend Howard University. She got her degree in chemistry and she planned to go into medicine. After graduating from Howard, she came back to Detroit to regroup. Then a funny thing happened on the way to … Continue reading “Howard University Grad’s Startup Connects Alums to HBCU Apparel”
Ford to Open New Research Lab in Silicon Valley
The Ford Motor Company announced Friday that it plans to open its first-ever dedicated R&D center on the West Coast in Silicon Valley early this year—a move in line with the automaker’s vision of becoming a company that builds mobile computers on wheels. K. Venkatesh Prasad, senior technical leader for open innovation with Ford Research and … Continue reading “Ford to Open New Research Lab in Silicon Valley”
CytoPherx Raises $34M Toward Finishing Clinical Trial
Ann Arbor-based CytoPherx, a medical device company focusing on inflammation-based diseases, announced yesterday that it has raised $34 million in a new round of financing. A large group of investors participated in the round, including Ohio-based Early Stage Partners, California-based Onset Ventures, and Wisconsin-based Capital Midwest Fund. This latest round of funding comes on top … Continue reading “CytoPherx Raises $34M Toward Finishing Clinical Trial”
DIVDAT: Pivoting Into a New Generation of Data Processing
Forty years ago, Al Bierkle, a salesman at Kelly Services, and Bill Bierkle, an IT employee at Chrysler, saw the future of data processing: bulky yet powerful machines that could perform tasks far more efficiently than humans could. Mainframe computers were starting increase in popularity, so the Bierkle brothers plunked down $1,200 a month to … Continue reading “DIVDAT: Pivoting Into a New Generation of Data Processing”
Detroit in 2012: The Rebirth Story That’s For Real
I’ve been dithering over my task of writing a year-end piece for Xconomy. Partly because I’m not a huge fan of them, and partly because, when it comes to my thoughts about the future of Detroit, there is just so darn much to contemplate. Since I started this job in July, I have had the … Continue reading “Detroit in 2012: The Rebirth Story That’s For Real”
A Detroit Mom’s Quest to Breathe Innovation Into Young Minds
I’m fond of saying that what Detroit needs is a Cory Booker. But I need to amend that: What Detroit really needs is a few more people like Ida Byrd-Hill, the founder of Uplift Inc., a startup whose motto is “Utilizing intellectual property, real estate, and technology to lift people out of tragedy by reconstructing cities … Continue reading “A Detroit Mom’s Quest to Breathe Innovation Into Young Minds”
Potential Treatment for Degenerative Eye Diseases Developed at Wayne State
Former Wayne State University opthalmology researchers Raymond Iezzi and Rangaramanujam Kannan have developed a new way to treat age-related macular degeneration and retinitis pigmentosa using injections of nanoparticles, the university announced earlier this month. Iezzi, who has since gone on to the Mayo Clinic, and Kannan, who is now with Johns Hopkins, are currently in … Continue reading “Potential Treatment for Degenerative Eye Diseases Developed at Wayne State”
TechShop Mines Detroit’s Innate DIY Culture With New Location
[Corrected on 12/30/11, 1:25 p.m. See below.] Roughly 18 months after Menlo Park, CA-based TechShop announced it was partnering with Ford on a new location in metro Detroit, the communal, membership-based DIY maker space is ready to welcome the public next week at an open house on Dec. 27. [Paragraph has been updated to reflect … Continue reading “TechShop Mines Detroit’s Innate DIY Culture With New Location”
A123 Systems, NSTAR Partner on Grid Energy Storage Project
Waltham, MA-headquartered lithium-ion battery manufacturer A123 Systems, which has operations in Michigan, announced today that it is kicking off a pilot project with Boston-based NSTAR to study the benefits of employing the A123’s grid battery technology in a suburban electric grid. The system, NSTAR’s first battery energy storage project, is expected to be up and running in 2012 … Continue reading “A123 Systems, NSTAR Partner on Grid Energy Storage Project”
Fighting Crime with Technology: A Detroit Success Story
In Forbes magazine’s annual piece about America’s most dangerous cities, published in October, the article leads with an anecdote from Detroit. Detroit has been a mainstay on such lists for decades, and last year, it led the nation in violent crimes with with 345 murders and 1,111 violent crimes reported per 100,000 residents. According to … Continue reading “Fighting Crime with Technology: A Detroit Success Story”
Updated Flud Platform Combines News Aggregation and Social Networking
According to Bobby Ghoshal, the future of news consumption is in finding new ways for users to interact with content and influence other users’ reading habits, and the development of online “news personalities.” Ghoshal is the co-founder and CEO of Flud, a news aggregation app that unveiled its updated platform for the iPhone and iPad earlier … Continue reading “Updated Flud Platform Combines News Aggregation and Social Networking”
Ann Arbor’s Everist Genomics Develops New Tests for Cancer Risk
There’s a long-held belief that, if caught early, colorectal cancer is almost always treatable through surgery alone. But according to Ann Arbor-based Everist Genomics, nearly one in three Stage 2 colon cancer patients who have surgery alone, without adding chemotherapy, will suffer a recurrence of their cancer. And more than 80 percent of those patients, Everist says, will … Continue reading “Ann Arbor’s Everist Genomics Develops New Tests for Cancer Risk”
Leaders of Entrepreneurial Programs From MI Universities Gather
Last Thursday and Friday, leaders of entrepreneurial studies programs from seven Michigan universities met in Lansing for the Michigan Entrepreneurship Leaders Forum, where they discussed what’s working in their individual programs, how they might be able to collaborate in the future, and how all of their efforts might help boost the state’s economy. “I’ve been … Continue reading “Leaders of Entrepreneurial Programs From MI Universities Gather”
Lakeside Software Opens New Location in Downtown Ann Arbor
Lakeside Software, the Bloomfield Hills, MI-based developer of business-intelligence solutions for IT professionals, recently announced it will open a new 3,800-square-foot R&D center above Vinology, on Main Street in downtown Ann Arbor. The move caps a decade of growth and is meant to take advantage of Ann Arbor’s proximity to the young professionals graduating from … Continue reading “Lakeside Software Opens New Location in Downtown Ann Arbor”
DVP-Backed Marxent Labs Wants to Augment Your Shopping Experience
Thanks to a $700,000 investment from Detroit Venture Partners, Detroit-based Marxent Labs launched its ShopWith.It app two weeks ago, right in time for the holidays. ShopWith.It allows consumers to scan product barcodes or take photos, then share and discuss those products with friends. “Most of us have a network of friends and family who are … Continue reading “DVP-Backed Marxent Labs Wants to Augment Your Shopping Experience”
NanoBio, Merck to Collaborate on Gates-Funded RSV Vaccine
The acronym RSV is one that often inspires dread in the hearts of parents—it stands for Respiratory Syncytial Virus, and it hospitalizes 75,000 to 125,000 children under the age of one each year, infecting almost all children by the age of two. RSV can also have a life-threatening impact on the elderly. There is a … Continue reading “NanoBio, Merck to Collaborate on Gates-Funded RSV Vaccine”
Urban Science Expands Detroit Headquarters to Accommodate Growth
Urban Science, a Detroit-based company founded 34 years ago to help bridge science and marketing functions primarily for automotive clients, recently announced it has expanded to a larger and completely renovated 100,000-square-foot space. The new digs, at 400 Renaissance Center in Detroit, will accommodate Urban Science’s growing business and work force. “People think of the … Continue reading “Urban Science Expands Detroit Headquarters to Accommodate Growth”
Ingenuitas Puts Open-Source Software to Work in Manufacturing
In ancient Roman times, Ingenuitas was a legal term for those who had been born free, and the word served to distinguish those who had enjoyed freedom since birth from freemen who started out in slavery. Nathan Oostendorp, Katherine Scott, and Anthony Oliver chose Ingenuitas as the name of their startup tech company because the … Continue reading “Ingenuitas Puts Open-Source Software to Work in Manufacturing”
ALTe Named to Forbes List of America’s Most Promising Companies
Last week, Forbes magazine announced that Auburn Hills, MI-based ALTe Powertrain Technologies, developer of the first range-extended plug-in hybrid electric vehicle powertrain for light commercial fleet applications, made its list of America’s most promising companies. ALTe is one of only three companies listed in the Capitol Goods industry category, the only hybrid technology company, and the … Continue reading “ALTe Named to Forbes List of America’s Most Promising Companies”
U-M Competition Helps Earliest Stage Startups Refine Business Models
The Michigan Business Challenge, a four-month business plan competition sponsored by the University of Michigan’s Zell Lurie Institute, kicks off today in Ann Arbor. Student teams will compete for $60,000, gaining valuable feedback and broadening networks along the way. And the public is invited to watch at every step. Tim Faley, managing director of the institute … Continue reading “U-M Competition Helps Earliest Stage Startups Refine Business Models”
WorkForce Software Raises $17 Million in Series A, Mezzanine Funding
Livonia, MI-based WorkForce Software recently announced it has raised $17 million in Series A and mezzanine funding. The round of funding came from Los Angeles-based K1 Capital and Raleigh, NC-based Triangle Capital, and is a combination of Series A funding ($5 million) and mezzanine funding ($12 million). The company was founded in 1999 by three Michigan natives … Continue reading “WorkForce Software Raises $17 Million in Series A, Mezzanine Funding”
Cheers and Jeers: National Surveys Find Southeast Michigan Sad, Booming, Smart
Another day, another (wholly unscientific) survey from Men’s Health indicating Detroit is a crappy place to live. This time, they’ve named the Motor City the second saddest city in the United States; in August, the lad mag skewered residents of our fair city for not buying iPads fast enough. This time around, they’ve created their … Continue reading “Cheers and Jeers: National Surveys Find Southeast Michigan Sad, Booming, Smart”
MSU Bioeconomy Institute Snags State and Federal Funding For Proof of Concept Center
The Michigan State University Bioeconomy Institute in Holland, MI announced earlier this month that, in an effort to establish a cluster of biotech businesses, it is the recipient of more than $1 million in grants: $580,000 from the U.S. Commerce Department’s Economic Development Administration and $500,000 from the Michigan Economic Development Corporation. The grants will … Continue reading “MSU Bioeconomy Institute Snags State and Federal Funding For Proof of Concept Center”