In September, Backstage Capital, a venture investment firm seeding early-stage startups led by women, people of color, and members of the LGBTQ community, launched a $36 million fund to help support black women founders. At the same time, managing partner Arlan Hamilton said the Los Angeles-based firm would run accelerators in four cities: London, Philadelphia, … Continue reading “No Pipeline Problem: Backstage Capital’s Detroit Plans Spark Excitement”
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."
Ford Mobility News: Self-Driving Car Tests in DC, Avis App Deal
Ford made a couple of announcements this week regarding mobility and its efforts to get self-driving cars on the road. According to a blog post published Monday by Sherif Marakby, CEO of Ford’s autonomous vehicle division, the automaker will expand testing of driverless cars to Washington, DC. “Not only do self-driving vehicles need to operate … Continue reading “Ford Mobility News: Self-Driving Car Tests in DC, Avis App Deal”
U-M Reports 2018 Rise in Inventions, Licensing, and Startups
Every fall, the University of Michigan formally celebrates the inventions and companies spun out of the school’s research and development efforts. This year, there was a lot to celebrate: according to U-M, a record number of 21 startups were launched during the 2018 fiscal year ending June 30, nearly doubling the previous year’s number. U-M … Continue reading “U-M Reports 2018 Rise in Inventions, Licensing, and Startups”
PERQ Raises $5 Million to Advance Digital “Guided Shopping” Platform
Indianapolis-based digital marketing firm PERQ has received another injection of seed capital. The company announced last week that it secured $5 million in follow-on investments in a seed round initiated in 2016, for a total of $7.5 million raised, says co-founder and CEO Andy Medley. This latest chunk of capital comes from Elevate Ventures; Collina Ventures; … Continue reading “PERQ Raises $5 Million to Advance Digital “Guided Shopping” Platform”
Roundup: OptimizeRx, Parabricks, URC, Startup Detroit, ACM and More
The weather is finally starting to cool—I’m a fan of fall —but Michigan’s tech startups and entrepreneurs are still red-hot: they’re raising money, buying competitors and complementary companies, launching new products, and more. Read on for recent news about the state’s innovation community. —Rochester’s OptimizeRx, a digital health company focused on facilitating digital communication between … Continue reading “Roundup: OptimizeRx, Parabricks, URC, Startup Detroit, ACM and More”
With $8M in New Capital, Vayavision Refines Raw Data Fusion for AVs
The race to get driverless cars on the road is a global endeavor, and one nation putting its pedal to the metal is Israel. A host of Israeli companies are working to develop the technologies that help these vehicles function properly, and one of those companies is called Vayavision. Based in Tel Aviv, Vayavision is … Continue reading “With $8M in New Capital, Vayavision Refines Raw Data Fusion for AVs”
After $950K Investment, Codelicious Grows Collaborative Teaching Model
Codelicious, the Indianapolis-based educational tech startup, is on a mission to create access and remove barriers to teaching and learning computer science, says CEO Christine McDonnell. Over the summer, the organization raised nearly $1 million from Collina Ventures, GRE Capital, Elevate Ventures and others to advance its software platform that enables instructors to build their … Continue reading “After $950K Investment, Codelicious Grows Collaborative Teaching Model”
Fusion Coolant Systems Snags $8M Series C, Plans to “Hit Go Button”
Fusion Coolant Systems, the Canton, MI-based industrial tech startup spun out of the University of Michigan, has raised an $8 million Series C funding round. The investment was led by Material Impact, a Boston venture capital firm, and Michigan Capital Advisors, with participation from existing investors, including U-M’s Michigan Investment in New Technology Startups (MINTS), … Continue reading “Fusion Coolant Systems Snags $8M Series C, Plans to “Hit Go Button””
Reuters Report Ranks U-M Among World’s Most Innovative Universities
The University of Michigan has been named one of the 100 most innovative university systems in the world in a new report issued Thursday by Reuters. Reuters said the list ranks “educational institutions doing the most to advance science, invent new technologies, and power new markets and industries.” U-M snagged the 23rd spot, making it the … Continue reading “Reuters Report Ranks U-M Among World’s Most Innovative Universities”
Planes, Drones & Automobiles: Techstars Grads Run the Mobility Gamut
On Tuesday afternoon, before a packed house at the Detroit Institute of Art’s film theatre, 11 startups just finishing a summer stint in the Techstars Mobility accelerator program took to the stage to talk more about what their companies were developing. Company founders pitched to a crowd of investors, entrepreneurs, automotive and tech executives, and … Continue reading “Planes, Drones & Automobiles: Techstars Grads Run the Mobility Gamut”
New VARI Initiative Aims to Understand How Metabolism Drives Disease
Back in the 1990s, dietary fat was considered “Enemy Number One.” In the late ’80s, new research had found that a diet high in saturated fat was a major cause of poor health, so a low-fat food craze was born. Cookies, crackers, cake, ice cream, bread—just about everything had a low-fat version in the ’90s. … Continue reading “New VARI Initiative Aims to Understand How Metabolism Drives Disease”
OneCause Snags $4M Investment, Plans to Expand Fundraising Platform
OneCause, an Indianapolis-based fundraising platform formerly known as BidPal, has experienced a few changes over the past year: It has a new name, acquired Great Feats in April, and raised $4 million in venture funding last month. “As we grew, we wanted to send a message to our clients and team by putting ‘cause’ first [in … Continue reading “OneCause Snags $4M Investment, Plans to Expand Fundraising Platform”
Honda to Invest $2.75 Billion in Cruise, GM’s Driverless Car Subsidiary
Partnerships between major companies traditionally seen as competitors are a hallmark of the mobility industry, and today marked the announcement of one more: Honda will pay $2.75 billion and take a 5.7 percent stake in Cruise, GM’s autonomous vehicle subsidiary. As part of the deal, Honda will also lend its engineering expertise to GM’s driverless … Continue reading “Honda to Invest $2.75 Billion in Cruise, GM’s Driverless Car Subsidiary”
Detroit’s GuardHat Snags $20M Series A for Industrial IoT Platform
Hundreds of people in the U.S. die from industrial accidents every year, according to federal data. Part of the reason manufacturing jobs remain so deadly, argues GuardHat co-founder and CEO Saikat Dey, is because the sector’s technology has not progressed as rapidly as it has in the enterprise software and consumer tech markets. This week, … Continue reading “Detroit’s GuardHat Snags $20M Series A for Industrial IoT Platform”
Peerstachio Aims to Help College Students Access Help From Classmates
Scarlett Ong Rui Chern, an international student attending the University of Michigan, says she initially felt a little discombobulated by the college experience. “I had a rough first year,” she admits. What she wanted back then was an on-demand network of peer advisors she could call on for help. Not finding exactly what she was … Continue reading “Peerstachio Aims to Help College Students Access Help From Classmates”
Author Hits Detroit to Discuss Dangers of Automating Public Assistance
There are few life events more stressful than suddenly losing a job. One of the safety net measures in place for displaced workers is unemployment insurance: reoccurring, state-administered benefit checks that eligible workers receive for a few months while trying to get back on their feet. That’s how the system is supposed to work, anyway. … Continue reading “Author Hits Detroit to Discuss Dangers of Automating Public Assistance”
WaveSense Uses Ground-Penetrating Radar to Help Driverless Cars See
Those of us keeping tabs on the mobility industry have heard a lot about the development of sensors and other computer vision technologies to help autonomous vehicles “see” and interpret the landscape around them. WaveSense, a startup spun out of MIT, is adding ground-penetrating radar to the mix, which the company says could increase navigation … Continue reading “WaveSense Uses Ground-Penetrating Radar to Help Driverless Cars See”
Sigstr Snags $4M Funding Round as Marketing Tech Sector Gets Hotter
Sigstr, the Indianapolis-based marketing tech startup, announced this week that it has raised $4 million in new venture funding. The round was led by Edison Partners, with participation from past investors, including Hyde Park Venture Partners, HubSpot Ventures, High Alpha Capital, Battery Ventures, and 4G Ventures. Bryan Wade, Sigstr’s CEO, says the company plans to … Continue reading “Sigstr Snags $4M Funding Round as Marketing Tech Sector Gets Hotter”
MIT Inclusive Innovation Challenge to Honor Winners at Detroit Event
Technology has been transforming the way we work for decades, and MIT believes figuring out how to leverage it to rethink jobs and community prosperity is a grand technological challenge of our time. To respond to what the university calls an “economic and moral imperative,” it created the Inclusive Innovation Challenge (IIC), which lands in … Continue reading “MIT Inclusive Innovation Challenge to Honor Winners at Detroit Event”
Mi Padrino Builds Event-Planning Hub for Latino Communities in U.S.
Kim Gamez, CEO and co-founder of the Ann Arbor, MI-based startup Mi Padrino, is a self-described “all-American Gringa” who grew up in farm country. She fell in love with Hispanic culture as she got to know her husband Hugo, a native of San Luis Potosi, Mexico. One of her favorite traditions was that of the … Continue reading “Mi Padrino Builds Event-Planning Hub for Latino Communities in U.S.”
May Mobility Rolling Out Self-Driving Shuttles in Ohio’s Capital
May Mobility, the Detroit-based startup putting self-driving shuttles on urban streets, today announced it will soon begin operations in a new city: Columbus, OH. May has operated autonomous shuttles in downtown Detroit since June, providing transportation to employees of Bedrock, a private company. By contrast, May’s Ohio shuttles will be open to the public, says … Continue reading “May Mobility Rolling Out Self-Driving Shuttles in Ohio’s Capital”
Emplify Bags $7.5M to Give Employers Better Staff Engagement Data
Emplify, the Fishers, IN-based startup focused on software to improve employee engagement, today announced that it has raised a $7.5 million Series A funding round. Since it was spun out of Bluebridge in 2016, co-founder and CEO Santiago Jaramillo says Emplify has experienced swift growth—customers include Harley-Davidson and Terminus—and now has 65 employees. “We’re bigger … Continue reading “Emplify Bags $7.5M to Give Employers Better Staff Engagement Data”
Belinsky Gifts $500K to WSU to Create Lab for Student Entrepreneurs
In August, Wayne State University held a ribbon-cutting ceremony for its new Mike Ilitch School of Business, a $40 million, state-of-the-art facility in Detroit’s Midtown neighborhood. The business school announced another piece of good news this summer when alumnus Russ Belinsky donated $500,000 to establish the Belinsky Entrepreneurial Learning Library, which aims to kick-start student … Continue reading “Belinsky Gifts $500K to WSU to Create Lab for Student Entrepreneurs”
Detroit’s StockX Raises $44M Funding Round, Plans to Hire 1,000
StockX, the online “stock market of things” focused on sneakers and other high-demand, limited-edition products, has closed one of the largest investment rounds raised by a Detroit startup and announced yesterday that it now plans to go on a major hiring spree. The news came from StockX CEO Josh Luber during a keynote speech at the … Continue reading “Detroit’s StockX Raises $44M Funding Round, Plans to Hire 1,000”
Don’t Fear the Robot: Humatics, Eckhart Push Factory Automation Tech
The state of American manufacturing has become an increasingly hot topic of conversation since the 2016 presidential election laid bare the discontent felt by workers and business owners alike. However, companies like Algonac, MI-based Eckhart and Cambridge, MA-based Humatics see an opportunity to reinvigorate American manufacturing through so-called “Industry 4.0” technologies—automated, connected, and collaborative tools … Continue reading “Don’t Fear the Robot: Humatics, Eckhart Push Factory Automation Tech”
South Bend Code School Adds Revenue Stream with Code Works Dev Shop
When South Bend Code School launched in 2015, its founders were looking for a way to teach kids career skills that might enable them to find a job without a college degree. As that effort grew and gained popularity, people in the community began reaching out to SBCS seeking software development work. “As we were … Continue reading “South Bend Code School Adds Revenue Stream with Code Works Dev Shop”
Roundup, Part II: CityLab Detroit, U-M, Small Business Murals, More
We’re back after the long Labor Day weekend with part two of a roundup of recent Michigan innovation news. To see part one, click here. —CityLab, a global summit organized by The Atlantic magazine, the Aspen Institute, and Bloomberg Philanthropies to address urgent urban issues, has chosen Detroit as the location of its 2018 conference. … Continue reading “Roundup, Part II: CityLab Detroit, U-M, Small Business Murals, More”
Roundup, Part I: TechHire Bootcamp, Genomenon, Leading2Lean, Cengage
Time flies when you’re working hard. Although summer is nearly over, Michigan’s startup clusters keep humming along. In fact, so much is happening, we’ve divided this roundup into two parts. Part two will run Sept. 4. Read on for recent innovation news from around the state. —Detroiters age 18 and older have until Friday to … Continue reading “Roundup, Part I: TechHire Bootcamp, Genomenon, Leading2Lean, Cengage”
With $500M Toyota Deal, Uber Sheds Go-It-Alone Driverless Car Goal
When an autonomous Uber car being tested in Arizona collided with a pedestrian last March, it resulted in the first known fatality caused by a driverless vehicle. The accident had a jarring effect on the entire mobility industry, but Toyota was one of the few players that took direct action in the wake of the … Continue reading “With $500M Toyota Deal, Uber Sheds Go-It-Alone Driverless Car Goal”
SupplyKick Helps Brands Use Amazon’s Platform for Sales, Marketing
Amazon, the retail giant with tentacles into a number of other verticals, has changed life—or shopping, at least—as we know it. The Seattle-based company has also spawned new industries and consultancies that revolve around successfully maximizing the functionality of Amazon’s various platforms. Indianapolis-based SupplyKick is one such company helping retail brands to better understand and … Continue reading “SupplyKick Helps Brands Use Amazon’s Platform for Sales, Marketing”
Grand Angels Kicks Off Third Fund Targeting $25M to Seed Startups
Grand Angels, the West Michigan angel investing collective, is raising a third venture fund, called Grand Angels Venture Fund III. Paul D’Amato, a member of the group and the manager of GA Fund III, says the goal is to raise $25 million. As in previous Grand Angels funds, it will focus on advancing startups working … Continue reading “Grand Angels Kicks Off Third Fund Targeting $25M to Seed Startups”
Meet the Startups Participating in Techstars Mobility’s Class of 2018
Detroit’s Techstars Mobility accelerator has announced its new cohort of startups working to advance technologies related to the movement of people and goods. Eleven companies are participating in the program this year, and, in a Medium post, program director Ted Serbinski said all of them have “diverse founding teams in regards to gender, ethnicity, or … Continue reading “Meet the Startups Participating in Techstars Mobility’s Class of 2018”
Wayne State Celebrates the Opening of $40M Ilitch School of Business
A gaggle of local officials were on hand Tuesday for a ribbon-cutting ceremony at Wayne State University’s Mike Ilitch School of Business building, located next to Little Caesars Arena on Woodward Avenue in Detroit’s Midtown neighborhood. The new facility was made possible by a $40 million donation in 2015 from Mike and Marian Ilitch, the co-founders … Continue reading “Wayne State Celebrates the Opening of $40M Ilitch School of Business”
United Way and 24G Team Up on Digital Simulation to Teach Empathy
We’ve heard a lot, especially since the presidential election in 2016, about how technologies like social media are effectively reducing empathy and harming civil discourse. But what if technology could instead be used to stoke a better appreciation of the daily struggles others are going through? That’s the goal behind 24G’s “The Cost of Living,” … Continue reading “United Way and 24G Team Up on Digital Simulation to Teach Empathy”
AfroTech: Could Detroit Be the Black Tech Capital of the Country?
Take a walk through the downtown core and it’s obvious the Motor City has mounted a comeback. Downtown Detroit is unquestionably benefitting from significant private investment, and witnessing its growth in the past decade has been truly impressive: Tech companies large and small have established offices here, buildings have been carefully renovated, the landscaping has … Continue reading “AfroTech: Could Detroit Be the Black Tech Capital of the Country?”
Techstars and Heritage Group Launch Indianapolis Accelerator Program
Techstars, which works to advance early stage startups through 45 accelerator programs across the world, today announced its newest accelerator focused on construction and infrastructure materials. The accelerator, located in Indianapolis, is being run in partnership with the Heritage Group, an Indiana company specializing in environmental remediation, specialty chemicals, construction materials, and fuel products. “It’s … Continue reading “Techstars and Heritage Group Launch Indianapolis Accelerator Program”
State DOT Director Replaces CEO of American Center for Mobility
The American Center for Mobility, the Ypsilanti Township, MI-based public-private entity developing and testing advanced automotive technologies, announced this week that it has parted ways with John Maddox, its president and CEO. Taking the helm on an interim basis is Kirk Steudle, the long-serving director of Michigan’s Department of Transportation. ACM did not give a … Continue reading “State DOT Director Replaces CEO of American Center for Mobility “
From Robots to Golf, Indy Group Gets Creative to Boost Women in Tech
The tech industry’s efforts to recruit more girls and women to the field are still falling short, despite the priority being placed on STEM (science, technology, engineering, and math) education in K-12 schools. That’s the conclusion reached in a study released earlier this year by Microsoft and KRC Research. And that is exactly why Indy … Continue reading “From Robots to Golf, Indy Group Gets Creative to Boost Women in Tech”
Fifth Eye Scores $2.3M for Software to Detect Patient Warning Signs
[Update, 2:02 p.m., see below.] Jen Baird, a serial entrepreneur who has led several Michigan-based healthcare technology startups, is back at it with Fifth Eye, an Ann Arbor, MI-based company developing software that performs analytics on patient data. Investors so far like what they see in the young venture: Fifth Eye has just raised $2.3 million … Continue reading “Fifth Eye Scores $2.3M for Software to Detect Patient Warning Signs”
ACM Report: AVs May be Less Disruptive to Trucking Jobs Than Expected
The advent of autonomous vehicles is expected to drastically change the transportation industry and affect those who work in it, but perhaps not as significantly as once thought, according to a new report commissioned by the American Center for Mobility. The study, which looked at potential impacts over the next decade, was funded by Waymo, … Continue reading “ACM Report: AVs May be Less Disruptive to Trucking Jobs Than Expected”
Sigstr Launches Relationship Intelligence Platform for Corporate E-mail
Sigstr, the Indianapolis-based startup focused on surfacing the marketing potential of corporate e-mail, today announced its new relationship marketing platform called Sigstr Pulse. The platform uses artificial intelligence and algorithms to map and track the various, intersecting professional networks belonging to corporate employees to find out who has the best relationships with their customers. Sigstr … Continue reading “Sigstr Launches Relationship Intelligence Platform for Corporate E-mail”
Startup Jesus: Notre Dame Launched a Record 27 New Companies in 2017
[Update, 8/3/18, 8:29 a.m., see below.] Between July 2017 and July 2018, the University of Notre Dame launched 27 student and faculty startups, which is an accomplishment on its own. But when you consider that before 2017, the school had previously launched a total of 33 startups over the course of its entire 175-year history, … Continue reading “Startup Jesus: Notre Dame Launched a Record 27 New Companies in 2017”
As Work Evolves, Kelly Services Funds Startups to Tap New Ideas
Many so-called legacy companies are hungry for new sources of innovation as technological advances transform their industries. One way corporations are drawing new ideas into the fold is through the establishment of venture investing arms. Troy, MI-based Kelly Services, which was founded in 1946, has contributed to the growth of the temporary worker industry over … Continue reading “As Work Evolves, Kelly Services Funds Startups to Tap New Ideas”
Ford’s AV Update, GM’s Peer-to-Peer Ridesharing, & More Auto News
The “Big Three” Detroit-area automakers have all been making headlines this week. Ford shared more details on its autonomous vehicle division, GM announced a peer-to-peer ridesharing program, and the automotive world lost a key figure who’s been credited with saving Chrysler after the Great Recession. Read on for more details. —Sergio Marchionne, former CEO of … Continue reading “Ford’s AV Update, GM’s Peer-to-Peer Ridesharing, & More Auto News”
Kenzie Academy Snags $4.2M, Expands Tech Training in Middle America
As the cost of a college education creeps higher and the student debt crisis grows more pressing, there are lots of people brainstorming and developing educational programs that offer an alternative to college. This is especially true in the tech sector, where numerous code schools and bootcamps have popped up in an effort to teach … Continue reading “Kenzie Academy Snags $4.2M, Expands Tech Training in Middle America”
Hyundai Launches Digital Showroom on Amazon to Better Reach Customers
Replicating the car dealership experience online has historically been a challenge. Although many of us have grown to prefer the ease and convenience of shopping online, there’s nothing quite like kicking the tires of a vehicle in person. Because cars are one of the most expensive purchases many of us will make, it’s especially important … Continue reading “Hyundai Launches Digital Showroom on Amazon to Better Reach Customers”
Global Firm Opens Detroit Fintech Co-Working Hub to Foster Growth
What do Singapore, Bahrain, and Detroit have in common? If you answered “they’re all home to financial technology hubs,” you win a prize. Singapore is a well-known global finance capital, while Bahrain has spent the past four decades positioning itself as one of the Middle East’s bastions of commerce and entrepreneurship. Detroit is perhaps the … Continue reading “Global Firm Opens Detroit Fintech Co-Working Hub to Foster Growth”
Roundup: Accelerate Michigan, U-M, Tetra Discovery Partners & More
The grind never stops in Michigan’s innovation community, even when the weather is perfect for playing hooky. Here’s a look at recent tech news from around the state: —The Accelerate Michigan Innovation Competition, the state’s largest startup pitch contest with up to $1 million in cash and prizes at stake, is now accepting applications for … Continue reading “Roundup: Accelerate Michigan, U-M, Tetra Discovery Partners & More”
City of Detroit Tests Real-World Mobility with Innovation Initiative
Michigan’s government and business leaders have worked diligently over the past few years to position the state that put the world on wheels to be major player in the development of self-driving cars. (According to a June 25 opinion piece in Forbes, Michigan has become “the Silicon Valley of mobility.”) The city of Detroit is … Continue reading “City of Detroit Tests Real-World Mobility with Innovation Initiative”
High Alpha Raises $100M+ for Two New Funds, Adds Brad Feld to Board
High Alpha, an Indianapolis venture capital fund and startup “studio,” announced today that it has raised more than $100 million for two new funds called High Alpha Capital II and High Alpha Studio II. High Alpha Capital backs companies the way traditional venture firms do, while High Alpha Studio takes it a few steps further … Continue reading “High Alpha Raises $100M+ for Two New Funds, Adds Brad Feld to Board”