The MIT 100K Entrepreneurship Competition has grown into one of the nation’s premier student-oriented business plan contests. This evening event consists of the Executive Summary Contest Finale and the Business Plan Contest Kick-off. There are a slew of 100K tracks, each with its own cash winners, who then compete for the grand prize. Tracks include: … Continue reading “MIT 100K Entrepreneurship Competition”
Category: Boston
Anomopoly, Dirty Truckers Snatch Top Prizes in Band Battle; Thanks to All Our Sponsors
One of the big reasons we launched Xconomy in 2007 was to remind the incredibly talented, enthusiastic people who make up Boston’s innovation community that what they do is not just important and (hopefully) profitable, but fun. And from watching so many tech-biz folks happily getting down and chatting each other up at last night’s … Continue reading “Anomopoly, Dirty Truckers Snatch Top Prizes in Band Battle; Thanks to All Our Sponsors”
Omni and Enztec Join, Raise $4.8M
Medical device makers Omni Life Science of Raynham, MA, and Enztec of Christchurch, New Zealand, announced that they have reorganized to become wholly owed subsidiaries of a new holding company called Orthopaedic Synergy, based in Raynham. The new firm also raised $4.8 million of a Series A financing from Pioneer Capital Partners of Auckland, New … Continue reading “Omni and Enztec Join, Raise $4.8M”
CloudSwitch Floating on $7.4M Funding Round
Stealth cloud computing company CloudSwitch has taken in $7.4 million in Series A funding co-led by Atlas Venture and Matrix Partners. The news was first reported by Scott Kirsner on his blog, and confirmed by Atlas partner Axel Bichara. Little information is available about Waltham, MA-based CloudSwitch, whose placeholder website merely says it is in … Continue reading “CloudSwitch Floating on $7.4M Funding Round”
Biogen Idec Rival Succeeds in Trial of Oral Pill for Multiple Sclerosis
One of Biogen Idec’s competitors in the world of multiple sclerosis drugs reported some success today. Germany’s Merck KGaA says its experimental oral pill reached its goal of reducing the rate of MS flare-ups for patients in a two-year study. Merck KGaA said patients on a low dose of its drug, cladribine, had a 58 percent … Continue reading “Biogen Idec Rival Succeeds in Trial of Oral Pill for Multiple Sclerosis”
Stromedix Wins Patent For Lead Drug
Stromedix, a Cambridge, MA-based biotech company, said it has received a U.S. patent that protects its lead drug for fibrosis, STX-100. The patent, U.S. 7,465,449, covers high-affinity monoclonal antibodies and antigen-binding fragments that block a target on cells that is an important regulator of fibrosis and tissue injury. Rebecca described this technology that Stromedix acquired … Continue reading “Stromedix Wins Patent For Lead Drug”
EMC, MIT Led Bay State Patent Winners in 2008—Here’s the Top 25 List
The sum of a company’s patent awards is not by a longshot a perfect barometer for an organization’s ability to innovate, but it can be one important measure of its investment in itself and its intellectual property—and its future competitiveness. In that regard, IT infrastructure company EMC (NYSE:[[ticker:EMC]]) seems like it’s doing all right. The … Continue reading “EMC, MIT Led Bay State Patent Winners in 2008—Here’s the Top 25 List”
E-Book Readers on the iPhone? They’re Not Quite Kindle Slayers Yet
Well, this is the first time I’ve written my weekly column while wearing a tuxedo. No, I’m not on my way home from an inauguration ball, or campaigning for higher style standards among reporters. As I write this, I’m getting ready to emcee Xconomy’s Battle of the Tech Bands 2. Our preparations for the event … Continue reading “E-Book Readers on the iPhone? They’re Not Quite Kindle Slayers Yet”
J&J Teams With Enlight, eIQnetworks Secures $10M, Riverbed Makes Off With Mazu for $25M, & More Boston-Area Deals News
Many of New England’s IT firms were heard from this past week. Those, and the rest of the week’s tech and life sciences deals, below. —The Scuderi Group of West Springfield, MA, raised $20 million in private funding from undisclosed investors. The firm is developing a fuel-efficient internal combustion engine. —The year-end data on U.S. … Continue reading “J&J Teams With Enlight, eIQnetworks Secures $10M, Riverbed Makes Off With Mazu for $25M, & More Boston-Area Deals News”
CloudSwitch Receives $7,400,000 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d0cdd4d5-c61e-4445-96e8-0e6b965a3750&Preview=1 Date 1/23/2009 Company Name CloudSwitch Mailing Address 1159 Commonwealth Avenue West Newton, MA 02465 Company Description CloudSwitch is a computing startup. Website Undisclosed Transaction Type Venture Equity Transaction Amount $7,400,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Atlas Venture Venture Investor Matrix Partners
Orthopaedic Synergy Inc Secures $4,800,000 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=851e9051-3993-4b7c-ac2f-a6eb2d9c6ff2&Preview=1 Date 1/23/2009 Company Name Orthopaedic Synergy Inc Mailing Address Undisclosed Raynham, MA 02767 Company Description Orthopaedic Synergy Inc is a provider of products for the orthopaedic device market. Website Undisclosed Transaction Type Venture Equity Transaction Amount $4,800,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture … Continue reading “Orthopaedic Synergy Inc Secures $4,800,000 Series A Financing Round”
Xactly Corporation Acquires Centive for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=38e56a1d-4701-441a-9828-b661408f603f&Preview=1 Date 1/23/2009 Company Name Centive Mailing Address 900 Chelmsford Street, Cross Point – Tower 3, 7th Floor Lowell, MA 01851 Company Description Centive is a leading provider of business solutions that help companies drive performance and revenue. Centive’s Enterprise Incentive Management (EIM) and Sales Compensation Management solutions empower companies to motivate … Continue reading “Xactly Corporation Acquires Centive for Undisclosed Sum”
See You At The Show!
Folks in Xconomy’s Boston office are gathering our business cards and dancing shoes for tonight’s second annual Battle of the Tech Bands. Tickets are dwindling fast, but you can still get yours before 4:00 pm online here, or at the door at the Middle East Restaurant & Nightclub. Doors open at 7:00 pm—hope to see … Continue reading “See You At The Show!”
Paul Graham and Y Combinator to Leave Cambridge, Stay in Silicon Valley Year Round
Viaweb founder Paul Graham and his legendary startup incubator Y Combinator, which is arguably the most vibrant, innovative technology startup school in the country, are no longer going to be part of the summer scene in the Boston area. In a message posted on the Y Combinator website (I think last night sometime), Graham has … Continue reading “Paul Graham and Y Combinator to Leave Cambridge, Stay in Silicon Valley Year Round”
Largest Layoff in Microsoft History Raises Questions
Here are a few thoughts after listening to the Microsoft earnings conference call. The software giant announced 1,400 layoffs today, with up to 5,000 positions being eliminated over the next 18 months, mostly at its Redmond, WA headquarters. (The company’s New England operations will not be directly affected, according to a Microsoft spokesperson we contacted; … Continue reading “Largest Layoff in Microsoft History Raises Questions”
Web Innovators Group 21
The 21st iteration in this increasingly popular and well-attended series hosted by Venrock’s David Beisel, featuring presentations by pre-venture-funded startups. Main dish and side dish presentations to be announced. Free registration here.
Ember’s Wireless Chips Power Smart-Energy Efforts
If you’re a glass-half-empty person, you might say the mesh networking technology pioneered by Boston’s Ember Corporation is a solution in search of a problem. If you’re a glass-half-full person, you’d probably call the company’s eight-year history a case study in flexible thinking. Regardless, after years of market struggles, Ember seems to have found a … Continue reading “Ember’s Wireless Chips Power Smart-Energy Efforts”
Enlight Biosciences and Industry Giant Johnson & Johnson Forge Partnership
Enlight Biosciences, a Boston-based biotech firm advancing new technologies used in the discovery and development of drugs, said today it has gained a commitment from Johnson & Johnson to invest up to $13 million in its programs. Johnson & Johnson, the New Brunswick, NJ-based healthcare giant (NYSE:[[ticker:JNJ]]), is the latest drugmaker to form a partnership … Continue reading “Enlight Biosciences and Industry Giant Johnson & Johnson Forge Partnership”
TPI Composites, Inc. Receives $20,000,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ecd80578-460d-40d2-9cd9-c32df4f5862c&Preview=1 Date 1/22/2009 Company Name TPI Composites, Inc. Mailing Address 373 Market Street Warren, RI 02885-0367 Company Description TPI is a leading developer and volume manufacturer of large-scale composite structures for the wind energy, transportation and military vehicle markets. The company’s technology excels where high strength, light weight and durability are needed. … Continue reading “TPI Composites, Inc. Receives $20,000,000 Series B Financing”
Enlight Biosciences Lands New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d94f9210-f933-4244-b465-f112f41da7f7&Preview=1 Date 1/22/2009 Company Name Enlight Biosciences Mailing Address 222 Berkeley Street Boston, MA 02116 Company Description Enlight is a Boston-based company established in partnership with major pharmaceutical companies to develop breakthrough innovations that will fundamentally alter drug discovery and development. Website http://www.enlightbio.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round … Continue reading “Enlight Biosciences Lands New Financing Round”
Extreme Reach Obtains $1,500,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fcc5ebd6-0fb9-4264-b34d-3e8ad714bd47&Preview=1 Date 1/22/2009 Company Name Extreme Reach Mailing Address 75 2nd Avenue Needham, MA 02494 Company Description Our video advertising technology platform enables advertisers and agencies to manage, execute and track video campaigns across all video mediums (broadcast, cable, online publishing, mobile, VOD). Unlike other platforms, Extreme Reach provides a single-source solution … Continue reading “Extreme Reach Obtains $1,500,000 Series A Financing”
Mazu Acquired by Riverbed
Cambridge, MA-based Mazu Networks, which makes software for optimizing the performance of enterprise applications over networks, will become a unit of San Francisco-based Riverbed Technology (NASDAQ: [[ticker:RVBD]]), according to an announcement yesterday. Riverbed, which focuses on wide-area-network optimization, will pay $25 million up front for Mazu plus up to $22 million in performance-based payments over … Continue reading “Mazu Acquired by Riverbed”
Pink Slip Pick Me Up—Get a Free Ticket to Tomorrow’s Battle of the Tech Bands
It’s a small gesture, we know. But if you have been laid off from a job in tech, life sciences, or tech investing we’d like to offer you some spirit-boosting—not to mention a chance to make connections that could lead to new job opportunities—at tomorrow night’s Xconomy Battle of the Tech Bands here in Cambridge. … Continue reading “Pink Slip Pick Me Up—Get a Free Ticket to Tomorrow’s Battle of the Tech Bands”
Data Warehousing Startup Dataupia Expands B Round by $10 Million
Cambridge, MA-based Dataupia, which makes server appliances designed to handle large volumes of business-intelligence queries, said yesterday that it recently closed a “Series B-1” financing round building on its $16 million B round in October 2007. The company didn’t say how much extra money it had raised, but a report today in Private Equity Hub, … Continue reading “Data Warehousing Startup Dataupia Expands B Round by $10 Million”
Panacos Sells HIV Drug for $7M
Watertown, MA-based Panacos Pharmaceuticals (NASDAQ:[[ticker:PANC]]) says it has sold its lead HIV drug candidate, bevirimat, to Myriad Pharmaceuticals of Salt Lake City for $7 million. Panacos, a developer of antiviral drugs, said it would seek financing options late last year when it disclosed that it agreed to early repayment of a $20 million loan to … Continue reading “Panacos Sells HIV Drug for $7M”
ATV Backs Ardian in $30M Financing
Advanced Technology Ventures, which has offices in Waltham, MA, and Palo Alto, CA, has backed medical devices firm Adrian in a $30 million, third round of financing, PE Hub reported, citing a regulatory filing. Ardian, which is developing a device for treating congestive heart failure, also raised money for the round from Morgenthaler Ventures and … Continue reading “ATV Backs Ardian in $30M Financing”
eIQnetworks Secures $10M First Round
Security software firm eIQnetworks says it has raised $10 million in its first round of institutional financing led by venture capital firm Venrock. The Acton, MA-based company’s software provides large companies and organizations speedy remedies to IT security threats, among other features, and the company plans to use the new capital to boost sales and … Continue reading “eIQnetworks Secures $10M First Round”
City of Boston Joins EnerNOC’s Demand Response Network
EnerNOC (NASDAQ: [[ticker:ENOC]]), the Boston-based company that pays factory operators, store owners, and local governments for the right to dial back their electricity usage during times of peak demand, announced today that the City of Boston is finally diving into the local “demand response” pool. Under a new agreement negotiated with the office of Mayor … Continue reading “City of Boston Joins EnerNOC’s Demand Response Network”
Regulus, Leading Developer of MicroRNA Drugs, Prepares to Get Independence from Alnylam and Isis
Regulus Therapeutics has shown it can crawl, now it’s ready to walk. The fledgling Carlsbad, CA-based company is taking steps to raise a large round of private investment capital, and become a more independent company developing a new breed of microRNA-based drugs. Regulus plans to raise “a very respectable amount” of capital from private investors, … Continue reading “Regulus, Leading Developer of MicroRNA Drugs, Prepares to Get Independence from Alnylam and Isis”
India’s Innovation Front Lines, Part 8 (Final Installment): A Return Home and a Reflection
Boston, Tuesday, January 20–I have been back from India for about two weeks and have had time to reflect on my trip and to view my hometown of Boston with a fresh pair of eyes. The front page news in India was about Satyam Computer Services’ $1 billion fraud and India’s impotence in stopping Pakistani-supported … Continue reading “India’s Innovation Front Lines, Part 8 (Final Installment): A Return Home and a Reflection”
Vertex Stays Put, Hydra Handed $22M, Sequenom Still Pursuing Exact Sciences Acquisition, & More Boston-Area Life Sciences News
[Corrected 1/21/09, see the item on Cynosure] The New England biomedical industry was on the quiet side this past week, but there are still a few tidbits to report. —California-based Sequenom (NASDAQ:[[ticker:SQNM]]) said it would press ahead with its effort to acquire Exact Sciences (NASDAQ:[[ticker:EXAS]]) even though the board of the Marlborough, MA-based diagnostics maker … Continue reading “Vertex Stays Put, Hydra Handed $22M, Sequenom Still Pursuing Exact Sciences Acquisition, & More Boston-Area Life Sciences News”
eIQnetworks Garners $10,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e2ae0a45-643d-4b27-876b-0b69520cc720&Preview=1 Date 1/21/2009 Company Name eIQnetworks Mailing Address 31 Nagog Park Acton, MA 01720 Company Description Company Overview Founded in 2001, eIQnetworks, Inc. is an industry-leading provider of integrated security, risk and audit management solutions that effectively meet security and compliance challenges. By combining enterprise security management (ESM) with IT governance, risk … Continue reading “eIQnetworks Garners $10,000,000 New Funding”
Dataupia Corporation Secures Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7942969e-ff11-4872-822c-fcbc605a1be3&Preview=1 Date 1/21/2009 Company Name Dataupia Corporation Mailing Address One Alewife Center Cambridge, MA 02140 Company Description Dataupia addresses the growing gap between the massive volumes of stored data and the portion that a business can use to its benefit. By architecting specialized software and industry-standard hardware into a highly cost-effective and … Continue reading “Dataupia Corporation Secures Series B Funding Round”
Riverbed Technology Acquires Mazu Networks Inc. for $25,000,000
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=58ef87e5-787b-4ecb-8aac-f62b1cb70350&Preview=1 Date 1/21/2009 Company Name Mazu Networks Inc. Mailing Address 125 CambridgePark Drive, 4th Floor Cambridge, MA 02140 Company Description Mazu Networks provides behavior-based network security solutions that analyze network traffic and behavior to operate enterprise networks more securely. Website http://www.mazunetworks.com Transaction Type M&A Transaction Amount $25,000,000 Transaction Round Proceeds Purposes M&A … Continue reading “Riverbed Technology Acquires Mazu Networks Inc. for $25,000,000”
GenArts Acquires SpeedSix
Cambridge, MA-based GenArts, which makes digital-effects software for the TV and movie industries, announced today that it has acquired SpeedSix Software, a 6-person firm in Surrey, England that makes a popular graphics plug-in called Monsters and Raptors. GenArts, whose effects have been seen in productions such as the Lord of the Rings, Spiderman, Star Wars, … Continue reading “GenArts Acquires SpeedSix”
Tabloid: Bose Cuts 1,000 Jobs
Bose, the Framingham, MA-based audio products firm, has cut 1,000 employees due to a decline in consumer spending, the Boston Herald reported this morning. The daily tabloid reports that the cuts equal about 10 percent of the firm’s global workforce and will impact areas of the organization such as manufacturing, yet the privately held company … Continue reading “Tabloid: Bose Cuts 1,000 Jobs”
Obama Inauguration Breaks Streaming-Media Records
This morning, we gave you a guide to online outlets with live streaming video of President Obama’s swearing-in. This afternoon, we can report that record-breaking audiences accessed these streams, at least as far as Cambridge, MA-based networking leader Akamai was able to measure. At the height of Internet traffic at approximately 12:15 p.m. Eastern time … Continue reading “Obama Inauguration Breaks Streaming-Media Records”
Alnylam Loses Patent Dispute in Europe
Cambridge, MA-based Alnylam Pharmaceuticals, a leading developer of drugs using RNA interference technology, said today it lost an oral argument that it should be granted a particular patent in Europe from its Kreutzer-Limmer patent estate. The final decision on the patent, known as ‘945, is still subject to further appeal, Alnylam said in a statement. … Continue reading “Alnylam Loses Patent Dispute in Europe”
Extreme Reach Wants to Extend Advertisers’ Cross-Media Reach
Video ads are showing up in so many places now—on the Web, on mobile devices, as part of on-demand programming, and of course on regular network TV—that managing all those video files, in all their various formats, is getting to be a bit of a nightmare for advertisers and their agencies. Extreme Reach, a new … Continue reading “Extreme Reach Wants to Extend Advertisers’ Cross-Media Reach”
N.E. VC Investment Sinks in 4th Quarter—No Surprise—And Lists of the Region’s Top Deals and Dealmakers
More ugly data on U.S. venture investment circulated over the weekend, so we at Xconomy thought we’d dig in and highlight some of the top deals and dealmakers in the region last quarter. But first the big picture from Dow Jones VentureSource. The nationwide survey of venture deals found that New England had 79 venture … Continue reading “N.E. VC Investment Sinks in 4th Quarter—No Surprise—And Lists of the Region’s Top Deals and Dealmakers”
Stuck at Work? Watch the Inauguration Online
Let’s face it, the country is not going to get much work done today between, oh, 11:14 a.m. (when the Obama family will be seated on the Capitol platform) and 12:36 p.m. (when by-then-former-President Bush’s helicopter lifts off). But if you’re at the office and you can’t catch history being made in Washington on network … Continue reading “Stuck at Work? Watch the Inauguration Online”
Providence Geek Dinner featuring Treanor Brothers Animation
The “Beehive of Industry” (that’s Providence, RI) has geeks too. It’s a little far afield for our typical events listings, but their January dinner features Treanor Brothers Animation, and it should be a good time. They’ll be showing off some of their tools, techniques, and recent projects. Get more detail at the Providence Geeks Blog.
Engine Developer Raises $20M
The Scuderi Group, which is developing a fuel-efficient internal combustion engine, says that it has raised $20 million in private funding. The West Springfield, MA-based firm—which plans to unveil a working prototype of its engine to the auto industry in April—has raised more than $35 million, according to the company. The firm did not disclose … Continue reading “Engine Developer Raises $20M”
Assured Labor Launches Trust-Driven Job Marketplace
If you’re a busy, Web-savvy professional and you need a dog walker, a house cleaner, or someone to plow your driveway, your first thought is probably to search Craigslist. And indeed, there are thousands of people offering such services on the 14-year-old free classifieds site. But the problem with Craigslist, according to David Reich, a … Continue reading “Assured Labor Launches Trust-Driven Job Marketplace”
LaunchCapital Opens To Seed Startups, Describes Unique Investment Approach
LaunchCapital, a provider of seed-stage capital for tech startups, is expected next week to publicly announce its existence for the first time and describe its plans to invest in young companies in the Boston area and beyond. The Cambridge, MA-based firm aims to invest in startups at the earliest organizational stages, at a point when … Continue reading “LaunchCapital Opens To Seed Startups, Describes Unique Investment Approach”
The Scuderi Group Lands $20,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cc01049f-9250-48e2-bf03-7151f46b7479&Preview=1 Date 1/20/2009 Company Name The Scuderi Group Mailing Address 1111 Elm Street West Springfield, MA 01089 Company Description The Scuderi Group is an engine development company of fluid and thermodynamic experts focused on improving the performance of the internal combustion engine. The revolutionary Scuderi Split-Cycle Engine technology is the most significant … Continue reading “The Scuderi Group Lands $20,000,000 New Funding”
Accounting 101 for Entrepreneurs
As many entrepreneurs have learned the hardway, you get through the funding rounds, get your company off the ground, and then realize that you have to scramble to get on top of what can be extremely complex—and, yes, potentially expensive—accounting issues. This working lunch program from The Capital Network promises to help get you up … Continue reading “Accounting 101 for Entrepreneurs”
Don’t Truck Your Waste to a Landfill: Truck A Gasification Plant To Your Waste
For most of the “clean energy” startups Xconomy covers, the big question is whether the company’s prototype—be it a wind turbine, a wood-chips-to-ethanol reactor, or an anaerobic cow-manure digester—will still work efficiently when scaled up to industrial proportions. But for IST Energy in Waltham, MA, the question was how to scale down a waste gasification … Continue reading “Don’t Truck Your Waste to a Landfill: Truck A Gasification Plant To Your Waste”
Taking Monday On
Posting will be light between now and Tuesday as we’ll be observing Monday’s King Day of Service in honor of Dr. Martin Luther King, Jr., who would have turned 80 yesterday. If you’d like to do some volunteering to mark the occasion, or if you’re hosting a service event and need volunteers, President-elect Obama has … Continue reading “Taking Monday On”
$55M for Boston-Power, Sequenom Plows Ahead with Exact Sciences Takeover Attempt, Nuance Announces $175M Stock Sale, & More Boston-Area Deals News
Everything else around here is frozen solid this week (hello, minus two degrees real-feel!), but the tech and life sciences deals are flowing. —Two Massachusetts firms—Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]) of Cambridge and Cubist Pharmaceuticals (NASDAQ: [[ticker:CBST]]) of Lexington—inked a marketing deal focused on Alnylam’s RNAi-based treatment for respiratory syncytial virus, or RSV. Under the terms … Continue reading “$55M for Boston-Power, Sequenom Plows Ahead with Exact Sciences Takeover Attempt, Nuance Announces $175M Stock Sale, & More Boston-Area Deals News”