Big Food is getting serious about innovation. Many top food companies are increasingly pumping money into supporting young, innovative startups, according to a recent analysis by CB Insights. The firms include stalwarts like Kraft Heinz (NASDAQ: [[ticker:KHC]]), which has an incubator and accelerator program called Springboard, and relative newcomers like the Greek-style yogurt maker Chobani, … Continue reading “Hungry for Innovation, Big Food Firms Seek Alliances With Startups”
Category: Boulder/Denver
Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing
The fallout from Uber’s autonomous car fatality continues today, with a number of new developments. We’re recapping them very quickly here, and adding two reaction quotes we received from Carrie Morton, deputy director of the University of Michigan’s Mcity research facility and test bed, and Shahin Farshchi, a partner at Lux Capital, a Silicon Valley … Continue reading “Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing”
AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms
Mythic, which last year unveiled its novel computer chip designed for artificial intelligence, announced today that it has raised $40 million in a Series B fundraising round led by the venture capital arm of Japanese telecom and tech giant SoftBank. Mythic, based in both Redwood City, CA, and Austin, TX, is one of the upstart … Continue reading “AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms”
Uber Suspends Driverless Testing After Fatal Accident in Arizona
The inevitable has happened. An autonomous Uber car hit a pedestrian in Tempe, AZ, and caused her death. The ride-hailing giant has suspended testing on driverless cars in Arizona, Pittsburgh, San Francisco, and Toronto, according to the New York Times. This is the first known death of a pedestrian caused by a self-driving car on … Continue reading “Uber Suspends Driverless Testing After Fatal Accident in Arizona”
Five Unlikely Competitors in the Race for Driverless Cars: Slideshow
Now that we know autonomous vehicles are going to be a real thing, we are watching an entirely new industry unfold. Because of the sweeping societal changes that self-driving cars are likely to bring—they’ll change transportation the most, but also could affect the way we care for the elderly, live in our homes, deliver goods … Continue reading “Five Unlikely Competitors in the Race for Driverless Cars: Slideshow”
Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More
Drug prices are top of mind for many patients. Some of them have to cut back on basic needs just to pay for treatments that seem to rise in price each year. That made a recent announcement by Regeneron Pharmaceuticals particularly unusual. The Tarrytown, NY, drugmaker plans to cut the price of its cholesterol-lowering drug … Continue reading “Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More”
Harnessing the Power of Artificial Intelligence
Voice recognition lets people benefit from artificial intelligence (AI) almost without a second thought – and this technology is increasingly popular. Amazon had record sales of its Alexa device last year, with millions sold over the holiday season. Google reports that since last October, it has sold at least one Google Home smart speaker every … Continue reading “Harnessing the Power of Artificial Intelligence”
Inclusion Gets Real: A New Level of Diversity Discourse at SXSW
Austin—There’s no question that humans have plenty of biases that carry on from generation to generation, from sexism to racism to homophobia. Those problems have carried over to machines, too—bias in the data fed to computer algorithms is an issue that comes up often. Former Stanford computer science professor Daphne Koller recalled an anecdote she … Continue reading “Inclusion Gets Real: A New Level of Diversity Discourse at SXSW”
Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!
Year after year, Xconomy has gathered exemplary business leaders, investors, and far-seeing technologists to our most prestigious event—The Napa Summit. This year is no different. Come join us in the heart of wine country on June 14 and 15 to listen to visionary speakers and connect with fellow innovators. The Napa Summit is by invitation-only, … Continue reading “Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!”
Walmart Expands Same-Day Delivery, Looks to Match Amazon
At the National Retail Federation’s annual conference in January, Walmart CEO Doug McMillon called the Arkansas-based, big-box retailer a technology company. On Wednesday, Walmart (NYSE: [[ticker:WMT]]) moved to make that assertion more of a reality: upping the number of cities where it provides same-day delivery to 100 cities from six—serving about 40 percent of American households … Continue reading “Walmart Expands Same-Day Delivery, Looks to Match Amazon”
No Self-Editing: Biohacker Josiah Zayner Can’t Stop Living Out Loud
Gene editing has arrived. Of the various forms of the technology, CRISPR-Cas9 is the easiest to use, and it’s already showing up in summer camps and school science labs near you. That would be middle schools. When everyone can edit an organism’s genes, how will the world change? Should we be worried? National security officials … Continue reading “No Self-Editing: Biohacker Josiah Zayner Can’t Stop Living Out Loud”
Too Many Venture Capital Cooks in the Kitchen?
At Correlation Ventures, we spend a fair amount of time using our proprietary database to identify the telltale signs of successful startups. One question we asked recently is whether there are diminishing returns for adding VCs to the board of directors at venture-backed startups. Many of us have seen highly effective boards where experienced and … Continue reading “Too Many Venture Capital Cooks in the Kitchen?”
The Minority Venture Capital Opportunity
This year marks the 30th Anniversary of the historic billion-dollar leveraged buyout of Beatrice Foods, put together by African-American business pioneer Reginald Lewis. As recently profiled in the PBS Documentary “Reginald Lewis and the Making of a Billion Dollar Empire,” Lewis was a business icon who paved the way for minority investors to ascend to … Continue reading “The Minority Venture Capital Opportunity”
Indianapolis Startup Octiv Acquired by Conga, Expects Growth in ‘18
Indianapolis-based productivity software startup TinderBox launched in 2010 before becoming Octiv in 2016. Now, Octiv has been acquired by Conga, a Colorado company specializing in document automation. The financial terms of the deal were not disclosed. David Kerr, Octiv’s CEO, says Conga has been around for about 10 years. It started out making software that … Continue reading “Indianapolis Startup Octiv Acquired by Conga, Expects Growth in ‘18”
Despite Pharma Ties, Some Patient Groups Protest High Drug Prices
For 20 years, Deborah Long (pictured) has been relying on powerful drugs to keep her multiple sclerosis in check. Her out-of-pocket costs were pretty reasonable until two years ago, she says, when she had to switch insurance companies. Her new insurer made her switch to a different drug, Copaxone. When she tried to fill the … Continue reading “Despite Pharma Ties, Some Patient Groups Protest High Drug Prices”
Regeneron to Slash Price of Cholesterol Drug After Showing It Saved Lives
Regeneron Pharmaceuticals and partner Sanofi report new data this morning from a large, highly-anticipated trial suggesting that their drug alirocumab (Praluent) may reduce the risk of death for people with high cholesterol who have recently suffered heart attacks or strokes and are at risk of having another one or dying. And in an unusual move, Regeneron—based … Continue reading “Regeneron to Slash Price of Cholesterol Drug After Showing It Saved Lives”
Price Check on Aisle 3: Grocers Use A.I., Devices to Battle Amazon
[Updated 3/13/18 1:07 pm. See below.] If a shopper interacts with technology in a typical grocery store, it’s usually at the very end—as they are paying for their items. That could be about to change, though. “Scanning loyalty cards at checkout is a lost opportunity,” says Eliahu Sussman, marketing manager at Aila Technologies, a Boston-area maker … Continue reading “Price Check on Aisle 3: Grocers Use A.I., Devices to Battle Amazon”
Bio Roundup: Trump Health, Cholesterol Wars, 23andMe OK & More
Trump administration health officials were out on the stump this week, talking tough about drug prices and healthcare value, encouraging the private sector to take the lead but letting everyone know the federal government is willing to push. In the debate over high drug prices, arguably no class of drug has been punished more by … Continue reading “Bio Roundup: Trump Health, Cholesterol Wars, 23andMe OK & More”
Cyteir Bags $29M to Tap “Self Destruct” in Cancers, Immune Diseases
The rapid growth of cancer cells actually damages them, leading them to rely on internal repair mechanisms. Scientists are finding ways to disrupt these repair features to fight the disease, and their research is leading to a growing crop of startups. Among them: Cambridge, MA-based Cyteir Therapeutics, which has just raised $29 million from Venrock, … Continue reading “Cyteir Bags $29M to Tap “Self Destruct” in Cancers, Immune Diseases”
Walmart Unveils “Intelligent Food” System to Keep Produce Fresh
Food spoilage can cost big retailers like Walmart billions in losses. Now, the Arkansas-based giant says it has filed two patents on technology that can digitize the current inspection process for perishable goods. Called Eden, the initiative is in its early stages, but the idea is to use artificial intelligence and cameras to create a … Continue reading “Walmart Unveils “Intelligent Food” System to Keep Produce Fresh”
Mirror, Mirror On the Wall: How Does This Dress Look in Green?
These days, it’s not just Snow White’s stepmother who has a mirror that talks back. Thanks to augmented reality, Internet of Things, and data analytics technologies, more of us might be confronted with so-called “smart mirrors” the next time we try on clothes or accessories in a store. While mirrors are typically static pieces of … Continue reading “Mirror, Mirror On the Wall: How Does This Dress Look in Green?”
Bio Roundup: Funding Frenzy, Opioid Summit, Celgene Woes & More
Biotech startups rolled in cash this week. By our count, investors put more than $800 million into life-sciences startups in four days. The money came from a wide range of backers, not just traditional biotech venture firms. It’s early yet in 2018, but the current count could put life-sciences companies on pace to bust past … Continue reading “Bio Roundup: Funding Frenzy, Opioid Summit, Celgene Woes & More”
Securing the Door: Amazon Buys Connected Doorbell Maker Ring
Amazon (NASDAQ: [[ticker:AMZN]]) has acquired smart-doorbell security system maker Ring as the company seeks to expand its home-security business. The purchase was first reported by Geekwire, which cited a separate report from Reuters that the deal is valued at about $1 billion. That would make Amazon’s purchase of Ring the third largest in the Seattle e-commerce … Continue reading “Securing the Door: Amazon Buys Connected Doorbell Maker Ring”
Credtech Report Card: HackerRank, CodeFights, Credly, ACT, More
Educational technology companies are augmenting the traditional educational system with their online coursework offerings, but they’re also creating a competing universe where students can find alternate learning experiences that may qualify them for a job, even if they don’t have an academic degree. A core element in this universe is the invention of new kinds … Continue reading “Credtech Report Card: HackerRank, CodeFights, Credly, ACT, More”
Bio Roundup: Meldonium Slip, Kratom Crackdown, Zinc Fingers & More
The 2018 Winter Olympics will end soon, and we did not skate through these games without a performance-enhancing drug allegation rearing its ugly head. This time, the drug in question was meldonium (Mildronate), a product widely available over the counter in Russia and some Eastern European countries. Though Latvian pharmaceutical company Grindeks markets meldonium for … Continue reading “Bio Roundup: Meldonium Slip, Kratom Crackdown, Zinc Fingers & More”
Smart Cities Initiative Spurs “Gigabit Apps” for Next-Gen Internet
In late 2015, the National Science Foundation awarded a $6 million grant to the non-profit organization U.S. Ignite to help drive the development of next-generation “gigabit applications,” as part of a broader effort to create “smart gigabit communities” throughout the U.S. The idea was to both help cities improve local services and spur the development … Continue reading “Smart Cities Initiative Spurs “Gigabit Apps” for Next-Gen Internet”
Forget Perfume Counters: Phlur’s A.I. Is E-Commerce’s Scent Sherpa
Austin—It stands to reason that if any industry could resist the tidal wave of e-commerce, it would be the fragrance business. After all, how can you smell a perfume or cologne online to decide if you like the scent? But Eric Korman, founder and CEO of Phlur, says the startup can make it easier for … Continue reading “Forget Perfume Counters: Phlur’s A.I. Is E-Commerce’s Scent Sherpa”
XRC Labs Chief Anthos: Retailers Must Adopt “Test and Learn” Culture
As college undergraduates, my roommate and I had what we called a “monowardrobe.” That’s how we described the contents of the closet that lined a wall in our dorm room. We each organized our own clothing on either side, but since we both wore the same size in clothing and shoes, we “shopped” for outfits … Continue reading “XRC Labs Chief Anthos: Retailers Must Adopt “Test and Learn” Culture”
Father-Daughter Startup Seeva Turns Old IP into New Driverless Tech
[Correction, 2/23/18: See below.] The mobility sector has spawned plenty of unlikely alliances that have led to new products and business models for self-driving vehicles. But it’s hard to get more unlikely than Seeva, a Pacific Northwest mobility startup with Detroit roots, run by a vivacious daughter and her retired father, and based on technology … Continue reading “Father-Daughter Startup Seeva Turns Old IP into New Driverless Tech”
Bio Roundup: Trump’s Budget, Biogen’s AD Reveal, Hugin’s Run & More
Another week of White House chaos and American gun violence. Amid it all, we tried to parse what the Trump administration’s 2019 budget proposal meant for the biomedical and life-science worlds. There was talk of tackling high drug prices in the budget document, but nothing to give Medicare direct negotiating power with drug companies or … Continue reading “Bio Roundup: Trump’s Budget, Biogen’s AD Reveal, Hugin’s Run & More”
Europe’s New Data Privacy Rules Nourish U.S. Privacy Tech Sector
Take a look at this blurb for a session about data privacy at the upcoming RSA conference on cybersecurity. It sounds a polite warning: “The importance of privacy is often alluded to in generalized, value-laden terms that, while sincere, don’t necessarily help privacy be taken seriously in the enterprise risk management process.” That situation is … Continue reading “Europe’s New Data Privacy Rules Nourish U.S. Privacy Tech Sector”
Shipping Wars: Walmart Launches Free Delivery for Sam’s Club Members
In order to better position itself against competitors like Costco Wholesale (NASDAQ: [[ticker:COST]]) and Amazon (NASDAQ: [[ticker:AMZN]]), Sam’s Club, the bulk retailer owned by Walmart (NYSE: [[ticker:WMT]]), is now offering free shipping for many items as part of a revamping of its membership programs. With a $100 annual fee—just one dollar more than the cost … Continue reading “Shipping Wars: Walmart Launches Free Delivery for Sam’s Club Members”
Startups Peddle Innovative Tools to Fight Tech’s #MeToo Problem
As the last year has shown, the tech industry has a significant problem with sexual harassment and ensuring that women are treated equitably in the workplace. Now, some founders are seeking to use tech tools such as chatbots, artificial intelligence, analytics, and mobile to help clients remedy those deficiencies. One of those founders is Heather … Continue reading “Startups Peddle Innovative Tools to Fight Tech’s #MeToo Problem”
FDA’s Rachel Sherman on Right to Try, Succession Trouble & More
The opioid crisis. Right to Try legislation. The first human trials of CRISPR-Cas9 gene editing technology. These are just a few of the many topics at the feet of the FDA this year. Speaking at the BIO CEO & Investor Conference in New York on Tuesday, principal deputy commissioner Rachel Sherman, the FDA’s second in … Continue reading “FDA’s Rachel Sherman on Right to Try, Succession Trouble & More”
Trump Budget Touts Lower Drug Prices, But No Medicare Negotiation
As president-elect, Donald Trump in January 2017 slammed drug companies for “getting away with murder” and said he supported Medicare negotiation. He vowed during last month’s State of the Union speech that drug prices “will come down.” Today, his administration’s fiscal 2019 budget proposal laid out what it calls a “comprehensive” strategy to lower drug … Continue reading “Trump Budget Touts Lower Drug Prices, But No Medicare Negotiation”
Buying Shoes? Digital Stylists Use A.I. to Suggest Clothing to Match
The black skirt had multiple personas. The fact that it was made of leather gave it an edgy vibe, but its A-line fit-and-flair cut was more flirty and feminine. “I fell in love with it,” says Michelle Bacharach, co-founder of FindMine. “But as soon as I brought it home, I wondered, ‘how do I wear … Continue reading “Buying Shoes? Digital Stylists Use A.I. to Suggest Clothing to Match”
Execs Talk Hurdles As Immunotherapy Combos, CAR-T Launches Progress
With multiple products on the market and many more coming, it’s easy to think that cancer immunotherapy has arrived. In reality, however, we’ve only just begun to figure out how to coax the immune system into killing cancer. That’s why a mad dash is on to expand its reach, and a panel of experts invested … Continue reading “Execs Talk Hurdles As Immunotherapy Combos, CAR-T Launches Progress”
As Trump Budget Addresses Opioid Crisis, BIO Report Reveals Scarce Pain Drug Development
[Updated 2/12/2018, 1:37pm ET, see below.] With the opioid epidemic showing little sign of letting up, new ways of treating chronic pain are desperately needed. But the development of non-addictive, non-opioid pain drugs lags far behind drug R&D for other diseases (I wrote a few months ago about why that is), and a report from … Continue reading “As Trump Budget Addresses Opioid Crisis, BIO Report Reveals Scarce Pain Drug Development”
Bio Roundup: Lung Cancer Questions, Migraine Races, HIV Battle & More
The top biopharma story of the week involves the fast-moving field of lung cancer, which, as we’ve written previously, has several key trials reading out in 2018. A big domino fell this week: data from a two-drug immunotherapy combination developed by Bristol-Myers Squibb. But the results, touted as positive, left more questions than answers. First, … Continue reading “Bio Roundup: Lung Cancer Questions, Migraine Races, HIV Battle & More”
Instant Gratification: Whole Foods, Target Offer Same-Day Delivery
[Updated 2/8/18, 1:39 pm.] The race is on to sign up consumers seeking same-day delivery of groceries, household items, and personal goods. Late on Wednesday, Amazon (NASDAQ: [[ticker:AMZN]]) announced it has started free two-hour delivery of products from Whole Foods Market, the most significant example of the e-commerce giant using technology at the Austin, TX-based … Continue reading “Instant Gratification: Whole Foods, Target Offer Same-Day Delivery”
Rep. Jared Polis Asks Congress to Disclose Cryptocurrency Holdings
Members of Congress are required to disclose many details about their personal finances. Jared Polis, a Democratic U.S. Representative from Colorado—and a successful Internet entrepreneur—contends that elected representatives and certain staffers should also be required to disclose cryptocurrencies like Bitcoin and Ethereum, even though that’s not necessarily happening now. Polis wants it to become a … Continue reading “Rep. Jared Polis Asks Congress to Disclose Cryptocurrency Holdings”
Medical and Patient Groups Warn Congress Against “Right to Try”
Dozens of medical organizations and patient advocacy groups are pushing back against so-called “right-to-try” legislation that passed the Senate in August and is now under consideration in the House. An open letter sent today to House leaders is the latest opposition to the Republican-led push to give desperate patients access to experimental drugs without FDA … Continue reading “Medical and Patient Groups Warn Congress Against “Right to Try””
Walmart Brings Virtual Reality to Retail With Purchase of Spatialand
Walmart’s tech incubator in Silicon Valley, Store No 8, has acquired Spatialand, a virtual reality software firm, as its third portfolio company. While much of the focus in using VR has been on gaming and entertainment, “virtual reality has the potential to reinvent the consumer experience—with an experience we call contextual commerce,” according to a … Continue reading “Walmart Brings Virtual Reality to Retail With Purchase of Spatialand”
Pay It Forward: Capital Drives Bio Innovation in San Diego & Beyond
After starting Organovo in 2007, I spent much of the next decade as CEO seeking financing to advance our bioprinting technology. Because I stepped out of an operational role early last year, I am now in a position of providing financing to aspiring life sciences entrepreneurs. The change has caused me to reflect a bit … Continue reading “Pay It Forward: Capital Drives Bio Innovation in San Diego & Beyond”
E-Commerce Firm Dearduck Uses A.I. in the Hunt for the Perfect Gift
Houston—Knowledge is power, but too much of a good thing can render data meaningless. That’s the struggle many retailers have in an age of data analytics. Think about the retailer e-mails we receive daily or the ads that appear on Google or our social media sites. Though based on our Web searches, those ads don’t … Continue reading “E-Commerce Firm Dearduck Uses A.I. in the Hunt for the Perfect Gift”
Entrepreneurs Look to Angels and Micro-VCs for Cash
You don’t need me to tell you it’s a rough world out there for startups. Venture capitalists have been unusually stingy lately, hanging on to billions of dollars they’d typically be channeling into promising young companies. When those investors do open their wallets, they’re shunning risky investments in favor of what the Wall Street Journal … Continue reading “Entrepreneurs Look to Angels and Micro-VCs for Cash”
Surefire Medical Appoints Szela CEO, Chomas Shifts to CTO
Mary Szela has been named CEO and president of Denver-based Surefire Medical. Szela’s chief executive experience includes posts at Melinta Therapeutics (NASDAQ: [[ticker:MLNT]]) and later, Novelion Therapeutics (NASDAQ: [[ticker:NVLN]]). At Surefire, she succeeds James Chomas, the company’s founder and its chief executive since 2009. Chomas will move to a different role as chief technology and … Continue reading “Surefire Medical Appoints Szela CEO, Chomas Shifts to CTO”
Bio Roundup: Wilson’s Warning, Amazon’s Health Biz, Moderna Cash & More
The State of the Union address was…. long. At one hour and 20 minutes, President Trump fell about 9 minutes shy of the high mark. But those who stayed tuned in heard comments about several health policy matters. The president credited the FDA for a record number of generic drug approvals in 2017, which PwC … Continue reading “Bio Roundup: Wilson’s Warning, Amazon’s Health Biz, Moderna Cash & More”
Xconomy Bookclub: “Inferior” Peruses Science’s Historic #MeToo Bias
In his now infamous memo, ex-Google engineer James Damore cited scientific evidence to illustrate why women may not be suited for jobs at some of today’s leading tech companies. Women, he argued, are biologically more attuned to “people” jobs rather than “thing” jobs, like those in technology. But what Damore was doing, others pointed out, … Continue reading “Xconomy Bookclub: “Inferior” Peruses Science’s Historic #MeToo Bias”
Gaming, Staffing, and Diversity: Techstars Picks 2018 Class for Seattle
Diversity has been a thorny problem for the tech industry—specifically its lack of minority and women-led businesses. Techstars has made a point of the issue, and promised over the last few years to try to make diversity a priority as it selects companies for its various accelerator programs. Seattle’s Techstars program announced some progress this … Continue reading “Gaming, Staffing, and Diversity: Techstars Picks 2018 Class for Seattle”