It took me by complete surprise. Here I was thinking we were on the same page, that we were doing some good things together and, despite some challenges, we made a pretty good team. So, when one of my brightest early talent employees walked into my office to tell me he was leaving, I asked … Continue reading “Silicon Valley Advisory: Make Talent Retention Personal”
Category: Detroit
JCI Simplifies Focus with $13.2B Sale of Car Battery Business
The transformation of Johnson Controls International continues. On Tuesday, the company said it reached a deal to sell its power solutions business, which makes a variety of vehicle batteries, in a cash transaction valued at $13.2 billion. The buyers are investment firm Brookfield Business Partners (NYSE: [[ticker:BBU]]) and a group of partners, including Canadian investment … Continue reading “JCI Simplifies Focus with $13.2B Sale of Car Battery Business”
CEOs and Scientific Founders: Tips for a Long and Successful Marriage
It seemed like the perfect match: A scientist founder from a top-tier academic institution; A technological innovation based on years and millions of dollars of federally-funded research in a university lab; And a successful entrepreneur and industry veteran named as the CEO of the startup that would take the work forward. But soon after the … Continue reading “CEOs and Scientific Founders: Tips for a Long and Successful Marriage”
Universal Robots Hires Former Rethink Robotics Workers After Closure
A little more than a month after Rethink Robotics shut down, a competitor has hired more than 20 of the Boston-based firm’s former employees. Universal Robots, a Denmark-based maker of collaborative industrial robots, announced Tuesday it has brought on key Rethink personnel, primarily in engineering and product development. The hires include former Rethink chief operating … Continue reading “Universal Robots Hires Former Rethink Robotics Workers After Closure”
Celsee Charts Expansion Plans as Single-Cell Analysis Demand Grows
The humble cell has been getting a lot of attention in the medical world lately, and Ann Arbor, MI-based biotech startup Celsee wants to make it easier to study them. As precision medicine and genomic analysis become more sophisticated, clinicians are taking biotech research down to the level of single cells in search of breakthroughs … Continue reading “Celsee Charts Expansion Plans as Single-Cell Analysis Demand Grows”
Bio Roundup: Midterm Fallout, Alzheimer’s Search, Postpartum Panel
There was plenty at stake in this week’s midterm elections, and not just in terms of political wins and losses. With congress now divided—Democrats took back control of the House and Republicans extended their majority in the Senate—the implications are significant for U.S. healthcare. Just a day after the results, for instance, Senate Majority Leader … Continue reading “Bio Roundup: Midterm Fallout, Alzheimer’s Search, Postpartum Panel”
Hold Your Horsepower: For Mobility Industry, “Reality Is Sinking In”
Earlier this month, GM CEO Mary Barra told the crowd at a financial conference that her company was on track to unveil a ridesharing service in 2019 that would be powered by autonomous vehicles. It sounded like pretty big news, but to understand company announcements about the commercial viability of driverless cars, one must first … Continue reading “Hold Your Horsepower: For Mobility Industry, “Reality Is Sinking In””
Esperanto Reaps $58M to Speed Development of Its AI Chip
Esperanto Technologies, a startup AI chip developer that has operated mostly below the radar since its founding in 2014, announced this week that it raised $58 million in a Series B fundraising round. Mountain View, CA-based Esperanto is vying with a host of competitors to create new processors for high-order tasks like machine learning and … Continue reading “Esperanto Reaps $58M to Speed Development of Its AI Chip”
DriverReach Hopes to Move Trucking Industry Forward with Hiring App
Artificial intelligence and automation are helping legacy industries across the country become more innovative and efficient. An Indianapolis startup called DriverReach is doing just that for the trucking industry, where driver shortages have been plaguing logistics operations, says founder and CEO Jeremy Reymer. He started the company in 2016 to help trucking companies conquer the … Continue reading “DriverReach Hopes to Move Trucking Industry Forward with Hiring App”
Scale Computing Snags $34.8M to Advance “Alternative” IT Platform
Scale Computing, an Indianapolis IT startup serving smaller businesses, distributed enterprises, and retailers around the world, has raised $34.8 million in a Series F funding round. Co-founder and CEO Jeff Ready says technology hardware giant Lenovo was the largest contributor to the round, which included participation from Allos Ventures and unspecified “existing investors.” Since the … Continue reading “Scale Computing Snags $34.8M to Advance “Alternative” IT Platform”
Bio Roundup: Depression Drug Dashed, Peek at ASH, CRISPR Worry & More
The gene-editing technology CRISPR-Cas9 is opening up new research avenues all the time, such as giving drug developers a cheaper, faster way to knock out genes in tumor cells. Studies of CRISPR-Cas9 to treat human disease are about to start, too. But will our immune systems, already on alert for common infections by the bacteria … Continue reading “Bio Roundup: Depression Drug Dashed, Peek at ASH, CRISPR Worry & More”
Cloud Leaders Shrug at IBM’s $34B Red Hat Deal
In some ways, the biggest software acquisition of all time could be a yawner. IBM’s planned $34 billion deal to acquire open-source software maker Red Hat is a hefty price to pay to give its cloud computing business a shot in the arm. But even if the purchase ultimately boosts IBM’s bottom line, some cloud … Continue reading “Cloud Leaders Shrug at IBM’s $34B Red Hat Deal”
IRobot’s Roombas to Map Households for Google Smart Homes
Autonomous vehicle developers rely heavily on navigational technology that maps the complex terrain of roads, curbs, signs, and people that their cars have to thread through. Google, as it develops its smart home systems, is turning to a company that already knows how to navigate the terrain of a household—corridors, kitchens, cat beds, cast-off shoes, … Continue reading “IRobot’s Roombas to Map Households for Google Smart Homes”
Teraki Using Edge Processing to Meet Exploding Data Demands of AVs
Teraki, a Berlin-based data processing and artificial intelligence company working in the mobility sector, has had a busy fall. In late September, Teraki raised a $3 million seed round from investors including Paladin Capital Group, GPS Ventures GmbH, and Deutsche Telekom’s hub:raum incubator. Earlier this month, the company announced its software would get its first commercial deployment in microcontrollers … Continue reading “Teraki Using Edge Processing to Meet Exploding Data Demands of AVs”
Facebook’s 3Q Growth Suffices to Stave Off Another Stock Dive
Facebook (NASDAQ: [[ticker:FB]]) shares gained nearly 3 percent Tuesday, and ticked up further in after-hours trading following the release of a third quarter earnings report that showed some strengths as well as shortfalls. Investors have been concerned about the social media giant’s slowing growth rate in a year when it has been under scrutiny for … Continue reading “Facebook’s 3Q Growth Suffices to Stave Off Another Stock Dive”
Fundraising Startup Classy Surpasses $1B Raised on Its Platform
It took six years for Classy, a software-as-a-service company that targets nonprofit organizations looking to fundraise online, to facilitate $500 million in donations. But the next $500 million took just 14 months. The San Diego-based startup announced the $1 billion milestone on Tuesday, citing the addition to its platform of ever-larger nonprofits—including the Salvation Army—as … Continue reading “Fundraising Startup Classy Surpasses $1B Raised on Its Platform”
Stantt CEO Thinks Its Approach to Selling Men’s Wear Fits Just Right
Stantt wants to make standard sizing anything but. “Traditional sizing only fits 15 percent of guys,” says Matt Hornbuckle, the startup’s founder and co-CEO. “Twins come in and get different sizes.” To connect guys with a shirt that fits well, the men’s wear startup created a database of “tens of thousands” of body scans. That … Continue reading “Stantt CEO Thinks Its Approach to Selling Men’s Wear Fits Just Right”
No Pipeline Problem: Backstage Capital’s Detroit Plans Spark Excitement
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”
IBM Buying Red Hat in $34B Mega-Deal to Beat Amazon, Google in Cloud
[Updated 10/29/18, 12:53 pm, with executives’ comments.] IBM has agreed to buy open-source software maker Red Hat in a $34 billion bet aimed at helping it win the cloud computing war against Amazon, Microsoft, and Google. It’s one of the largest-ever U.S. tech acquisitions—the $67 billion Dell-EMC deal holds the top spot. Armonk, NY-based IBM … Continue reading “IBM Buying Red Hat in $34B Mega-Deal to Beat Amazon, Google in Cloud”
Pineapples and Bananas: Yummy to Eat, And Now Fashionable to Wear
Style trends may come and go but the apparel industry is increasingly accepting that sustainability will always be in fashion. “We have the chance to shift the environment to a cleaner, more non-toxic place,” says Greg Altman, co-founder and CEO of Silk, a Boston-area maker of a proprietary liquid silk. “That’s really our goal.” To … Continue reading “Pineapples and Bananas: Yummy to Eat, And Now Fashionable to Wear”
U.K. Slaps Maximum Fine of $645,000 on Facebook for Privacy Violations
The U.K.’s data privacy regulator fined Facebook $645,000 for violations that allowed political marketing firm Cambridge Analytica and other outside companies to extract 87 million Facebook profiles worldwide without adequate user knowledge or consent. The purpose of the U.K.’s enforcement actions is to change the behavior of organizations that mishandle the sensitive private information of … Continue reading “U.K. Slaps Maximum Fine of $645,000 on Facebook for Privacy Violations”
Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More
In the biotech investment and research communities this week, much of the attention was turned to Europe. Munich, Germany, hosted the annual conference of the European Society for Medical Oncology, where cancer drug developers unveiled the latest clinical data for experimental immunotherapies and drugs that treat the disease based on a tumor’s genetic signature. Also … Continue reading “Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More”
Trump Plan Ties Medicare Drug Prices to Cheaper Foreign Ones
[Updated 5:41pm ET with analyst note, see below.] When the Trump administration announced its blueprint for lowering prescription drug prices in May, many observers said it was too soft on the biopharma industry and didn’t contain concrete initiatives that could truly cut costs. But with the U.S. midterm elections fast approaching and the high cost … Continue reading “Trump Plan Ties Medicare Drug Prices to Cheaper Foreign Ones”
Fresh Data Add More Confusion to Eisai-Biogen Alzheimer’s Drug
Three months after controversial data suggested an Alzheimer’s drug could slow the mental decline of the disease, the drug’s owners tried to bolster their argument today that the good news over the summer was not a statistical illusion. The drug in question is dubbed BAN2401, and it’s being co-developed by Biogen (NASDAQ: [[ticker:BIIB]]) of Cambridge, … Continue reading “Fresh Data Add More Confusion to Eisai-Biogen Alzheimer’s Drug”
Vertex Hums Along as AbbVie Snatches Up a Rival’s CF Drugs for $45M
AbbVie has just reworked a long-running deal with partner Galapagos NV, paying $45 million up front—a small sum for the pharmaceutical giant—to gain rights to all of the Belgian company’s experimental cystic fibrosis drugs. The deal changes the competitive landscape for cystic fibrosis, a field currently dominated by Boston-based Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]). AbbVie (NYSE: … Continue reading “Vertex Hums Along as AbbVie Snatches Up a Rival’s CF Drugs for $45M”
Berkeley’s SkyDeck Offers Chip Design Support Worth Millions to Startups
The current land rush in chip development, spurred as new technologies such as artificial intelligence create new needs, is pitting established semiconductor companies like Intel and Nvidia against tech titans like Facebook that are building their own chips. A wave of next-generation chip companies has also entered the fray. So how much room remains for … Continue reading “Berkeley’s SkyDeck Offers Chip Design Support Worth Millions to Startups”
Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron
[Updated, 10/25/18, 12:15 a.m. See below.] Amgen is cutting the list price of its new cholesterol-lowering drug by nearly 60 percent, a move the company says is intended to make the product more affordable for more patients. The move is a shot across the bow of Regeneron Pharmaceuticals (NASDAQ: [[ticker:REGN]]]). The Tarrytown, NY firm recently … Continue reading “Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron”
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”
Baubles & Bling: Swoonery Uses Tech to Connect Shoppers With Jewelry
Jean Poh’s family has been in the jewelry business for four generations. And, for the most part, the industry has operated much the same as it always has, she says. Following a professional detour in which she worked as an attorney and angel investor, Poh made her way back to the jewelry business. She began … Continue reading “Baubles & Bling: Swoonery Uses Tech to Connect Shoppers With Jewelry”
ESMO ’18: Precision Meds, Breast, Lung, and More from the Cancer Front
[Ben Fidler co-authored this report.] The European Society for Medical Oncology is wrapping up its annual conference today, replete with clinical data from cancer’s front lines. We’ve sorted the headlines into a few big categories: immunotherapy combinations, breast cancer, lung cancer, the growing class of drugs called PARP inhibitors, and new drugs that treat tumors … Continue reading “ESMO ’18: Precision Meds, Breast, Lung, and More from the Cancer Front”
Why Technology Alone Won’t Fix Education
“Artificial intelligence will transform the education system.” “Immersive technology will reshape learning forever.” These are just some of the industry rumblings about how edtech will disrupt and ultimately “fix” what’s wrong with the education system in the United States. With back-to-school season in full swing, it’s imperative that we set the record straight. The truth … Continue reading “Why Technology Alone Won’t Fix Education”
Tech Industry Lobby Proposes Data Privacy Laws; Critics Call Them Weak
The tech industry, which reaps billions of dollars by harvesting personal data and using it to sell targeted advertising and other services, opened the door to federal data privacy regulations today in a proposal by ITI, a lobbying organization for tech companies. The Information Technology Industry Council, which represents the policy interests of companies including … Continue reading “Tech Industry Lobby Proposes Data Privacy Laws; Critics Call Them Weak”
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”
Google Launching Its Own Computer Science Courses on Campuses
Early next year, twenty students will have the opportunity to study machine learning for 10 weeks with Google engineers, college professors, and coaches—free of charge. Google is picking up the tab for tuition, room, and board for all students accepted into its new machine learning intensives in the inaugural year of the program, which starts … Continue reading “Google Launching Its Own Computer Science Courses on Campuses”
Entrepreneurs Thinking Inside the Box
Hackathons usually involve thinking outside of the box. But for myself and four other MIT students, brainstorming, eating, and sleeping inside a 16-foot by 16-foot glass cube on campus for four days straight in mid-September proved just as effective at getting our creative juices flowing. The experience was part of InCube 2018, a global startup … Continue reading “Entrepreneurs Thinking Inside the Box”
Bio Roundup: Prices on TV, Novartis Hearts Radio, Warp Drive’s End
Two new battlegrounds emerged this week in the nation’s ongoing drug pricing debate. The first involved television: The federal government hopes that blaring prices in TV ads will essentially pressure drug makers into lowering them, and the pharma lobby fired back. The second centered around a group of pricey new migraine drugs: The nation’s largest … Continue reading “Bio Roundup: Prices on TV, Novartis Hearts Radio, Warp Drive’s End”
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”
Report: Express Scripts Shuts Out Teva Migraine Drug, Prefers Rivals
[Updated 10/17/18, 2:52 p.m. See below.] Express Scripts has just exerted its influence over the emerging market battle between drug makers trying to sell a new class of migraine-preventing medicines. The pharmacy benefits manager (PBM) is excluding a new drug from Teva Pharmaceutical from coverage while favoring two rival treatments instead, according to a report … Continue reading “Report: Express Scripts Shuts Out Teva Migraine Drug, Prefers Rivals”
SoftBank’s Arm to Include Cybereason Security Services in IoT Hub
Security-tech company Cybereason is announcing another boon flowing from close ties with its biggest investor, Japanese telecom and tech giant SoftBank. Boston-based Cybereason has formed a partnership with Arm, the dominant developer of computer chip architecture, which was acquired by SoftBank in 2016. Cybereason’s security services will be incorporated into the Arm Pelion IoT platform, a … Continue reading “SoftBank’s Arm to Include Cybereason Security Services in IoT Hub”
Citing Regulatory Uncertainty, Origin Code Academy to Close
Origin Code Academy, one of San Diego’s few coding schools—for-profit companies that offer short-term vocational training in computer programming—said this month it will shutter on Nov. 16 after about three years in business. The company opened in late 2015, offering a 12-week course for $13,500 and promising graduates a software job within 90 days of … Continue reading “Citing Regulatory Uncertainty, Origin Code Academy to Close”
Paul Allen’s Contributions, Far Beyond Microsoft, Touched the Brain, AI & More
Technology and life sciences leaders say they’ll remember Paul Allen, the Microsoft co-founder, philanthropist, and investor who passed away Monday at age 65, as an “inspiration” whose work will impact the fields he worked in for years to come. Allen died from complications of non-Hodgkin’s lymphoma, according to a statement from Vulcan, the Seattle-based philanthropy … Continue reading “Paul Allen’s Contributions, Far Beyond Microsoft, Touched the Brain, AI & More”
Tulerie Helps Users Dress Like Models, Without Breaking the Bank
Tulerie makes its debut today, joining a growing roster of online clothing rental startups. The New York-based Tulerie focuses on high-end couture—items that retail for $1,000 to $10,000—that might be worn a time or two but mostly take up space in a woman’s closet. The company is building a two-sided marketplace, with owners of haute … Continue reading “Tulerie Helps Users Dress Like Models, Without Breaking the Bank”
After Net Neutrality: How to Prepare for the Internet’s New Reality
The federal net neutrality regulation, which had guaranteed equal access to the Internet for data from all sources, is officially repealed. There are no longer federal rules ensuring that all Internet traffic must be treated equally, and no FCC protections to stop Internet Service Providers (ISPs) from engaging in blocking, throttling, or paid prioritization of … Continue reading “After Net Neutrality: How to Prepare for the Internet’s New Reality”
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””
Room Service by Robot and Other Ways Tech Is Changing the Hotel Stay
More days than not, Michael Colaneri’s home is a hotel room. So innovations like “geolocation” sensors that automatically unlock his room door and adjust the thermostat when he’s nearby make the constant change easier—sometimes. “My experience has been exceptionally inconsistent,” he says. “When it’s worked, it’s really great, cool, and so efficient to the point … Continue reading “Room Service by Robot and Other Ways Tech Is Changing the Hotel Stay”
Bio Roundup: BIO Diversity, Allogene IPO, CRISPR In Utero & More
Nearly four years after investors snapped up new shares of Juno Therapeutics in a $265 million IPO, cancer immunotherapy remains a hot ticket. Like Juno, Allogene Therapeutics just pulled in a massive IPO haul, nearly $300 million. And like Juno, Allogene is working with a live immune-cell treatment called CAR-T, but it is harvesting cells … Continue reading “Bio Roundup: BIO Diversity, Allogene IPO, CRISPR In Utero & More”
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”
Facebook Bars 800 Fake Accounts and Pages For Using Tactics Like Russia’s
In another wave of account shutdowns, Facebook announced Thursday that it disabled more than 800 pages and accounts to prevent groups that disguised their identities from flooding its network with inauthentic content—some of it hyper-partisan political messages. Facebook (NASDAQ: [[ticker:FB]]) has been under pressure to cleanse its pages of fake news since the discovery that … Continue reading “Facebook Bars 800 Fake Accounts and Pages For Using Tactics Like Russia’s”
BIO Has Big Diversity Goals. Does It Have the Means to Reach Them?
Whether from embarrassing parties or sobering surveys, the biotech gender gap problem has made plenty of headlines the past couple years. The industry’s largest trade group, the Biotechnology Industry Organization (BIO), is trying to encourage its more than 1,000 member companies to do better. Last winter, BIO posted diversity goals for the industry to hit … Continue reading “BIO Has Big Diversity Goals. Does It Have the Means to Reach Them?”