In a few weeks, Detroit-based Hantz Farms will present the Detroit City Council with its plan to build the largest urban farm the nation has ever seen. The plan has been years and millions of dollars in the making, and there’s no doubt that it has the potential to reinvent the city’s economy, creating jobs … Continue reading “Will Detroit’s Hantz Farms be the World’s First Urban Farm?”
Category: Detroit
Stirring the Pot Once in a While Doesn’t Hurt, and It Could Help Biotech Break its Malaise
Listen to enough biotech industry leaders talk in public, and you’ll hear a lot of carefully scripted comments. Everyone can list off their corporate milestones on a PowerPoint slide, and utter some politically correct platitudes about novel technology, helping patients, having a “good working relationship” with the FDA, constructive partnership talks. Blah, blah, blah. Rarely … Continue reading “Stirring the Pot Once in a While Doesn’t Hurt, and It Could Help Biotech Break its Malaise”
Mascoma, Biofuels Maker Backed by Big VCs, Files for IPO
Big news today in New England cleantech—a sector that could certainly use some positive developments. Lebanon, NH-based Mascoma, a biofuels firm that plans to break ground on a cellulosic ethanol plant in Michigan later this year, has filed for an initial public offering. In its SEC filing, Mascoma says it intends to sell up to … Continue reading “Mascoma, Biofuels Maker Backed by Big VCs, Files for IPO”
A Day in the Life of the San Francisco Tech Community
My job is pretty cool. I get to spend time picking the brains of some of the planet’s smartest and most successful entrepreneurs—and invariably, I’m asking them to talk about the one thing they care about most passionately, their startup and/or its technology. Even if I weren’t doing something I care about passionately myself—helping to … Continue reading “A Day in the Life of the San Francisco Tech Community”
Entrepreneur Walk of Fame Opens in Kendall Square: Gates, Jobs, Kapor, Hewlett, Packard, Swanson, and Edison are Inaugural Inductees
It was a little over a year ago that Xconomy broke the news that a movement was underway to bring an Entrepreneur Walk of Fame to Kendall Square in Cambridge, MA, modeled after its Hollywood namesake. The idea makes a lot of sense: If we celebrate movie stars and athletes, why not the top innovators … Continue reading “Entrepreneur Walk of Fame Opens in Kendall Square: Gates, Jobs, Kapor, Hewlett, Packard, Swanson, and Edison are Inaugural Inductees”
Angie’s List Secures $15,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6a7bb57e-3eb6-42f6-b8c7-fd3c7f864ecd&Preview=1 Date 9/16/2011 Company Name Angie’s List Mailing Address 1030 E. Washington St. Indianapolis, IN 46202 Company Description Angie’s List is a growing collection of homeowners’ real-life experiences with local service companies. The people who join Angie’s List are like you — looking for a way to find trustworthy companies that perform … Continue reading “Angie’s List Secures $15,000,000 New Financing Round”
Angie’s List Secures $15,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6a7bb57e-3eb6-42f6-b8c7-fd3c7f864ecd&Preview=1 Date 9/16/2011 Company Name Angie’s List Mailing Address 1030 E. Washington St. Indianapolis, IN 46202 Company Description Angie’s List is a growing collection of homeowners’ real-life experiences with local service companies. The people who join Angie’s List are like you — looking for a way to find trustworthy companies that perform … Continue reading “Angie’s List Secures $15,000,000 New Financing Round”
Angie’s List Secures $15,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6a7bb57e-3eb6-42f6-b8c7-fd3c7f864ecd&Preview=1 Date 9/16/2011 Company Name Angie’s List Mailing Address 1030 E. Washington St. Indianapolis, IN 46202 Company Description Angie’s List is a growing collection of homeowners’ real-life experiences with local service companies. The people who join Angie’s List are like you — looking for a way to find trustworthy companies that perform … Continue reading “Angie’s List Secures $15,000,000 New Financing Round”
Merck Joins the Big Pharma VC Party, Setting Up $250M Biotech Investment Fund
[Updated with Merck comment 1:25 pm ET, 9/16] Just about all the major pharmaceutical companies have their own venture capital funds to invest in biotech startups, and now one of the real biggies, Whitehouse Station, NJ-based Merck, has joined the club. Merck (NYSE: [[ticker:MRK]]) has established the new Merck Research Venture Fund (MRVF) with $250 … Continue reading “Merck Joins the Big Pharma VC Party, Setting Up $250M Biotech Investment Fund”
Silicon Valley’s Pay-It-Forward Culture
Foreign visitors to Silicon Valley continually mention how willing we are to help, network and connect strangers. We take it so for granted we never even to bother to talk about it. It’s the “Pay-It-Forward” culture. The Chips are Down in 1962 Walker’s Wagon Wheel Bar/Restaurant in Mountain View became the lunch hangout for employees … Continue reading “Silicon Valley’s Pay-It-Forward Culture”
Altair ProductDesign Unveils World’s First Hydraulic Hybrid Bus
Last week, Troy-based Altair ProductDesign unveiled the world’s first series hydraulic hybrid transit bus, the LCO-140H (Low-Cost of Ownership-1st 40-foot Hybrid). The LCO-140H achieved an industry high fuel economy of 6.9 mpg when tested using “stop-and-go” cycles and test protocols established by the Federal Transit Administration —110 percent better fuel economy than conventional diesel buses … Continue reading “Altair ProductDesign Unveils World’s First Hydraulic Hybrid Bus”
NextCAT Awarded $500K Small Business Grant
Detroit-based alternative energy startup NextCAT last week announced it has received a Phase II Small Business Innovation Research award from the National Science Foundation (NSF) in the amount of $498,830, bringing NextCAT’s total grant funding to $1.3 million. The company is working to commercialize a class of biofuel catalysts developed at Wayne State University. The … Continue reading “NextCAT Awarded $500K Small Business Grant”
Xconomist of the Week: Reed Sturtevant of Lotus, Idealab, and Microsoft Fame Talks Tech Trends to Watch
You know the type. He’s at every tech startup event, every investor event, and every incubator and early-stage mentorship session (at least every good one). He’s talked to every entrepreneur in the area and has had a hand in the development of many of their companies. He has been a fixture of the local software … Continue reading “Xconomist of the Week: Reed Sturtevant of Lotus, Idealab, and Microsoft Fame Talks Tech Trends to Watch”
IPOs Look Dicey, But Private Equity May Pick Up Some Of The Slack
For a while, I was optimistic that 2011 would be a good year for venture capital-backed IPOs, and it wasn’t just wishful thinking. There were 72 VC-backed IPOs last year—six times as many as in 2009. The year ended with a bang and 2011 got off to a good start. In the first half of … Continue reading “IPOs Look Dicey, But Private Equity May Pick Up Some Of The Slack”
iRule Obtains $450,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4a8f68b3-3713-4a62-aa55-c356711287a2&Preview=1 Date 9/15/2011 Company Name iRule Mailing Address 29698 Andover Blvd Farmington Hills, MI 48331 Company Description iRule is the app that transforms your iPhone, iPad, or iPod touch into a universal remote control. It uses your home’s existing WiFI network to send commands from your mobile device to a network gateway. … Continue reading “iRule Obtains $450,000 New Financing Round”
Ford, Bug Labs Team Up To Develop Open-Source Car Connectivity Tools
Cars have come a long way since the Model T. Technology now allows your car to play music off your iPhone, to tell you how to parallel park, and to alert you when you’re about to bump into a shopping cart as you’re backing out. If Ford and New York City-based Bug Labs have anything … Continue reading “Ford, Bug Labs Team Up To Develop Open-Source Car Connectivity Tools”
10 Surprises of a First-Time Entrepreneur
As a young entrepreneur, I cannot overstate the importance of serendipity. I don’t know whether I’ll ultimately be successful or not, but the success I’ve had so far has been 10 percent inspiration, 90 percent perspiration, and 50 percent surprises. And if you’re saying that this adds up to 150 percent—you’re catching on to my … Continue reading “10 Surprises of a First-Time Entrepreneur”
ApeniMED Garners $1,690,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=509b8c88-6c72-4083-b188-703fe3df64a7&Preview=1 Date 9/14/2011 Company Name ApeniMED Mailing Address 510 First Avenue North Minneapolis, MN 55403 Company Description ApeniMED was founded by CEO John Fraser in 2007 to further his vision of automating the exchange of health information with the emerging Nationwide Health Information Network (NHIN). As technology began to radically transform the … Continue reading “ApeniMED Garners $1,690,000 New Financing Round”
Mobile Platform Wars: What’s Next?
This has been the month of the handset. First, Google’s acquisition of Motorola Mobility, then HP’s effective exit from the handset business, and finally the sad news about Steve Jobs. These recent events kick off what I believe will be an accelerated pace of developments and re-shaping of the mobile device/platform ecosystem. Within the next … Continue reading “Mobile Platform Wars: What’s Next?”
Bioformix Secures $6,040,593 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e44a0fce-e6db-4502-85fb-8971e8de8e85&Preview=1 Date 9/13/2011 Company Name Bioformix Mailing Address 4366 Glendale Milford Rd. Cincinnati, OH 45242 Company Description The company is developing sustainable adhesives and plastic alternatives. Website Undisclosed Transaction Type Venture Equity Transaction Amount $6,040,593 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. SEC regulatory filing. M&A Terms Venture Investor … Continue reading “Bioformix Secures $6,040,593 New Financing Round”
WSU Program Nurtures Budding Research Scientists
At Wayne State University, labs aren’t just a sterile space for solemn experiments. For students in the school’s Initiative for Maximizing Student Development (IMSD), it’s a chance to work directly with their instructors, get a taste of the scientific life, and gather some up-close career advice in the process. “The laboratory setting is almost like … Continue reading “WSU Program Nurtures Budding Research Scientists”
Don’t Ask for Introductions to Investors
Raising money is hard, and there’s no way to screw it up faster than going around asking, “Hey, could you introduce me to some investors?” It’s sort of like when, on the second day of school, a goofy freshman asked me if I could introduce him to any girls. Reason 1: Not every investor is … Continue reading “Don’t Ask for Introductions to Investors”
What Most Biotechies Are Missing on Twitter: A Huge Networking Opportunity
Twitter is coming to biotech, it’s only a matter of time. And this is a truly wonderful thing. This thought occurred to me as I sat in my Seattle office, watching a video from a panel discussion of eight people in Boston—journalists, executives, venture capitalists, a PR person—who were talking about how biotechies can get … Continue reading “What Most Biotechies Are Missing on Twitter: A Huge Networking Opportunity”
SoMoLend Lands $310,000 Seed Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f5916938-a63f-459f-9d91-504510ae5de1&Preview=1 Date 9/12/2011 Company Name SoMoLend Mailing Address 1660 West 2nd Street Cleveland, OH 44113 Company Description SoMoLend LLC, a company developing a peer-to-peer lending platform for small businesses. Website Undisclosed Transaction Type Venture Equity Transaction Amount $310,000 Transaction Round Seed Proceeds Purposes Proceeds purposes were not disclosed. The company has yet … Continue reading “SoMoLend Lands $310,000 Seed Financing Round”
Ebates Acquires FatWallet.com for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f3fcf00a-b120-45a9-8b50-b9d174b63bb7&Preview=1 Date 9/12/2011 Company Name FatWallet.com Mailing Address 100 East Grand Avenue Beloit, WI 53511 Company Description We take the best deals and make them better by offering easy-to-use shopping solutions that help you search and find the right things at the right price, right now. Website http://www.fatwallet.com Transaction Type M&A Transaction … Continue reading “Ebates Acquires FatWallet.com for Undisclosed Sum”
Michigan Emerging
Gov. Rick Snyder will deliver the keynote address at this symposium geared toward “movers, shakers, entrepreneurs, and those who love Michigan and want to help.” The packed agenda includes panels, clinics, and an awards ceremony. Click here for details and registration.
The Tech World Deserves Better Than TechCrunch
Back in April 2009, community leaders in Boston were in a tizzy over the prospect of a shutdown at the Boston Globe, where unions were resisting salary and pension cuts proposed by the paper’s owner, the New York Times Co. I didn’t quite understand the leaders’ concerns. As a longtime admirer of the Globe, I … Continue reading “The Tech World Deserves Better Than TechCrunch”
BioArbor: Defining the Future Growth of Michigan’s Biosciences Sector
Ann Arbor SPARK hosts a discussion about the current state of Michigan’s bio-industry with speakers Michael Finney, President and CEO of the Michigan Economic Development Corporation, and William Parfet, CEO of MPI Research. For details and registration info, click here.
American Innovators Lose Big in Newly Passed Patent Bill
American innovation lost big again as the U.S. Senate passed “patent reform” and caved to big business lobbyists at the expense of true innovators in small companies and universities. Bottom line: America has dominated innovation in the world for 100 years based on our patent system and protection of risk-takers. Innovation is the one thing … Continue reading “American Innovators Lose Big in Newly Passed Patent Bill”
To Bring Driving into the Infotainment Age, GM’s Palo Alto Office Melds Silicon Valley Fancy with Detroit Pragmatism
I visited GM’s Advanced Technology division in Silicon Valley on August 4, the same day the Detroit giant revealed its second-quarter financial results. The numbers were far better than one might have expected, given the automaker’s troubled recent history. GM said it brought in $2.5 billion in net income in the quarter, which was a … Continue reading “To Bring Driving into the Infotainment Age, GM’s Palo Alto Office Melds Silicon Valley Fancy with Detroit Pragmatism”
Arboretum Closes Third Fund with $140 Million
Ann Arbor, MI-based Arboretum Ventures, a venture capital firm specializing in early-stage healthcare investments, today announced the final closing of its third investment fund with capital commitments totaling $140 million, well above the $125 million target for the fund. The firm said in a press release that it now has $235 million in capital under management, and has invested … Continue reading “Arboretum Closes Third Fund with $140 Million”
Xconomist of the Week: Five Questions with Biocom CEO Joe Panetta
Joe Panetta is a 30-year biotech veteran on both sides of the interface between business and government regulators. He’s spent close to half of that time as president and CEO of Biocom, the San Diego-based regional life sciences industry association. Panetta also happens to be the latest member of the local innovation community to join … Continue reading “Xconomist of the Week: Five Questions with Biocom CEO Joe Panetta”
Trunk Club Obtains $11,000,000 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=488c9b3e-e6e3-4d91-be8c-f65928e771bb&Preview=1 Date 9/8/2011 Company Name Trunk Club Mailing Address 311 W. Superior St Chicago, IL 60654 Company Description Like many guys, we’ve always felt the traditional shopping experience, either in retail stores or online, wasn’t working for us. It’s time consuming, overwhelming, and not personalized at all. Even with all the great … Continue reading “Trunk Club Obtains $11,000,000 Series A Financing Round”
Johnson Controls, Saft to End Battery Partnership
Johnson Controls (NYSE: JCI) and Saft (Euronext: SAFT) announced Friday that they have reached an agreement to end their joint venture to manufacture advanced batteries for the autmotive industry. JCI will take control of all operations at a plant currently under construction in Holland, MI—a project that was awarded nearly $450 million in state and … Continue reading “Johnson Controls, Saft to End Battery Partnership”
SBTDC Offers Classes by Entrepreneurs for Entrepreneurs
The Michigan Small Business & Technology Development Center is hosting a series of business development programs aimed at both start-up and second-stage businesses. FastTrac NewVenture and FastTrac GrowthVenture are 10-week programs being held in Wayne County and Oakland County. Classes begin on Oct. 4 in Tech Town, 440 Burroughs Street, Detroit; Oct. 11 in Oakland County; and … Continue reading “SBTDC Offers Classes by Entrepreneurs for Entrepreneurs”
(Mis)Understanding Drug Discovery: It’s Much Harder Than Rocket Science
Developing new medicines is an amazingly difficult undertaking. The research portion alone is daunting, and for those of us who have actually attempted it, humbling. A recent article reminded me just how little many people understand about the drug discovery process. The basic premise of “Pharma Needs an Innovation Intervention” was that pharma should change … Continue reading “(Mis)Understanding Drug Discovery: It’s Much Harder Than Rocket Science”
Arctaris Capital Partners Ventures Into Detroit
Why would Waltham, MA-based Arctaris Capital Partners, a venture capital firm seeking new approaches to investment in a post-recession market, choose to open an office in the city that, in the media at least, often serves as the poster child for the carnage wrought by the shrinking American economy? “We started in Detroit 18 months … Continue reading “Arctaris Capital Partners Ventures Into Detroit”
The Business of Plugging In: A Plug-In Electric Vehicle Conference
The Center for Automotive Research hosts this international event, which includes panels, workshops, breakouts and even the chance to take electric vehicles such as the Chevy Volt, Nissan Leaf, Vauxhall Vivaro, and Saturn Sky for a spin. For full event details and registration, click here.
Dramatic Changes in Hepatitis C Treatment Expected to Continue
Earlier this year the FDA approved telaprevir (Incivek) from Vertex Pharmaceuticals and boceprevir (Victrelis) from Merck for the treatment of hepatitis C. Both agents are protease inhibitors and represent the first approvals of direct acting antivirals for hepatitis C. Direct acting antivirals are a broad class of agents that act to block the growth of … Continue reading “Dramatic Changes in Hepatitis C Treatment Expected to Continue”
Fearless Fantasy Football, Uh, I Mean Biotech, Predictions for the Season Ahead
Football season is getting started this week, and I’m pumped. This is the time millions of people test their wits against friends (and strangers) in fantasy football. For fellow biotech nerds who aren’t familiar, this is a little bit like the stock market—you try to pick a diversified portfolio of pro football players who you … Continue reading “Fearless Fantasy Football, Uh, I Mean Biotech, Predictions for the Season Ahead”
Labor Day Friday Bad News Poll Results: Government Jobs Report the Worst Biz News of the Weekend
Well, it turned out that perhaps I was too cynical. On Friday morning, I posted the Labor Day Bad News Poll, pointing out that companies often buried bad news after markets closed on a Friday—and asking readers to predict what type of bad news they expected, if any, on the extra slow Friday before Labor … Continue reading “Labor Day Friday Bad News Poll Results: Government Jobs Report the Worst Biz News of the Weekend”
MyPad and the Coming Facebook Wars on the iPad
Why on earth isn’t there an official Facebook app for the iPad? The social networking giant has had an iPhone app ever since the launch of the iTunes App Store in 2008, and the company says that more than 250 million people access Facebook through mobile devices. Its engineers have tried to make the Facebook … Continue reading “MyPad and the Coming Facebook Wars on the iPad”
The Labor Day Friday Bad News Poll
Any savvy news hound knows that companies love to bury bad news by disclosing it after the close of markets on a Friday. The Friday before a long weekend like Labor Day is especially attractive. That got me wondering what bad news might be coming today. Is there another big CEO shuffle looming, a la … Continue reading “The Labor Day Friday Bad News Poll”
Ilesfay Technology Group Garners $350,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=15490986-22cb-47f5-9282-216832c5d1d1&Preview=1 Date 9/2/2011 Company Name Ilesfay Technology Group Mailing Address 10979 Reed Hartman Hwy Blue Ash, OH 45242 Company Description The Ilesfay team brings unique IP and tremendous domain expertise to its cloud services. The team has years of experience tackling infrastructure limitations of PLM implementations. Website http://www.ilesfay.com Transaction Type Venture Equity … Continue reading “Ilesfay Technology Group Garners $350,000 New Financing”
MABEL: U-M Robot to the Rescue
Dateline: 2030, give or take. We’re at war. Bullets are flying, ordnance is exploding, and conditions are beyond dangerous. Soldiers are scattered across the landscape, bleeding and waiting for help. A commander gives the order, and suddenly a fleet of robots storms the battlefield to pull the wounded to the safety of waiting rescue helicopters. … Continue reading “MABEL: U-M Robot to the Rescue”
Why Governments Don’t Get Startups–Or, Why There’s Only One Silicon Valley
Not understanding and agreeing what “entrepreneur” and “startup” mean can sink an entire country’s entrepreneurial ecosystem. I’m getting ready to go overseas to teach, and I’ve spent the last week reviewing several countries’ ambitious attempts to kick-start entrepreneurship. After poring through stacks of reports, white papers and position papers, I’ve come to a couple of … Continue reading “Why Governments Don’t Get Startups–Or, Why There’s Only One Silicon Valley”
Mascoma Gets New Financing, Plans 2011 Biorefinery Groundbreaking
Lebanon, NH-based biofuels company Mascoma Corporation has tapped a new $50 million convertible debt financing for $6.9 million, according to documents filed with the Securities and Exchange Commission on August 18. Thirty investors participated in the financing, including Hemant Taneja from General Catalyst Partners and Jim Matheson from Flagship Ventures. Mascoma announced in January that it … Continue reading “Mascoma Gets New Financing, Plans 2011 Biorefinery Groundbreaking”
Xconomist of the Week: Bob Langer’s Advice for Turning Foundation and Government Money into Startup Success
Yesterday, Selecta Biosciences—one of many companies founded by MIT professor and entrepreneur Bob Langer—announced that it had received a subcontract from the Science Applications International Corporation (SAIC) to develop a vaccine against malaria. The financial details weren’t released, but the initiative is part of a $76.5 million contract SAIC has with the National Institutes of … Continue reading “Xconomist of the Week: Bob Langer’s Advice for Turning Foundation and Government Money into Startup Success”
UM to Offer New Graduate Program in Entrepreneurship
Students and venture capitalists seeking to bring more startups to Ann Arbor may find just the catalyst they’ve been looking for in a new University of Michigan graduate program in entrepreneurship. UM currently offers a nine-credit certificate in entrepreneurship for undergraduates, but the forthcoming master’s in entrepreneurship program—which will consist of 36 credits, according to … Continue reading “UM to Offer New Graduate Program in Entrepreneurship”
Danotek Raises $15M in Series B Round
Canton, MI-based Danotek Motion Technologies, a startup company that develops and manufactures permanent magnet generators and related converter systems for the wind-energy industry, today announced that it has secured $15 million in funding. Led by four of the world’s leading renewable energy venture capital firms—Khosla Ventures, CMEA Capital, GE Energy Financial Services, and Statoil Technology Invest, along with … Continue reading “Danotek Raises $15M in Series B Round”