Play too many video games and you might get repetitive strain injuries (RSI). But Ford Motor is adopting video game technology so its workers don’t get RSI. The company, based in Dearborn, MI, is using Hollywood-style motion capture technology (the kind that makes Green Bay Packers quarterback Aaron Rodgers so lifelike on Madden 2011) to … Continue reading “Who’s That (Virtual) Girl? Ford Uses Motion Capture Technology to Design Worker-Friendly Factories”
Category: Detroit
InPore Switches Gears; Michigan State University Startup Now Targets Flame Retardants Instead of Wind Turbines
Plan B it is. When Xconomy first profiled InPore Technologies last year, the Michigan State University spinout was trying to woo wind turbine makers with a new nanomaterial they could use to build light-weight, scratch resistant blades. But faced with deteriorating turbine sales, the company, based in East Lansing, MI, has reversed course and is … Continue reading “InPore Switches Gears; Michigan State University Startup Now Targets Flame Retardants Instead of Wind Turbines”
Green Shoots of an Entrepreneurial Spring
[Editor’s note: Cross-posted from The Economist, 6/16/11] As the G8 last month pledged $10 billion to aid the Arab Spring to support the building of economic and political institutions, the May 24th NASDAQ debut of Russia’s $10 billion Yandex was but one of many green shoots of an equally significant Entrepreneurial Spring blossoming out from … Continue reading “Green Shoots of an Entrepreneurial Spring”
Pfizer’s Idea to Fix the Drug Development Crisis, Which Probably Won’t Work (But Just Might)
Big companies love acronyms, and Pfizer is no exception. So when I heard the world’s biggest drugmaker talk about using its CTI network to validate POMs, it sounded like some Dilbert-style, soul-crushing initiative going nowhere. Writing off this latest initiative would be the safe bet, as many have tried and failed to revitalize the unproductive … Continue reading “Pfizer’s Idea to Fix the Drug Development Crisis, Which Probably Won’t Work (But Just Might)”
TechShop Detroit Facility (Finally) Will Debut In October
It took longer than expected but TechShop will finally open…uh, shop in Detroit this fall. The Menlo Park, CA-based company, a self-described “membership-based, do-it-yourself workshop and fabrication studio” will open a 12,000 square foot facility at Ford Motor facility in 800 Republic, Allen Park, MI in October, TechShop CEO Mark Hatch tells Xconomy in an … Continue reading “TechShop Detroit Facility (Finally) Will Debut In October”
An Ode to Error: Entrepreneurship and the Importance of Being Wrong
Is your world view marked by a sense of hopelessness? Do you obsess about past errors? Do you tend to minimize or overlook positive news? If your answers are yes, you may not be clinically depressed. Maybe you’re just being realistic. Depressed people are often told they’re just not looking at things the right way. … Continue reading “An Ode to Error: Entrepreneurship and the Importance of Being Wrong”
Converting Gas Guzzlers To Hybrids; ALTe Targets Government And Commercial Fleets With Conversion Kits
ALTe Powertrain Technologies has a lot of room to grow. Both literally and figuratively. Inside the company’s mammoth 150,000 square foot headquarters in Auburn Hills, MI, pieces of white paper arranged on the floor neatly mark the location of soon-to-be assembled parts of its product: A powertrain kit that will convert ordinary gas-powered vehicles into … Continue reading “Converting Gas Guzzlers To Hybrids; ALTe Targets Government And Commercial Fleets With Conversion Kits”
Startup Weekend, Looking to Strengthen Communities for Entrepreneurs, Builds New Startup Foundation in Seven Cities
Startup Weekend, the create-a-company cram session that has spread worldwide in just a few years, is branching out in a big way. The Seattle-based nonprofit tells Xconomy it is creating a sister organization called the Startup Foundation, aimed at establishing a permanent hub for local entrepreneurial communities around the globe. The new project has backing … Continue reading “Startup Weekend, Looking to Strengthen Communities for Entrepreneurs, Builds New Startup Foundation in Seven Cities”
Despite Early “Victories,” Medical Device Industry Continues To Face Uphill Slog in Washington DC
From a $20 billion industry tax to pay for healthcare reform to the Food and Drug Administration’s plans to toughen the 510(k) approval program, the medical device industry hasn’t had much to cheer about of late. However, things were starting to look up this year. After a slow start, the industry began to mobilize its … Continue reading “Despite Early “Victories,” Medical Device Industry Continues To Face Uphill Slog in Washington DC”
Delphi Automotive Owes Its Current Success To….Medical Devices?
Somewhere lost in the Groupon/tech IPO bubble, er…I mean, resurgence, was Delphi Automotive Systems’ recent announcement that it is seeking to raise $100 million through its own IPO. A successful return to Wall Street would cap an impressive turnaround for the Troy, MI-based maker of auto parts, whose reliance on General Motors drove its previous … Continue reading “Delphi Automotive Owes Its Current Success To….Medical Devices?”
Why Twitter Matters Now in Biotech, and Why Executives Can’t Ignore it Anymore
Two years ago, I caved in to the pressure and signed up for a Twitter account. I had been resisting for months. Millions of people were flocking to the 140-character microblogging service, but from what I could see then, it looked like a time-wasting fad. Hardly anybody in the business I write about, biotechnology, was … Continue reading “Why Twitter Matters Now in Biotech, and Why Executives Can’t Ignore it Anymore”
Apple: The New Headquarters of Computing
You probably thought that the biggest news out of Apple this week was about iCloud, the new cloud data sharing service unveiled at the World Wide Developer Conference in San Francisco. Or maybe you’d point to iOS 5, the next version of Apple’s operating system for the iPhone, iPad, and iPod Touch, or Lion, the … Continue reading “Apple: The New Headquarters of Computing”
From Lab To Incubator To Research Complex, We Have The Makings Of An Innovation Factory In Michigan
Lycera is coming home. The company recently said it will move from Plymouth, MI to the University of Michigan’s North Campus Research Complex (NCRC) in Ann Arbor. But this move is not merely just a physical relocation. In 2008, Pfizer decided to pull out of Michigan, a move the state largely greeted with dismay and … Continue reading “From Lab To Incubator To Research Complex, We Have The Makings Of An Innovation Factory In Michigan”
At The Great Lakes Stem Cell (Innovation) Center, Researchers Anxiously Wait For Technology To Take Off
On the fourth floor of the TechTown science and research park in Detroit, the words “Great Lakes Stem Cell Commercialization Center” practically startle a vistor with their large, dark green lettering sprawled across a white wall. “Yeah, we’re changing the name,” James Eliason, the center’s director, tells me. “Really?” I ask. “Why?” “Well, for one … Continue reading “At The Great Lakes Stem Cell (Innovation) Center, Researchers Anxiously Wait For Technology To Take Off”
Don’t Discount Biofuels
As one who’s spent a lifetime chasing the quest of a practical, sustainable bioeconomy – I have sympathy for biofuel skeptics. Let’s face it; petroleum is an incumbent that has no match in political or economic strength. But it is hard to deny the convergence of historical and technological trends that suggest a sustainable biofuel … Continue reading “Don’t Discount Biofuels”
Baird Venture Partners Pushes Ahead With Molecular Imaging Research Reboot
There’s luck. And then there’s pure serendipity. About a year ago, Baird Venture Partners (BVP) in Chicago had an idea. With Big Pharma increasingly parceling out drug development work to outside firms, the time seemed right for a startup that would offer specialized imaging services to companies who needed to test their therapies on small … Continue reading “Baird Venture Partners Pushes Ahead With Molecular Imaging Research Reboot”
ASCO Wrap-Up: The Skinny on Cancer News From All Corners of the U.S.
Whoever came up with the phrase “drinking from the fire hose,” could have easily been thinking of the American Society of Clinical Oncology annual meeting. The information on cancer R&D has been flowing furiously the past few days at ASCO, which draws about 30,000 cancer doctors, drug company executives, investors, and journalists. I didn’t attend … Continue reading “ASCO Wrap-Up: The Skinny on Cancer News From All Corners of the U.S.”
Beyond Sakti3: Researchers in Boston, London Explore Electric-Car Battery Technologies
Sakti3 is one of Michigan’s most high-profile startups, whose solid state, lithium ion batteries have won funding from General Motors and Khosla Ventures and plaudits by MIT’s Technology Review. Such technology could revolutionize electric cars by packing more energy into a battery that occupies much less space under the hood than existing batteries. With less … Continue reading “Beyond Sakti3: Researchers in Boston, London Explore Electric-Car Battery Technologies”
Accelerate Michigan Open For Business
Accelerate Michigan Innovation, the state’s top competition for high tech entrepreneurs, is now accepting applications. The contest will award $1 million in cash prizes plus business services to winners in November. Deadline for applications is August 10, for students September 21. To apply, click here.
Beringea Finds Exit For Steak Group
Beringea, a venture capital/private equity firm in Farmington Hills, said it has sold Steak Group to Dentsu for an undisclosed amount. Steak, a digital medial firm, employs 94 people in New York, London, and Melbourne, Australia.
The Quest For Biotech Independence: Maybe It Isn’t So Quixotic After All
Conventional wisdom a couple years ago said that the era of the independent biotech giant was over. Nobody would ever again build a multi-billion dollar, fully integrated independent biopharma company on the scale of an Amgen (NASDAQ: [[ticker:AMGN]]), or even a Gilead Sciences (NASDAQ: [[ticker:GILD]]). Drug development is too risky, time-consuming, and expensive. Investors, tired … Continue reading “The Quest For Biotech Independence: Maybe It Isn’t So Quixotic After All”
Mu Sigma Lands $25,000,000 Series C Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0f99768a-d88d-47d4-b444-38de5290fe6e&Preview=1 Date 6/6/2011 Company Name Mu Sigma Mailing Address 3400 Dundee Rd Northbrook, IL 60062 Company Description Mu Sigma is a knowledge process outsourcing firm that provides high quality analytical decision support services to its clients in a cost effective manner. Website http://www.mu-sigma.com Transaction Type Venture Equity Transaction Amount $25,000,000 Transaction Round … Continue reading “Mu Sigma Lands $25,000,000 Series C Funding Round”
Dear Apple: Go Big with Siri and Nuance in iOS 5
As someone who served on the boards of Siri and Nuance—two companies whose technologies are rumored to be deeply integrated into Apple’s upcoming iOS 5—I might have a unique take on what’s possible at the upcoming Apple World Wide Developer Conference (WWDC ) in San Francisco June 6-10. I throw my speculations into the ring … Continue reading “Dear Apple: Go Big with Siri and Nuance in iOS 5”
Dinner Is On Eric Lefkofsky: Groupon Co-Founder and U-M Alum Pockets $300M+ From Stock Sales, More to Come From IPO
Word of advice to anyone who dines with Eric Lefkofsky: make sure he picks up the bill. Trust me folks, he can afford it. We always assumed the Groupon co-founder and University of Michigan alumnus would make a lot of money from the startup’s inevitable IPO. Sure enough, the online coupon site said Thursday that … Continue reading “Dinner Is On Eric Lefkofsky: Groupon Co-Founder and U-M Alum Pockets $300M+ From Stock Sales, More to Come From IPO”
Silicon Chef: A Half-Baked Guide to Food Startups
[Updated 12/06/12 with additional listings] When the ex-CEO of Pure Digital, maker of the famous Flip pocket camcorder, wins funding from Sequoia Capital to open a chain of grilled cheese sandwich shops, it may be time to abandon your own enterprise-cloud-marketing-analytics-automation venture or your social-mobile-deals-gamification startup and think about getting into the food business. I was … Continue reading “Silicon Chef: A Half-Baked Guide to Food Startups”
So Close They Can Taste It; NanoBio, Investors Eye Potential IPO
Is NanoBio heading towards an IPO? Probably way too early to make that call. But the Ann Arbor, MI-based drug startup and its investors are not exactly discouraging such talk. “I think the company has the potential to be a public company,” says George Arida, a managing director of Venture Investors. “It absolutely has the … Continue reading “So Close They Can Taste It; NanoBio, Investors Eye Potential IPO”
LED Lighting And Video Game Pioneer Peter Hochstein Dies At Age 65
Relume Technologies founder Peter Hochstein, a pioneer in LED outdoor lighting and multi-player video game technology, unexpectedly died of natural causes over Memorial Day weekend. He was 65 years old. Hochstein, who served as Relume’s president, board director, and chief technology officer, passed away at his home in Troy, MI, Relume said in a statement. … Continue reading “LED Lighting And Video Game Pioneer Peter Hochstein Dies At Age 65”
Cleantech Startup Vestaron Raises $445,000 in Series B Financing
Vestaron has raised about $445,000 from the sale of equity, according to SEC documents. Overall, the startup, based in Kalamazoo, MI, is seeking $8 million, the filing says. So far, Vestaron has raised $9 million from investors including Open Prairie Ventures, the Southwest Michigan Life Science Venture Fund, and the Michigan Strategic Fund. These investors … Continue reading “Cleantech Startup Vestaron Raises $445,000 in Series B Financing”
Torax Medical Receives $4,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4c14093f-2f2b-4237-a9b9-3269f4d8e3ce&Preview=1 Date 5/31/2011 Company Name Torax Medical Mailing Address 6901 East Fish Lake Road Maple Grove, MN 55369 Company Description Torax Medical, a clinical-stage medical device company founded in 2002 Website http://www.tm-partners.com Transaction Type Debt Transaction Amount $4,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. Amount may include options, … Continue reading “Torax Medical Receives $4,000,000 New Round”
NextEnergy: First Friday Networking Event
Attend TechTown’s First Friday networking event to hear stories from successful Detroit entrepreneurs who’ve plugged into the green movement, and also get tips from the pros on opportunities for entrepreneurs like you. Featured speakers: Carla Walker-Miller, President and CEO, Walker-Miller Energy Services, LLC. Walker-Miller Energy Services provides traditional as well as renewable and sustainable energy … Continue reading “NextEnergy: First Friday Networking Event”
Ann Arbor New Tech Meetup
Five presenters this month take the stage for ten minutes each, five minutes to demo and five minutes to answer questions, followed by open announcements and community networking. E-mail organizers at a2newtech.org if you’d like to present.
Mobile Monday: Android Software Platform
Speaker: Jon Oberheide, CTO of Duo Security and Walt Capers, Senior Software Architect for Compuware. Jon Oberheide’s presentation will deconstruct Google’s Android mobile platform and its security model, from the base OS, to the Android middleware, up to some case studies using third-party applications. As Android emerges as a leading OS in the mobile market, … Continue reading “Mobile Monday: Android Software Platform”
BioArbor: An Evening With Jeffrey Leiden
Jeffrey Leiden, MD, PhD is a Managing Director of Clarus Ventures, LLC, a life sciences venture capital firm headquartered in Cambridge, MA. Prior to joining Clarus in 2006, Dr. Leiden was President and COO of Abbott Laboratories, Pharmaceuticals Products Group, and a member of the Abbott Board of Directors and the TAP Board of Directors … Continue reading “BioArbor: An Evening With Jeffrey Leiden”
Forget The iPhone. Your Car Is The Ultimate Mobile Device—But How Far Should That Go?
When a car today can parallel park on its own, find the best Mexican restaurant in a 10-block radius, and access e-mail on voice command, I suppose checking your blood sugar would just seem like icing on the cake. (Pun intended) “We are trying to create a car that cares,” says Gary Strumolo, manager of … Continue reading “Forget The iPhone. Your Car Is The Ultimate Mobile Device—But How Far Should That Go?”
Yes, Technology Is Taking Jobs Away, But Here’s How It Might Give Them Back
Back in March, I wrote a column arguing that smartphones, tablet computers, Internet TVs and other personal technologies are delivering an unexpected bonus. Rather than depreciating, the way most equipment does, these gadgets actually get more valuable over time thanks to the hundreds of new apps that debut every week, plus free upgrades for existing … Continue reading “Yes, Technology Is Taking Jobs Away, But Here’s How It Might Give Them Back”
Ann Arbor Spark Pats Its Back
Ann Arbor SPARK says it has attracted 13 new companies to the region and helped 29 businesses to expand in the region last year. The business accelerator also said it helped secure $151 million in new investment commitments and create over 1,400 new jobs.
Staebler To Oversee TechTown
Wayne State University named Ned Staebler as its vice president of economic development. Staebler, a former official with the Michigan Economic Development Corp., will oversee the TechTown research park in Detroit.
Stage 2 Innovations CEO Offers Details On New $100 Million Fund
Simon Boag sounds downright sheepish. “We’re spoiled,” Boag, the new CEO of the $100 million Stage 2 Innovations Fund, told Xconomy. “We realize that. We’re extremely lucky to be in this position.” The fund, announced earlier this week, is targeting growth/expansion startups on the brink of commercializing their technology. An anonymous billionaire is putting up … Continue reading “Stage 2 Innovations CEO Offers Details On New $100 Million Fund”
Ford Lists Top 25 EV Cities, Highlights Pacific Coast Corridor for Future EV Road Trips
With the average price of gasoline reaching almost $4 a gallon nationwide, it’s safe to say a lot of people are curious about the all-electric vehicles (EV) that many automakers have been showing off lately. Still, it’s hard to justify the $100,000-plus sticker price for a Tesla Roadster or the $33,000 price of a Nissan … Continue reading “Ford Lists Top 25 EV Cities, Highlights Pacific Coast Corridor for Future EV Road Trips”
Vestaron Secures $444,999 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=22731f26-a4a8-4bf1-9235-cfbefe35116b&Preview=1 Date 5/26/2011 Company Name Vestaron Mailing Address 4717 Campus Drive Kalamazoo, MI 49008 Company Description Vestaron Corporation is developing a new generation of insecticides by employing peptides sourced from spiders – insecticides that are ideally suited for the environmentally conscious, twenty-first century. Over 50 unique, spider-venom peptides with novel sites of … Continue reading “Vestaron Secures $444,999 New Financing Round”
With Esperion Reboot, Lipitor Co-Discoverer Roger Newton Pushes For Therapy Beyond Drugs
A few years ago, I went to see my doctor for a routine check-up. Blood tests showed I had a high count of low density lipoids (LDL), the so-called “bad cholesterol” that clogs arteries and causes heart attacks. “I’m prescribing you a statin,” the doctor said. I hesitated. “Uh….shouldn’t I try diet and exercise first?” … Continue reading “With Esperion Reboot, Lipitor Co-Discoverer Roger Newton Pushes For Therapy Beyond Drugs”
Show Me The Money! Ex-Chrysler CEO Co-founds New $100 Million Fund For Growth/Expansion Startups
Wow. Now that’s what I’m talking about. Automation Alley, a business accelerator based in Troy, MI that helps nurture local startups, today announced the creation of a $100 million fund to back local companies looking to take their fledgling businesses to a higher level. Chrysler CEO Tom LaSorda co-founded the fund, called Stage 2 Innovations … Continue reading “Show Me The Money! Ex-Chrysler CEO Co-founds New $100 Million Fund For Growth/Expansion Startups”
GM Ventures Growing Up—A Quick Look at How it Operates and How Deals Work
General Motors launched its first venture capital fund—GM Ventures—last summer. We covered the news, and in December, still early in the $100 million fund’s life, I did a Q&A with GM Ventures president Jon Lauckner. At the time, the fund had invested in just two startups—battery maker Sakti3 and Bright Automotive, which offers a new … Continue reading “GM Ventures Growing Up—A Quick Look at How it Operates and How Deals Work”
IPO Pipeline Pumps Up the Volume in First Quarter
A recent study of IPO filings by the Ernst & Young accounting firm shows that 47 companies filed for initial public offerings during the quarter that ended March 31, and a total of 125 companies are waiting to go public on U.S. markets. Of the 125 companies in the pipeline, 25 are based in California, … Continue reading “IPO Pipeline Pumps Up the Volume in First Quarter”
Ann Arbor Spark Names Board
Ann Arbor SPARK named the following community leaders to its board: Ric DeVore, regional president of PNC;Marty Kahn,CEO of ProQuest; Mike Miller, head of Google’s local office;Conan Smith, Washtenaw County commissioner and executive director of Michigan Suburbs Alliance;Thomas Zurbuchen, director of University of Michigan’s Center for Entrepreneurship, and Dr. Susan Martin, president of Eastern Michigan … Continue reading “Ann Arbor Spark Names Board”
How to Make Money in Biotech With No Hope of Going Public, Slim Odds of Getting Acquired
Most biotech entrepreneurs I’ve met have a dream that ends one of two ways. They will either take their company public, or sell their startup to a giant drugmaker. Those are the paths to making money, making venture investors happy, and getting the resources needed to take a new drug all the way to the … Continue reading “How to Make Money in Biotech With No Hope of Going Public, Slim Odds of Getting Acquired”
Get Your Hack On: Detroit Geeks Make Finals of National Hacker Contest in New York
A few weeks ago, I asked tech entrepreneur Dug Song, co-founder of Arbor Networks, what Michigan needs in order to build its own Silicon Valley. He did not hesitate. “Hackers,” Song replied. No, not the kind that breaks into the Pentagon or Federal Reserve and initiates Doomsday. Rather, tech geeks who fiddle with stuff in … Continue reading “Get Your Hack On: Detroit Geeks Make Finals of National Hacker Contest in New York”
Garageband on the iPad Makes Amateur Musicians into Artists
Can you be a composer without being a musician? Thanks to the latest generation of music authoring software, the answer is yes. Take me, for example. I played the trombone in high school, and I can still read music (bass clef anyway), but I would be very hard pressed to strum a guitar chord, keep … Continue reading “Garageband on the iPad Makes Amateur Musicians into Artists”
Ostial Solutions, Targeted Catheter System Maker, Raises $137K
Ostial Solutions has raised $137,530 from the sale of equity, according to SEC documents. The medical device startup, based in Kalamazoo, MI, is seeking about $350,000, the filing says. Founded in 2003, Ostial’s guided catheter technology helps surgeons to precisely position a stent, a device that props open clogged arteries, in patients suffering blockages occurring … Continue reading “Ostial Solutions, Targeted Catheter System Maker, Raises $137K”
Medtronic’s Hawkins and BSX’s Elliott Exit Stage Right As Medical Device Industry Shifts
It’s pretty tough to be a CEO at a major medical device company these days. Just ask Bill Hawkins, who was reportedly pushed out at Medtronic and Ray Elliott, who abruptly left Boston Scientific. I’m not sure if the two men ever knew each other but their departures have a weird type of symmetry. Both … Continue reading “Medtronic’s Hawkins and BSX’s Elliott Exit Stage Right As Medical Device Industry Shifts”