Category: Detroit

Back For More: Renaissance Venture Capital Funding Arboretum Ventures III

The Renaissance Venture Capital Fund is doubling down on Arboretum Ventures. After already committing $5 million to Arboretum II, Renaissance is helping to bankroll Arboretum’s new $125 million fund, its third since 2002, Renaissance CEO Chris Rizik told Xconomy. Arboretum previously pulled together $73 million and $24 million for its first two funds. The Ann … Continue reading “Back For More: Renaissance Venture Capital Funding Arboretum Ventures III”

Palisade Systems Receives $1,982,502 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c75d2cdb-be99-4505-bbc2-0ff51e422bbf&Preview=1 Date 4/19/2011 Company Name Palisade Systems Mailing Address 400 Locust Street Des Moines, IA 50309 Company Description Medical records, financial information, intellectual property and personal information – your data keeps growing at an accelerated rate. Trying to protect this data is paramount to business continuity and success. The loss of sensitive … Continue reading “Palisade Systems Receives $1,982,502 New Financing”

Biotech’s Missed Opportunity: Small-Town and Rural America

The biotech and pharmaceutical industry is full of people who went to the top universities, live in the fanciest neighborhoods, and work for brand-name companies. But this industry needs to start thinking more about millions of people who are mostly an afterthought today. I’m talking about people who live in America’s small cities and rural … Continue reading “Biotech’s Missed Opportunity: Small-Town and Rural America”

Elite Media Worx Garners $1,350,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1ae6a447-a60e-4b94-9e6a-515431c5a6d9&Preview=1 Date 4/18/2011 Company Name Elite Media Worx Mailing Address 316 N. Michigan Ave. Chicago, IL 60601 Company Description We attract valued new and repeat customers who are open to new experiences and will share promotions with their friends and family, all with no risk or up-front investment. We help our partners … Continue reading “Elite Media Worx Garners $1,350,000 New Funding”

Reporter’s Notebook: A Dozen Digital Media Discoveries

Every day, I come across loads of interesting material that I’d love to blog about but can’t because I don’t have the time or the right venue. I usually just stick this stuff into Evernote and tell myself I’ll write about it later. Well, it’s later. In today’s column I want to round up a … Continue reading “Reporter’s Notebook: A Dozen Digital Media Discoveries”

Why Do I Love Drug Regulation? Simple: It Keeps Us Safe

I frequently read comments from pundits and politicians decrying the US drug regulatory system, specifically the FDA. Many of these people, reading from the same PR playbook, will try to convince you that regulation is the primary factor in stifling innovation. But based on history, I am convinced that without adequate government regulation, companies in … Continue reading “Why Do I Love Drug Regulation? Simple: It Keeps Us Safe”

Delphi Showcases WiTricity’s Wireless Electric Vehicle Charging Technology at SAE Conference

Randy Sumner takes the hockey puck- like device and holds it several inches above a pad. The light on the device instantly turns on. “Pretty cool, huh?” says Sumner, Delphi’s director of global hybrid vehicle business development. Very cool. Even cooler was the nearby Think City EV parked over a much larger pad. Electricity wirelessly … Continue reading “Delphi Showcases WiTricity’s Wireless Electric Vehicle Charging Technology at SAE Conference”

Huron River Ventures: Locked, Loaded, and Ready to Invest In Cleantech

The boys are back in town. Fresh from the high finance worlds of Chicago and New York, University of Michigan grads Tim Streit and Ryan Waddington have returned to the state to launch Huron River Ventures (HRV), a $15 million fund aimed squarely at cleantech startups. HRV has so far raised half of the money … Continue reading “Huron River Ventures: Locked, Loaded, and Ready to Invest In Cleantech”

Looking Up: First Quarter Venture Capital Deals & Dollars Rise

Venture capital investments surged during the first three months of 2011, driven mostly by sharply increased funding for Internet and cleantech-renewable energy startups, according to CB Insights, a New York information and data services firm. Venture investors sunk a total of $7.5 billion into 738 deals throughout the country during the first quarter, a 27 … Continue reading “Looking Up: First Quarter Venture Capital Deals & Dollars Rise”

Grab Those Michigan 2031 Tickets While You Can

You know you want to go. So obey those instincts and come out to Xconomy’s Michigan 2031 forum Thursday evening at TechTown in downtown Detroit. Since I’ve arrived in the area three months ago, I’ve seen firsthand the tremendous amount of innovation and initiative circulating in Michigan. What’s now needed is context, a thoughtful discussion … Continue reading “Grab Those Michigan 2031 Tickets While You Can”

Ford, Chasing Nissan and Chevy, Rolling Out Focus EV in San Diego, Other Key Markets

After investing roughly $1 billion to overhaul a Ford F150 truck factory in Wayne, MI, the Ford Motor Co. has begun to introduce a new generation of electric and hybrid electric automobiles in the United States. Ford has targeted San Diego as a key beachhead for the initial commercial rollout of its all-electric car, following … Continue reading “Ford, Chasing Nissan and Chevy, Rolling Out Focus EV in San Diego, Other Key Markets”

Countdown to Michigan 2031: All In On Cleantech

Michigan may have potential in medical devices and software but in the end, the state’s high tech future, for better for worse, is really tied to cleantech. For one thing, it offers the most natural and logical extension of Michigan’s core expertise in automobiles/manufacturing, experts say. Think lithium batteries, electric cars, next generation engines equipped … Continue reading “Countdown to Michigan 2031: All In On Cleantech”

ExactTarget Garners $30,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9e8d803b-04fd-4628-9f42-44f5bbd2f9e1&Preview=1 Date 4/12/2011 Company Name ExactTarget Mailing Address 20 North Meridian Street Indianapolis, IN 46204 Company Description ExactTarget is on a mission. We’re dedicated to providing the most powerful on-demand software for email communications and finding the best and brightest marketers on the planet to revolutionize the way people think about email. … Continue reading “ExactTarget Garners $30,000,000 New Round”

Zencoder Obtains $2,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=62b6fff8-a08f-43ba-ae69-d6c5780b725c&Preview=1 Date 4/12/2011 Company Name Zencoder Mailing Address 2913 Harriet Ave. S. Minneapolis, MN 55408 Company Description The company transcodes videos for media content owners. Website http://www.Zencoder.com Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Undisclosed Proceeds Purposes The company will use the financing to accelerate its growth initiatives. M&A Terms … Continue reading “Zencoder Obtains $2,000,000 New Financing Round”

TED Wants Michigan To Get Crazy

Michigan got a little crazy last week. TEDxUofM didn’t have same star power as the annual conference in California that inspired it. But the message was undeniably similar. “Don’t get scared by the fact that [when] something is tough, crazy ideas are worth working on,” Thomas Zurbuchen, the founding director of University of Michigan’s Center … Continue reading “TED Wants Michigan To Get Crazy”

Open Source Biology Deserves a Shot

Gene sequencing has gotten incredibly fast and cheap, and researchers around the world are pouring huge volumes of genomic data onto their private servers, in the hope they will sift through it all to make groundbreaking discoveries. Should so much genomic data be so closely guarded, or should it be poured into a free and … Continue reading “Open Source Biology Deserves a Shot”

Akebia Therapeutics Receives $11,999,998 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6155420c-f6c1-4069-b919-600d6f9f1c0f&Preview=1 Date 4/11/2011 Company Name Akebia Therapeutics Mailing Address 9987 Carver Rd. Cincinnati, OH 45242 Company Description Akebia Therapeutics is a venture-backed start-up pharmaceutical company with a focus on treatments for ischemia and improvement of vascular disease. Website http://www.akebia.com Transaction Type Venture Equity Transaction Amount $11,999,998 Transaction Round Undisclosed Proceeds Purposes Proceeds … Continue reading “Akebia Therapeutics Receives $11,999,998 New Financing”

Get Your Ticket Now for Michigan 2031 on April 14 and Get a Free Copy of Josh Linkner’s NYT Best Selling Book, Disciplined Dreaming

Here at Xconomy, we know something about the great investor-entrepreneur relationships that are often behind the best companies: not only are we a startup ourselves, we write about the venture capital and startup scene every day—often chronicling the efforts of investors and entrepreneurs needed to weather the storms a company faces before it can be … Continue reading “Get Your Ticket Now for Michigan 2031 on April 14 and Get a Free Copy of Josh Linkner’s NYT Best Selling Book, Disciplined Dreaming”

With iMovie on the iPad 2, Video Editing Is Fun Again

As much as I loved the original Apple iPad, there was one thing about the device that stuck in my craw: the missing cameras. It was an easy guess when the original product debuted 12 months ago that Apple would rectify the omission in a near-future version. What annoyed me was the certainty that at … Continue reading “With iMovie on the iPad 2, Video Editing Is Fun Again”

EcoMotors, With Navistar as a Customer, Pushes Forward With New Engine

It’s been just over five months since I first met with Don Runkle, CEO of EcoMotors International, to discuss the big plan he’s had for his Allen Park, MI-based company’s opposing piston, opposing cylinder (“opoc”) engine. EcoMotors claims that the engine, which weighs less, uses fewer parts and is thus less expensive than traditional four-stroke … Continue reading “EcoMotors, With Navistar as a Customer, Pushes Forward With New Engine”

Forbes Ranks Detroit, Other Xconomy Cities Poorly In Minority Entrepreneurship

Forbes recently ranked the best cities for minority entrepreneurs and perhaps not surprisingly, Detroit finished near the bottom of the list. Despite Detroit’s large African American population, the magazine ranked the Motor City 47th out of 52 metropolitan areas. You can probably blame the usual suspects: lack of venture capital, the loss of population, downsizing … Continue reading “Forbes Ranks Detroit, Other Xconomy Cities Poorly In Minority Entrepreneurship”

One Hand Clapping: Entrepreneurship in Ann Arbor

I spent a few days in March in Ann Arbor Michigan as a guest of Professor Thomas Zurbuchen, Associate Dean for Entrepreneurial Programs, and Doug Neal, Director of Center for Entrepreneurship in the Engineering School at the University of Michigan. I gave a keynote on entrepreneurship to MPowered, the student entrepreneurship organization, spoke on a … Continue reading “One Hand Clapping: Entrepreneurship in Ann Arbor”

Cellular Dynamics International Receives $30,000,000 Series B Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4d33a96e-87e9-4ed2-a412-93108eb1cdb5&Preview=1 Date 4/7/2011 Company Name Cellular Dynamics International Mailing Address 525 Science Drive Madison, WI 53711 Company Description Cellular Dynamics was founded by three world-class scientists in cardiac ion channel models, hES cells, and iPS cells to provide cardiac toxicity drug testing services, including GLP and non-GLP hERG electrophysiological assays as well … Continue reading “Cellular Dynamics International Receives $30,000,000 Series B Funding Round”

Need More Light? Powerleap Would Like You to Step On this Panel

Elizabeth Redmond was a fourth-year design student at the University of Michigan when the idea hit her like…well, like a jolt of electricity. “I was going to find a way to harvest energy from people,” she says. “I was interested in this idea of social responsibility, how do you teach people to take responsibility for … Continue reading “Need More Light? Powerleap Would Like You to Step On this Panel”

If Michigan Were a Stock, I’d Buy a Bunch of Options

Maybe it’s a line they hand out to every Michigander, because I have heard it several times in various configurations. But it’s heartfelt. It’s a message to people around the country complaining about current economic conditions. The gist goes something like this: “You think you had it bad? Michigan’s recession began years ago—and it was … Continue reading “If Michigan Were a Stock, I’d Buy a Bunch of Options”

MyHealthDirect Obtains $4,000,000 Series B Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4862d271-682f-4b46-a293-db40ab323264&Preview=1 Date 4/6/2011 Company Name MyHealthDirect Mailing Address 150 N. Sunnyslope Rd. Brookfield, WI 53005 Company Description MyHealthDIRECT (MHD) provides an innovative browser-based, software solution that connects members and patients to health providers at the most appropriate level of care. MHD supplies the missing gateway that enables managed care organizations, hospitals, HIEs, … Continue reading “MyHealthDirect Obtains $4,000,000 Series B Funding Round”

Expedia To Roll Out New Hotel iPhone App Designed By Mobiata

Ben Kazez needs a place to live. Preferably a warehouse loft he can rent somewhere in Ann Arbor, MI. A quiet place where he can finally grab some ZZZZs. You can forgive Kazez for neglecting his living situation. Since selling his startup Mobiata to online travel giant Expedia (Nasdaq:[[ticker:EXPE]]) last fall, Kazez has been hard … Continue reading “Expedia To Roll Out New Hotel iPhone App Designed By Mobiata”

Beringea Hosts Office Hours

Beringea’s Office Hours Tour provides the Michigan entrepreneurial community open access to venture capitalists for their perspective, feedback and advice. Entrepreneurs of any type, from students with innovative ideas to professionals with established businesses, are invited to meet with Beringea investment professionals in 15 minute time slots at select locations around the state. Please note … Continue reading “Beringea Hosts Office Hours”

Phrixus Pharma Wins NIH Grants

Phrixus Pharmaceuticals of Ann Arbor, MI has won $890,000 in grants from the National Institutes of Health. The University of Michigan spinoff is developing drugs to treat muscular dystrophy and heart failure.

Poggled Lands $5,599,997 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=64795f1d-b76d-4c8d-a433-14887a491b60&Preview=1 Date 4/5/2011 Company Name Poggled Mailing Address 512 N. McClurg Court Chicago, IL 60611 Company Description Poggled sells hugely discounted drink deals and party packages to bars and nightclubs that aren’t available anywhere else, including at the door. Website http://www.poggled.com Transaction Type Venture Equity Transaction Amount $5,599,997 Transaction Round Undisclosed Proceeds … Continue reading “Poggled Lands $5,599,997 New Financing”

Countdown to Michigan 2031: Release The Hackers!

Something is brewing in Southeastern Michigan, and it smells more like innovation than beer. Inside a former brewery in Ann Arbor, MI just northeast of Kerrytown, a group of techies and recent college graduates stare at computer screens, sustained by a copious supply of Diet Coke and fruit juice boxes. There are no leases or … Continue reading “Countdown to Michigan 2031: Release The Hackers!”

Xconomy Expands to New York—the Country’s Hottest Hub of Tech Startups and Entrepreneurship

Every time I visit the Big Apple, a line from Stevie Wonder’s Living for the City flashes in my mind: “New York, just like I pictured it, skyscrapers and everything.” But my mental picture of New York has evolved dramatically in the last few years—not the skyscrapers part, of course, but the “everything” that’s going … Continue reading “Xconomy Expands to New York—the Country’s Hottest Hub of Tech Startups and Entrepreneurship”

Biotechies Need to Get Serious About Antibiotics, Where There is Money to Be Made

There are lots of exceptions to the rules in the biotech business, and a big one jumped out me this past week, related to antibiotics. One day, Reuters ran a story about the overall abysmal state of the world’s pipeline of new antibiotics. Next day, there were reports about how San Diego-based Optimer Pharmaceuticals appears … Continue reading “Biotechies Need to Get Serious About Antibiotics, Where There is Money to Be Made”

Midwest Lean Startup Conference

The Michigan Lean Startup Conference is an event designed to unite those interested in what it takes to succeed in building a lean startup. The day long event will give startups, aspiring entrepreneurs, technology professionals, investors, educators and entrepreneurial stakeholders the opportunity to hear insights from national leaders in the lean startup movement. You will … Continue reading “Midwest Lean Startup Conference”

FutureMidwest Conference

FutureMidwest is the Midwest’s largest digital business conference. Initiated in 2009, the two-day conference is designed for executive management and decision makers from corporate, small and midsized businesses, entrepreneurs, brand managers, marketing, communication professionals, students and professionals in the digital/technology spheres, offering advice on implementing digital strategies to engage their audiences and boost the profitability … Continue reading “FutureMidwest Conference”

Revitalizing Innovation in Michigan for Clean Energy Manufacturing

Continuous innovation in manufacturing is essential for maintaining US economic leadership in an intensively competitive global market. Innovations in the production of advanced batteries, motors, controllers, lighting devices, wind machines, photovoltaic modules, and other clean energy products is critical to meeting US energy and environmental goals. A two-day workshop bringing leaders and student to campus … Continue reading “Revitalizing Innovation in Michigan for Clean Energy Manufacturing”

Revitalizing Innovation in Michigan for Clean Energy Manufacturing

Continuous innovation in manufacturing is essential for maintaining US economic leadership in an intensively competitive global market. Innovations in the production of advanced batteries, motors, controllers, lighting devices, wind machines, photovoltaic modules, and other clean energy products is critical to meeting US energy and environmental goals. A two-day workshop bringing leaders and student to campus … Continue reading “Revitalizing Innovation in Michigan for Clean Energy Manufacturing”

D-Movement Conference

When most people think of Detroit, they visualize all the negative connotations frequently associated with it. The D-Movement, however, believes that Detroit is a jewel in the making and wants to play a role in the city’s economic and cultural comeback. During this event you’ll hear speakers representing various Detroit-based groups, enjoy entertainment by The … Continue reading “D-Movement Conference”

English Majors Can Do More Than Teach. U-M Liberal Arts Students Push For Entrepreneurial Classes

Rebecca Weisz was looking forward to studying entrepreneurship at the University of Michigan. A freshman in the College of Literature, Science, and the Arts (LSA), she was hoping to apply what she learned from her communication studies to running the custom-made accessories business she launched earlier in the school year. To her dismay, Weisz learned … Continue reading “English Majors Can Do More Than Teach. U-M Liberal Arts Students Push For Entrepreneurial Classes”

Gmail Fail: The Problem with Priority Inbox

I was not one the pundits who heaped immediate praise on Priority Inbox, an e-mail management feature that Google added as an option in Gmail last August. TechCrunch instantly labeled it “fantastic,” TheNextWeb called it “outstanding,” and Venturebeat said it “lives up to the hype.” I was hopeful about it, but cautious. Having been burned … Continue reading “Gmail Fail: The Problem with Priority Inbox”

DVP Ready To Rock N’ Roll. Will Others Follow?

Detroit Venture Partners (DVP), the much-hyped tech fund launched by Quicken Loans founder/Cleveland Cavaliers owner Dan Gilbert, will soon debut its inaugural class of homegrown startups. DVP currently has six term sheets out and expects to make an announcement on its first investments in 30 days, says CEO and managing partner Josh Linkner. The fund … Continue reading “DVP Ready To Rock N’ Roll. Will Others Follow?”

Accuri Exit Showers Michigan With A Lot Of Love

The more you look at Becton, Dickinson & Co.’s (NYSE:[[ticker:BDX]]) recently completed acquisition of Accuri Cytometers in Ann Arbor, MI, the more there is to like. Even savor. BD did not disclose financial terms, which is a little annoying since the medical device and equipment maker, based in Franklin Lakes, NJ, had no problem telling … Continue reading “Accuri Exit Showers Michigan With A Lot Of Love”

Silicon Valley Veteran To Lead Ann Arbor SPARK

Ann Arbor is getting a fresh infusion of Silicon Valley. Ann Arbor SPARK, one of four business accelerators in Southeast Michigan, said Tuesday that it named Paul Krutko president and CEO. Krutko, previously the chief development officer for San Jose, CA., will replace Mike Finney, who’s now CEO of the Michigan Economic Development Corp. Krutko … Continue reading “Silicon Valley Veteran To Lead Ann Arbor SPARK”

University Officials: Budget Cuts Won’t Hurt Campus Entrepreneurship

Universities and colleges across Michigan may be scrambling to reduce costs as state officials weigh deep budget cuts to higher education. But programs that encourage entrepreneurship and innovation will likely be spared, school officials say. The programs are well-established and often funded by outside sources and therefore won’t be directly affected by the state funding … Continue reading “University Officials: Budget Cuts Won’t Hurt Campus Entrepreneurship”