Lycera has taken a significant step forward in commercializing an oral drug to treat autoimmune disorders. The Plymouth, MI-based pharmaceutical startup, a spinoff from the University of Michigan, recently released results from a study that suggested its compound can selectively silence diseased white blood cells while leaving healthy ones intact. The results were published in … Continue reading “Lycera Plows Ahead With Drugs To Treat Autoimmune Disorders”
Category: Detroit
Xconomy Forum: Michigan 2031
What will the Michigan innovation, life sciences, clean energy, transportation, and information technology landscape look like 20 years from now? Will the area have emerged as an even bigger player in university and corporate research, or a major factor at all in areas like venture financing and entrepreneurial activity-and, if so, in what fields? We’re … Continue reading “Xconomy Forum: Michigan 2031”
U-M awards cash to student startups
The University of Michigan’s Samuel Zell and Robert H. Lurie Institute of Entrepreneurial Studies awarded over $100,000 to student startups yesterday as part of its Michigan Business Challenge competition. One of the award recipients, MEMStim, is hoping to improve the field of neurostimulation by making MEMS electrode leads for medical device companies.
Get Set for Michigan 2031: Xconomy’s First Detroit Event to Examine State’s Innovation Landscape 20 Years Ahead
Michigan may be many things, but lazy isn’t one of them. A prominent investor told me the other week that the state boasts an incredible work ethic, one that rivals the frenetic pace of Silicon Valley. Given the automobile industry’s long decline, the state has made several bets on its economic future: clean energy and … Continue reading “Get Set for Michigan 2031: Xconomy’s First Detroit Event to Examine State’s Innovation Landscape 20 Years Ahead”
Media Chaperone Receives $1,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a7132d80-3d4d-48df-986f-4825d9755a92&Preview=1 Date 2/24/2011 Company Name Media Chaperone Mailing Address 722 W. Buckingham Pl. Chicago, IL 60657 Company Description The company develops parent-friendly applications to manage their children’s Internet use. Website http://www.mediachaperone.com Transaction Type Venture Equity Transaction Amount $1,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor … Continue reading “Media Chaperone Receives $1,000,000 New Funding”
Open Mile Lands $6,000,000 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e572a38c-c3c5-44df-a301-876cc2fec54f&Preview=1 Date 2/24/2011 Company Name Open Mile Mailing Address 325 W. Huron St. Chicago, IL 60654 Company Description Our business utilizes the best aspects of web and mobile technology to empower shippers and carriers to interact, collect market intelligence and match demand with capacity all in real-time. Website http://www.openmile.com Transaction Type Venture … Continue reading “Open Mile Lands $6,000,000 Series B Funding Round”
USPTO launches hiring hotline
The United States Patent and Trademark Office says applicants interested in the 100 job openings at its new regional office in Detroit can e-mail [email protected] for more information. The office will officially open this year.
Help Wanted in Michigan: Immigrants Need Apply
Following a speech last week, six students approached Thomas Zurbuchen, associate dean of entrepreneurial programs at the University of Michigan, to ask him a few follow up questions Of that six, four were foreign nationals, a ratio that is typical of entrepreneurship related classes, he says. But Zurbuchen, an American citizen originally from Switzerland, these … Continue reading “Help Wanted in Michigan: Immigrants Need Apply”
U-M Research to Receive More IP Cash
Thanks to a recent decision by University of Michigan officials, services that support entrepreneurs and researchers will reap more benefits from U-M owned intellectual property. The Office of the Vice President Research will receive about $2 million in IP revenue. Last year, the school generated about $40 million in royalties.
Sprout Social Obtains $10,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=daf41263-f7bf-4726-95ae-027723e87809&Preview=1 Date 2/23/2011 Company Name Sprout Social Mailing Address Undisclosed Chicago, IL 60601 Company Description The company provides social relationship management tracking and services. Website http://www.sproutsocial.com Transaction Type Venture Equity Transaction Amount $10,000,000 Transaction Round Series B Proceeds Purposes The company will use them the capital influx to increase head count for … Continue reading “Sprout Social Obtains $10,000,000 Series B Financing Round”
Resonant Ventures Bets on Wind Power Startup Accio Energy
Resonant Venture Partners in Ann Arbor, MI, said it has invested an undisclosed amount in Accio Energy, a startup developing a new way to generate electricity from wind. The startup, which is also based in Ann Arbor, is “developing a novel…wind energy generation technology to deliver clean, sustainable energy to people around the globe,” Resonant … Continue reading “Resonant Ventures Bets on Wind Power Startup Accio Energy”
A Focus on Energy Efficiency Will Help Keep The U.S. Competitive, and Other Cleantech Industry Predictions for 2011
Foreign competition is rising, and U.S. consumers haven’t departed from their penny-pinching mentality of The Great Recession, and behind this double whammy the cleantech industry is feeling the squeeze. That’s one of the big impressions I came away with after polling a crop of cleantech experts from Xconomy’s network of advisors and op-ed contributors for … Continue reading “A Focus on Energy Efficiency Will Help Keep The U.S. Competitive, and Other Cleantech Industry Predictions for 2011”
Seven Questions That Will Decide Mobile’s Future—Part One
I always smile to think that we launched Xconomy on June 27, 2007, just two days before the original iPhone hit Apple stores in the U.S. That was a transformative moment in consumer information technology—as important as the launch of the Macintosh in 1984, Windows 3.0 in 1990, or Netscape in 1995. Thanks to Apple, … Continue reading “Seven Questions That Will Decide Mobile’s Future—Part One”
“Your Move, Creep.” Detroit Should Embrace Its Inner RoboCop
When I first saw RoboCop in 1987, I nearly puked. In other words, the movie was AWESOME. Such logic should be expected from a nine-year-old boy witnessing his first R-rated movie, an ultra-violent spectacle that spewed blood and bodies across the crime ridden streets of Detroit. (My older sister, who accompanied me, was just plain … Continue reading ““Your Move, Creep.” Detroit Should Embrace Its Inner RoboCop”
EPAY Systems Obtains $1,018,200 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8742cca4-c9ca-4aa6-b7eb-365ecf105464&Preview=1 Date 2/18/2011 Company Name EPAY Systems Mailing Address 8430 W. Bryn Mawr Avenue Chicago, IL 60631 Company Description Develops and deploys punch to pay solutions for time clock pay systems. Website http://www.epaysystems.com Transaction Type Venture Equity Transaction Amount $1,018,200 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. SEC regulatory … Continue reading “EPAY Systems Obtains $1,018,200 New Financing Round”
Snyder’s First Michigan Budget: One (Tax) Rate to Rule Them All
[Corrected 2/18/10, 10:04 am.] When Rick Snyder emerged victorious in last year’s gubernatorial election, Michigan’s entrepreneurial community buzzed with excitement. Snyder, a former corporate executive and venture capitalist based in Ann Arbor, MI, had the business smarts to revitalize the state’s sluggish economy, supporters said. The first test of Snyder’s leadership would be crafting a … Continue reading “Snyder’s First Michigan Budget: One (Tax) Rate to Rule Them All”
Want to Create More Startups? Do More to Corral Health Insurance Costs
Starting a business has always been a risky financial undertaking. With the huge rise in health insurance costs over the last decade, I’m increasingly worried we have created an enormous new obstacle that discourages and slows down the growth trajectory of new businesses. This post is not about rehashing the debates over the federal healthcare … Continue reading “Want to Create More Startups? Do More to Corral Health Insurance Costs”
Michigan’s Angel Investment Tax Credit: Take Two
Let’s do this again. This week, Michigan rolled out Angel 2.0, a three-year, $27 million effort to encourage wealthy individuals to fund promising high startups in the state. “This is a huge deal,” says Paul Brown, vice president of capital markets for the Michigan Economic Development Corp. who’s supervising the program. “Angels had been advocating … Continue reading “Michigan’s Angel Investment Tax Credit: Take Two”
Driving Value in Your MedTech Company: Successful Growth Strategies in a Competitive Environment
Is your company poised to lead, follow or get run over? Take a step back from day-to-day operations and critically examine your strategic positioning. Topics covered will include market, innovation and operational- led growth; M&A as a strategy, strategic and corporate planning & implementation, and bioscience case studies. This session will be led by experts … Continue reading “Driving Value in Your MedTech Company: Successful Growth Strategies in a Competitive Environment”
Accuri Generates Windfall for Plymouth Ventures, But Not University of Michigan
Plymouth Ventures Partners stands to cash out big from Becton, Dickinson’s (NYSE:[[ticker:BDX]]) pending acquisition of Accuri Cytometers in Ann Arbor, MI. But the University of Michigan, where the technology originated? Uh…not so much. Plymouth was one of Accuri’s first investors when the company spun out of the university in 2005, providing around $2 million in … Continue reading “Accuri Generates Windfall for Plymouth Ventures, But Not University of Michigan”
U-M adds more tenants to Venture Accelerator
The University of Michigan has officially inked deals to house two more startups at its Venture Accelerator in Ann Arbor, MI. Engxt and Civionics will join inaugural tenant Life Magnetics at the former Pfizer research and development center located at the school’s North Campus Research Complex. Two additional firms, 3D Biomatrix and Phraxis Pharmaceuticals, are … Continue reading “U-M adds more tenants to Venture Accelerator”
In Southeast Michigan, Keeping Young Talent in the State a Constant Challenge
If Ashley Hartmann had her way, the junior at the University of Michigan would leave the state after getting her degree. “The job opportunities are horrendous in comparison to the rest of the nation,” Hartmann, a chemistry major, said at the MPowered Entrepreneurship career fair in the school’s student union last week. Michigan has struggled … Continue reading “In Southeast Michigan, Keeping Young Talent in the State a Constant Challenge”
mPay Gateway Secures $716,299 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=52079953-6bbf-4d53-80d8-7a8c3bd8b9f8&Preview=1 Date 2/14/2011 Company Name mPay Gateway Mailing Address 212 3rd Avenue North Minneapolis, MN 55401 Company Description Introducing simple web based software that automatically estimates your patient’s responsibility for an encounter and allows you to start collecting that money from the patient before they leave your office. You don’t have to … Continue reading “mPay Gateway Secures $716,299 New Financing”
Ann Arbor New Tech Meetup
Four 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. Presenters include: Hannah Gornik, FoodCircles – social food deals (from UM Startup Weekend) Barry McDonald, Event-Intel – online events registration & tracking Trevor Fitzgerald, PressTags – blog … Continue reading “Ann Arbor New Tech Meetup”
New Tax Laws You Need to Know
This seminar will cover new tax credits for hiring employees, new tax credits for health insurance, and increases in the tax rates. Speaker(s): Aaron Sal, Hungerford Aldrin Nichols and Carter. Registration fee: $45. Click here for more information.
CFO Roundtable- Ann Arbor Spark
The CFO Roundtable will explore the importance of having a good banking relationship, what banks are looking for in customers and how banks compete for your business. Within the current financial environment, two local bankers will present on how to get financing for your business, including SBA loans, and the steps for establishing a line … Continue reading “CFO Roundtable- Ann Arbor Spark”
Cartoon Raccoons Lampoon Startup Life
I was too busy to write a regular column this week. Or maybe I’ve simply run out of weighty things to say about mobile gadgets, digital media, the future of journalism, and the like. In any case, I thought I’d entertain you instead with a few of my favorite startup cartoons. These animated shorts all … Continue reading “Cartoon Raccoons Lampoon Startup Life”
How About a Little Air Bag Chat? Ford Seeks to Make Cars That Talk to Each Other
Drivers today like to gab and text on their phones while they are on the move. So I guess it makes sense that their cars should also talk to one another. But unlike distracted drivers, Ford hopes vehicle-to-vehicle communication will prevent accidents, not cause them. Ford, based in Dearborn, MI, is accelerating research into “intelligent” … Continue reading “How About a Little Air Bag Chat? Ford Seeks to Make Cars That Talk to Each Other”
Inveni Obtains $408,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b97c68fa-2e81-4302-81f3-ad8f0bd0f4b9&Preview=1 Date 2/11/2011 Company Name Inveni Mailing Address 13911 Ridgedale Dr. Minnetonka, MN 55305 Company Description The company provides a free web service that provides movie and TV recommendations based on a user’s tastes. Website http://www.inveni.com Transaction Type Venture Equity Transaction Amount $408,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not … Continue reading “Inveni Obtains $408,000 New Round”
Kauffman Labs Inaugural Incubator Program Brings In Education-Focused Entrepreneurs from Massachusetts, Michigan, and Bay Area
Surprise: we’re writing about an incubator. (OK, it might not come as a surprise. There’s been no shortage of news surrounding programs designed to create and accelerate tech startups across the nation, as my colleague Greg recently noted.) The Education Ventures Program, which will kick off later this month, is a bit different, though. It’s … Continue reading “Kauffman Labs Inaugural Incubator Program Brings In Education-Focused Entrepreneurs from Massachusetts, Michigan, and Bay Area”
Abe’s Market Receives $3,400,000 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8d7bad10-cde6-43d5-8ea0-7950916d3028&Preview=1 Date 2/10/2011 Company Name Abe’s Market Mailing Address 424 Lamont Ter. Buffalo Grove, IL 60089 Company Description The company operates an online marketplace for natural products. Website http://www.abesmarket.com Transaction Type Venture Equity Transaction Amount $3,400,000 Transaction Round Series A Proceeds Purposes This round of funding will allow us to connect even … Continue reading “Abe’s Market Receives $3,400,000 Series A Financing Round”
Groupon Garners New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=39b2ac1d-6ad9-4fed-a13e-25bdf0f97166&Preview=1 Date 2/10/2011 Company Name Groupon Mailing Address 600 W Chicago Ave Chicago, IL 60654 Company Description Launched in November 2008, Groupon features a daily deal on the best stuff to do, see, eat, and buy in a variety of cities across the United States. We have about 40 wonderful people working … Continue reading “Groupon Garners New Round”
Arboretum Ventures in Ann Arbor Seeks Greener Pastures With New $125M Fund
Arboretum Ventures is gonna need a bigger garden. The early stage investment firm, based in Ann Arbor, MI, plans to raise a new $125 million fund, its third in so many years, according to SEC documents. The company previously pulled together $73 million and $24 million for its first two funds. Arboretum, which specializes in … Continue reading “Arboretum Ventures in Ann Arbor Seeks Greener Pastures With New $125M Fund”
Ann Arbor redux: Becton Dickinson and Co. buys medtech startup Accuri Cytometers
Treja-vu! Becton, Dickinson and Company (NYSE:[[ticker:BDX]]) announced Monday it will acquire Accuri Cytometers in Ann Arbor, MI, for an undisclosed amount. Accuri, which makes devices that can count cells and chromosomes, is led by Jeff Williams and backed by Arborteum Ventures in Ann Arbor. If this trio sounds familiar, it should. HandyLabs, another Ann Arbor-bred … Continue reading “Ann Arbor redux: Becton Dickinson and Co. buys medtech startup Accuri Cytometers”
Ernst & Young Says IPOs Continue to Gain Steam in 2011
The IPO pipeline, which slowed to a trickle in 2008 (when just six companies went public), rebounded significantly during the last three months of 2010, as 57 companies went public and 56 others registered for IPOs, according to a report from the Ernst & Young accounting firm. The rate of replenishment represents a healthy balance … Continue reading “Ernst & Young Says IPOs Continue to Gain Steam in 2011”
Becton, Dickinson Company Acquires Accuri Cytometers for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=02933bf3-8e63-4767-a81c-82562a44ca38&Preview=1 Date 2/8/2011 Company Name Accuri Cytometers Mailing Address 173 Parkland Plaza Ann Arbor, MI 48103 Company Description Accuri Cytometers Inc. is an Ann-Arbor based life sciences company developing revolutionary high performance cell analysis systems designed to bring the power of flow cytometry into the labs of life sciences researchers everywhere. Reflecting … Continue reading “Becton, Dickinson Company Acquires Accuri Cytometers for Undisclosed Sum”
MC3, With Six Spinout Companies, Navigates Challenging Terrain of Medical Device Incubators
Medical device incubators are like low-carb donuts. They sound like a good idea on paper, but no one has really been able to create a successful one. Scott Merz is certainly trying. Since 2000, MC3 in Ann Arbor, MI, the accelerator Merz co-founded and currently leads, has spun off six companies, all of them still … Continue reading “MC3, With Six Spinout Companies, Navigates Challenging Terrain of Medical Device Incubators”
Tablet Journalism: Can Rupert Murdoch’s iPad Adventure Save the News Business?
Sorry for the sensational headline. I couldn’t help myself. Talking about the future of journalism just gets me fired up, I guess. Anyway, the answer, of course, is no. Rupert Murdoch’s new initiative, called The Daily, can’t save journalism in an Internet era when advertising rates have declined and everyone wants to get their content … Continue reading “Tablet Journalism: Can Rupert Murdoch’s iPad Adventure Save the News Business?”
Endocyte Receives $75,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=958d0136-34a8-425b-8f57-15dc2c65b8c1&Preview=1 Date 2/4/2011 Company Name Endocyte Mailing Address 3000 Kent Avenue West Lafayette, IN 47906 Company Description Endocyte, Inc, (NASDAQ: ECYT) located in West Lafayette, Indiana, is developing a new generation of receptor-targeted therapeutics or smart drugs for the treatment of cancer and autoimmune diseases. Website http://www.endocyte.com Transaction Type IPO Transaction Amount … Continue reading “Endocyte Receives $75,000,000 New Funding”
HoneyApps Receives $1,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=85451ba6-8cee-45f6-8b3a-9abeeb7d0a65&Preview=1 Date 2/4/2011 Company Name HoneyApps Mailing Address 200 S. Wacker Dr. 15 Floor Chicago, IL 60606 Company Description Centralize your organization’s vulnerability data across applications, networks, servers, and databases. Conduit’s correlation engine tracks each vulnerability throughout its lifecycle, whether it is identified by an automated scanner, manual testing, or a third … Continue reading “HoneyApps Receives $1,000,000 New Financing”
Jeff Bocan is Not Crazy: Beringea’s Ex-Californian Seeks Gold Rush in Michigan
More than a few people thought Jeff Bocan was crazy when he left the sunny beaches of San Monica, CA two years ago for the snow-clogged driveways of Ann Arbor, MI. Beringea, the Detroit-based private equity and venture capital firm, wanted Bocan to move to Michigan to help find and finance promising local startups. Bocan … Continue reading “Jeff Bocan is Not Crazy: Beringea’s Ex-Californian Seeks Gold Rush in Michigan”
MSU Spinoff Wants to Zap Battlefield Explosives with Smart Lasers
Improvised explosive devices (IED) have been the scourge of the U.S. military in war zones like Iraq and Afghanistan. The Pentagon has spent billions of dollars on high tech tools in order to defeat such frustratingly low tech weapons. East Lansing, MI-based BioPhotonic Solutions wants to add one more tool to the kit. The startup’s … Continue reading “MSU Spinoff Wants to Zap Battlefield Explosives with Smart Lasers”
Appolicious Garners $500,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a6220f7a-ad55-4396-882c-443a0ac14e30&Preview=1 Date 2/2/2011 Company Name Appolicious Mailing Address 225 West Washington Ave. Chicago, IL 60606 Company Description Appolicious Inc. was founded in 2009 with the goal of making it easy for you to find mobile applications you’ll use and love. We’ve combined social networking, journalism and technology to help you discover the … Continue reading “Appolicious Garners $500,000 New Funding Round”
White House Startup Investment Coincides with Sweeping Changes for TechStars, Y Combinator, Other Incubators: A Road to Recovery, or Another Bubble?
It’s been an unforgettable seven days for tech entrepreneurs—as if somebody poured startup juice into the nation’s water supply. First President Obama dedicates a good chunk of his State of the Union address to the virtues of high-tech innovation and entrepreneurship. Then Russian investor Yuri Milner and Silicon Valley super-angel Ron Conway pair up to … Continue reading “White House Startup Investment Coincides with Sweeping Changes for TechStars, Y Combinator, Other Incubators: A Road to Recovery, or Another Bubble?”
Startup America Starts Up—-Thoughts from the White House Kickoff
Yesterday the Kauffman Foundation and the Case Foundation helped to launch a new initiative called the Startup America Partnership. The idea emanated from the White House early in 2010 and has been germinating since that time. As many Xconomy readers are aware, the Kauffman Foundation has seeded programs to support entrepreneurs, entrepreneur education, and research … Continue reading “Startup America Starts Up—-Thoughts from the White House Kickoff”
For Civionics Co-Founders, Southeast Michigan an Accessible Base to Launch Wireless Sensor Company
Jerry Lynch, co-founder and executive vice president of Civionics, has experience navigating high-tech entrepreneurial ecosystems. And his experience has taught him that southeast Michigan is a premier place to grow a fledging company. Lynch’s Ann Arbor-based company makes wireless sensors that can monitor everything from the structural stability of a bridge to the energy consumption … Continue reading “For Civionics Co-Founders, Southeast Michigan an Accessible Base to Launch Wireless Sensor Company”
Encouraging Women in Industry to Apply for Faculty Jobs
Over the years, I noticed that we’d hired some terrific faculty at the University of Washington who came directly from industry. These faculty members have quickly gotten up to speed, and they’ve loved their new academic careers. It occurred to me that this would be a great way to get more women faculty in science, … Continue reading “Encouraging Women in Industry to Apply for Faculty Jobs”
Uncle Sam Hearts Drugs, Not Devices. Why?
WTF! You can forgive medical device investors and CEOs if they’ve uttered that not-so-family-friendly acronym during the last year or so. First, the Food and Drug Administration signals it will likely tighten restrictions on the popular 510(k) regulatory program, which allows device makers to quickly develop new products that are slightly better or different than … Continue reading “Uncle Sam Hearts Drugs, Not Devices. Why?”
How the Challenger Disaster Changed My Life
The space shuttle Challenger exploded shortly after liftoff on January 28, 1986—twenty-five years ago today. The disaster took the lives of six astronauts and one schoolteacher, and shook NASA to its core. Like other televised national traumas, it burned itself into the memories of millions of people. I was just a spectator to the catastrophe, … Continue reading “How the Challenger Disaster Changed My Life”
Merck, Staring at a Biotech Future, Seeks to Get in the Game With New Protein Drugs, Biosimilars
Biotech drugs will soon dominate the pharmaceutical industry, according to analyst estimates of what are projected to be the world’s top 10 selling therapies in 2014. Eight of these brands on this list are products of genetic engineering, while only two are traditional oral pills made through chemical synthesis. One other thing jumps out. Not … Continue reading “Merck, Staring at a Biotech Future, Seeks to Get in the Game With New Protein Drugs, Biosimilars”