Somewhere deep in Ford Motor’s institutional memory, it recalls a time before the strictly tiered, hierarchical business of making automobiles, when Detroit was a city of tinkerers, of makers, of individuals with dreams, talent, and a blowtorch. Today, harkening back to that legacy, Ford is announcing it is getting together with TechShop—a Menlo Park, CA-based … Continue reading “Silicon Valley’s TechShop to Open Ford-Affiliated Workshop for Detroit’s Next Generation of Inventors”
Category: Detroit
California Startup Carmakers, Aptera and Zap, Finalists in Automotive X Prize
And then there were nine. What began in April as a field of 136 experimental cars and 111 teams with their eyes on the $10 million Automotive X Prize has been winnowed to just nine cars and seven teams. Track testing was completed Tuesday at the Michigan International Speedway in Brooklyn, MI. The nine finalists … Continue reading “California Startup Carmakers, Aptera and Zap, Finalists in Automotive X Prize”
Maker Faire Taps Into Detroit’s Sense of Mission, History as City of Tinkerers and, Yes, Entrepreneurs
The spark of innovation can often be found in outrage—outrage that the world, or some part of it, does not yet contain something that has yet to be invented or brought to it. And James Peyer, University of Michigan stem cell biology Ph.D. student, part-time do-it-yourself entrepreneur, and participant in this weekend’s Detroit Maker Faire, … Continue reading “Maker Faire Taps Into Detroit’s Sense of Mission, History as City of Tinkerers and, Yes, Entrepreneurs”
Protecting Consumers From Their Own Genetic Data Will Come at a Cost
Last week’s U.S. House Energy and Commerce Committee hearing into the direct-to-consumer (DTC) genetic testing industry was a vicious affair, with more than a whiff of the show trial about it. Representatives from testing companies 23andMe, Navigenics and Pathway Genomics faced a barrage of questions about the accuracy and utility of their tests, made all … Continue reading “Protecting Consumers From Their Own Genetic Data Will Come at a Cost”
Qualcomm’s Technology Inside Ecotality’s Electric Vehicle Chargers
At the Xconomy Smart Energy Forum in San Diego just a couple of months ago, Qualcomm’s Manuel Jaime emphasized that 100-percent electric vehicles (EVs) like the Nissan Leaf will need to be integrated with EV charging stations—and the charging stations have to be integrated with a local power grid. Once they’re integrated, Jaime explained, EV … Continue reading “Qualcomm’s Technology Inside Ecotality’s Electric Vehicle Chargers”
Versus Technology Doesn’t Need to Develop RFID in Northern Michigan, But Wouldn’t Dream of Doing it Anywhere Else
Versus Technology is located at the base of the pinky on Michigan’s mitten, where Lake Michigan laps its tongue into the shining waters of the Grand Traverse Bay. Versus develops products that track patients, staff, and equipment for hospitals across the country, so it does not really need to be at this inconveniently located corner … Continue reading “Versus Technology Doesn’t Need to Develop RFID in Northern Michigan, But Wouldn’t Dream of Doing it Anywhere Else”
Great Lakes Pharmaceuticals Garners $3,100,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d3372f25-f88e-440b-9135-ef1d3beb7a83&Preview=1 Date 7/27/2010 Company Name Great Lakes Pharmaceuticals Mailing Address 2000 Auburn Dr. Beachwood, OH 44122 Company Description Great Lakes is a clinical-stage company focused on eliminating microbial infections associated with biofilm formation. Website http://www.glpharma.com Transaction Type Venture Equity Transaction Amount $3,100,000 Transaction Round Series B Proceeds Purposes The Company intends to … Continue reading “Great Lakes Pharmaceuticals Garners $3,100,000 Series B Financing”
Life Magnetics Attracts Investment
Arboretum Ventures, an Ann Arbor, MI, VC firm that invests in early-stage companies, today announced (PDF) completion of Series A preferred stock financing with Life Magnetics, a University of Michigan spinout developing a desktop in vitro diagnostic device and disposable cartridge assay for rapidly testing bacterial infections. The investment amount was not announced. The device … Continue reading “Life Magnetics Attracts Investment”
Ann Arbor’s Cerenis Therapeutics Gets $51.7M to Develop Drug for Cardiovascular Disease
Cerenis Therapeutics, a biopharmaceutical company based in Ann Arbor, MI, and Toulouse, France, has just received $51.7 million to continue stalking a killer. The criminal in question is atherosclerotic cardiovascular disease, and it’s the number-one cause of death in the developed world. Cerenis’ promising new weapon in the fight is a drug called CER-001, which … Continue reading “Ann Arbor’s Cerenis Therapeutics Gets $51.7M to Develop Drug for Cardiovascular Disease”
Biotech on a Shoestring? There’s a Better Way
A recent Xconomy article “Biotech on a Shoestring” reflects an industry landscape change where, “the era of free-spending is supposedly out, and austerity is the watchword.” An emphasis on a heightened form of frugality can certainly save dollars but can also create uncertainty and anxiety amongst the rank and file. The inevitable next question arises … Continue reading “Biotech on a Shoestring? There’s a Better Way”
Flipboard, Off to a Shaky Start, Could Still Grow Into One of Tablet Computing’s Killer Apps
[Updated, see page 2] Say a reviewer goes to a performance of the latest Broadway extravaganza, and the elaborate stage machinery breaks down before the show even starts, forcing everyone to go home. This actually happened to me once, at a showing of Sunset Boulevard in New York. It probably wouldn’t be fair for the … Continue reading “Flipboard, Off to a Shaky Start, Could Still Grow Into One of Tablet Computing’s Killer Apps”
Detroit’s Livio Radio Tunes in to NPR, Pandora, and a Passion for Pleasing Customers
At the close of 2007, Jake Sigal had a choice to make. He was a product manager at automotive supplier Delphi’s consumer electronics group, which manufactured XM Satellite Radio portable players. Then XM and Sirius Satellite Radio announced a merger and Sigal “saw the writing on the wall.” “I always wanted to start a business,” … Continue reading “Detroit’s Livio Radio Tunes in to NPR, Pandora, and a Passion for Pleasing Customers”
Michigan’s Research Universities Say They’re Creating New, High-Tech Manufacturing Jobs
Despite rumors to the contrary, manufacturing is not dead in Michigan. It’s just not solely in automotive anymore. That is among the conclusions reached in an 87-page report released today by the University Research Corridor, a partnership launched four years ago by the state’s three major research universities. The report says that more than 381,000 … Continue reading “Michigan’s Research Universities Say They’re Creating New, High-Tech Manufacturing Jobs”
Help Increase Transparency in Private Company Executive Compensation
A decade ago, investors and chief executive officers were largely flying blind when it came to compensation in early-stage, privately held companies. They had little more than anecdotal information and their gut to judge how much it would take to land a new head of sales or whether it was worthwhile to retain a chief … Continue reading “Help Increase Transparency in Private Company Executive Compensation”
Interactions Obtains $6,300,000 Series D Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=33581aa5-4de9-4858-a034-3d77c3e97d51&Preview=1 Date 7/21/2010 Company Name Interactions Mailing Address 14390 Clay Terrace Boulevard Carmel, IN 46032 Company Description Interactions, Inc. is a service provider delivering a unique solution to the call center market that decreases support costs while dramatically improving the customer experience. World Class Personal Service at Breakthrough Economics. Website http://web.interactions.net Transaction … Continue reading “Interactions Obtains $6,300,000 Series D Funding”
iNetworksMichigan To Bring Detroit $10M, Plus Lessons Learned From Pittsburgh’s Economic Revival
When Charlie Schliebs looks at Detroit today, he sees his hometown of Pittsburgh about 30 years ago, when the steel industry collapsed. Then, Carnegie-Mellon University and the University of Pittsburgh helped turn things around by stepping up to the challenge of redefining themselves as a training ground for a new, tech-based economy. That’s why Schliebs, … Continue reading “iNetworksMichigan To Bring Detroit $10M, Plus Lessons Learned From Pittsburgh’s Economic Revival”
“I Got a Guy”
A friend of mine likes to make fun of me because I often say: “I got a guy.” You want to find the healthcare plan to fit your needs? I got a guy. Need your apartment cleaned? I got a guy. Need a social media maven with a joint drama and business degree from Yale? … Continue reading ““I Got a Guy””
Wii Game, Graphic Novel Help PixoFactor Digitize and Monetize Michigan’s Film Incentive
Michigan’s highest-in-the-nation 42 percent tax credit for filmmakers is often called the “film incentive,” but if you ask the folks at PixoFactor Entertainment in Royal Oak, MI, the bigger beneficiaries are those who work on videogame and animation productions. Plus, they argue, those jobs are longer-lasting and more local than movie production. That’s why Sean … Continue reading “Wii Game, Graphic Novel Help PixoFactor Digitize and Monetize Michigan’s Film Incentive”
Venture Surveys Show Nationwide Increase, More or Less, in Second-Quarter Investments
How would you prefer your venture capital survey data this morning? Depending on the source, we can serve it up lukewarm, hot, or scalding. All three measures show that venture funding rose during the second quarter; it’s just a matter of degree: —CB Insights, a startup financial services firm based in New York, reports that … Continue reading “Venture Surveys Show Nationwide Increase, More or Less, in Second-Quarter Investments”
Lessons Learned About the Outlook for New Obesity Drug Approval
Yesterday’s FDA advisory committee meeting on Vivus’ weight loss pill proved to us, once again, how incredibly difficult it is to successfully develop and register new drugs for obesity. Mountain View, CA-based Vivus had a solid program supporting their drug—demonstrating that their combination product of phentermine and topirimate (Qnexa) is very effective and has a … Continue reading “Lessons Learned About the Outlook for New Obesity Drug Approval”
Evernote Opens a Trunk of Goodies for Online-Notes Fans
If I only had a second brain—one that could hold my Web clips, store my business cards, transcribe my voice memos, keep my to-do lists, preserve my receipts and recipes and passwords, and archive items from my Twitter, Facebook, and RSS feeds, just to list a few of the myriad types of information I attempt … Continue reading “Evernote Opens a Trunk of Goodies for Online-Notes Fans”
U-M President Co-Chairs Obama Panel
President Obama has selected University of Michigan President Mary Sue Coleman to co-chair his new National Advisory Council on Innovation and Entrepreneurship, which will help develop policies to foster entrepreneurship, create jobs, and drive economic growth. U.S. Commerce Secretary and former Washington governor Gary Locke announced the members of the 26-person council at a U.S. … Continue reading “U-M President Co-Chairs Obama Panel”
NanoBio, With Glaxo as Big Partner, Sees Market in Treating and (Maybe) Preventing Cold Sores
NanoBio has spent a decade of R&D working on nanotech formulations that might help drugs and vaccines be better absorbed, more effective, or more convenient. Now the Ann Arbor, MI-based company is plowing ahead with its first big application—for the treatment and possibly the prevention of cold sores. This story has been unfolding for some … Continue reading “NanoBio, With Glaxo as Big Partner, Sees Market in Treating and (Maybe) Preventing Cold Sores”
As the World Converges on the Phone, Mobile Monday Michigan is Calling All Developers, Marketers
Linda Daichendt was a marketer for Wireless Toyz from the beginning of 2007 until the end of 2008. That’s when some serious downsizing happened at the Southfield, MI-based mobile phone chain retailer. Daichendt lost her job, but she did not lose her instincts as a mobile marketer. “So, I became extremely interested in this whole … Continue reading “As the World Converges on the Phone, Mobile Monday Michigan is Calling All Developers, Marketers”
Baseball, Apple Apps, and Chevrolet
Want to see the USA in your Chevrolet? First, you need to find the Chevy that’s right for you. To make it easier for iPhone, iPad and iPod Touch users, Chevrolet has released a “showroom” app that features the entire line of Chevrolet cars, trucks, and crossovers, allowing users to pick colors and search for … Continue reading “Baseball, Apple Apps, and Chevrolet”
Michigan’s Ambiq Micro Gets Ready to Scatter Lots of Tiny, Low-Power Products…Everywhere
Scott Hanson is only 27 years old, but he has spent the past six of those years obsessively working on one project—developing low-power circuit technology that can stay on for years, even decades. That was his project when he started working on his Ph.D. at the University of Michigan in 2004. Today, all that work … Continue reading “Michigan’s Ambiq Micro Gets Ready to Scatter Lots of Tiny, Low-Power Products…Everywhere”
A Newly Candid FDA on the Future Of Medical Device Regulation
We all know the Food and Drug Administration is one of the most important entities for those who develop drugs and medical devices, but for the public, and even many of the people in industry, it remains a notoriously mysterious organization. So I was very excited about the opportunity to have an in-depth phone conversation … Continue reading “A Newly Candid FDA on the Future Of Medical Device Regulation”
LiveYearbook Receives $475,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=dffac6dc-adfc-4b87-8b48-6bbed2e9c50b&Preview=1 Date 7/13/2010 Company Name LiveYearbook Mailing Address N1208 Peaceful Court Greenville, WI 54942 Company Description The mindset of the founders of LIVEyearbook was to create software that would reduce or eliminate the major challenges of the yearbook adviser. Website http://www.liveyearbook.com Transaction Type Venture Equity Transaction Amount $475,000 Transaction Round Undisclosed Proceeds … Continue reading “LiveYearbook Receives $475,000 New Financing Round”
MSU Nano Spinout Gets $1M
XG Sciences, a Michigan State University spinout that makes graphene nanoplatelets that can be used as additives in a number of products to give them special properties, received $1 million today in a deal with Korean conglomerate Hanwha Group. XG’s technology involves a fast and inexpensive process of separating layers of graphene into nanometer-size stacks. … Continue reading “MSU Nano Spinout Gets $1M”
Gates, Khosla Invest $23M in Detroit’s EcoMotors to Develop Efficient Engine
Bill Gates is betting $23 million that the internal combustion engine still has a few good years left in it. The Microsoft chairman, along with Menlo Park, CA-based Khosla Ventures, has invested in Troy, MI-based EcoMotors International. What they’re betting on is EcoMotors’ opposed-piston, opposed-cylinder (OPOC) technology for gas and diesel engines. EcoMotors says its … Continue reading “Gates, Khosla Invest $23M in Detroit’s EcoMotors to Develop Efficient Engine”
Webinar: Bilski v. Kappos: What Does it Mean for Biotech?
Intellectual property lawyers will address how the biotech industry can respond to the patent and intellectual property implications of Bilski v. Kappos, at this webinar hosted by Nixon Peabody. Register here.
Accuri Cytometers Raises $6M for Smaller, Cheaper Cell Analysis Instruments
[Updated: 11:40 am] Accuri Cytometers, the Ann Arbor, MI-based company with a vision of making high-powered cell analysis machines cheaper and more accessible to biology labs, has raised $6 million in new venture capital. The financing was disclosed Friday in a filing with the Securities & Exchange Commission. [Updated with list of investors] Fidelity Biosciences, … Continue reading “Accuri Cytometers Raises $6M for Smaller, Cheaper Cell Analysis Instruments”
Accuri Cytometers Obtains $6,000,000 Series E Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f32382b5-2884-4164-878d-d744c83c5358&Preview=1 Date 7/12/2010 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 “Accuri Cytometers Obtains $6,000,000 Series E Round”
EcoMotors Secures Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=327a5b69-b67f-4649-ba68-ef3718b26b1a&Preview=1 Date 7/12/2010 Company Name EcoMotors Mailing Address 2401 W Big Beaver Road Troy, MI 48084 Company Description EcoMotors is developing innovative next-generation diesel engines, with a focus on fuel efficiency, low emissions and cost effective solutions for developing markets. The family of EcoMotors engines will set a new industry standard for … Continue reading “EcoMotors Secures Series B Funding”
Entrepreneur Best Practices
Are you a first time innovation based entrepreneur or scientist that would like to commercialize? Are you going to need to raise capital? Do you want to accelerate the commercialization of your business? Are you concerned that you “don’t know what you don’t know?” This seminar, sponsored by Ann Arbor SPARK, will focus on the … Continue reading “Entrepreneur Best Practices”
Ann Arbor New Tech July Meetup
a2geeks is hosting this event in which five presenters take the stage for 10 minutes each, five minutes to demo and five minutes to answer questions, followed by open announcements and community networking.
Sex, Power, and Money: Dave McClure Tells Web Startups to Tap Into Consumers’ ‘Reptilian Psyche’
Dave McClure is a dynamic guy. I had the pleasure of hearing him speak to a small audience of tech startup founders in Seattle earlier this week. His impassioned message to entrepreneurs was, first of all, to take risks and be ambitious, and second, to build something that people really, really care about. That sounds … Continue reading “Sex, Power, and Money: Dave McClure Tells Web Startups to Tap Into Consumers’ ‘Reptilian Psyche’”
Adventures in YouTube-Land: The Making of “World Wide Wade Goes West”
It’s one of the cardinal rules of startup life: stick to your knitting. Don’t get distracted by all the cool things you could do, at the expense of the thing you already do well. At Xconomy, we’ve followed that rule pretty well: We’re journalists who write about technology and entrepreneurship for a living, and we … Continue reading “Adventures in YouTube-Land: The Making of “World Wide Wade Goes West””
Ford Makes it Easier to Avoid Texting While Driving With New SYNC Features
With laws in Michigan and other states cracking down on texting while driving, Ford today unveiled some new features to its SYNC platform, an all-in-one navigation, communication, and entertainment center that takes the next step in Ford’s goal of transforming the automobile into one big, safety-conscious, smartphone on wheels.. New features in Ford’s SYNC product … Continue reading “Ford Makes it Easier to Avoid Texting While Driving With New SYNC Features”
With San Diego as “Ground Zero,” Nissan Targets Pragmatic Car Buyers With Leaf EV—and We Take It for A Test Hum
In the fall of 2008, I was green with cleantech envy when my colleague Greg Huang got to test drive a prototype Tesla Roadster, the luxury, all-electric sports car made by Silicon Valley’s Tesla Motors (NASDAQ: [[ticker:TSLA]]), which became a public company just last week. But yesterday I turned over a new Leaf—and then I … Continue reading “With San Diego as “Ground Zero,” Nissan Targets Pragmatic Car Buyers With Leaf EV—and We Take It for A Test Hum”
World Wide Wade Goes West—Episode VII: Denver, CO
Well, I made it to San Francisco! I officially occupied my new Potrero Hill loft (which will double as Xconomy’s San Francisco bureau) Tuesday morning. But I don’t have an Internet connection there yet, so I’m writing this at the Starbucks on 16th and Kansas. Which means I’m feeling right at home—we depended on Starbucks … Continue reading “World Wide Wade Goes West—Episode VII: Denver, CO”
Borders’ eBook Store Open For Business; New Apps For Android, Blackberry
Borders today launched an assault on Amazon, while fighting for its own survival. The Ann Arbor, MI-based bookseller continued its aggressive new mission of trying to remain relevant in a highly competitive space by opening its new eBook store and launching two more eReader apps for Blackberry and Android devices. Today’s announcement follows its release … Continue reading “Borders’ eBook Store Open For Business; New Apps For Android, Blackberry”
CoverMyMeds Receives $250,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=31c4bc98-b99d-4957-acc1-02be77e8ba45&Preview=1 Date 7/7/2010 Company Name CoverMyMeds Mailing Address 10574 Ravenna Rd. Twinsburg, OH 44087 Company Description CoverMyMeds helps physicians and pharmacists complete Prior Authorization and other insurance coverage determination forms for any drug and almost all drug plans. Website http://www.covermymeds.com Transaction Type Venture Equity Transaction Amount $250,000 Transaction Round Undisclosed Proceeds Purposes … Continue reading “CoverMyMeds Receives $250,000 New Financing”
Echogen Receives $100,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=554b887a-44da-4f30-9a57-22d5e292c629&Preview=1 Date 7/7/2010 Company Name Echogen Mailing Address 405 S. High St. Akron, OH 44311 Company Description Echogen Power Systems, a private company based in Akron, Ohio is commercializing waste heat to power with a proprietary system. Since its founding in April, 2007, Echogen has developed a breakthrough power generation cycle called … Continue reading “Echogen Receives $100,000 New Funding”
World Wide Wade Goes West—Episode VI: Wall, South Dakota
If Xconomy had an official interstate highway, it would be I-90. The longest highway in the whole interstate system, it stretches 3,099 miles from Logan Airport in Boston (Xconomy’s birthplace) to Safeco Field in Seattle (the second city in our network). On our way to San Francisco, we followed I-90 from Boston to Buffalo, and … Continue reading “World Wide Wade Goes West—Episode VI: Wall, South Dakota”
AutoVenture Forum to Play Matchmaker Between Promising Tech Companies and Big Automakers, Suppliers
David Bodde, a college professor who teaches entrepreneurship to engineers, believes the auto industry is going through “a quiet revolution”—one in which most of the innovation happens not at the big auto companies but at the tiered suppliers. Bodde, an engineering professor at Clemson University in South Carolina, calls it a move “from a very … Continue reading “AutoVenture Forum to Play Matchmaker Between Promising Tech Companies and Big Automakers, Suppliers”
Adeona gets $1M from Seaside 88
Adeona Pharmaceuticals, based in Ann Arbor, MI., has received $1 million in equity financing from Florida-based investor Seaside 88, Adeona announced today. The financing involved the sale of 1,212,121 shares of stock. Adeona is working on a “prescription medical food” called Zinthionein ZC for treatment of Alzeimer’s disease and mild cognitive impairment. The company also … Continue reading “Adeona gets $1M from Seaside 88”
Amazon’s Cloud Computing Service Sees Opportunity in Genomic Data Overload
The future of biology, if Amazon has its way, will be in the cloud. The Seattle-based online retailer (NASDAQ: [[ticker:AMZN]]) has generated buzz the past few years with its foray into cloud computing through Amazon Web Services. This is the model in which customers rent server space on a pay-as-you-go basis, and get access to … Continue reading “Amazon’s Cloud Computing Service Sees Opportunity in Genomic Data Overload”
Five Things Michigan Entrepreneurs and Innovators Are Already Doing to Invigorate the State’s Economy
I recently had the honor of being interviewed for an Xconomy article. When I finished reading the article, I read a number of the related posts. One of them, “Five Things Entrepreneurs and Innovators Can Do To Invigorate Michigan’s Economy,” bothered me because, in my opinion, it leaves one thinking that Michigan is completely missing … Continue reading “Five Things Michigan Entrepreneurs and Innovators Are Already Doing to Invigorate the State’s Economy”
MidAmerica Healthcare Venture Forum
Hosted by the Michigan Venture Capital Association, the forum unites leading Midwest and coastal investors with corporate business development representatives to syndicate deal flow and facilitate investment opportunities in promising Midwest based healthcare start-ups. The collaborative effort between the Mid-America Healthcare Investors Network and International Business Forum, Inc. facilitates networking and investment opportunities among MidAmerica’s … Continue reading “MidAmerica Healthcare Venture Forum”