Bruce Legge is on a mission to infiltrate the Detroit area’s defense industry and report back to his iRobot overlords in Bedford, MA. For a lone flesh-and-blood vanguard of a future invasion of metallic warriors, Legge’s not doing too badly.
Category: Detroit
Four Ways Michigan Can Reinvigorate Its Economy (And One Way to Enjoy the Journey)
1. Invest substantially in targeted initiatives at the University of Michigan, and in programs that encourage the state’s best students to attend. Michigan is one of the nation’s truly great universities, public or private. It has superb programs in biomedicine and in engineering. It is a huge attractor of out-of-state funding—a highly successful multi-billion-dollar business. … Continue reading “Four Ways Michigan Can Reinvigorate Its Economy (And One Way to Enjoy the Journey)”
Michigan Startups to Pitch For Ann Arbor SPARK Incubator Space
Business incubator Ann Arbor SPARK is asking Michigan startups to take their best shots at five open spots in a business pitch competition it plans to host on June 4, the group announced today. The winner will get up to $50,000 in business acceleration services and a one-year incubator lease at SPARK East in Ypsilanti, … Continue reading “Michigan Startups to Pitch For Ann Arbor SPARK Incubator Space”
Total Joins GM, Advanced Technology Ventures In Funding Biofuels Developer Coskata
Paris-based oil company Total has joined General Motors as an investor in Coskata, according to an announcement by the cellulosic biofuels company based in Warrenville, IL. GM invested an undisclosed amount in early 2008 and said in February this year that some of Coskata’s ethanol is being tested at the automaker’s proving grounds in Milford, … Continue reading “Total Joins GM, Advanced Technology Ventures In Funding Biofuels Developer Coskata”
Lycera Keeps Its Investors Happy, Snags $11M to Pursue New Autoimmune Drugs
Lycera has taken an important early step in its journey of developing new treatments for autoimmune diseases. The startup, with operations in Plymouth, MI, and Cambridge, MA, has nailed down an $11 million cash infusion, which represents the second installment of a three-part, $36 million financing originally announced a year ago. The company secured the … Continue reading “Lycera Keeps Its Investors Happy, Snags $11M to Pursue New Autoimmune Drugs”
Go Back to the Basics, Take Care of Your Customers
There’s no getting around it, these are tough times for entrepreneurs. We all are strapped for cash, both in our households and in our business enterprises. What keeps coming back to me is a philosophy one of my old mentors, the late W. Hunter Simpson used to say: “Take care of your customers, and the … Continue reading “Go Back to the Basics, Take Care of Your Customers”
Fuel Cell Developer Adaptive Materials On Finding Engineers and the Company’s Future
Yesterday, we ran Part 1 of my interview with Michelle Crumm, co-founder and chief business officer for fuel cell manufacturer Adaptive Materials of Ann Arbor, MI. We discussed how it took a decade of old-fashioned hard work to get to a point where the company is signing deals to supply the military with the fuel cells needed … Continue reading “Fuel Cell Developer Adaptive Materials On Finding Engineers and the Company’s Future”
Five Ideas for Building the Innovation Economy in Michigan
1. Build clusters of excellence. Single companies have a tough time in isolation! 2. Provide meaningful ownership incentives to all employees. Share the big picture with every employee, often. Establish, communicate frequently and live a concise, coherent set of Corporate Values—“walk the talk.” 3. Embrace change as a constant. Know how to evolve your company … Continue reading “Five Ideas for Building the Innovation Economy in Michigan”
Fuel Cell Developer Adaptive Materials Is Michigan Success Story; Maybe Too Successful
Something strange has been happening over at Adaptive Materials, a fuel cell developer based in Ann Arbor, MI. During the past few months, as everybody talks about how to get things moving forward in Southeast Michigan, Adaptive has been, well, actually moving forward. A contract worth a few million from the Department of Defense here, … Continue reading “Fuel Cell Developer Adaptive Materials Is Michigan Success Story; Maybe Too Successful”
Solarbridge Technologies Secures $15,000,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=af3bc05a-108e-400f-b003-dab44bf20999&Preview=1 Date 4/27/2010 Company Name Solarbridge Technologies Mailing Address 2111 S. Oak St. Champaign, IL 61820 Company Description SmartSpark Energy Systems is a power electronics company, specializing in the development of products that support the efficient transformation and storage of energy used in renewable technologies. SmartSpark’s goal is to facilitate the mainstream … Continue reading “Solarbridge Technologies Secures $15,000,000 Series B Round”
Beringea Invests $6M For Michigan R&D Center
Beringea, a Farmington Hills, MI, venture capital firm, has invested $6 million in InTouch Health, a telemedicine company based in Santa Barbara, CA, which plans to use the Series D financing round to open an engineering research and development center in Michigan, according to an announcement today. The investment was made through Beringea’s InvestMichigan! Growth … Continue reading “Beringea Invests $6M For Michigan R&D Center”
Breaking the Myopic Mold: Q&A with David Egner of Detroit’s New Economy Initiative
If you ask people who’s lighting the innovation fires around Detroit, pretty soon you get directed to the New Economy Initiative for Southeast Michigan. This coalition of 10 community and philanthropic organizations was formed in 2008 with the goal of pooling resources to “restore southeast Michigan to a position of leadership in the new global … Continue reading “Breaking the Myopic Mold: Q&A with David Egner of Detroit’s New Economy Initiative”
Four Key Ingredients Needed to Spark Innovation in Michigan
Here are four key elements that people here in Michigan should think about as we seek to create a thriving hub of innovation and entrepreneurship: 1. Management: Michigan needs be more attractive for startup management to live and work. The state should work aggressively to lure top management talent to Michigan. 2. Investors: While Michigan … Continue reading “Four Key Ingredients Needed to Spark Innovation in Michigan”
ALTe’s New Factory Helps Give Michigan a Future Beyond Batteries
ALTe, an Auburn Hills, MI-based developer of electric propulsion systems, knows that if the future of the automobile is truly hybrid and electric, then a great deal more than just the battery is going to have to change. And while state government tax incentive policy, and news media reports, have emphasized automotive batteries, just as … Continue reading “ALTe’s New Factory Helps Give Michigan a Future Beyond Batteries”
How Sharing Increases Innovation
I believe there is a strong tie between sharing and the ability to innovate. This post will walk you through the logic. Innovation is built on these things: 1. The existence of problems and the desire to solve them 2. The ability to apply new ways of thinking to these problems 3. The cost of … Continue reading “How Sharing Increases Innovation”
Mascoma Collects $3.4M in Debt Round
Mascoma, the Lebanon, NH-based developer of advanced methods for making ethanol from wood fiber and other non-edible plant matter, has raised $3.4 million toward a $10 million round of convertible debt financing, according to regulatory documents filed April 21. The funding presumably puts the company in stronger position to move forward with construction of an … Continue reading “Mascoma Collects $3.4M in Debt Round”
TechTown’s New $5M Fund Only a Baby Step for FastTrac Entrepreneurs
Don’t get Randal Charlton wrong. The executive director at the TechTown business incubator in Detroit is thankful for a recent announcement of $5 million coming his way to help graduates of his FastTrac business training program launch their companies. But, he says, look at it this way: The money, granted by the New Economy Initiative, … Continue reading “TechTown’s New $5M Fund Only a Baby Step for FastTrac Entrepreneurs”
Dodd Bill Update: Listening to the Market
Like an entrepreneur listening to market feedback while designing a product, Senator Christopher Dodd (D-Conn) has made some improvements to features of his pending legislation that we described last month. Originally designed to fight the “too big to fail” problem in the financial markets, many constituents—including the Angel Capital Association and the National Venture Capital … Continue reading “Dodd Bill Update: Listening to the Market”
Detroit: America’s Laboratory for Innovation
What the heck is Xconomy doing opening a bureau in Detroit? The same thing we’ve been doing all along: seeking out technology innovators in key cities and chronicling the work they’re doing to turn their ideas into businesses that will drive the economy forward, both regionally and nationally. There’s no question that Detroit falls short … Continue reading “Detroit: America’s Laboratory for Innovation”
Hold On To Your Brightest Young People, Michigan
I don’t have five pithy things to tell entrepreneurs in Michigan, but I do have one comment based on my 16 years in Ann Arbor trying to help commercialize biotech/medtech innovations at the University of Michigan. Do everything possible to keep your young in Michigan. The three research universities in Michigan, U-M, Michigan State University, … Continue reading “Hold On To Your Brightest Young People, Michigan”
Michigan Governor: Create Clean Energy Jobs to Compete for $20M in Stimulus Funds
Michigan Gov. Jennifer Granholm is making $20 million in federal stimulus funds available to Michigan manufacturers who want to diversify, retool, and create jobs in clean energy. Granholm announced the Recovery Act funding Wednesday at the Michigan Wind Energy Conference in Detroit. The governor said that Michigan companies can compete for $15 million in grants … Continue reading “Michigan Governor: Create Clean Energy Jobs to Compete for $20M in Stimulus Funds”
The XSITEment Returns on June 17 at Babson College—X Prize Founder Diamandis to Keynote Xconomy Summit
Most Xconomy events last only an afternoon or an evening. Barely enough time, in other words, to scratch the surface of all the amazing work technology entrepreneurs are doing around New England, in areas as varied as cloud computing, health IT, mobile commerce, smart grid technology, and the future of drug development. But our flagship … Continue reading “The XSITEment Returns on June 17 at Babson College—X Prize Founder Diamandis to Keynote Xconomy Summit”
Five Ways to Boost Entrepreneurship and Innovation in Michigan
[Editor’s note: To help launch Xconomy Detroit, we’ve queried our network of Xconomists and other innovation leaders around the country for their list of the most important things that entrepreneurs and innovators in Michigan can do to reinvigorate their regional economy.] 1) Create great technologies 2) Bring more venture capital into the region 3) Get … Continue reading “Five Ways to Boost Entrepreneurship and Innovation in Michigan”
Delphi Eager to Leave Bankruptcy Behind, Build Connections to Auto Industry’s Future
Auto parts manufacturer Delphi has a simple description of what it’s been up to during these past four years of bankruptcy reorganization. “We’ve been quiet, but we’ve been busy,” says Jeffrey Owens, president of Delphi’s electronics and safety division. The recent Society of Automotive Engineers (SAE) World Congress in Detroit was a kind of coming-out … Continue reading “Delphi Eager to Leave Bankruptcy Behind, Build Connections to Auto Industry’s Future”
SPS Commerce Lands $59,500,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f0056ee4-33e5-497a-800b-98e3f1f6e817&Preview=1 Date 4/22/2010 Company Name SPS Commerce Mailing Address 333 South Seventh Street Minneapolis, MN 55402 Company Description SPS Commerce (NASDAQ: SPSC) is the leading trading partner integration center offering fully outsourced Electronic Data Interchange (EDI) and Item Catalog functions. We offer rapid, turn-key services to connect suppliers with their retail and … Continue reading “SPS Commerce Lands $59,500,000 New Financing Round”
The Xconomists Reach Out to Detroit
One of Xconomy’s unique strengths is our network of Xconomists, leaders in the worlds of innovation and entrepreneurship who have accepted our invitation to act as occasional guest bloggers, story sources, and informal editorial advisers. We’re proud to count 61 Xconomists in Boston (our original home base), 50 in Seattle, 42 in San Diego, and … Continue reading “The Xconomists Reach Out to Detroit”
Sylvia Pagán Westphal Takes the Pulse of Life Sciences for Xconomy
One of the things I’ve always enjoyed about technology journalism is how cozy a niche it is. There just aren’t than many folks who can geek out with the lab dwellers, put the hard questions to the executives, and get it all down on the page, on a deadline–so it often feels like if you … Continue reading “Sylvia Pagán Westphal Takes the Pulse of Life Sciences for Xconomy”
A Tangled Web of Self-Interest
Boy, it’s good to be here, invading a tiny corner of cyberspace as the new life sciences columnist for Xconomy. It is a journalist’s dream to be given free rein, and unlimited real estate, to write about the subjects she thinks matter. As a newspaper reporter (more about me here) the pressure to keep stories … Continue reading “A Tangled Web of Self-Interest”
The Triple Helix Model for Reinvigorating Michigan’s Economy
Michigan is beginning to take a more enlightened approach to economic development, with a stronger level of cooperation between academia, industry and government. It is now recognized that each of these constituencies has a vital role to play in rebuilding and sustaining a robust, knowledge-based economic model. Mr. Lennart Johansson, the Swedish Consul General to … Continue reading “The Triple Helix Model for Reinvigorating Michigan’s Economy”
Invest in the Convergence of Life Sciences, Engineering, Physical Sciences, and IT
Developing the economy of Detroit and surrounding areas is going to take some significant time. Thus, some entrepreneurs and innovators need to take the long view by engaging with the research universities, institutions and medical centers to develop people and new innovations for the future. This would include working with leaders of these institutions to … Continue reading “Invest in the Convergence of Life Sciences, Engineering, Physical Sciences, and IT”
Auto Battery Developer Sakti3 Gets $7M in Series B Funds; Company Stays Low Key
When I last met Ann Marie Sastry, she was shivering in the cold, leaky basement of Detroit’s Cobo Hall at January’s auto show, talking about how her company, Ann Arbor, MI-based automotive lithium-ion battery developer Sakti3, was eventually going to power the cars upstairs on the main show’s “Electric Avenue.” Now her company is closer … Continue reading “Auto Battery Developer Sakti3 Gets $7M in Series B Funds; Company Stays Low Key”
Aeroflex/INMET Pledges 47 New Jobs
Aeroflex/INMET, a Scio Township, MI- based affiliate of Aeroflex, announced today that it will use state-approved tax credits to move jobs from its affiliated New Jersey facility to the Michigan site. Aeroflex/INMET says it will create 47 new jobs in the Ann Arbor, MI area over the next five years and spend more than $3 … Continue reading “Aeroflex/INMET Pledges 47 New Jobs”
Ford App Controls Smartphones
Ford Motor Company’s wireless division announced today that AppLink, a downloadable application for its Sync in-car communications and “infotainment” system, will allow drivers to use voice commands to control certain apps on their mobile phones. Available first on the 2011 model Ford Fiesta, Applink will work initially with Android and BlackBerry devices, and will allow users … Continue reading “Ford App Controls Smartphones”
At Xconomy Detroit, A New Narrative Begins In A City That Is Always Striving
Welcome to Xconomy Detroit, a continuing chronicle of what this city is “becoming.” The word “Detroit” has always been immersed in meaning far beyond the physical borders of this great and tragic city. At one time, there was no need to define what one meant by the phrase “coming out of Detroit.” It was synonymous … Continue reading “At Xconomy Detroit, A New Narrative Begins In A City That Is Always Striving”
Xconomy Opens in Detroit to Tell a Vital Story of Innovation and Economic Transformation
Even as the Detroit Red Wings seek to battle back in their NHL playoff series against the Phoenix Coyotes, entrepreneurs and innovators in Michigan are working overtime to help the state meet an economic challenge far more imposing than the Coyotes are on ice. That’s how we see it here at Xconomy, and that’s why … Continue reading “Xconomy Opens in Detroit to Tell a Vital Story of Innovation and Economic Transformation”
Five Things Entrepreneurs and Innovators in Michigan Can Do to Reinvigorate Our Regional Economy
1. Reinforce success — Our research and development ranks second in the nation behind Delaware, in part because of the massive amount of research done by the auto industry. In spite of the current problems, this research has allowed Detroit to lead the auto industry for almost 100 years. A great deal of this research … Continue reading “Five Things Entrepreneurs and Innovators in Michigan Can Do to Reinvigorate Our Regional Economy”
Michigan Approves Tax Incentives For Tech Companies
The state of Michigan is continuing its focus on using tax incentives to convince companies to locate here, or stick around, and a few technology companies are among the latest beneficiaries. The Michigan Economic Growth Authority recently approved tax breaks for the following tech companies. Ash Stevens: The Detroit-based life sciences research company will receive … Continue reading “Michigan Approves Tax Incentives For Tech Companies”
Prostate Treatment Developer HistoSonics Gets $11M, U-M Tech Transfer Beams With Pride
Seems everybody is getting what they need out of medical device startup HistoSonics, a University of Michigan spinout that recently collected $11 million in Series A financing. Ken Nisbet, executive director of the U-M Tech Transfer office, got what he calls a “dream come true,” a kind of poster child for everything his office can … Continue reading “Prostate Treatment Developer HistoSonics Gets $11M, U-M Tech Transfer Beams With Pride”
10 Ideas for Strengthening Michigan’s Innovation Economy
1. Support the relevant state-regional-level infrastructures: favorable state capital gains tax, generous support for K-12, university education. 2. Develop professional, competent, adequately funded technology transfer offices in Michigan research universities. Develop some system for lowering cost of start-up capital (low-interest state loans, etc). 3. Pick *one* geographic area (probably Ann Arbor, since young professionals would … Continue reading “10 Ideas for Strengthening Michigan’s Innovation Economy”
Networked Insights Obtains $5,000,000 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e5ae2451-3445-4e3d-bba8-fa14740f0061&Preview=1 Date 4/20/2010 Company Name Networked Insights Mailing Address 33 East Main Street Madison, WI 53703 Company Description Networked Insights represents the shift from market research to customer generated insights. We enable companies to engage with their customers on a continual basis to deliver relevant insights on the market, customer and company … Continue reading “Networked Insights Obtains $5,000,000 Series A Financing Round”
Michigan Microloan Fund Gives $115K
The Michigan Microloan Fund Program has awarded three startup companies a combined total of $115,000, according to an announcement Monday by Ann Arbor SPARK, which manages the fund. Companies receiving the funds are CYJ Enterprises, a Detroit-based startup commercializing an emergency management system for child and adult care providers; Ann Arbor, MI based Ix Innovations, … Continue reading “Michigan Microloan Fund Gives $115K”
Surveys Agree on Rising Tide of VC Activity, But Differ on the Ebb and Flow
After running the early returns on first-quarter venture activity, we got some additional perspective from other sources over the weekend that show an ebb of VC investments in life sciences startups and a surge in energy deals. All three VC surveys—from Dow Jones, MoneyTree, and CB Insights—showed an overall rising tide compared with the first … Continue reading “Surveys Agree on Rising Tide of VC Activity, But Differ on the Ebb and Flow”
American Competitiveness Hinges on Clean Energy
Energy is a $6 trillion global industry, and will likely grow to more than $10 trillion by mid-century. As clean energy replaces carbon-based energy sources around the world, new markets employing millions of people will emerge. Countries like China recognize this opportunity, and are racing decisively ahead. Meanwhile, the United States’ inaction is relegating our … Continue reading “American Competitiveness Hinges on Clean Energy”
Groupon Secures $135,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cac9725e-6c87-4d26-b702-8cc817f72dc1&Preview=1 Date 4/19/2010 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 Secures $135,000,000 New Financing”
Kresge Gives $800K For TechTown Expansion
TechTown, a Detroit business incubator, has received an $800,000 grant from The Kresge Foundation to renovate the former Dalgleish Cadillac dealership on Cass Avenue into TechTwo, which will house more incubator space. The grant gives up to $650,000 for the renovation. The Kresge Foundation, which supports nonprofits in Metro Detroit, gave $1.5 million to TechTown … Continue reading “Kresge Gives $800K For TechTown Expansion”
SAE 2010 World Congress
For the Society of Automotive Engineers (SAE), January’s North American International Auto Show in Detroit is just for show. If you’re an engineer or tech geek who really wants to get “under the hood,” springtime’s SAE World Congress is the place to be. All the latest electronics, materials and other innovations will be on display … Continue reading “SAE 2010 World Congress”
Inner Circle: Honoring Women of Achievement
Inforum, a professional women’s alliance, will host Inner Circle, an evening of advancing women with leadership potential and honoring women of achievement, Tuesday, April 20 at Birmingham’s Townsend Hotel. The event honors women with exemplary leadership skills and gives them an opportunity to share their knowledge and lessons learned with women who are interested in … Continue reading “Inner Circle: Honoring Women of Achievement”
Ignite Automotive
Ignite Automotive is an evening of automotive themed presentations with a twist. Speakers have exactly five minutes to tell their story, backed by 20 slides auto-advancing every 15 seconds. Ignite Automotive will give a select group of Michigan geeks the stage to present their best ideas for fixing what’s wrong with the auto industry. Preference … Continue reading “Ignite Automotive”
Mingle and Match
If you are launching a startup, and need people to help you, Ann Arbor SPARK’s Mingle and Match is where you can have one minute to tell about your business and what kind of help you are seeking, followed by a networking session. To be a presenter, send a one-paragraph description of your business concept, … Continue reading “Mingle and Match”
Michigan Energy Forum
Ann Arbor SPARK is hosting a discussion around transportation infrastructure, where participants can learn about current trends, public policy changes that are on the horizon, and cutting edge innovation around the sector. Michigan Energy Forum will be streamed live, and you can ask questions from your computer if you cannot attend the event.