Category: Detroit

Bio Roundup: Tax Cuts, Drug Approval Record, New Flagship Cash & More

[Updated 12/22/17, 2:37 p.m. See below.] This year is wrapping up as one of the strongest on record for FDA drug approvals. As of this morning, the regulator has approved 46 novel drugs in 2017—a total that beats the mark set two years ago. With one week left in the year, the FDA could add … Continue reading “Bio Roundup: Tax Cuts, Drug Approval Record, New Flagship Cash & More”

Fintech in 2018: Blockchain Apps, A.I. Interfaces, Crypto Rules

For the financial technology sector, the year’s headlines were dominated by breathless blockchain hype, cryptocurrency bubble talk, and a never-ending barrage of initial coin offerings. To help put things in perspective—and get a read on what might come next in fintech—Xconomy caught up with David Jegen (pictured), a Boston-based partner with F-Prime Capital, who invests … Continue reading “Fintech in 2018: Blockchain Apps, A.I. Interfaces, Crypto Rules”

American Center for Mobility Officially Opens, Announces 2018 Plans

There were times when American Center for Mobility (ACM) CEO John Maddox wasn’t sure it would happen on time, but last week, the first phase of the Ypsilanti Township, MI-based test bed officially opened on schedule after more than a year of construction. Two ACM members, Visteon and Toyota, also announced they would begin autonomous … Continue reading “American Center for Mobility Officially Opens, Announces 2018 Plans”

Social Media Cyber Threats: 3 Predictions for 2018

1. Ransomware: Social media will be the number one vehicle for ransomware distribution in 2018. Currently, there are nearly 1 million social media accounts compromised every day, and that number will continue to rise, thanks to the plethora of easily identifiable targets. And with new channels comes new costs: the average cost of a ransomware ticket will go up … Continue reading “Social Media Cyber Threats: 3 Predictions for 2018”

Net Neutrality Repeal Means The Battle Is Just Beginning

From businesses and consumers to politicians and tech industry leaders, the furor over last week’s Federal Communications Commission (FCC) decision to repeal net neutrality can be felt across America. People everywhere are stepping up to show their support for a free and open Internet. In my view, the battle to preserve net neutrality is still … Continue reading “Net Neutrality Repeal Means The Battle Is Just Beginning”

Retailers’ Holiday Wishlist? More Sales Powered By New Technologies

From products designed by artificial intelligence to virtual reality systems that help shoppers picture merchandise in their homes, retailers are deploying technology like never before this holiday season, betting that they can win business back from the default of online shopping. These innovations run the gamut, including sensors and cameras that can monitor in-store movements, … Continue reading “Retailers’ Holiday Wishlist? More Sales Powered By New Technologies”

New DIY Kit from Backyard Brains Tests Plant Behavior, Communication

Back in the 1970s, a nonfiction book called “The Secret Life of Plants” took the world by storm. Both my mother and grandmother owned a copy, and being a child with a voracious appetite for books, I took a peek inside. The book described the emotional and spiritual inner life of plants and recommended ways … Continue reading “New DIY Kit from Backyard Brains Tests Plant Behavior, Communication”

3 A.I. Predictions for 2018: Emotion, Data, Ethics

1. Emotion A.I. will increase our humanity and empathy for each other. In recent years, the smartphones, bots, and devices we spend so much of our time with could be accused of contributing to the desensitization of our society. When a fight breaks out, some teens’ first reaction is to pull out their phones and take … Continue reading “3 A.I. Predictions for 2018: Emotion, Data, Ethics”

Bio Roundup: Tax Cuts, a Funding Rush, Hemophilia Questions & More

In the penultimate week before the end-of-year recess, Congress raced to provide the drug industry—and the rest of corporate America—a massive tax cut, with breaks for investors, too. Racing to finish their own end-of-year budgets, perhaps, investors poured hundreds of millions into private biotechs, too. If that doesn’t get your blood racing, then how about … Continue reading “Bio Roundup: Tax Cuts, a Funding Rush, Hemophilia Questions & More”

Gene Therapy Advances, But Hemophilia Is No Easy Target

Mark Skinner, the former longtime president of the World Federation of Hemophilia, has had the blood disease on his mind his entire life. He doesn’t have a choice. Skinner, 57, was born with a severe form of hemophilia A, meaning he has a tiny fraction of the necessary cellular machinery to clot blood. His disease … Continue reading “Gene Therapy Advances, But Hemophilia Is No Easy Target”

As Cryptocurrencies Grow, Mutual Coin Hedge Fund Guides Investors

Way back in 2012, we published a story about Usman Majeed, a young entrepreneur running an electronics reseller business called Tech Twurl out of his Michigan State University dorm room. He graduated with a computer science degree in 2015 and shut down Tech Twurl soon after, but the desire to run his own company remained. … Continue reading “As Cryptocurrencies Grow, Mutual Coin Hedge Fund Guides Investors”

Aptiv Plans Driverless Car Tech Hub in Boston After Buying NuTonomy

[Updated 12/12/17, 5:51 pm. See below.] Global automotive technology supplier Aptiv is planting a bigger flag in Boston. On Tuesday, the England-based company announced plans to open a new technology office in Boston’s Seaport neighborhood. The space will also be the new headquarters of NuTonomy, the Boston-based autonomous vehicle software startup that Aptiv acquired this … Continue reading “Aptiv Plans Driverless Car Tech Hub in Boston After Buying NuTonomy”

ASH 2017 Highlights: CAR-T Competition, Myeloma, Hemophilia & More

[Updated, 12/13/17, 1:50 p.m. ET. See below.] The annual American Society of Hematology meeting is nearly over. For now, we’ve chosen updates from three disease areas to highlight, plus the more notable market movements. No surprise, there’s a lot about the genetically engineered cell therapy known as CAR-T. Gene therapy and more standard forms of … Continue reading “ASH 2017 Highlights: CAR-T Competition, Myeloma, Hemophilia & More”

After Raising $27M, Ouster to Plans Mass Manufacture of LiDAR Units

Light Detection and Ranging (LiDAR) is one of the most important technologies underpinning the development of driverless cars. LiDAR systems feed raw sensor data to the car’s brain, creating a 3D picture of the surrounding environment and enabling autonomous vehicles to navigate it. But LiDAR has also been controversial because it’s expensive, sometimes fallible, and … Continue reading “After Raising $27M, Ouster to Plans Mass Manufacture of LiDAR Units”

What Are the Nation’s Top Cities and Regions for Driverless Tech?

Whether you think self-driving cars are the stuff of science fiction or a potentially paradigm-shifting new form of transportation, autonomous vehicles are coming—and the companies developing them are spending big money to make it happen. A few years ago, industry analysts seemed to think Silicon Valley would win the race to get self-driving cars on … Continue reading “What Are the Nation’s Top Cities and Regions for Driverless Tech?”

U-M’s MADE Program Aims to Train Entrepreneurs in Developing Nations

This week, the University of Michigan’s Zell Lurie Institute announced a new program called Michigan Academy for the Development of Entrepreneurs (MADE), which aims to help business owners in developing nations to grow and thrive. The program, which has been established in partnership with the William Davidson Institute and Aparajitha Foundations, will work with local … Continue reading “U-M’s MADE Program Aims to Train Entrepreneurs in Developing Nations”

Bio Roundup: Trials to Watch, Mega Deals, Video Game Therapy & More

With 2018 around the corner, this was a week to look ahead. At Xconomy, we zeroed in on several clinical trials that could become major stories in the life sciences. Other healthcare milestones are on the way, too. The FDA will consider for the first time whether a video game should be approved as medicine. … Continue reading “Bio Roundup: Trials to Watch, Mega Deals, Video Game Therapy & More”

The ‘Amazon Effect’ and the Gender Wage Gap

The battle to land Amazon’s second home is shaping up to be one of the fiercest competitions to lure a corporate headquarters in modern history. From serious incentives like massive tax breaks to headline grabbing stunts like offers of bear wrestling and giant cacti, it’s safe to say cities are pulling out every stop imaginable … Continue reading “The ‘Amazon Effect’ and the Gender Wage Gap”

Propose With a Lab-Made Diamond? Diamond Tech Retailers Say, “Yes”

How do you disrupt an industry that markets itself as the embodiment of “forever?” You bring it back to basics, says Lindsay Reinsmith, co-founder of Ada Diamonds, an online retailer of jewelry with lab-made gemstones in San Francisco. “Science is on our side,” she says. “We confront them with facts.” Machine-made gemstones are created in exactly … Continue reading “Propose With a Lab-Made Diamond? Diamond Tech Retailers Say, “Yes””

15 For ’18: Key Clinical Data to Watch For Next Year (Part 2)

[Corrected, 12/11/17, 1 p.m. ET. See below.] On Monday we posted the first part of our look at what should be some of 2018’s most important clinical data, including trials for lung cancer, heart disease, melanoma, Alzheimer’s disease, rare blood disorders, and more. With part two, we’re previewing studies for migraine, brain cancer, lymphoma, peanut … Continue reading “15 For ’18: Key Clinical Data to Watch For Next Year (Part 2)”

Ambiq Micro Plans to Expand IoT Uses of Energy-Saving Microprocessor

Austin—Seven years ago, Scott Hanson was a student at University of Michigan who was hoping to raise a few hundred thousand dollars for Ambiq Micro, his fledgling startup that aimed to make low-powered microcontrollers. Today, Ambiq is headquartered in Austin, TX, has raised tens of millions in venture capital, and sells its energy-efficient chips to … Continue reading “Ambiq Micro Plans to Expand IoT Uses of Energy-Saving Microprocessor”

Case’s $150M Rise of the Rest Fund Aims to Boost Flyover Startups

Author, investor, and AOL co-founder Steve Case today announced a new $150 million venture fund aimed at pumping investment capital into tech companies in so-called flyover states. Contributing to the fund is an impressive group of some of the most successful entrepreneurs in the country. Called the Rise of the Rest Seed Fund, it will … Continue reading “Case’s $150M Rise of the Rest Fund Aims to Boost Flyover Startups”

Black Venture Capitalists Are Transforming Tech

Would it surprise you to know that there are more than 100 black venture capitalists or that this nationwide ecosystem is growing? Most of the VCs in this expanding ecosystem made pivots from highly successful careers in other fields. They have very impressive academic credentials, business backgrounds comparable to their Silicon Valley peers, and a … Continue reading “Black Venture Capitalists Are Transforming Tech”

15 For ’18: Key Clinical Data to Watch For Next Year (Part 1)

Many of biotech’s biggest stories in 2017 followed the highly anticipated data from clinical studies. There were monumental successes, like the first-ever approval of a genetically modified living cell therapy, the first FDA application for a gene therapy or a medicine using RNA interference. There were also stinging failures, such as the latest in a long … Continue reading “15 For ’18: Key Clinical Data to Watch For Next Year (Part 1)”

Milestones of Innovation 15: Entering the New Atomic World

A momentous step into the atomic age happened around 3:20 p.m. Central War Time on Dec. 2, 1942, seventy-five years ago, in a vast, unheated space (a former squash doubles court) under the abandoned University of Chicago football stands at Stagg Field. A cadmium control rod was pulled out from a huge, painstakingly assembled cube … Continue reading “Milestones of Innovation 15: Entering the New Atomic World”

Bio Roundup: Migraine Data, Cancer Drug Combos, Azar Hearing & More

A pair of migraine drugs made a splash in biotech news this week with published data suggesting that they can reduce the frequency of headaches. These drugs still await an FDA decision, and their impact on patients over the long term are being watched closely. As many as 38 million Americans suffer from migraines, according … Continue reading “Bio Roundup: Migraine Data, Cancer Drug Combos, Azar Hearing & More”

As GM Gets Self-Driving Buzz, Autonomous Vehicles Navigate Niches

We still live in the early days of autonomous vehicles. We’re toddlers, technologically speaking, and our algorithms are still learning to walk, er, drive. That’s the impression you get from reading the various recaps of an autonomous car test run that General Motors hosted for journalists this week in San Francisco. Wired’s Aarian Marshall noted … Continue reading “As GM Gets Self-Driving Buzz, Autonomous Vehicles Navigate Niches”

Genesis Innovation Group’s New $10M Fund Focuses on Later-Stage Deals

Genesis Innovation Group, a Holland, MI-based collective of venture investors focused on early-stage medical device startups, is raising a new $10 million fund called Cultivate(MD) Capital Fund I. Genesis is not the typical venture capital firm. In an interview earlier this year, CEO Rob Ball said it’s a consulting group consisting of accredited private investors … Continue reading “Genesis Innovation Group’s New $10M Fund Focuses on Later-Stage Deals”

“Responsive” Machine Learning Could Lessen Cybersecurity Tradeoffs

In the wake of the Equifax breach and the global WannaCry ransomware outbreak earlier this year, tensions around cybersecurity are running high. According to a recent study conducted by the Ponemon Institute and sponsored by Barkly, seven out of 10 organizations are reporting their security risk has significantly increased during the past 12 months. Only … Continue reading ““Responsive” Machine Learning Could Lessen Cybersecurity Tradeoffs”

Drug Prices, Industry Ties Take Spotlight at HHS Nominee Azar Hearing

If Wednesday’s hearing for Health and Human Services Secretary Nominee Alex Azar is any indication, reining in drug prices and insurance premiums are the policy priorities that will guide Congress’s interaction with the department under a new leader. For the better part of the three-hour hearing by the Senate’s Health, Education, Labor and Pensions committee, … Continue reading “Drug Prices, Industry Ties Take Spotlight at HHS Nominee Azar Hearing”

R.I.P. TechShop: Makerspace Closes All U.S. Locations Due to Bankruptcy

On Oct. 30, I received the usual weekly email from TechShop, the makerspace just outside of Detroit in Allen Park, MI, informing me of upcoming events and membership deals. Just two weeks later, an email from TechShop CEO Dan Woods hit my inbox announcing that all 10 wholly owned locations in the U.S. would shut … Continue reading “R.I.P. TechShop: Makerspace Closes All U.S. Locations Due to Bankruptcy”

Joining Trend, WI Creates New Business Entity: Benefit Corporations

On Monday, Wisconsin enacted legislation allowing companies to incorporate as benefit corporations. Although this may sound like routine, small-time legislative business, it is just as significant as major policy initiatives being debated in the halls of Congress. On issues from net neutrality to workers’ rights, corporations are perceived to—and often do—engage in practices that maximize … Continue reading “Joining Trend, WI Creates New Business Entity: Benefit Corporations”

As Automation Disrupts Everything, Michigan Must Seize Opportunity

Detroit is buzzing again. Optimism about the city’s future is high. Unemployment in the state of Michigan is under 4 percent, approaching 20-year lows, and is lower than the national average. There’s lots to be excited about, and I share that excitement 100 percent. In fact, it’s part of the reason why I recently moved … Continue reading “As Automation Disrupts Everything, Michigan Must Seize Opportunity”

Selocial Allows Fans and Bands to Discover, Publicize Indie Music

David “Stock” Baird is a songwriter, producer, and entrepreneur who spends a lot of time thinking of new and better ways for independent musicians to get paid for their work. He found a way to connect his passions by creating Selocial, a social network and music discovery tool that went live earlier this month. It … Continue reading “Selocial Allows Fans and Bands to Discover, Publicize Indie Music”

After Successful Pilot, Apprenti Expands Tech Training Program

Those of us who keep tabs on the tech world hear a lot about the challenges of hiring and retaining IT talent. According to a forecast by the U.S. Bureau of Labor Statistics, more than 1.3 million new computer programming and computer support specialist jobs will be created across the country by 2022, and as businesses … Continue reading “After Successful Pilot, Apprenti Expands Tech Training Program”

ClimaCell Bags $15M to Predict Weather from Wireless Network Signals

Local meteorologists might avoid being the butt of so many jokes, if the latest crop of weather technology startups have their way. A number of young companies are trying to improve the methods for tracking and predicting the weather. Some are tackling the problem from space, like Spire Global, whose network of small satellites gather … Continue reading “ClimaCell Bags $15M to Predict Weather from Wireless Network Signals”

Genomenon Creates Automated, Evidence-Based Cancer Gene Panel

Genomenon, a University of Michigan spinout developing analytics and data visualization software for the genomics industry, last week announced it has created an evidence-based cancer gene panel using automated machine learning techniques. Gene panels are used by clinicians to analyze mutations in patient samples. Genomenon’s panel was produced using its software tool, the Mastermind Genomic … Continue reading “Genomenon Creates Automated, Evidence-Based Cancer Gene Panel”

Cengage Defends Value of Digital Course Materials Amid Print Decline

Textbook publishers are making progress on shifting their businesses from print to mostly digital products. Now comes the hard part: figuring out how to reverse revenue declines when your business is built on digital course offerings that are generally much cheaper than books. Take Cengage, one of the largest education publishers. Digital products now comprise … Continue reading “Cengage Defends Value of Digital Course Materials Amid Print Decline”

U.P.’s Orbion Space Technology Wins $500K Accelerate Michigan Prize

Midtown Detroit hosted two events this week that are among the biggest in the Southeast Michigan startup community: the Michigan Venture Capital Association’s annual awards gala, and the Accelerate Michigan Innovation Competition, where 36 early-stage tech companies competed for nearly $1 million in cash and prizes, including a $500,000 grand prize. Although both events have … Continue reading “U.P.’s Orbion Space Technology Wins $500K Accelerate Michigan Prize”

Stratim CEO Sees Future with Costly Driverless Cars, but Low Ride Fares

Like many tech entrepreneurs, Sean Behr had a young business that was popular with consumers, but was also losing money. So in February of 2016, he decided to refocus his San Francisco startup on the small, but unexpectedly profitable aspect of his service that could operate in the black. That pivot put Behr in a … Continue reading “Stratim CEO Sees Future with Costly Driverless Cars, but Low Ride Fares”

Bio Roundup: ICER Eyes Cost, Azar at HHS, Gates’s ALZ Cash & More

In our roundup this week, Alzheimer’s disease is in the news, thanks to billionaire Bill Gates and his personal pledge of $100 million toward R&D. That could equal the amount one startup hopes to raise in an IPO to develop drugs for Alzheimer’s and other brain diseases. If a treatment became available, could our health … Continue reading “Bio Roundup: ICER Eyes Cost, Azar at HHS, Gates’s ALZ Cash & More”

IRobot’s Colin Angle on the Home Run of Robotics (It’s Not A.I.)

When it comes to consumer robotics, iRobot has to be the poster child. It was born 27 years ago out of MIT, founded by legendary roboticist Rodney Brooks, now professor emeritus, and two of his students, Helen Greiner and Colin Angle. Over the years, the company has made many forays into various products—including the My … Continue reading “IRobot’s Colin Angle on the Home Run of Robotics (It’s Not A.I.)”

Self-Driving Stampede: Why Mobility Startup Prices Keep Going Up

When automotive supplier Delphi forked over approximately $450 million to buy Boston-based software startup NuTonomy last month, it was the latest in a spate of high-dollar acquisitions involving companies that develop self-driving technologies. NuTonomy, founded by MIT researchers, was only four years old and had raised $16 million in a Series A round the previous … Continue reading “Self-Driving Stampede: Why Mobility Startup Prices Keep Going Up”

CarGurus Stock Up After First Report to Wall Street: 3 Takeaways

CarGurus’ stock price is up around 10 percent Wednesday after the company delivered positive financial results in its first quarterly report since going public. The Cambridge, MA-based software company’s stock (NASDAQ: [[ticker:CARG]]) was trading just under $33 per share as of this writing Wednesday morning, up from Tuesday’s closing price of $29.82. CarGurus released its … Continue reading “CarGurus Stock Up After First Report to Wall Street: 3 Takeaways”

Is Co-Working Played Out? Bamboo Detroit Report Shows Otherwise

Co-working spaces may be old hat in places like San Francisco and Boston, but in Detroit, they can be a vital gateway into the local startup ecosystem—particularly for women and people of color. That’s one of the takeaways from a new report released by Bamboo Detroit, the city’s first co-working space located in the heart … Continue reading “Is Co-Working Played Out? Bamboo Detroit Report Shows Otherwise”

Poshmark Picks Up $87.5M to Power the Social, Digital Wardrobe

Poshmark, a social media e-retail company, has raised $87.5 million in a Series D investment round led by Singapore sovereign wealth fund Temasek. That brings the total funding raised by the Redwood City, CA-based company to $160 million. Other investors in the firm include Mayfield, Menlo Ventures, GGV Capital, Inventus Capital, SoftTech VC, Union Grove … Continue reading “Poshmark Picks Up $87.5M to Power the Social, Digital Wardrobe”

At New Penn Foster Gig, Stefanski Tackles the “No Good Jobs” Myth

While it may seem like those without a college degree have few good options in an increasingly tech- and services-oriented economy, a new report finds more than 30 million “good jobs” in the U.S. that pay at least $35,000 per year and can be had without a college diploma—and the right set of skills. But many people … Continue reading “At New Penn Foster Gig, Stefanski Tackles the “No Good Jobs” Myth”

DFJ Co-Founder Jurvetson Exits Firm Amid Harassment Charges

[Updated 11/15/17, 11:10 am. See below.] One of Silicon Valley’s most prominent venture capital firm founders has joined the list of VCs who departed from their positions this year in the wake of sexual harassment allegations. Steve Jurvetson, co-founder of Draper Fisher Jurvetson (DFJ), confirmed via a Twitter post Monday that he has left the … Continue reading “DFJ Co-Founder Jurvetson Exits Firm Amid Harassment Charges”

Milestones of Innovation 14: The Biggest Damn Firecracker I Ever Saw

At exactly 7 a.m. on Nov. 9, 1967, the roof of the press viewing stand at Cape Canaveral began shaking from what was happening more than three miles from us. The sky seemed to be cracking as a gleaming 363-foot tall rocket began pushing up from Launch Pad 39 and eastward over the Atlantic. As … Continue reading “Milestones of Innovation 14: The Biggest Damn Firecracker I Ever Saw”