[Updated 10/12/17, 4:58 pm. See below.] Amid another sluggish year for tech IPOs, advocates of Boston’s tech scene can breathe a sigh of relief—the area won’t be shut out this year. CarGurus and its stockholders raised about $150.4 million in the company’s initial public offering, marking the Boston area’s first tech IPO of 2017. The Cambridge, … Continue reading “CarGurus Drives Off With $150M in Boston’s First Tech IPO of 2017”
Category: Detroit
Detroit Workspace Aims to Connect Mobility Startups, Auto Industry
Many tech companies are feverishly working to develop self-driving cars and other mobility-related innovations, but that’s only the first step. Once startups have a prototype or working concept, the next step is introducing it to the region’s automotive ecosystem—a complicated web of proprietary projects, collaborations, and legacy relationships that can seem impenetrable to outsiders. A … Continue reading “Detroit Workspace Aims to Connect Mobility Startups, Auto Industry”
Android Founder on VR, Voice & the Future of Human-Machine Collaboration
Within 20 years, computer keyboards will be relegated to the technology dustbin, says Android co-founder Rich Miner. Miner helped shape the smartphone era with Android, a mobile operating system startup that Google acquired in 2005. Android software now powers over 2 billion devices. On Tuesday, Miner spoke at a mobile software developer conference in Boston … Continue reading “Android Founder on VR, Voice & the Future of Human-Machine Collaboration”
FDA To Advisors: What If One-Time Gene Therapy Needs Extra Doses?
In the run-up to a key vote on an experimental gene therapy, the FDA raised no major flags about the drug’s track record but said its long-term effect remains an open question. That question should receive a thorough airing Thursday, when a meeting of FDA outside advisors will weigh a recommendation of the one-shot gene … Continue reading “FDA To Advisors: What If One-Time Gene Therapy Needs Extra Doses?”
Black Fellowship Students Headed From HBCUs to VC Boardrooms
In mid-October, eleven college students will be flying to California for an opportunity that would be the envy of any Ivy League MBA candidate—they’ll meet the venture capital firm partners who will personally mentor them throughout the school year. The students—all but one are undergraduates—come from campuses in Prairie View, Texas; Tallahassee, Florida; and Nashville, … Continue reading “Black Fellowship Students Headed From HBCUs to VC Boardrooms”
VC Funding Surges in Fewer Deals in Third Quarter, and Top 10 Deals
[Updated 10/11/17, 12:25 am. See below.] “More dollars, fewer deals” has been a prevailing trend in venture funding over the past couple of years, and it was evident again in the three months that ended September 30, according to the latest Venture Monitor report. Venture firms invested $21.5 billion in 1,699 startups nationwide during the … Continue reading “VC Funding Surges in Fewer Deals in Third Quarter, and Top 10 Deals”
Blockchain, Banks & the New Web: Q&A With Ethereum Co-founder Lubin
Ethereum co-founder Joe Lubin is calm and soft-spoken when he shares his vision of how blockchain technology and digital currencies could transform the Internet, the global economy, and many aspects of our daily lives. But what he’s talking about could become a raging tempest, and it’s worth paying attention to—especially given the vast sums of … Continue reading “Blockchain, Banks & the New Web: Q&A With Ethereum Co-founder Lubin”
Steve Case’s Rise of the Rest Shines Spotlight on Emerging Tech Hubs
Steve Case, venture capitalist, author, and co-founder of AOL, is preparing to hit the road this week on his sixth Rise of the Rest tour, where he travels to emerging innovation hubs in search of investment-worthy tech startups and to highlight the growth happening outside of places like Silicon Valley and Boston. In the years … Continue reading “Steve Case’s Rise of the Rest Shines Spotlight on Emerging Tech Hubs”
Bio Roundup: Nobel Pursuit, Fundraising Fruit, A Rhythmic IPO & More
The 2017 Nobel Prizes with a biomedical bent were announced this week. Three researchers shared the physiology and medicine prize for their work shining light on the circadian rhythms that govern the wake-and-sleep cycles of all organisms. That basic research is working its way into applications such as drugs that help regulate our body clocks. … Continue reading “Bio Roundup: Nobel Pursuit, Fundraising Fruit, A Rhythmic IPO & More”
Strata Oncology, UCSF Partner to Offer $25M in Free Tumor Sequencing
Ann Arbor, MI-based Strata Oncology this week announced a new partnership with the University of California, San Francisco, to provide $25 million in free tumor sequencing nationwide for men with metastatic prostate cancer. Called StratifyProstate, the initiative aims to dramatically increase enrollment in relevant precision medicine trials, says Strata CEO Dan Rhodes. Despite the significant promise … Continue reading “Strata Oncology, UCSF Partner to Offer $25M in Free Tumor Sequencing”
Could Behavioral Finance Play a Role in Boosting Our Economic Health?
Times are a bit bleak in these United States. Between mass shootings, hurricanes, political turmoil, a resurgent white supremacist movement, threats of a nuclear showdown with North Korea, massive consumer data breaches, and uncertainty over immigration, healthcare, and other major domestic policies, it has not been an easy year for many of us. The resulting … Continue reading “Could Behavioral Finance Play a Role in Boosting Our Economic Health?”
AltspaceVR Finds New Home in Microsoft’s Mixed Reality Ecosystem
AltspaceVR, one of the forerunners of shared social experiences in virtual reality spaces, has been saved from extinction by Microsoft, which announced Tuesday that it is acquiring the four-year-old company. The Redwood City, CA-based startup had sounded its own death knell on July 28, announcing that it planned to shut down Aug. 3 due to the … Continue reading “AltspaceVR Finds New Home in Microsoft’s Mixed Reality Ecosystem”
Celebrating Boston Life Sciences: Xconomy Awards Gala Slideshow
We at Xconomy were thrilled to see such a great turnout at our first-ever Awards Gala—350 people from the Boston life sciences community filled a Hynes Convention Center ballroom. As Bob Buderi, our founder and editor-in-chief, said in his opening remarks on September 26 before a sold-out crowd: We clearly struck a chord. Top scientists, … Continue reading “Celebrating Boston Life Sciences: Xconomy Awards Gala Slideshow”
New Ford Engagement Center to Focus on STEAM Skills, Economic Growth
In 2015, the first Ford Resource and Engagement Center (FREC) opened in Southwest Detroit to provide a place outside of the downtown area for people to learn new skills and develop new talents. A heavy focus was put on programs that involved STEAM—that’s STEM (science, technology, engineering, and mathematics) plus an “A” for arts—and economic … Continue reading “New Ford Engagement Center to Focus on STEAM Skills, Economic Growth”
Curious About Angel Investing? Experts Offer Perspective
Startup companies are reshaping many parts of our nation—Detroit included. The city is transforming itself into a hub for digital manufacturing, self-driving cars, and automotive software and technologies. External attention on Detroit is ramping up, as organizations like Techstars Mobility raise the region’s profile and events like Steve Case’s Rise of the Rest tour, taking … Continue reading “Curious About Angel Investing? Experts Offer Perspective”
Accelerate Michigan Innovation Competition
One of the state’s biggest events for startups and venture investors is back, as growth-stage companies compete for up to $1 million in cash and in-kind prizes, including a $500,000 grand prize. The competition also offers plenty of opportunities for entrepreneurial networking. For details, click here.
TiECon Detroit: Ignite2Disrupt
Explore the world of digital connectivity across a variety of industries at this annual event, which also includes a mobility startup competition. Keynote speakers and panel discussions will cover everything from talent and immigration to smart cities and cryptocurrencies. To learn more, click here.
Michigan Drone Conference
Eastern Michigan University hosts this event featuring local experts in unmanned systems and representatives from ASSURE, the FAA’s drone research center, who will be on hand to showcase new partnerships, resources, and potential funding opportunities. For details and registration, click here.
Integr8
Automation Alley hosts this global conference dedicated to the technologies shaping the future. Topics include robotics, artificial intelligence, cybersecurity, the Internet of Things, advanced manufacturing, and more. Experts will lead panel discussions and breakout sessions. For more information, click here.
TechTown Detroit’s Toast of the Town
Join roughly 400 movers and shakers at this gala celebrating entrepreneurship in Detroit. At the event, TechTown will announce the winners of the Salute Awards, which recognize the local startup ecosystem’s “rock stars.” For tickets and more information, click here.
Techstars Mobility Demo Day
The 11 companies in the 2017 Techstars Mobility cohort will pitch their startups on stage to a crowd of investors, entrepreneurs, and mobility experts. There will also be networking opportunities and panel discussions. For details and registration, click here.
gBETA, Gener8tor’s Free Accelerator Program, Is Expanding to Detroit
Gener8tor, a Wisconsin-based organization that holds training programs for startups and invests in them, will soon hold its first program in Michigan, if its website is any indication. gBETA is a series of free, seven-week accelerator programs run by Gener8tor that help entrepreneurs with things like pitching their products, adding users and customers, and raising … Continue reading “gBETA, Gener8tor’s Free Accelerator Program, Is Expanding to Detroit”
Twitter Joins Facebook in Political Hot Seat Over Election Hacking
Ordinarily, Twitter’s announcement that some of its users can now send tweets twice as long as its signature 140-character limit, and that this freedom could be broadened to others, would have been the company’s top news of the week. But instead, Twitter, like Facebook before it, is under the national microscope as government investigations of … Continue reading “Twitter Joins Facebook in Political Hot Seat Over Election Hacking”
Bio Roundup: Graham-Cassidy, Axovant Fail, SpringWorks Launches & More
After drug pricing, count drug shortages among the hot button issues sparking patient ire. Last year, the FDA says, 23 drug shortages were reported, down from 26 the previous year (and 251 in 2011). But Hurricane Maria’s direct strike on Puerto Rico might put the progress made on reducing shortages to the test. The Pharmaceutical … Continue reading “Bio Roundup: Graham-Cassidy, Axovant Fail, SpringWorks Launches & More”
Roundup: Kyyba Pitch Club, Hygieia, W. Michigan Startup Data & More
Here’s a look at startup news, business competition deadlines, new products, and more from around Michigan’s tech ecosystem: —Detroit’s WeWork location will host UPS’s X-Port Challenge, where startups can pitch their products or solutions and win up to $10,000 in export shipping credits. Each regional winner will then have the opportunity to participate in a … Continue reading “Roundup: Kyyba Pitch Club, Hygieia, W. Michigan Startup Data & More”
As Self-Driving Car Partnerships Multiply, Ford and Lyft Join Forces
For most of its existence, the automotive industry has been secretive, siloed, and steeped in cut-throat competition. However, as autonomous vehicle collaborations proliferate, the old-school approach is quickly falling by the wayside. That was evident in a pair of blog posts published late Tuesday that spelled out a new partnership between Ford and San Francisco-based … Continue reading “As Self-Driving Car Partnerships Multiply, Ford and Lyft Join Forces”
CarePRN App Helps Families Find Home Health Workers, Avoid Burnout
On November 15, 2014, my life was turned upside down—but that was nothing compared to what my father was going through. That day, he woke up from back surgery with terrifying hallucinations, and started showing signs of psychosis and paranoia that didn’t go away. Instead, it got worse. As he bounced back and forth between … Continue reading “CarePRN App Helps Families Find Home Health Workers, Avoid Burnout”
Google, Apple Offer Salvation from the Horrors of Autoplay
Tech giants are under a lot of pressure these days to make the world a better place—to ferret out Russian hackers trying to fix elections; to combat gender bias in hiring; to stamp out sexual harassment; and to lend their voices to the protests over President Trump’s immigration policies. Despite efforts they’ve made on these … Continue reading “Google, Apple Offer Salvation from the Horrors of Autoplay”
The Winners of the 2017 Xconomy Awards Are…
We are excited to announce the recipients of the first-ever Xconomy Awards. Big Idea Bridge Project The Bridge Project was hatched by MIT’s Koch Institute for Integrative Cancer Research in Cambridge and the Dana-Farber/Harvard Cancer Center in Boston to fund collaborative research between cancer researchers from MIT and Harvard-affiliated hospitals and schools. Its aim is … Continue reading “The Winners of the 2017 Xconomy Awards Are…”
Trump Orders Up $200M a Year for STEM, Coding Education
President Donald Trump, who has had a rocky relationship with tech companies during his short administration so far, announced an education initiative Monday that apparently met with their approval. In a White House ceremony, Trump directed his education secretary to allocate at least $200 million a year to fund student access to coursework in science, … Continue reading “Trump Orders Up $200M a Year for STEM, Coding Education”
Ushr, Spun Out of GeoDigital, Pursues Piece of Autonomous Vehicle Pie
Ushr, a Livonia, MI-based company making high-definition mapping software for autonomous vehicle applications, announced last week that it has raised $10 million in a Series A round. The investment was led by Forte Ventures, with participation from EnerTech Capital, Emerald Technology Ventures, and GM Ventures. Ushr was spun out of a 20-year-old venture called GeoDigital, … Continue reading “Ushr, Spun Out of GeoDigital, Pursues Piece of Autonomous Vehicle Pie”
Xconomy Q&A: Todd Schulte of Tech Immigration Advocacy Org FWD.us
[Updated 9/25/17, 1:55 p.m. Clarified 9/27/17, 10:01 a.m. See below.] Immigration policy has always been important to the tech industry, but this year is different. Under a steady barrage of nationalist, anti-immigrant policies promulgated by the Trump administration, the tech industry has been forced to respond like never before, in the halls of Congress, the … Continue reading “Xconomy Q&A: Todd Schulte of Tech Immigration Advocacy Org FWD.us”
Low-Hanging Fruit Gone, Ag & Food Tech Investors Pay More for Deals
[Updated 9/25/17, 5:18 pm. See below.] Food delivery startups are catching on with more consumers, and that demand is whetting investor appetites. The $400 million that grocery delivery startup Instacart raised in March marked the largest deal for a U.S. food technology company in the first half of the year, according to new data from … Continue reading “Low-Hanging Fruit Gone, Ag & Food Tech Investors Pay More for Deals”
Bio Roundup: RNAi’s Big Day, CAR-T For Kids, Drugs From Fungi & More
It’s been a year of biomedical milestones in the U.S., including the first approval of a CAR-T cellular immunotherapy, the first smartphone app to treat substance abuse, and the first approval of a cancer drug based on genetic signature instead of the tumor’s organ of origin. Add to the list the first successful Phase 3 … Continue reading “Bio Roundup: RNAi’s Big Day, CAR-T For Kids, Drugs From Fungi & More”
Nathan Myhrvold: The Full Xconomy Voices Interview
Episode 3 of our new podcast, Xconomy Voices, features a conversation about nuclear power with Nathan Myhrvold, the founder and CEO of Intellectual Ventures. The former Microsoft chief technology officer is now vice chairman of TerraPower, a Bellevue, WA-based spinout of Intellectual Ventures that aims to revive commercial nuclear energy. The company is researching next-generation … Continue reading “Nathan Myhrvold: The Full Xconomy Voices Interview”
Would a Binational Detroit-Windsor Amazon HQ2 Bid Be a Game-Changer?
Just about all of North America has been abuzz over Amazon’s search for a second headquarters. Dubbed HQ2, the project is expected to bring billions in investment capital to the winner, along with up to 50,000 jobs. Like virtually every major city in America, Detroit is planning to toss its hat into the ring. But unlike … Continue reading “Would a Binational Detroit-Windsor Amazon HQ2 Bid Be a Game-Changer?”
Xconomy Voices, Episode 3: Nathan Myhrvold and TerraPower
We’re pleased to bring you the third episode of Xconomy Voices, our new podcast featuring conversations with entrepreneurs, innovators, and investors from Xconomy’s home cities and regions. This week our guest is Nathan Myhrvold, the former Microsoft chief technology officer who, since 2000, has headed Intellectual Ventures, a Bellevue, WA-based firm that buys, develops, and … Continue reading “Xconomy Voices, Episode 3: Nathan Myhrvold and TerraPower”
Humatics, $18M Richer, Aims to Equip Robots with Microlocation Tech
A Boston-area robotics firm is starting to make its first big moves. Cambridge, MA-based “microlocation” startup Humatics announced this week it has completed an $18 million Series A funding round. Detroit-based Fontinalis Partners led the investment, with participation from Airbus Ventures, Lockheed Martin Ventures, Intact Ventures, Tectonic Ventures, Presidio Ventures, Blue Ivy Ventures, and others. … Continue reading “Humatics, $18M Richer, Aims to Equip Robots with Microlocation Tech”
NVCA Sues Trump Administration for Delaying “Startup Visa” Program
Add another item to the list of tech industry beefs with the new crew in the White House. An organization representing venture capital firms filed a federal suit in Washington, DC, on Tuesday accusing Trump Administration officials of unlawfully delaying a program that would have allowed international entrepreneurs to work at companies they founded within … Continue reading “NVCA Sues Trump Administration for Delaying “Startup Visa” Program”
On CAR-T’s Edge, Seattle Researchers Plot to Bypass Novartis Therapy
[Corrected, 10/10/17, 2 p.m. ET. See below.] It’s not a stretch to say that Greta Oberhofer is alive thanks to the genetically modified cell therapy called CAR-T. At three and a half months old, she was diagnosed with acute lymphoblastic leukemia, or ALL, an aggressive blood cancer. At 10 months old, she had a bone … Continue reading “On CAR-T’s Edge, Seattle Researchers Plot to Bypass Novartis Therapy”
Amazon Should Bypass States That Have Laws Pandering to Hate-Mongers
Instead of extolling the many virtues of southeast Michigan as a possible location for Amazon’s new headquarters, I will instead suggest why some of the other locations being considered are not advisable. Many of the cities being talked about, such as Boston; Toronto; Washington, DC; and Chicago, are strong contenders. They have the necessary infrastructure, … Continue reading “Amazon Should Bypass States That Have Laws Pandering to Hate-Mongers”
After Staring Down Adversity, Detroit is Perfect Place for Amazon HQ2
Detroit. There’s no mid-sized American city as revered, as iconic, as talked about as Detroit. That’s because no other city has symbolized America quite like it, or played a bigger role in shaping what we are as a nation. And the intertwining of Detroit with the future of America will become even clearer when it … Continue reading “After Staring Down Adversity, Detroit is Perfect Place for Amazon HQ2”
Pitch.me Allows Salespeople to Put Their Money Where Their Mouth Is
Jackson, MI, is a city of roughly 35,000 people situated 40 miles west of Ann Arbor. It’s known for a few things: It was the birthplace of the Republican Party; a center of automotive manufacturing before Detroit became dominant; and the location of Michigan’s first Coney Island restaurant. What Jackson is not, usually, is a … Continue reading “Pitch.me Allows Salespeople to Put Their Money Where Their Mouth Is”
Bio Roundup: Phase 3 Fails, Shkreli Jailed, Moderna Flip-Flops & More
It was a week of realignments. President Trump, who used to be known as “The Donald” but now goes by “Amnesty Don,” kept up the parlay-voo with his new friends Chuck and Nancy. Martin Shkreli, who was once known—and still is!—as the “pharma bro,” will have a new perspective for a while, through the bars … Continue reading “Bio Roundup: Phase 3 Fails, Shkreli Jailed, Moderna Flip-Flops & More”
After Equifax: Should Tech Entrepreneurs Design the Next-Gen Credit Agency?
Personal financial data for as many as 143 million Americans, inadequately guarded by credit bureau Equifax and stolen by hackers, can never be sheltered again under an umbrella of privacy. Those victims could face dire consequences, such as raids on their bank accounts and identity theft, for the rest of their lives. The losses for … Continue reading “After Equifax: Should Tech Entrepreneurs Design the Next-Gen Credit Agency?”
GM, Ford, BAE Systems Up the Self-Driving Ante with New Advances
Things are moving quickly in the mobility sector as the race to develop autonomous vehicle technologies revs up. This week brought a spate of mobility news from GM and Cruise, Ford, BAE, and even the federal government. Read on for details. —The Detroit News published a detailed report this week regarding Ford’s Silicon Valley lab, … Continue reading “GM, Ford, BAE Systems Up the Self-Driving Ante with New Advances”
Education Is Unbundling—Three Key Trends to Watch
Technology in the classroom has come a long way since its advent in the 1920s, when teachers would air radio broadcasts about topics relevant to their lesson plans. Ten years later, in the 1930s, the overhead projector debuted to display material for the whole class to see all at once, followed by the launch of … Continue reading “Education Is Unbundling—Three Key Trends to Watch”
Xconomy Award Finalists in the Eye of the National Drug Price Debate
[Corrected 12:20pm ET; see below.] The national debate over the high cost of healthcare, with prescription drugs at the center, resonates from the chambers of Congress to every American’s pocketbook. And it’s growing fiercer by the day. Last week, the first genetically modified cell therapy came to market with a price tag of $475,000. This … Continue reading “Xconomy Award Finalists in the Eye of the National Drug Price Debate”
Akadeum Scores $1.5M to Advance Microbubble Cell-Sorting Technology
Akadeum Life Sciences, a cell-sorting startup based in Ann Arbor, MI, has raised nearly $1.5 million in new capital from a mix of Midwestern and Silicon Valley investors. The round was led by Belmont, CA’s BioInfleXion Point Partners, with contributions from 5 Prime Ventures, the University of Michigan’s MINTS program, Invest Detroit, eLab Ventures, and … Continue reading “Akadeum Scores $1.5M to Advance Microbubble Cell-Sorting Technology”
Tome, Trek Collaborate on Using A.I. to Avoid Bike-Vehicle Collisions
After Jake Sigal’s first startup, Livio, was acquired by Ford in 2013, he knew he wanted to stay in the realm of connected cars with his next venture. At the time of acquisition, Sigal’s company was developing software to enable in-vehicle connectivity, the infotainment-heavy roots of today’s autonomous vehicle innovations. Back then, he saw that … Continue reading “Tome, Trek Collaborate on Using A.I. to Avoid Bike-Vehicle Collisions”