Global Detroit, Techtown Detroit, Techstars, the Michigan Economic Center, and Venture for America co-host this summit to discuss the importance of mobilizing Southeast Michigan’s immigrant potential for a prosperous economic future. Brad Feld, co-founder of Techstars, will be the keynote speaker via video conferencing. Panel discussions will also be held about attracting international talent and … Continue reading “Global Detroit Champions for Growth Summit”
Category: Detroit
After $1M NEI Grant, ONL Therapeutics Closer to Clinical Trials
ONL Therapeutics, the Ann Arbor, MI-based biotech startup working on sight-preserving therapies for patients with retinal diseases, is one step closer to clinical trials, thanks to a cash infusion from the National Eye Institute (NEI). Last week, the NEI awarded ONL a $1 million Commercialization Readiness Pilot grant to continue advancing ONL1204, the company’s lead … Continue reading “After $1M NEI Grant, ONL Therapeutics Closer to Clinical Trials”
Cibo Technologies Grabs $30M for Agricultural Data Analytics
Cibo Technologies, an agricultural technology startup incubated by Flagship Pioneering’s VentureLabs unit, has raised $30.25 million in equity funding from investors, according to a new SEC filing. The Cambridge, MA-based firm makes data analytics software that aims to improve decision-making in agriculture. Some of the uses include helping farmers maximize their crop yields while reducing … Continue reading “Cibo Technologies Grabs $30M for Agricultural Data Analytics”
Michigan Might Hold Lessons for Improving Wisconsin’s VC Climate
Wisconsin and Michigan share a border, but there’s a significant gap between the two states in the amount of money investors are putting into startups based there each year. Following the recent decision to reboot the Wisconsin Venture Capital Association, which happened in part because a Madison, WI-based VC firm has a satellite office in … Continue reading “Michigan Might Hold Lessons for Improving Wisconsin’s VC Climate”
Bio Roundup: Trumpcare Wavers, Amgen Courts Payers, Critics Circle PTC
Who knew healthcare could be so complicated? This week, President Trump and the GOP saw first hand, as a feverish rally to get their healthcare bill through the House of Representatives on Thursday stalled before a vote. Elsewhere in Washington DC, drug pricing continued to be a political football. Two well known congressional drug pricing … Continue reading “Bio Roundup: Trumpcare Wavers, Amgen Courts Payers, Critics Circle PTC”
Amid Gender Gap Talk, Mentor Network Emerges For Women In Health, Bio
It’s been more than a year since an infamous party with hired models in cocktail dresses captured the biotech community’s attention at the 2016 J.P. Morgan conference. There has been plenty of talk since about closing biotech’s notable gender gap. At this year’s J.P Morgan conference, for example, a group of 100 life science executives … Continue reading “Amid Gender Gap Talk, Mentor Network Emerges For Women In Health, Bio”
Building a Local Innovation Ecosystem
Co-authored with Rudy Gadre, general partner at Founders’ Co-op. Western Washington is already home to some of the most innovative people, companies, and academic programs in the world. And yet we should be doing much more to connect and support our local innovators, to attract more agents of change to the region, and to help them … Continue reading “Building a Local Innovation Ecosystem”
Detroit Fintech Startup Autobooks Closes $5.5M Series A Round
Autobooks, the Detroit-based startup spun out of Billhighway in 2015, has closed on a $5.5 million Series A funding round. The investment was led by Pittsburgh-based Draper Triangle, with participation from CU Solutions Group, Baird Capital, Detroit Venture Partners, and Invest Michigan. Autobooks’s software is designed to be integrated with online banking platforms to serve … Continue reading “Detroit Fintech Startup Autobooks Closes $5.5M Series A Round”
Texas Roundup: SXSW Odds & Ends, Dosh, Mythic, Peloton, & More
[David Holley contributed to this report.] We’re not through with South By Southwest yet. (And, also, yes, there has been some other innovation news at Xconomy Texas.) Read on: —FBI Director James Comey is part of an intelligence symposium Thursday at the University of Texas at Austin. This engagement comes about a week after Comey … Continue reading “Texas Roundup: SXSW Odds & Ends, Dosh, Mythic, Peloton, & More”
Join David Baltimore, Nicole Glaros, Nathan Myhrvold, & More at Our Napa Summit
Year after year, Xconomy has gathered exemplary business leaders, investors, and far-seeing technologists to our most prestigious event—The Napa Summit. This year is no different. Come join us in the heart of wine country on June 8 and 9 to listen to visionary speakers and connect with fellow innovators. The Napa Summit is by invitation-only, … Continue reading “Join David Baltimore, Nicole Glaros, Nathan Myhrvold, & More at Our Napa Summit”
Mythic Reveals Novel Chip to Empower Devices With AI, Raises $9M
With ever-smaller smartphones now flaunting the computing powers of yesteryear’s hefty business machines, it might look like Moore’s Law has yet to be repealed. In 1965, Intel co-founder Gordon Moore saw computer chips doubling in processing power every year, and predicted the exponential rise of smaller, cheaper, and faster devices. But Michael Henry, co-founder of … Continue reading “Mythic Reveals Novel Chip to Empower Devices With AI, Raises $9M”
Tech Exec Ahmed Rubaie on Trump’s Travel Ban and Silicon Valley
In late January, when President Donald Trump’s first executive order banning all refugees and travelers from seven Muslim-majority countries was announced, Ahmed Rubaie’s mother-in-law was out of the country visiting Jordan. Although his mother-in-law is a green card holder, and Jordan wasn’t included in the ban, Rubaie’s wife was beside herself. She began making frantic … Continue reading “Tech Exec Ahmed Rubaie on Trump’s Travel Ban and Silicon Valley”
Wrapify Q&A: Adhesive Giant Puts $3M in Car Advertising Schtick
After the adhesive products maker Avery Dennison (NYSE: [[ticker:AVY]]) recently made a $3 million investment in San Diego-based Wrapify, we tracked down Wrapify CEO James Heller, and stuck him with a few questions about the deal. Heller founded Wrapify in early 2015 with the idea of creating a business that would pay motorists to wrap … Continue reading “Wrapify Q&A: Adhesive Giant Puts $3M in Car Advertising Schtick”
Talking Driverless Cars, March Madness on Stocks and Jocks Radio
I hit the airwaves Friday morning to talk venture capital, startups, self-driving cars, and March Madness. Stocks and Jocks, a Chicago-based weekday business and sports talk radio program, invited me on the show to share my thoughts on some of the latest trends in the startup world. Hosts Tom Haugh and Kathy Dervin bantered with … Continue reading “Talking Driverless Cars, March Madness on Stocks and Jocks Radio”
Bio Roundup: Trump Budget, FDA Chief, CAR-T Qs, CRISPR Cash, & More
If it wasn’t clear that the Trump administration disdained most types of scientific inquiry and practice, the White House’s proposed budget drove the point home. The top-line figures: a nearly 20 percent cut in the National Institutes of Health, and a 30 percent cut in the Environmental Protection Agency. These and other cuts to programs … Continue reading “Bio Roundup: Trump Budget, FDA Chief, CAR-T Qs, CRISPR Cash, & More”
Machine Learning 201: Exploring the Market for New Business
2016 will be remembered for many things, not least as the year that AI and machine learning stepped into the technological and cultural spotlight. Advances in applied machine learning fueled our enthusiasm for smarter, more talkative devices. It impacted how we learned about and processed the news—and fake news—of the national elections. Automation grew in … Continue reading “Machine Learning 201: Exploring the Market for New Business”
Detroit’s HAAS Alert Links Motorists to 911 Responders, Smart Cities
HAAS Alert, the Techstars Mobility alum with offices in Detroit and Chicago, is one of three startups spending the first six months of 2017 at the Jaguar Land Rover Tech Incubator in Portland, OR. HAAS Alert has been working on a mobile platform for connected cars and smart cities that allows first responders and other … Continue reading “Detroit’s HAAS Alert Links Motorists to 911 Responders, Smart Cities”
Tax Reform and Choice of Business Entity
Choice of entity—how an entrepreneur decides to conduct the business—is a key decision with critical tax and non-tax implications. In the coming months, the White House is expected to release a detailed tax reform plan which, among other things, may include a significant reduction in corporate tax rates. If the anticipated changes are adopted, should … Continue reading “Tax Reform and Choice of Business Entity”
Airlines Must Improve IT Infrastructure Now or Pay Later
At the tail end of this past holiday season—on one of the busiest travel days of the year—thousands of arriving international passengers found themselves stuck for hours in the line at customs, waiting to be processed. It wasn’t a terror alert, mechanical failure, or nefarious cyberattack that caused long lines and huge delays for travelers … Continue reading “Airlines Must Improve IT Infrastructure Now or Pay Later “
Possible Cures. Mystery Deaths. Daunting Costs. Can CAR-T Be Tamed?
It’s a struggle that comic-book fans know well. Ordinary people, bestowed with super powers from a spider bite or gamma rays, struggle to harness their own abilities. T cells, key soldiers of the immune system, are wrestling with new-found super powers, too. Certain T cells hunt down invasive viruses, bacteria, and the body’s own bad … Continue reading “Possible Cures. Mystery Deaths. Daunting Costs. Can CAR-T Be Tamed?”
The Dot Targets Millennial Women with Monthly “Party Box” for Periods
It was a great boyfriend—a candidate for Guy of the Year and definitely husband material, in this reporter’s estimation—who inspired a new startup based in Grand Rapids, MI, called The Dot. Every month during college, when founder and CEO Anais Felt got her period, her boyfriend at the time would show up with a box … Continue reading “The Dot Targets Millennial Women with Monthly “Party Box” for Periods”
Scott Gottlieb On Tap to Lead FDA, and Biopharma Exhales
[Updated 3/12/17 with more comments, see below] The Trump administration has nominated Scott Gottlieb to be the new commissioner of the FDA, a selection that had the life sciences industry breathing a sigh of relief Friday afternoon. The 44-year-old Gottlieb is a physician, a venture partner at New Enterprise Associates, and was also the deputy … Continue reading “Scott Gottlieb On Tap to Lead FDA, and Biopharma Exhales”
Biotech Roundup: Obamacare Lite, DePinho Out, Dunsire In & More
We’ll start the roundup in Washington DC. The repeal of the Affordable Care Act, also known as Obamacare, began on the first day of the Trump administration. This week, the “replace” phase began with a Republican plan championed by House Speaker Paul Ryan (R-WI). President Trump backed it, too, but a lot of Republicans have … Continue reading “Biotech Roundup: Obamacare Lite, DePinho Out, Dunsire In & More”
Capital Factory Starts Mobility Accelerator with Daimler’s Moovel
Austin—Capital Factory is launching a new accelerator program with moovel North America, which is part of a company founded by Mercedes-Benz maker Daimler AG, for startups that have technology targeting the transportation sector. Called MobilityX and based at Capital Factory’s co-working space in Austin, TX, the accelerator aims to give Daimler input, connections, and potential … Continue reading “Capital Factory Starts Mobility Accelerator with Daimler’s Moovel”
Will Driverless Cars Ever Yield Profits for Uber and Lyft?
Uber has suffered a series of troubles early this year, from sexual harassment claims by a former staff engineer to an intellectual property theft lawsuit by Google unit Waymo. But Uber’s most longstanding, recurrent, and core problem stems from its relationship with its contract drivers. It’s not surprising that Uber is seeking an escape from … Continue reading “Will Driverless Cars Ever Yield Profits for Uber and Lyft?”
Toyota and Others Enabling Self-Driving Cars to Talk to Each Other
Drivers have plenty of ways to communicate with their fellow drivers, beyond the basic turn signal. Some methods are nice, like a friendly wave to beckon a merging car into your lane. Others, not so much. We’ve all probably cursed or honked at another driver, or been given the finger. But if driverless cars become … Continue reading “Toyota and Others Enabling Self-Driving Cars to Talk to Each Other”
Immigrants Are the Best of Humanity and the Strength of Our Nation
[Editor’s note: This post was adapted from Mohamad Ali’s speech at a naturalization ceremony at the JFK Library in Boston on March 8, 2017.] My fellow immigrants, buenas tardes, masa-al-khayr, and good afternoon! I am deeply moved by the opportunity to be here today, to share this momentous occasion with you, and to personally return … Continue reading “Immigrants Are the Best of Humanity and the Strength of Our Nation”
Roundup: Fuyao, WSU Translational Research, Deadlines Galore & More
Here’s a look at innovation news from around Michigan: —Wayne State University has appointed Phillip Levy, a doctor and professor of emergency medicine, to head up its new Translational Science and Clinical Research Innovation program. Housed in WSU’s Integrative Biosciences Center, the Center for Translational Science and Clinical Research Innovation will become the hub of campus-wide … Continue reading “Roundup: Fuyao, WSU Translational Research, Deadlines Galore & More”
Three Ways to Bolster The Innovation Ecosystem for Women
When the topic of encouraging more female leadership in the startup economy arises, discussions usually center on what women entrepreneurs should do differently. How they should present with greater authority, or how they should “dress the part” for their next investor pitch. Put frankly, how they should adopt any manner of different behaviors. I would … Continue reading “Three Ways to Bolster The Innovation Ecosystem for Women”
How Boragen Banked $10M to Develop New Boron-Based Fungicides
No matter what pharmaceutical companies throw at bacteria and fungi, the microorganisms find ways to get ahead. Their ability to mutate and reproduce quickly gives rise to new generations resistant to anti-infective drugs. Fungal resistance also troubles farmers, but they’ve had few new crop treatments to choose from, in part because agricultural technology investment has … Continue reading “How Boragen Banked $10M to Develop New Boron-Based Fungicides”
Bio Roundup: Healthcare Is Hard, “Slow” FDA, Drugging RNA & More
In an address to Congress this week, President Donald Trump outlined many of his near-term goals, including an overhaul of the Affordable Care Act, also known as Obamacare, even as public opinion has begun to shift in favor of the law. Trump toned down his typical blunderbuss rhetoric, but he had choice words for the … Continue reading “Bio Roundup: Healthcare Is Hard, “Slow” FDA, Drugging RNA & More”
Capital Stockpile Grows as Venture Fund-Raising Hits Recent High
In the venture capital business, a rising tide lifts all boats. That’s the idea, at least. A new report released today by Seattle-based PitchBook shows that U.S. venture firms have plenty of capital to invest in new companies, after 328 venture funds raised a total of $51.6 billion in 2016. That’s a high-water mark for … Continue reading “Capital Stockpile Grows as Venture Fund-Raising Hits Recent High”
Snap Raises $3.4B in IPO, Soaring Trades Set Value Past $20B
Snap, which rose to unicorn status based on a social media app that creates quickly vanishing photos, attracted solid investor interest in an IPO that raised $3.4 billion and sent shares up more than 50 percent above the initial offering price during the first day of trading today. Snap (NYSE: [[ticker:SNAP]]) priced its IPO shares … Continue reading “Snap Raises $3.4B in IPO, Soaring Trades Set Value Past $20B”
Trump and Kalanick: Twin Chief Executives Face Similar Problems
In the rinse-repeat rhythm of Uber’s PR crises, it’s easy to miss that this particular cycle has been a long one. Uber’s latest wave of negative press began in January with a backlash against CEO Travis Kalanick’s role on President Donald Trump’s White House business advisory panel. There’s some irony here, because Trump and Kalanick … Continue reading “Trump and Kalanick: Twin Chief Executives Face Similar Problems”
Detroit, Silicon Valley Collaborate on Path to Self-Driving Cars
As the race to get autonomous vehicles on the road revs up, there has been much discussion in the auto industry about who will lead the charge. Because of the new technologies involved in the development of self-driving cars, many initially assumed that Silicon Valley would take the driver’s seat instead of Detroit. But it’s … Continue reading “Detroit, Silicon Valley Collaborate on Path to Self-Driving Cars”
Former FDA Commissioners Califf, McClellan Talk Healthcare’s Future
The top spot at the FDA remains vacant, and the change in presidential power has some healthcare observers wondering about possible changes for the regulator. One month removed from serving as FDA commissioner, Robert Califf says the agency can be improved through a combination of precedent, experience, and evidence. Califf, who served less than one … Continue reading “Former FDA Commissioners Califf, McClellan Talk Healthcare’s Future”
Founders of Grand Ventures Double Down on Michigan Startup Growth
Early-stage tech entrepreneurs in Michigan now have a new source of investment capital to chase. Grand Rapids, MI-based Grand Ventures, established earlier this month by McKeel Hagerty of Hagerty Insurance and Huron River Ventures’ Tim Streit, will provide support to high-growth tech startups focused on agriculture, manufacturing, transportation, and other industries with strong Midwest presence, … Continue reading “Founders of Grand Ventures Double Down on Michigan Startup Growth”
Bio Roundup: Trump Backlash, Verdine Plans, Sarepta Sale & More
A short week makes for a shorter roundup. As we’ve come to expect, however, there was no dearth of health and life-sciences news from Washington, D.C. A bipartisan group of Congress members who oversee health policy countered President Donald Trump’s encouragement of vaccine skeptics; the real test will be the upcoming budget’s funding of Centers … Continue reading “Bio Roundup: Trump Backlash, Verdine Plans, Sarepta Sale & More”
Clinc Raises $6.3M Series A to Help Take Financial A.I. to Market
Clinc, an artificial intelligence startup spun out of the University of Michigan, announced this week that it has raised a Series A round worth $6.3 million, just six months after closing on a $1.2 million seed round. The new round was led by Drive Capital, with contributions from Hyde Park Venture Partners, Ann Arbor, MI-based … Continue reading “Clinc Raises $6.3M Series A to Help Take Financial A.I. to Market”
Bowery Bags $7.5M to Break Into Fast-Growing Indoor Farming Market
[Updated 2/23/2017 11:21 am] City real estate comes with premium prices, so the best way for developers to get the most out of limited space is by building skyward. The same approach holds true in urban agriculture. As vertical farms catch on in more cities, new agtech startup Bowery is entering the market backed by … Continue reading “Bowery Bags $7.5M to Break Into Fast-Growing Indoor Farming Market”
Sexual Harassment Claims Add to Turbulent Times for Uber
For the second time in less than a month, Uber CEO Travis Kalanick found himself fending off critical questions from his own employees at a Tuesday company-wide meeting. The last time, Kalanick was trying to justify remaining on President Trump’s economic advisory council after Trump issued a sudden travel ban against refugees and people from … Continue reading “Sexual Harassment Claims Add to Turbulent Times for Uber”
Amazon, Uber, and Bill Gates’s Robot Tax: An Automation Snapshot
As we gear up for Robo Madness 2017: A.I. Gets Real, our annual robotics and artificial intelligence conference at Google’s offices in Kendall Square, let’s connect a few dots around the topic of automation. In just the past day or two: —Uber has started testing self-driving cars in Tempe, AZ, after having its tests banned … Continue reading “Amazon, Uber, and Bill Gates’s Robot Tax: An Automation Snapshot”
Genomenon’s Software Seeks to Give Geneticists Faster Insights
Genomenon, a University of Michigan spinout developing analytics and data visualization software for the genomics industry, released its first product last week: software designed to simplify the process of interpreting gene variants. Called Mastermind, the software is a tool that automatically combs through millions of journal articles and medical publications; its goal is to drastically … Continue reading “Genomenon’s Software Seeks to Give Geneticists Faster Insights”
Lumina Foundation Gives Odds For Edtech Innovation Under Trump
[Corrected 2/22/17, 9:35 am. See below.] Bipartisanship hasn’t exactly been the watchword in Washington over the past month as the new Trump administration grapples with stalled nominations, court battles over its travel ban, and investigations of campaign contacts with Russia. But deeply divided politicians may still find some common ground over education policy—in ways that … Continue reading “Lumina Foundation Gives Odds For Edtech Innovation Under Trump”
Bio Roundup: CRISPR Drama, Marathon and PhRMA, the Price of Vision & More
News may be coming out of Washington, DC, at a breakneck pace, but concrete plans regarding the future of the nation’s healthcare system, the FDA, and the pharmaceutical industry have been much slower to materialize. The consternation about President Donald Trump’s coming pick for FDA commissioner was palpable this week at the BIO CEO & … Continue reading “Bio Roundup: CRISPR Drama, Marathon and PhRMA, the Price of Vision & More”
FarmLogs Co-Founder on Growth, Agronomics, and U.S. Ag Policy
Ann Arbor, MI-based agtech company FarmLogs has been one of the fastest-growing startups in the state since its launch in 2012. Last month, it closed a $22 million Series C round led by Naspers Ventures, a global investing giant focused on companies addressing big societal needs in high-growth markets. FarmLogs has developed software that enables … Continue reading “FarmLogs Co-Founder on Growth, Agronomics, and U.S. Ag Policy”
With “Go,” Amazon Identifies Another Job It Can Do Better
Early last year, I “fired” talk radio along with NPR’s morning and evening editions. That same day, I “hired” Amazon Audible as my commute companion. It wasn’t a difficult decision. Audible is far better than its predecessors at doing the job I need done as I travel to and from my office – provide on-demand … Continue reading “With “Go,” Amazon Identifies Another Job It Can Do Better”
Fintech VC Backing Dipped 13 Percent in 2016, Mirroring Rest of Tech
The final numbers on 2016 fintech funding deals are in from New York-based research firm and investment database CB Insights, and venture capitalists seem to be cooling on the industry. According to a report released today, financial technology companies around the world attracted $12.7 billion in venture capital across 836 investments last year. That is … Continue reading “Fintech VC Backing Dipped 13 Percent in 2016, Mirroring Rest of Tech”
FDA Turmoil, Biology Mystery On List Of Hurdles For Microbiome Drugs
In three years, investment has jumped more than twenty-fold in startups developing medicines that change the interactions between our bodies and the bacteria that colonize it, known collectively as the human microbiome. But as a panel of industry insiders noted yesterday at the BIO CEO & Investor Conference Monday, the field faces several challenges—including lack … Continue reading “FDA Turmoil, Biology Mystery On List Of Hurdles For Microbiome Drugs”
Dear Tom Price: Bundled Payments Help Patients and Reduce Costs
With all the talk of repealing Barack Obama’s Affordable Care Act (ACA), people have been taking a closer look at what the law has done for our healthcare system. It turns out the ACA is about a lot more than the problematic healthcare marketplaces. There’s the extension of parental insurance coverage to age 26 and … Continue reading “Dear Tom Price: Bundled Payments Help Patients and Reduce Costs”