The annual campus-wide, multi-round student business plan competition is back for a final session. Student startup teams will compete for $85,000 in prizes and will get feedback from local investors along the way. For more information, click here.
Category: Detroit
Senate Confirms Price for HHS, But Stock Deals Still Raise Questions
The Senate confirmed Tom Price as Secretary of the U.S. Department of Health and Human Services early Friday morning by a 52-47 vote that, as expected, fell largely on party lines. Price is an orthopedic surgeon by training who has been a member of Georgia’s congressional delegation since 2004. He will now oversee a department that … Continue reading “Senate Confirms Price for HHS, But Stock Deals Still Raise Questions”
Bio Roundup: Travel Ban Block, Gilead Shock, Dean Kamen Talk & More
The biotech community pushed back against President Donald Trump’s order to block travelers and refugees this week, and not much later, a federal court did, too. Patient advocates have scored big wins with recent approvals of rare disease treatments, but they’re not as happy with insurers’ coverage decisions or with Trump’s promises of massive FDA … Continue reading “Bio Roundup: Travel Ban Block, Gilead Shock, Dean Kamen Talk & More”
Often Advocates Of Faster FDA, Patient Groups Wary Of Trump Deregulation
In the biomedical world, perhaps the biggest question looming over President Donald Trump’s upcoming pick for Food and Drug Administration commissioner is how drastically that person will help roll back FDA regulations. Trump said at last week’s meeting in Washington D.C., with pharmaceutical executives that he wanted to slash FDA rules by 75 to 80 … Continue reading “Often Advocates Of Faster FDA, Patient Groups Wary Of Trump Deregulation”
San Francisco Appeals Court Upholds Stay on Trump’s Travel Ban—For Now
The Trump administration’s travel ban will remain on a temporary hold under an order issued today by a federal appeals court in San Francisco, which held that the government had failed to make its case for lifting a stay won through a court challenge by the state of Washington. That means that for the time … Continue reading “San Francisco Appeals Court Upholds Stay on Trump’s Travel Ban—For Now”
Xconomy Is Growing: We Need Great Salespeople in SF, Texas, and NY
Since Xconomy’s founding nearly a decade ago, we have grown from a single bureau in Boston to having editors covering 11 innovation clusters around the United States. And over this time, we have cultivated a reputation for outstanding news coverage and events across high-tech business sectors—from information technology to life sciences and beyond. In the … Continue reading “Xconomy Is Growing: We Need Great Salespeople in SF, Texas, and NY”
Royal Oak Man Beats Staggering Odds to Win FourPlay’s $1M Prize
In September, we profiled FourPlay Football, a Birmingham, MI-based startup that billed itself as an alternative to weekly fantasy leagues by giving participants the chance to predict the winner of four NFL or NCAA football matchups in any given week instead of managing a full roster of players for the season’s duration. Co-founder Jeff Johnson … Continue reading “Royal Oak Man Beats Staggering Odds to Win FourPlay’s $1M Prize”
Bayer Enlists Trana Discovery to Find New Fungicides for Field Crops
When disease decimated Ireland’s potatoes in 1845, farmers were at a loss to explain what caused their staple crop to rot in the fields. The blight continued in successive growing seasons and by 1851, more than one million deaths were attributed to what came to be known as the “Great Famine.” Fungicides can now prevent … Continue reading “Bayer Enlists Trana Discovery to Find New Fungicides for Field Crops”
MichBio Presents: Women Building Success in Biosciences
This interactive session will feature a networking breakfast and moderated discussion with investor and author Kelly Hoey as she provides insights regarding strategies to help form genuine relationships and harness the power of your network to accomplish goals. For more information, click here.
Cultivating Women Leaders
This inaugural event, with the theme “Embracing Our Inner Strength,” is designed to give young women the tools they need to realize their potential as leaders. Two-time Olympic medalist Danielle Scott-Aruda will give the keynote address. For details, click here.
Greenlight Business Model Competition
Entrepreneurs will network with investors and pitch their early-stage startup ideas to a panel of judges for the chance to win $40,000 and other prizes. Applications to pitch are due by March 1, 2017. To learn more, click here.
Women of Color Task Force Career Conference
This event, with the theme “U-M Staff: The Heart of Maize and Blue,” will focus on professional development. Guest speakers include journalist Roland S. Martin and teacher/activist Jane Elliott. For details and registration, click here.
Trump’s Immigration Policies Threaten to Thwart Economic Growth
For the entire staff at Global Detroit, the Executive Orders from President Trump on immigration, refugees, the so-called Muslim ban, and the wall have been devastating and deeply distressing. They challenge our sense of American values and history. Beyond our personal and moral reactions, however, the Executive Orders also may have some impact on the … Continue reading “Trump’s Immigration Policies Threaten to Thwart Economic Growth”
Biotech Leaders Sign Letter Condemning Trump’s Travel Ban
The blowback from U.S. business leaders to President Trump’s travel ban continues—today from a throng of biotech executives. This morning, 165 U.S. biotech leaders have signed a letter voicing “deep concern and opposition” to the order, which bars entry to the U.S. to refugees and immigrants from seven Muslim-majority countries. The Jan. 27 order placed … Continue reading “Biotech Leaders Sign Letter Condemning Trump’s Travel Ban”
Kentucky Biotech CEO’s Message For McConnell: I’ll Be Muslim, Too
President Trump’s order to bar refugees and immigrants from seven Muslim-majority countries is on temporary hold, and a court hearing later today could eventually force a ruling by the U.S. Supreme Court. One of the latest biotech executives to speak out against the ban is in the backyard of Mitch McConnell (R-KY), the top Republican … Continue reading “Kentucky Biotech CEO’s Message For McConnell: I’ll Be Muslim, Too”
As Iraqi Immigrant, Bio CEO Sees Pros and Cons in U.S. Travel Ban
Noori Barka came to California on an H-1B visa in 1986 to work for Santa Monica-based Specialty Laboratories, a medical diagnostics company best known for its clinical testing services. Barka said he had just completed his doctorate in immunology in Belgium, and moved to America with his wife, Evelyn, and his son, David, who was … Continue reading “As Iraqi Immigrant, Bio CEO Sees Pros and Cons in U.S. Travel Ban”
Microsoft Moving Michigan Tech Center to Downtown Detroit
Bedrock Detroit, the real estate company tied to Quicken Loans chairman Dan Gilbert, announced today that it has successfully lured Microsoft to downtown Detroit. The Redmond, WA-based technology giant (NASDAQ: [[ticker:MSFT]]) has maintained a 52,000-square-foot tech center in Southfield, a suburb of Detroit, since 2010. But Microsoft’s planned 2018 relocation to the Motor City is being … Continue reading “Microsoft Moving Michigan Tech Center to Downtown Detroit”
Bio Roundup: Travel Ban, Pharma in DC, Biogen Splits, PCSK9 Wins
Folks had just clocked out last Friday when the Trump Administration announced a travel ban that threw airports around the country into chaos. That announcement set the tone for this week in life sciences. Many in biopharma blasted Trump’s order and tried to grapple with its implications. At the same time, a handful of the … Continue reading “Bio Roundup: Travel Ban, Pharma in DC, Biogen Splits, PCSK9 Wins”
ClearMotion Absorbs $100M for Tech That Delivers Smoother Car Rides
Investors have poured $100 million into ClearMotion, an MIT spinout that sees opportunity in the shift toward autonomous vehicles. ClearMotion’s Series C funding round was led by J.P. Morgan Asset Management, along with New Enterprise Associates, Qualcomm Ventures, World Innovation Lab, and Eileses Capital. The Woburn, MA-based startup says it has raised more than $130 … Continue reading “ClearMotion Absorbs $100M for Tech That Delivers Smoother Car Rides”
Seed-Stage Deals Show Growing Diversity of Agtech Investments
Fundraising is tough for startups but it’s particularly difficult in agriculture, a sector that has fewer firms focused on agtech investments. The dynamics are starting to change, though. A growing number of early-stage agtech startups are raising money and they’re pulling capital from a broader pool of sources, according to a new report from AgFunder, … Continue reading “Seed-Stage Deals Show Growing Diversity of Agtech Investments”
Still No Official Word From Biopharma Groups About Trump Travel Ban
Four days after President Donald Trump issued an order to temporarily ban U.S. entry for people from seven Muslim-majority countries—and for all refugees—the drug industry’s two main lobbying groups have remained silent, even while individual executives in the industry have voiced opposition. The main life science trade group in California has also stayed on the … Continue reading “Still No Official Word From Biopharma Groups About Trump Travel Ban”
In Bid to Go National, Court Innovations Launches Capital Campaign
Court Innovations, a startup spun out of the University of Michigan’s law school, has steadily grown since it publicly launched in 2015. The company, whose software helps people resolve traffic tickets and other minor civil infractions online or via smartphone app, is using an innovative new model to raise capital as it prepares to expand. … Continue reading “In Bid to Go National, Court Innovations Launches Capital Campaign”
Ex-Xerox CTO Vandebroek Named Chief Operating Officer of IBM Research
When I last spoke to Sophie Vandebroek in December, it was for a kind of exit interview as she prepared to leave her longtime job as Xerox’s CTO and head of its worldwide research organization. We went over highlights of her Xerox tenure, her outlook on key technology trends for 2017 and beyond—the Internet of … Continue reading “Ex-Xerox CTO Vandebroek Named Chief Operating Officer of IBM Research”
Cybersecurity in 2017: Goal, Illusion, or Oxymoron?
Here at the (relative) beginning of 2017, we can safely say that the previous year was among the most significant in history from a cybersecurity standpoint. Nation-state actions, in the form of the assumed Russian interference in the U.S. elections (especially the presidential race) and in the leaks of e-mails from the Clinton campaign, dominated … Continue reading “Cybersecurity in 2017: Goal, Illusion, or Oxymoron?”
Southeast Michigan Women’s Entrepreneur-YOU Conference
Inforum, the Michigan Women’s Foundation, and Walsh College host this annual event designed to teach women entrepreneurs about the resources necessary and available to open, run, and grow a business. For details and registration, click here.
Bio Roundup: Trump News, Anthem’s Stand, Diversity by 2056 & More
It was a wild week in biotech and on Capitol Hill. A new study showed it may take another 40 years to achieve gender parity in public biotech boardrooms. Tensions continued to mount between drugmakers and payers over the rising costs of rare disease drugs. A flurry of deals took place, headlined by Johnson & … Continue reading “Bio Roundup: Trump News, Anthem’s Stand, Diversity by 2056 & More”
Connected Cars, Cheap Rides, Deadlines to Apply & More MI Tech News
Here’s a look at tech and innovation news from around Michigan: —A University of Michigan startup called Cart is piloting a new service that offers low-cost rides to Detroit residents who want to go grocery shopping. Shoppers that live within five miles of one of Meijer’s two Detroit locations can pay $10 for a round-trip ride … Continue reading “Connected Cars, Cheap Rides, Deadlines to Apply & More MI Tech News”
Report: Biotech VCs Perpetuate Boardroom Gender Gap
If power in the business world is centered in the boardroom, women in biotech have a long way to go to get their fair share—and the venture community deserves much of the blame. That’s according to British recruitment firm Liftstream and its new study of biotech companies that went public in the recent boom years. … Continue reading “Report: Biotech VCs Perpetuate Boardroom Gender Gap”
Fresh Off Another Banner Year, U-M Tech Transfer Looks Ahead to 2017
In 2016, the University of Michigan’s Office of Technology Transfer, which is tasked with bringing the school’s inventions and startups to market, had another banner year: $23 million in licensing revenues and a record 173 licensing agreements. With fresh leadership at U-M’s Venture Center; programs stoking innovation, such as Train the Trainers; and an increasing … Continue reading “Fresh Off Another Banner Year, U-M Tech Transfer Looks Ahead to 2017”
Ex-FDA Commish Califf Gives Props to Patient Groups—With Caveats
The nation’s former Food and Drug Administration commissioner Robert Califf, appearing for the first time since he resigned last week, told a Silicon Valley crowd this morning that the FDA will have to be flexible in coming years, allowing greater patient input into drug evaluation and leaning on outside watchdogs for help weeding out “imposters.” … Continue reading “Ex-FDA Commish Califf Gives Props to Patient Groups—With Caveats”
Business Leaders Talk Trump’s Impact on Visas, Drug Pricing, Insurance
Perhaps you’ve heard about the inauguration of one Donald J. Trump. Xconomy has been asking prominent members of the national innovation community for their thoughts on the incoming administration and its potential impact on their companies and industries. Here are responses from four business leaders in different cities across Xconomy’s network. Alex Lash, our national … Continue reading “Business Leaders Talk Trump’s Impact on Visas, Drug Pricing, Insurance”
Bio Roundup: Tom Price, Patient Conflicts, Orphan Games & More
The new president of the United States, Donald Trump, is being sworn in today amid a storm of questions about the plans that he, and those who might work for him, have in store for American healthcare and medicine. Trump’s nominee to run the $1 trillion Health and Human Services Department, Tom Price, answered—or didn’t … Continue reading “Bio Roundup: Tom Price, Patient Conflicts, Orphan Games & More”
Kellogg’s VC Fund Bets on Superfood Trend with Kuli Kuli Investment
My sister has worked as a food scientist, inventing new crackers and cookies, for a number of different corporations over her 15-year career. Because of that, I’ve been involved in many exceptionally nerdy discussions about global food trends and how what we eat gets made, and I’ve picked up a few fun tidbits along the way. … Continue reading “Kellogg’s VC Fund Bets on Superfood Trend with Kuli Kuli Investment”
Want to Ruin Your Relationships? Ask Family and Friends to Fund Your Startup
When you need cash to fuel your startup, it’s tempting to “think local.” The people with the strongest ties to you—relatives, friends, college roommates, running buddies, and co-workers—are the ones who believe in you. You’d probably turn first to them for financial support. Capital fronted by these folks might be the quickest, easiest cash you’ll … Continue reading “Want to Ruin Your Relationships? Ask Family and Friends to Fund Your Startup”
Startup Aims AI System for Safety, with Potential for Self-Driving
Over the past 25 years or so, San Diego has become a hub for innovation in telematics, and in providing technologies and services that enable long-haul trucking companies and other fleet operators to monitor the location and operation of their vehicles. Qualcomm (NASDAQ: [[ticker:QCOM]]) pioneered the use of satellite-based messaging and vehicle tracking technology in … Continue reading “Startup Aims AI System for Safety, with Potential for Self-Driving”
Dems Grill HHS Nominee Price About Trump Comments, Stock Holdings
[Note: This report was co-authored by deputy biotech editor Ben Fidler.] Tom Price, the man who could oversee an overhaul of the U.S. healthcare system, answered often pointed questions this morning from U.S. senators about his views, his plans for Obamacare, and personal financial transactions. Price, an orthopedic surgeon by training, is President-elect Donald Trump’s … Continue reading “Dems Grill HHS Nominee Price About Trump Comments, Stock Holdings”
Next Coast Ventures Latest Addition to Austin’s Investment Ecosystem
Austin—Mike Smerklo, co-founder of Next Coast Ventures in Austin, says his venture firm brings a key ingredient to investing: entrepreneurial experience. “We just believe that relevant experience is more important than anecdotal evidence,” he says of himself and co-founder Tom Ball, who have led companies such as ServiceSource, Nucleus Growth, Openfield, and eCoupons, which was … Continue reading “Next Coast Ventures Latest Addition to Austin’s Investment Ecosystem”
Video Trends Point to Changing Ways Companies Reach Consumers
The top emerging trends that will affect our business in 2017 are a mixture of how consumers digest information online, video trends, and the continued growth of live video. The way people digest information online has shifted over time from being text based to photo based to now being very video based. Facebook forecasts that … Continue reading “Video Trends Point to Changing Ways Companies Reach Consumers”
Biotech Roundup: JPM Deals, Gender Diversity, PCSK9 Battle & More
[Corrected, 1/14/16, see below] This past week, the biopharma industry made its annual January pilgrimage to San Francisco for the J.P. Morgan Healthcare Conference. 2016 was a whirlwind year in biotech, and the biopharma gods rewarded attendees with a multi-day monsoon to slog through to get from one meeting to the next. Earlier today, Alex … Continue reading “Biotech Roundup: JPM Deals, Gender Diversity, PCSK9 Battle & More”
Notes From The JPM ’17 Vortex: Trump, Rainstorms & The Price You Pay
[Editor’s note: Ben Fidler contributed to this report] The week of frenetic data sharing, deal talking, and party hopping of the J.P. Morgan Healthcare Conference—and the events that have mushroomed around it—took a punch to the gut just as most attendees were wrapping up and checking their outbound flight status. The incoming party-pooper-in-chief, Donald Trump, … Continue reading “Notes From The JPM ’17 Vortex: Trump, Rainstorms & The Price You Pay”
Startup Resolution 2017: Embrace Believers, Bounce Skeptics & Keep Moving
The holiday period is a great time for reflection and then behavior modification – often referred to as resolutions. While a bit artificial to the logical engineer, this opportunity can be helpful. This year, my favorite insight came from a former student and employee, Elliot Cohen, co-founder of PillPack. While thinking about the major aspirational … Continue reading “Startup Resolution 2017: Embrace Believers, Bounce Skeptics & Keep Moving”
U-M Gets $2M to Study Xenex Robots’ Ability to Sanitize Hospitals
San Antonio—With $2 million in funding from the NIH, researchers at the University of Michigan are going to study the effectiveness of a San Antonio company’s robot that disinfects hospital rooms. Xenex Disinfection Services sells robots that use pulses of xenon-based ultraviolet light to kill so-called drug-resistant “superbugs”—organisms like Clostridium difficile (C. diff) or methicillin-resistant … Continue reading “U-M Gets $2M to Study Xenex Robots’ Ability to Sanitize Hospitals”
Cyber Attackers Targeted Our Trust, Not Just an Election
The cyber attacks on political organizations and election infrastructure added a level of intrigue to this year’s U.S. presidential election – culminating in the U.S. government officially blaming the Russian government for trying to influence the election. If the Cold War has taught us anything, it’s that global espionage is a game of chess, not … Continue reading “Cyber Attackers Targeted Our Trust, Not Just an Election”
Social Fund-raising Website GoFundMe Buys Detroit Rival CrowdRise
GoFundMe, the Redwood City, CA-based fund-raising platform for charities and nonprofits, has acquired CrowdRise, a Detroit, MI-based rival founded by entrepreneurs Robert Wolfe and Jeffrey Wolfe, and Hollywood philanthropists Edward Norton and Shauna Robertson. Financial terms were not disclosed in a statement issued Tuesday by GoFundMe. Brad Damphousse and Andy Ballester founded GoFundMe in San … Continue reading “Social Fund-raising Website GoFundMe Buys Detroit Rival CrowdRise”
Agtech Startup FarmLogs Harvests $22M From Naspers-Led Series C Round
Farming has always been a data-intensive business but digital approaches to record keeping are starting to take root with more farmers. Agtech startup FarmLogs aims to capitalize on the trend, and it now has $22 million in additional financing to support those efforts. New investor Naspers Ventures led the round Series C round of financing. … Continue reading “Agtech Startup FarmLogs Harvests $22M From Naspers-Led Series C Round”
Biopharma Leaders Call for Gender Diversity Amid J.P. Morgan Conference
A group of more than 100 prominent life sciences executives, investors, and business leaders have signed an open letter calling on the industry to step up efforts to increase gender diversity. The letter was published Wednesday, on the second to last day of the annual J.P. Morgan healthcare conference in San Francisco (see full letter … Continue reading “Biopharma Leaders Call for Gender Diversity Amid J.P. Morgan Conference”
Trump Slams Drug Companies, Says Medicare “Bidding” Is Coming
Oh, the power of a Donald Trump sound bite. On the campaign trail and as president-elect he has made occasional noises about drug pricing—giving the U.S. Medicare system, the largest buyer of drugs in the world, the right to negotiate prices, for instance. This morning, in his first press conference, Trump went further. He said … Continue reading “Trump Slams Drug Companies, Says Medicare “Bidding” Is Coming”
Edtech Venture Funding Down in 2016, But Still Tops $1B
While we’re looking at venture deal numbers from the past year, let’s consider the education technology industry, which isn’t broken out by sector in the general reports I’ve seen. A recent study by EdSurge, an edtech information firm, shows venture funding for U.S. education tech companies totaled $1.03 billion (across 138 deals) in 2016. Those … Continue reading “Edtech Venture Funding Down in 2016, But Still Tops $1B”
At Allergan And Other Pharmas, Price Transparency Has Limits
The first test of pharmaceutical giant Allergan’s promise to behave responsibly came last week. The firm acknowledged price hikes on several drugs that stayed—sometimes barely—under the 10 percent limit that CEO Brent Saunders pledged last September, in what he called a “social contract with patients.” In an interview at the annual J.P. Morgan healthcare investment … Continue reading “At Allergan And Other Pharmas, Price Transparency Has Limits”
VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals
Venture capital firms didn’t exactly take their foot off the accelerator, but the pace of VC investments continued to weaken in the three months that ended in December, extending a slowdown that began in July, according to two venture reports issued today. The deceleration followed a strong start to venture activity during the first half … Continue reading “VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals”