The 36 semi-finalists competing in the annual Accelerate Michigan Innovation Competition, the state’s largest business plan competition targeting mid-to-late-stage startups, have been announced. Although this year’s edition, overseen by Invest Detroit for the first time, has been helpfully streamlined to one day and one location, still at stake is more than $1 million in cash … Continue reading “Accelerate Michigan 2016: One Day, One Location, 36 Semi-Finalists”
Category: Detroit
Latest Data Show Venture Capital Industry on Pins and Needles
Given the obvious anxiety and frustration that surrounds us all, the U.S. venture industry is also exhibiting some fatigue as we finish the 88th month since the last recession. This is the fourth-longest period of economic growth in U.S. history (admittedly, at 2.1 percent, the growth over this period of time is the slowest since … Continue reading “Latest Data Show Venture Capital Industry on Pins and Needles”
New Leader at Intel Capital Adjusts Strategy as Global Summit Opens
Intel Capital has identified 12 technology startups that have received a total of $38 million, highlighting its venture investment focus on innovations in self-driving cars and machine vision, the Internet of Things, sports and health, drones, and virtual reality. The recent funding deals that Intel Capital laid out in San Diego Monday, on the first … Continue reading “New Leader at Intel Capital Adjusts Strategy as Global Summit Opens”
FDA: Keytruda Now OK For Some Patients With Untreated Lung Cancer
The FDA has approved the use of pembrolizumab (Keytruda) for some previously untreated patients with a certain type of lung cancer, the drug’s owner Merck (NYSE: [[ticker:MRK]]) announced late Monday. Pembrolizumab can now be used for patients who have never received treatment for non-small cell lung cancer (NSCLC) that has spread to other parts of … Continue reading “FDA: Keytruda Now OK For Some Patients With Untreated Lung Cancer”
Why Friday’s Massive DDoS Attack Should Be Terrifying
Friday’s massive DDoS attack made a number of hugely popular websites unavailable for much of the country for large parts of the day. Our service wasn’t directly affected by this incident, but the nature and scope of this attack is tremendously worrisome. In a Denial of Service (DoS) attack, the perpetrator overwhelms a target company … Continue reading “Why Friday’s Massive DDoS Attack Should Be Terrifying”
Walker’s Legacy: Funding Your Entrepreneurial Dreams
Walker’s Legacy, a professional collective supporting women of color in business, hosts this event focused on finding startup capital. A panel discussion will feature Roslyn Karamoko, CEO of Detroit is the New Black; Lolita Lenoir of PNC Bank; Gail Perry Mason of Oppenheimer; and Tahirih Ziegler, executive director of the Detroit Local Initiatives Support Corporation. … Continue reading “Walker’s Legacy: Funding Your Entrepreneurial Dreams”
Bio Roundup: Jenkins Gets Mad, Bernie Gets His Pen, CRISPR IPO & J-Lo
If you’re among those frustrated by the lack of talk about health and science in the three presidential debates, this week perhaps brought you a wee consolation prize. The steady drip of hacked Hillary Clinton-related emails showed her campaign team questioning then-candidate FDA commissioner Robert Califf’s ties to the pharma industry. The staff also crowed … Continue reading “Bio Roundup: Jenkins Gets Mad, Bernie Gets His Pen, CRISPR IPO & J-Lo”
Notion Emerges From Stealth with Smart E-Mail App, $9.5M in VC Bucks
After more than a year spent quietly beta-testing its intelligent e-mail app, Ann Arbor, MI-based startup Notion publicly launched this week with the goal of nothing less than solving our modern communications overload, co-founder Guy Suter says. “We’ve been very intentionally under the radar building our team and technology,” Suter says. Notion is coming out … Continue reading “Notion Emerges From Stealth with Smart E-Mail App, $9.5M in VC Bucks”
High Growth Happy Hour
Southeast Michigan Startup and the New Economy Initiative host the High Growth Happy Hour, a monthly series of conversations with entrepreneurs who are running promising startups in the area. This month’s topic is mobility and features Tatiana Grant, co-founder of Flash Delivery, and Anya Babbitt, founder of SPLT. Click here for details and registration.
All In One Place: A New Immuno-Oncology Trial Resource
More than 100 years ago, New York bone surgeon William Coley began to suspect that bacterial infections might be improving the outlook for patients also suffering from cancer. The infections were turbo-charging the immune system. Coley (pictured) would be gratified to see that in 2016 a growing array of immune-boosting cancer treatments are helping some … Continue reading “All In One Place: A New Immuno-Oncology Trial Resource”
The Power of the Cloud for Life Science R&D
“In the new world, it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish…” — Klaus Schwab, Founder/Executive Chairman, World Economic Forum Over the past decade, the nature of innovation has changed—even as the pace has substantially increased. One of the reasons has been the ability … Continue reading “The Power of the Cloud for Life Science R&D”
Urban Entrepreneurship Event Looks at How Startups Can Revitalize Flint
The Urban Entrepreneurship Initiative’s (UEI) annual symposium kicks off today and brings together startup founders, academia, community organizers, government officials, and other interested parties to discuss how entrepreneurial solutions can improve economic opportunities and quality of life for city dwellers. Now in its third year, the event is being held in Flint for the first … Continue reading “Urban Entrepreneurship Event Looks at How Startups Can Revitalize Flint”
After “Hubris” and Its HCV Collapse, Can Vertex Avoid Same Mistakes?
Five years ago, in November 2011, a company from Princeton, NJ, called Pharmasset shared news that would have an impact on millions of people around the world with hepatitis C. Its experimental drug PSI-7977 had quickly cleared the virus from 40 patients, with minimal side effects, and they had stayed infection-free. If the data held … Continue reading “After “Hubris” and Its HCV Collapse, Can Vertex Avoid Same Mistakes?”
Chinese Firm Invests $27M in U-M’s Autonomous Tech Research
The Chinese investment firm Frontt Capital Management has invested $27 million to advance autonomous vehicle and robotics research at the University of Michigan, the school said in a press release. Mark Schlissel and S. Jack Hu, the university’s president and vice president for research, respectively, signed a memorandum of understanding with Shenzhen-based Frontt. The firm concentrates on developing China’s intelligent vehicle industry, … Continue reading “Chinese Firm Invests $27M in U-M’s Autonomous Tech Research”
NEI Reports Find Detroit’s Entrepreneurial Ecosystem is Growing
Last month, the New Economy Initiative (NEI), one of the nation’s largest philanthropic partnerships focused on innovation and entrepreneurship, unveiled the results of two reports it commissioned to measure the organization’s impact, and the data confirms that Detroit’s entrepreneurial ecosystem is growing. According to research done by PricewaterhouseCoopers and the W.E. Upjohn Institute for Employment … Continue reading “NEI Reports Find Detroit’s Entrepreneurial Ecosystem is Growing”
Bio Roundup: Bristol & Illumina Blues, Sickle Cell News & More
On Aug. 4, shares of Bristol-Myers Squibb closed at $75.32. Today, shares are worth just over $50. That means in three months, Bristol has lost a third of its value, equivalent to about $40 billion in market capitalization. The reason? One failed clinical trial has left rival Merck in the lead position to have what … Continue reading “Bio Roundup: Bristol & Illumina Blues, Sickle Cell News & More”
Qualcomm Rolls Out First Commercial Use of Wireless EV Charger
Qualcomm (NASDAQ: [[ticker:QCOM]]), the San Diego wireless technology giant, announced in a blog item this week that its Halo wireless electric vehicle charging technology will be available commercially for the first time in 2017, with the mid-year introduction of the 2018 model of the Mercedes-Benz S550e. Daimler AG introduced its first plug-in hybrid model in … Continue reading “Qualcomm Rolls Out First Commercial Use of Wireless EV Charger”
Blue Medora Secures $8,600,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=553dd061-c5f0-4bdd-a0d5-657634c89e1d Date 10/13/2016 Company Name Blue Medora Mailing Address 3225 Evergreen Drive Northeast Grand Rapids, MI 49525 USA Company Description Blue Medora creates product extensions for VMware vRealize Operations (vROps), Oracle Enterprise Manager (OEM), IBM Tivoli Monitoring (ITM). Website http://www.bluemedora.com Transaction Type Venture Equity Transaction Amount $8,600,000 Transaction Round Undisclosed Proceeds Purposes … Continue reading “Blue Medora Secures $8,600,000 New Funding Round”
California Accelerators Enroll Startups Targeting Cannabis Industry
[Corrected 10/13/16, 9:10 am. See below.] When California voters go to the polls on November 8, among the many issues they are expected to decide is Proposition 64. If a majority of voters vote yes, the initiative would legalize the recreational use of marijuana in the Golden State for adults aged 21 years or older. … Continue reading “California Accelerators Enroll Startups Targeting Cannabis Industry”
Bio-Based Economy Forum
Former Pennsylvania governor Mark Schweiker will be the keynote speaker at this event where representatives from industry, academia, nonprofits, and government will discuss technology developments, business needs, and opportunities to integrate the various regional bio-based enterprises into a robust growth sector. Click here for details and registration.
Life Science Leaders Who Feel the Right Kind of Fear
In the world of betting on the future, life sciences find themselves in a storm, with huge opportunities, like CRISPR gene editing, and immense obstacles, such as soaring drug prices, that call for leaders of extra intensity who are imbued with a sense of crisis. Most people agree that the life sciences today, more than … Continue reading “Life Science Leaders Who Feel the Right Kind of Fear”
Angel’s Night with Cooperative Capital
Cooperative Capital, a brand-new cooperative private equity fund that empowers citizens to pool their money to make promising investments within their community, hosts this unveiling event. It will bring together local residents, investors, entrepreneurs, public servants, and community organizers to discuss major opportunities in Detroit and how all can come together to benefit from them. … Continue reading “Angel’s Night with Cooperative Capital”
North American Cyber Summit
The state’s Department of Technology, Management and Budget hosts this all-day conference featuring cybersecurity experts from around the world discussing topics ranging from ransomware to national defense. To register, click here.
Accelerate Michigan Innovation Competition
Invest Detroit hosts this year’s edition of the state’s largest startup competition. The event has helpfully been condensed into one day and will highlight company pitches and awards, including the $500,000 grand prize. For details and registration, click here.
Automation Alley Drives Toward Autonomous Future with New Director
As Automation Alley prepares to host its annual awards gala this week, it’s a good time to look at what the organization is up to and what progress it has made since its founding nearly 20 years ago—and how the recent boom in autonomous technology has affected the organization’s long-term strategy. Automation Alley—a technology trade … Continue reading “Automation Alley Drives Toward Autonomous Future with New Director”
How Doctors Think About Drug Prices
There are a lot of factors involved in drug pricing that don’t enter my head when I’m seeing a patient. The three letters “PBM,” for example (pharmacy benefit manager), have never crossed my mind when I’m writing a prescription. Nor has the word “rebate.” Or the phrase “pay for delay.” Or “marketing exclusivity.” Basically, I … Continue reading “How Doctors Think About Drug Prices”
Checkpoints In Lung Cancer, and Other Oncology News From Europe
The European Society for Medical Oncology’s annual conference wraps up in Copenhagen today. We’ve seen updates on heavyweight immunotherapy programs, potential options for patients with advanced breast cancer, and more. Here’s a quick roundup of the major news. LUNG CHECKS ESMO provided more evidence that the treatment of lung cancer is changing fast. Going into … Continue reading “Checkpoints In Lung Cancer, and Other Oncology News From Europe”
MedHealth Summit Information Sessions
In February, the MedHealth Summit will bring together healthcare organizations and innovators to spur the development of health IT, digital platforms, and medical devices to solve key healthcare challenges in Southeast Michigan and Southwest Ontario. As part of the summit, the MedHealth Challenge event will offer an opportunity for entrepreneurs to submit medical device and … Continue reading “MedHealth Summit Information Sessions”
How Augmented Reality Is Transforming the Manufacturing Industry
For many Americans, the manufacturing industry brings to mind images of Industrial Revolution-era factories, World War II assembly lines, or perhaps even outsourced workshops overseas. But that picture is outdated. The truth is that the advanced technologies that are changing modern life are also revolutionizing the manufacturing industry in ways that are not yet widely … Continue reading “How Augmented Reality Is Transforming the Manufacturing Industry”
Bio Roundup: Theranos Cuts, Alnylam Stops, Nobel Eats Its Own & More
[Updated, 11:50 a.m. ET, see below] With the Caribbean and now the southeast U.S. coast bearing the brunt of Hurricane Matthew, we send our thoughts and more to those who have more pressing matters to worry about this week. But the show must go on. The biotech industry saw its own storms pass through, with … Continue reading “Bio Roundup: Theranos Cuts, Alnylam Stops, Nobel Eats Its Own & More”
Brain Corp.’s First Product Is a Brain for Floor-Scrubbing Machines
San Diego’s Brain Corp. has a vision for developing the kind of technology that could some day be used to operate self-driving cars. Before getting out on the open road, however, the company wants to show its self-driving system can clean up a mess in aisle 3 at Jimbo’s. As an independent startup backed by … Continue reading “Brain Corp.’s First Product Is a Brain for Floor-Scrubbing Machines”
Third-Quarter Report Shows Slowdown in VC Activity, & Top 10 Deals
Venture capital activity is gradually easing from last year’s peak, according to a new quarterly report put together by Seattle-based PitchBook and the National Venture Capital Association. VC firms invested $14.99 billion in 1,810 U.S. deals (1,796 companies) during the third quarter that ended September 30, according to the inaugural “Venture Monitor” report released today. … Continue reading “Third-Quarter Report Shows Slowdown in VC Activity, & Top 10 Deals”
With New Program, DARPA To Encourage Safety “Brakes” For Gene Editing
[Updated 10/6/16, 12:17 p.m. See below.] Drugs that use molecular scissors to snip out or replace defective genes. Altered mosquitoes meant to sabotage entire disease-carrying populations. Both are potential uses of genome editing, which thanks to the CRISPR-Cas9 system has spread throughout the world’s biology labs and is now on the doorstep of the outside … Continue reading “With New Program, DARPA To Encourage Safety “Brakes” For Gene Editing”
Healthtech Startup Curo Opens First U.S. Office in Ann Arbor
Curo Technologies, a Melbourne, Australia-based healthtech startup, announced this week that it is opening its first U.S. office in Ann Arbor, MI. Steve Hopkins, who will run the Ann Arbor office, said Curo’s decision to expand to Southeast Michigan makes good business sense, as it allows the company to tap into the area’s technical talent … Continue reading “Healthtech Startup Curo Opens First U.S. Office in Ann Arbor”
Is Your Organization Ready to Become an Ecosystem Driver?
[This article is co-authored by Stephanie Woerner.] Dominating business-to-consumer sales, Amazon seems ready to take over the world of business-to-business too. In its first year, Amazon Business generated $1 billion in sales. However, there is still room for competition. It’s not yet an ecosystem driver in B2B, although the longer it takes for other business … Continue reading “Is Your Organization Ready to Become an Ecosystem Driver?”
Bio Roundup: CAR-T & Migraine Races, Intra-Cellular, Rockefeller & More
The presidential race captivated millions of TV viewers this week as the first debate took place in Hofstra. But biotech watchers had other races on their mind. Who will be first to market with a new type of cancer treatment known as CAR-T? Who will break free of the pack of companies developing drugs meant … Continue reading “Bio Roundup: CAR-T & Migraine Races, Intra-Cellular, Rockefeller & More”
Karamba Security Obtains $2,500,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0b87e6b2-83e8-4702-979e-bf57e7f75e41 Date 9/30/2016 Company Name Karamba Security Mailing Address 2723 South State Street Ann Arbor, MI 48104 USA Company Description Karamba Security offers ECU endpoint security to protect the connected car. The company hardens the connected Electronic Control Units (ECUs) within automobiles to protect them from cyber attacks and ensure the car’s … Continue reading “Karamba Security Obtains $2,500,000 New Funding”
DaySmart Lands New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=45a643fe-6256-47cc-af3b-f17a89291a23 Date 9/30/2016 Company Name DaySmart Mailing Address 30475 South Wixom Rd. Wixom, MI 48393 USA Company Description The software products developed by DaySmart Software helps businesses to save a tremendous amount of time. By tracking appointments, calculating payroll, keeping track of inventory, storing clients’ notes, and so much more – employees … Continue reading “DaySmart Lands New Financing”
Benzinga Secures $3,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1b4393c3-5e09-4370-ba53-fc998352d026 Date 9/30/2016 Company Name Benzinga Mailing Address 24471 West 10 Mile Road Dover, MI 48033 USA Company Description Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals. Website http://www.benzinga.com Transaction Type Venture Equity Transaction Amount $3,000,000 Transaction Round Undisclosed Proceeds Purposes Our vision is to make … Continue reading “Benzinga Secures $3,000,000 New Funding Round”
Tech Giants’ Partnership To Explore Ethics, Societal Impacts of AI
With public interest in artificial intelligence technologies on the rise, five of the world’s largest corporations—vying against each other in so many spheres—are banding together to support research on the ethical and societal issues raised by machines with increasingly human-like capabilities. The Partnership on AI, formally unveiled Wednesday, includes Amazon, Microsoft, Facebook, IBM, Google and … Continue reading “Tech Giants’ Partnership To Explore Ethics, Societal Impacts of AI”
Liquid Web Eyes San Antonio for Tech Talent After Cloud Sites Deal
San Antonio—A Lansing, MI-based Web hosting and server management company has plans to make more hires in the Alamo City after an acquisition, in part because its CEO thinks he’ll have better luck finding employees here. Liquid Web, which was founded in 1997, bought a Web server business from Rackspace called Cloud Sites in August, … Continue reading “Liquid Web Eyes San Antonio for Tech Talent After Cloud Sites Deal”
Roundup: WSU’s ITT Outreach, LIFT Prize, VNN & More
Here’s a look at tech and innovation news from around Michigan this month: —Wayne State University is offering free academic counseling to displaced ITT students. According to a press release, affected ITT students can schedule appointments with WSU counselors to discuss financial aid and credit transfers. The counselors will help the students determine if WSU … Continue reading “Roundup: WSU’s ITT Outreach, LIFT Prize, VNN & More”
Catching Up with 2016 Techstars Mobility Class: What Did They Learn?
Detroit’s Techstars Mobility startup accelerator has wrapped another summer of innovating and iterating, and the 12 participating companies are now headed out into the marketplace to hustle. I caught up with managing director Ted Serbinski and the rest of the Techstars crew earlier this month—the day after they pitched investors and sang the praises of … Continue reading “Catching Up with 2016 Techstars Mobility Class: What Did They Learn?”
Bio Roundup: Mylan Grilled, Duchenne Kids Thrilled, Zuck-Chan & More
Another biopharma executive went before Congress to explain drug price hikes. Unlike Martin Shkreli, Mylan CEO Heather Bresch actually answered questions. Taking heat over the EpiPen scandal, she tried to stick to her script, getting testy when legislators brought up a USA Today story about her mother helping market the life-saving anti-allergy injection to schools. … Continue reading “Bio Roundup: Mylan Grilled, Duchenne Kids Thrilled, Zuck-Chan & More”
When Self-Driving Cars Turn Corner, Other Autos Become Irrelevant
Austin—Autonomous cars are coming. How quickly they take over the automobile market will largely depend on how soon consumers are willing to trust the cars, governments are able to manage the sector, and insurers are able to assess the risk, says Peter Stone, a professor who works in the artificial intelligence laboratory at the University … Continue reading “When Self-Driving Cars Turn Corner, Other Autos Become Irrelevant”
Announcing Xconomy’s Agtech and Food Channel
A core tenet of Xconomy—and the reason behind our broad coverage across information technology, life sciences, energy, and more—is that the most interesting and important innovations often arise from the intersection of different disciplines. One of the most important intersections today is between agriculture, the life sciences, and information technology—as evidenced by the growing field … Continue reading “Announcing Xconomy’s Agtech and Food Channel”
SproutsIO Launches Microfarming Device as Indoor Gardens Germinate
The distance from farm to table is now just a few feet, thanks to new systems that allow people to grow food in their kitchen or living room. Last fall, Xconomy covered the launch of a Kickstarter crowdfunding campaign for Somerville, MA-based Grove, a startup out of MIT that developed a product that enables consumers … Continue reading “SproutsIO Launches Microfarming Device as Indoor Gardens Germinate”
Pharmaceutical Price Controls Might Be Closer Than You Think
Amid the hue and cry over the Mylan EpiPen pricing debacle, Hillary Clinton unveiled her “Plan to Respond to Unjustified Price Hikes for Long-Available Drugs.” Clinton’s plan calls for “dedicated oversight to protect consumers.” To that end she would “convene representatives of federal agencies…to create a dedicated group charged with protecting consumers from outlier price … Continue reading “Pharmaceutical Price Controls Might Be Closer Than You Think”
FourPlay Football Offers Fantasy Pick ‘Em Leagues with a Twist
I first started playing fantasy football in 1998, before Yahoo leagues, or channels wholly dedicated to jumping from game to game to show potential scoring drives from the end zone, or multiple talking heads earnestly spouting off about a made-up game each week. Back then, when one still needed a dial-up modem to access the … Continue reading “FourPlay Football Offers Fantasy Pick ‘Em Leagues with a Twist”
Workforce Trends, Economy, & More: Q&A With Alexandria’s Joel Marcus
Think “innovation” and you might picture some scrappy entrepreneurs toiling away in a kitchen or garage, hoping the landlord doesn’t notice what they’re up to. But the reality is that turning science into big business often requires far more sophisticated infrastructure—and the landlord who provides that infrastructure sometimes has one of the best windows into … Continue reading “Workforce Trends, Economy, & More: Q&A With Alexandria’s Joel Marcus”