Category: Detroit

Duo Security Snags $2.5M Grant, Will Hire Up to 300

Ann Arbor, MI-based startup Duo Security announced that it has received a $2.5 million grant from the state’s Michigan Strategic Fund and, as a condition of the grant, plans to hire up to 300 new employees over the coming months. Economic development group Ann Arbor SPARK has pledged to assist Duo in its employee recruitment … Continue reading “Duo Security Snags $2.5M Grant, Will Hire Up to 300”

Toyota Opens New $1B Autonomous Vehicle Research Hub in Ann Arbor

All anyone in the automotive industry seems to be talking about these days is the race to develop autonomous cars and new mobility applications. The announcement last month of a new $1 billion Toyota vehicle research operation in Ann Arbor, MI, is another significant milestone in Michigan’s quest to lead the nation in the development … Continue reading “Toyota Opens New $1B Autonomous Vehicle Research Hub in Ann Arbor”

Ransomware: Four Steps to Avoid Becoming the Next Victim

It’s no secret to anyone who’s been paying attention to global business news: over the last few months, ransomware attacks have been plaguing organizations across every vertical and nation. Recent examples include events in the healthcare and legal industries in particular, notably the widely reported attacks on the MedStar Health hospital chain. In the case … Continue reading “Ransomware: Four Steps to Avoid Becoming the Next Victim”

Front Door Program Helps Startups Access WSU’s Business Resources

Tucked inside the building that houses TechTown Detroit is the office of Wayne State University’s Front Door for Business Engagement program, which connects local companies to WSU’s various resources—research assistance, access to cutting-edge or highly specialized equipment, student interns, and more. Established in 2012, the Front Door program is supported by WSU, the New Economy … Continue reading “Front Door Program Helps Startups Access WSU’s Business Resources”

From Antivirus to Zero-Day Attack: A Cybersecurity Glossary

Cybersecurity is a rapidly changing field. The arms race between hackers and organizations trying to defend themselves has given rise to a lexicon of epic proportions—and leaders from almost every industry are learning to speak the language. As concepts like antivirus and firewalls have grown old, security-tech companies are selling everything from “advanced threat detection” … Continue reading “From Antivirus to Zero-Day Attack: A Cybersecurity Glossary”

Sales Is Toxic to Innovation

Having had the good fortune to participate in business development and sales in both startups and large companies (Intel and Microsoft), I have arrived at the conclusion that sales is largely detrimental to successfully bringing innovative ideas to market. There is a critical transition from business development to sales, and if made prematurely it will … Continue reading “Sales Is Toxic to Innovation”

NeuMoDx Molecular Garners $19,999,995 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4624a237-dc5b-4919-b4c8-f970224b15dd Date 4/29/2016 Company Name NeuMoDx Molecular Mailing Address 1250 Eisenhower Place Ann Arbor, MI 48108 USA Company Description NeuMoDx Molecular, Inc. will provide hospital and clinical reference laboratories with a vastly superior solution for in vitro molecular diagnostic (MDx) testing. Website http://www.neumodx.com Transaction Type Venture Equity Transaction Amount $19,999,995 Transaction Round … Continue reading “NeuMoDx Molecular Garners $19,999,995 New Funding”

TechFest 2016

Hosted by Vision Computer Solutions, this event is designed to introduce IT professionals to the latest technology to increase business profitability and productivity. Attendees can also expect to network with business owners and IT experts. Click here for more information.

Free C# Crash Course

The Iron Yard, one of the largest coding schools in the country, is celebrating the launch of its Detroit campus by offering a free crash course before full-time classes start. Titled “Building Hangman with .Net,” the class will teach the basics of C# and offer more information about upcoming classes. No prior knowledge of programming … Continue reading “Free C# Crash Course”

HackWSU

Calling all young techies: Wayne State’s College of Engineering and Blackstone LaunchPad invite you to participate in HackWSU, a 24-hour hackathon. Participants will be asked to write web-based software, create mobile apps, or design computer programs addressing a need or innovation of their choice. The event is open to all Detroit-area college (undergraduate and graduate) … Continue reading “HackWSU”

COP21—The Road Ahead for Sustainability

Last week’s signing of the Paris climate accord successfully returned international efforts on climate change to the media spotlight. As private investors in cleantech startups since 2006, Element 8 members have been following the developments since December very closely. We are notably encouraged about the future of clean technologies in the wake of not just … Continue reading “COP21—The Road Ahead for Sustainability”

Join Maeda, Hillis, Jepsen, & More in Napa May 16-17—Get Your Invite

Carving out time to really ponder the future of our technology landscape can be touch, but it can also be incredibly valuable. And if that time is spent with some of the world’s great innovators, technologists, and investors, all the better. That’s just the opportunity you’ll have at Xconomy’s invitation-only Napa Summit on May 16-17. … Continue reading “Join Maeda, Hillis, Jepsen, & More in Napa May 16-17—Get Your Invite”

Michigan Council of Women in Technology Executive Summit

The half-day forum brings together 1,000 IT leaders, professionals, students, and technologists from a wide range of industries. Participants will explore disruptive technologies and learn how to stay ahead of them, learn about trends transforming workplaces and hear how prominent technology leaders are cultivating fresh perspectives in their organizations. To learn more, click here.

Desktop Metal Grabs $34M to Move Prototype 3D Printers to Market

The stakes just got even higher for Desktop Metal. The Boston-area 3D printing startup burst onto the scene last fall with a nearly $14 million initial funding round from high-profile investors NEA, Kleiner Perkins Caufield Byers, Lux Capital, 3D printing giant Stratasys, and others. Investors poured in the money largely based on faith in the … Continue reading “Desktop Metal Grabs $34M to Move Prototype 3D Printers to Market”

Hacking Health II

TechTown Detroit and WEtech Alliance present the second annual weekend hackathon, designed to break down barriers in health IT innovation. The event also hopes to improve healthcare by inviting technology creators and healthcare professionals to collaborate on realistic, human-centric solutions to front-line problems. Click here for details and registration.

Hybra’s Kickstarter Backers File Complaints, Allege Fraud—And Wait

When we last caught up with Hybra Advance Technology in July 2015, co-founder Joe Thiel told us the company’s legion of disgruntled Kickstarter backers, who forked over nearly $550,000 in 2013 to help Hybra develop wireless headphones called the Sound Band, would soon be made whole. Beta test units of the headphones—which transmit sound through … Continue reading “Hybra’s Kickstarter Backers File Complaints, Allege Fraud—And Wait”

CyberArk-Led Alliance Unites Security Around Privileged Accounts

A new nationwide cybersecurity industry partnership led by CyberArk Software underscores the sector’s increased emphasis on collaboration and unifying software security measures as threats mount around the world. CyberArk (NASDAQ: [[ticker:CYBR]]) today announced the launch of the C3 Alliance, a group of cybersecurity, enterprise software, and other service providers who will integrate into their offerings … Continue reading “CyberArk-Led Alliance Unites Security Around Privileged Accounts”

Swift Biosciences Obtains $3,303,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6bdd28cc-570a-4b77-adb6-06e8c9dfe014 Date 4/27/2016 Company Name Swift Biosciences Mailing Address 58 Parkland Plaza Ann Arbor, MI 48103 USA Company Description Swift Biosciences is developing molecular biology reagents for research and diagnostic applications.Our products help users to detect genes and gene products that other products can’t. We also help users to analyze their samples … Continue reading “Swift Biosciences Obtains $3,303,000 New Round”

Gemphire Therapeutics Garners $5,150,500 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d2799c95-056c-4a3e-9025-17b076dd8ba6 Date 4/27/2016 Company Name Gemphire Therapeutics Mailing Address 43334 Seven Mile Road Northville, MI 48167 USA Company Description Our mission is to develop novel drugs, such as gemcabene, to treat the large, growing unmet need of dyslipidemia patients who are unable to reach optimal LDL cholesterol or triglyceride levels with statin … Continue reading “Gemphire Therapeutics Garners $5,150,500 New Financing Round”

Woodside Distributors Crowned Champion of U-M Startup Competition

The University of Michigan concluded its spring business competition, called The Startup, last week, and, after a four-month pitching process, Woodside Distributors was crowned the champion. Hosted by U-M’s Center for Entrepreneurship, the competition began in January with 21 teams. From that initial field, a panel of local investors—the Mercury Fund’s Adrian Fortino, Jake Cohen … Continue reading “Woodside Distributors Crowned Champion of U-M Startup Competition”

C-STEM Midwest Challenge Designed to Bolster Tech Talent Pipeline

Detroit’s Cobo Center will host the C-STEM Midwest Challenge tomorrow, a competition for PreK-12 students meant to engage them in communications, science, technology, engineering, and math through hands-on projects. C-STEM‘s founder, Reagan Flowers, said exposing kids to STEM early is key to bolstering the tech talent pipeline. Flowers is a Detroit native. She spent her … Continue reading “C-STEM Midwest Challenge Designed to Bolster Tech Talent Pipeline”

Announcing Xconomy Cybersecurity Channel

It doesn’t seem to matter where you live, what you do, or what industry your company is in—the likelihood of a cyber attack is growing, and protecting yourself is ever more front of mind. Xconomy’s editors around the United States have certainly encountered that reality, as they are increasingly covering more and more cybersecurity issues. … Continue reading “Announcing Xconomy Cybersecurity Channel”

Amid Coding School Boom, Eleven Fifty Aims to Meet a Local Need

A little over a year ago, John Qualls, a veteran entrepreneur and leader in the Indianapolis area’s business community, decided to try something slightly different for his next career move. At the time Qualls was working as an executive at BlueLock, a company he started in 2006 that develops software to help clients manage data … Continue reading “Amid Coding School Boom, Eleven Fifty Aims to Meet a Local Need”

MVCA Report Reveals Strengths, Weaknesses of MI’s Capital Community

The Michigan Venture Capital Association (MVCA) hosted a town hall meeting in downtown Detroit Tuesday to discuss the contents of its annual report, which takes a deep dive into the state’s venture investing ecosystem to get a sense of the current landscape and how it compares not only to past years, but the rest of … Continue reading “MVCA Report Reveals Strengths, Weaknesses of MI’s Capital Community”

Credential Stealing as Attack Vector

Traditional computer security concerns itself with vulnerabilities. We employ antivirus software to detect malware that exploits vulnerabilities. We have automatic patching systems to fix vulnerabilities. We debate whether the FBI should be permitted to introduce vulnerabilities in our software so it can get access to systems with a warrant. This is all important, but what’s … Continue reading “Credential Stealing as Attack Vector”

Comet Solutions Obtains $531,509 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d3c19f95-6980-426b-84bd-fcbfcc92ca88 Date 4/20/2016 Company Name Comet Solutions Mailing Address 200 East Big Beaver Road Troy, MI 48083 USA Company Description The Comet SimApp Authoring Workspace is an integrated environment to help the experts rapidly build, analyze, and optimize the Intelligent (simulation) Templates that are at the core of SimApps. Website http://www.cometsolutions.com Transaction … Continue reading “Comet Solutions Obtains $531,509 New Funding”

Roundup: Ford, SPLT, Digital Divas, Invest Michigan, & More

Here’s a look at startup and innovation news from around Michigan: —Ford recently began a 10-year transformation of its Dearborn headquarters with the goal of creating a “modern, green, and high-tech campus to foster innovation and help drive the company’s transition to an auto and a mobility company,” according to a press release. The 60-year-old … Continue reading “Roundup: Ford, SPLT, Digital Divas, Invest Michigan, & More”

Ready Or Not: Next Alzheimer’s Drugs Might Strain Health Systems

By 2029, more than 20 percent of people in the United States will be over the age of 65. That’s why the race to find effective treatments for Alzheimer’s disease feels urgent. A few drugs, approved well over a decade ago, can slow patients’ mental decline for some time. But everything else that has reached … Continue reading “Ready Or Not: Next Alzheimer’s Drugs Might Strain Health Systems”

MSU Highlights New Campus-Born Technologies, Names Conquer Cohort

Michigan State University hosted an event last Thursday highlighting its most promising innovations, inventors, and spin-out startups, as well as the first cohort for its new Conquer Accelerator. Charlie Hasemann, the university’s assistant vice president for innovation and economic development and director of MSU’s Innovation Center, emphasized the highlighted technologies’ impact on the community at … Continue reading “MSU Highlights New Campus-Born Technologies, Names Conquer Cohort”

Agenda Posted For Napa Summit: Request Invite to Star-Studded Event

It’s four weeks until Napa Summit 2016: The Xconomy Retreat on the Economy, Jobs, and Growth. We have now posted the agenda, and we’d love to see you there. So request your invitation today to Xconomy’s most prestigious event. The dates are May 16 and 17, starting with a wine reception and dinner at Silver … Continue reading “Agenda Posted For Napa Summit: Request Invite to Star-Studded Event”

First-Quarter VC Activity Buoyant at $12.1 Billion, & Top 10 Deals

Venture capital firms invested $12.1 billion in 969 startup deals nationwide during the first three months of 2016, marking the ninth consecutive quarter when VCs invested at least $10 billion in new companies, according to the MoneyTree Report. The top 10 deals accounted for 25 percent of all capital deployed during the quarter, and was … Continue reading “First-Quarter VC Activity Buoyant at $12.1 Billion, & Top 10 Deals”

Blue Cross Invests in Hygieia, Partners on Diabetes Management Pilot

Insurance provider Blue Cross Blue Shield of Michigan, in its quest for better and cheaper patient care, has formed a new partnership with Ann Arbor, MI-based startup Hygieia. As part of the arrangement, Blue Cross will invest an undisclosed amount in the company, which has developed a digital insulin guidance system called d-Nav, and launch … Continue reading “Blue Cross Invests in Hygieia, Partners on Diabetes Management Pilot”

Detroit Big Winner in Knight Contest for Innovative Civic Projects

The Knight Foundation announced the winners of its annual Knight Cities Challenge competition today, and Detroit-centered projects cleaned up. Out of the approximately 4,500 applications submitted nationwide, 767 came from Detroiters—more than any other city “by a pretty wide margin,” organizers said. Perhaps it’s not surprising, then, that of the 37 winners, six were from … Continue reading “Detroit Big Winner in Knight Contest for Innovative Civic Projects”

A Pivotal Factor In M&A Deals: Cyber Risk

Big merger and acquisition proposals trigger intense examinations of the benefits and risks of the deal from both sides—valuations, assets, legal liabilities, operational risk exposures, and compatibility, among others. However, it is also critical that companies elevate another factor to the top of the priority list: their cyber risk exposure. The pending acquisition of Starwood … Continue reading “A Pivotal Factor In M&A Deals: Cyber Risk”

Steve Case’s Rules for Building Startups in Internet’s “Third Wave”

Software could be poised to truly transform entrenched sectors like healthcare, education, financial services, and more. But the next wave of software companies will take longer to build than some entrepreneurs have grown accustomed to in the smartphone era, and success will require more patience and willingness to work closely with policymakers and industry stakeholders. … Continue reading “Steve Case’s Rules for Building Startups in Internet’s “Third Wave””

The Case For An Internet Franchise Model

Internet service in America is not what it should be. Most consumers have two choices for access: the phone company or the cable company. By a quirk of fate, networks built with cables designed for television service can deliver more Internet bandwidth than networks built with cables designed for telephone service. So, the cable company … Continue reading “The Case For An Internet Franchise Model”

Karamba Security Lands $2,500,000 Seed Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5975f2c0-1bfd-492d-b450-f0561bfa8d28 Date 4/8/2016 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 Lands $2,500,000 Seed Financing Round”

How Startups Can Run Better Landing Page Tests

In today’s fast-changing world, new product teams are constantly pushed to do more faster. They need to run fast to keep up with rapidly changing market conditions. Oftentimes it means making decisions about what to invest in with very little information. How can teams validate hypotheses without over-investing on speculative engineering projects, and potentially losing … Continue reading “How Startups Can Run Better Landing Page Tests”

Roundup: Hacker Fellows, WSU, Rebrand Detroit, Sapa Technology

[Corrected, 10:20am. See below] Here’s a look at startup and innovation news from around Michigan: —Hacker Fellows, the Detroit-based training program that places computer science graduates in developer roles at high-growth tech startups across the state, will hold an interview day on April 8 to introduce its fellows to potential employers. Now in its second … Continue reading “Roundup: Hacker Fellows, WSU, Rebrand Detroit, Sapa Technology”

Announcing Xconomy Indiana—11th Region in Our Network

Just over two years ago, when we launched Xconomy Wisconsin as the ninth region in our network, I wrote: “There are no flyover zones in the United States. That’s the way Xconomy views the map, anyway, because we see innovation happening all over America.” Since that time, we expanded again, to Raleigh-Durham. And I am … Continue reading “Announcing Xconomy Indiana—11th Region in Our Network”

NIH Awards $3.6M to Expand WSU Program for Minority Science Students

A Wayne State University program to help nurture budding scientists has been so successful, the National Institutes of Health has given it an additional $3.6 million in funding, which will enable it to grow and run at least another five years. The Initiative for Maximizing Student Development (IMSD) is designed to support underrepresented students and … Continue reading “NIH Awards $3.6M to Expand WSU Program for Minority Science Students”

Software Study Ranks San Diego #7, Cites Prowess in Scientific R&D

A study to assess the strength of San Diego’s software sector has determined that it ranks seventh among the top 50 U.S. metropolitan areas, according to a “software power index” that weighs a variety of economic factors. The study, released last week by the San Diego Regional Economic Development Corp., is the first comprehensive analysis … Continue reading “Software Study Ranks San Diego #7, Cites Prowess in Scientific R&D”

Making the Price Right: Ideas To Change Drug Costs Gain Momentum

If the U.S. presidential primaries continue their current trajectories, the two contenders come autumn will have at least one thing in common: a stated desire to do something about high drug prices. Maybe you believe them, and maybe you think they’re blowing smoke up our nether regions. But momentum is momentum. With consumers, doctors, and … Continue reading “Making the Price Right: Ideas To Change Drug Costs Gain Momentum”

International Student STEM Job Fair

The Global Talent Retention Initiative hosts what is believed to be the largest event of its kind. The job fair focuses on matching skilled international students to STEM jobs with employers who have expressed a willingness to use the Optional Practical Training portion of a student visa to hire them. For more information, click here.

Napa Summit 2016: Request Your Invite to Our Most Special Event

There are all sorts of reasons for requesting an invitation to Xconomy’s Napa Summit, which will take place in just six weeks—on May 16-17.  One is the fantastic array of speakers: John Maeda, design partner at Kleiner, Perkins, Caufield, and Byers; virtual reality virtuoso Mary Lou Jepsen of Facebook/Oculus; tech investor Esther Dyson; computing visionary … Continue reading “Napa Summit 2016: Request Your Invite to Our Most Special Event”

Genomenon, SPLT, Entrocim Compete to Pitch at Google Demo Day in CA

Three Detroit-area startups are vying for a spot in a national pitch contest at Google’s California headquarters, after winning the third annual Google Demo Day held in downtown Detroit on Tuesday. The winners were SPLT, Entrocim, and Genomenon. Over the next few weeks, Google will choose one of those finalists to head to Mountain View, … Continue reading “Genomenon, SPLT, Entrocim Compete to Pitch at Google Demo Day in CA”