The Michigan Business Challenge, the University of Michigan’s annual business competition for innovative student-led startups, ended Monday after a four-month process that incorporated guidance from mentors and investors. Over the course of the competition, more than $100,000 was awarded to the winners. This year’s big winner was precision medicine startup PreDxion Diagnostics, which nabbed $30,000 … Continue reading “Student-Led Startups Take Center Stage at U-M Business Competition”
Category: Detroit
Dyson, Maeda, Jepsen, & More at Our Napa Summit–Request Your Invite
Forget for a moment our truly mind-blowing presidential possibilities. Consider instead the wellspring of innovators and innovation out there, and you’ll feel better about the future, no matter where your political anxieties lie. And then imagine coming to Napa in mid-May to join Xconomy at our most special event—where you will enjoy first-hand interaction with … Continue reading “Dyson, Maeda, Jepsen, & More at Our Napa Summit–Request Your Invite”
Source: IBM Security to Acquire Resilient Systems for $100M+
[Updated, 2/24/16, 12:45pm] IBM is adding to its arsenal of acquisitions in cybersecurity. Resilient Systems, a Cambridge, MA-based company that helps organizations respond to cyber attacks, is being bought by IBM Security, according to two sources with knowledge of the deal. One source puts the acquisition price at more than $100 million. The deal’s financial … Continue reading “Source: IBM Security to Acquire Resilient Systems for $100M+”
Realizing the Return on Digital Health Technologies
A “Wired for Health” study recently reported by The Scripps Translational Science Institute in San Diego poses a significant challenge for those working to realize the potential of digital health technologies. The Scripps team has been investigating the relationship between wireless health-monitoring technologies, healthcare costs, and outcomes in patients with chronic disease. After equipping one cohort of patients … Continue reading “Realizing the Return on Digital Health Technologies”
Grand Angels Report Highlights Record-Breaking Year
According to an annual report highlighting key milestones, Grand Angels, one of Michigan’s busiest angel-investing collectives, had a record-breaking year in 2015. Last year, Grand Angels invested $3.5 million in 12 deals, bringing the total amount of capital deployed since it launched in 2004 to $19.6 million. Compared to 2014, Grand Angels increased its total … Continue reading “Grand Angels Report Highlights Record-Breaking Year”
Investor Survey, Part 2: A Pair of Seattle VCs on 2016 Themes
Will a new crop of Seattle startups rise to world domination? Will virtual or augmented reality applications create the next powerhouse tech company? Those are two of the overriding hopes and ambitions emerging from the Seattle segment of my informal cross-country survey of leading investors as I seek to unearth core investment themes and premises … Continue reading “Investor Survey, Part 2: A Pair of Seattle VCs on 2016 Themes”
Finding Innovation in the Modern Data Center
The modern data center is going through a period of transition. Traditional data center infrastructures are increasingly giving way to disruptive and innovative technologies such as cloud computing and hyperconvergence. Business demands and IT challenges are forcing executives to take a longer look at investments that will accelerate innovation, provide a competitive advantage, and achieve … Continue reading “Finding Innovation in the Modern Data Center”
Roundup: Swift Biosciences, ONL, Application Deadlines, & More
Here’s a look at innovation news from around Michigan: —Challenge Detroit, a leadership and professional development program that takes fellows from around the country and places them at a local partner company for a year, is now accepting applications for its 2016-2017 cohort. For the first time since the program’s inception in 2012, Detroit-area companies … Continue reading “Roundup: Swift Biosciences, ONL, Application Deadlines, & More”
Armune BioScience Secures $5,552,032 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=013e018e-2439-4a06-a3da-71828838d761 Date 2/19/2016 Company Name Armune BioScience Mailing Address 350 East Michigan Ave. Kalamazoo, MI 49007 USA Company Description Armune BioScience, Inc. will develop and commercialize molecular diagnostic and prognostic tests for prostate, lung and breast cancers that will allow physicians and patients to make more personalized treatment decisions. Website http://www.armune.com Transaction … Continue reading “Armune BioScience Secures $5,552,032 New Funding”
Watson Health Buying Truven in $2.6B Megadeal for Data
IBM Watson Health is growing through a major acquisition that consolidates the worlds of clinical data and employer and insurance data. The healthcare-computing division of Big Blue is announcing today its plan to acquire Truven Health Analytics for $2.6 billion. For now, IBM declined to specify the financial structure of the deal. A spokeswoman said … Continue reading “Watson Health Buying Truven in $2.6B Megadeal for Data”
A North Carolina High School that Spins Out Entrepreneurs
Over the years, many successful ventures have emerged from North Carolina’s rich concentration of university researchers. Some of the state’s innovators get an even earlier start: high school. North Carolina School of Science and Mathematics (NCSSM) began in 1980 as an innovation itself, founded as a public residential high school for academically talented high school … Continue reading “A North Carolina High School that Spins Out Entrepreneurs”
Detroit-Based Weyn Accepted into Silicon Valley Game Accelerator
It can be challenging for Detroit startups to attract the attention of Silicon Valley’s power players, especially when they’re competing in sectors that are firmly planted in the Bay Area. That’s why it’s big news that Weyn, a Motor City mobile gaming company, has been accepted into the Core Labs Game Accelerator, which is affiliated … Continue reading “Detroit-Based Weyn Accepted into Silicon Valley Game Accelerator”
Medical Devices Tie-up: Stryker to Buy Physio-Control for $1.28B
Physio-Control, a progenitor of the Seattle-area medical devices industry, will again become part of a large public company headquartered elsewhere. Kalamazoo, MI-based Stryker (NYSE: [[ticker:SYK]]) has agreed to buy the maker of automated external defibrillators and other devices for $1.28 billion in cash. For Stryker, Physio-Control is the third acquisition announced this month and its 20th since 2010. Stryker … Continue reading “Medical Devices Tie-up: Stryker to Buy Physio-Control for $1.28B”
“Innovation” in a Competitive Startup Economy
Seventy-three percent of U.S. adults agree that we’re living in an age of significant innovation. Indeed, the pace at which new products and services are being developed is truly incredible. In 2014 alone, the U.S. Patent and Trademark Office (USPTO) granted a record 300,678 utility patents – the most issued in a single year, ever. … Continue reading ““Innovation” in a Competitive Startup Economy”
Biotech’s Recent Headlines, Reimagined In Verse and On Stage
Dear Theranos, I noticed recently that you’re looking for a writer to work in your Palo Alto office. Please don’t tell my bosses at Xconomy, but I’m throwing my hat in the ring. In your job posting, the final requirement in particular made me think I’d be a good fit: Bold experimentation in different … Continue reading “Biotech’s Recent Headlines, Reimagined In Verse and On Stage”
Campless Morphs Into StockX, a “Stock Market” for Sneakers
In October, we brought you the news that Campless, a Philadelphia-based website calling itself the “Kelley Blue Book for sneakers,” had relocated to Detroit at the behest of investor Dan Gilbert. On Monday, Campless morphed into a new venture called StockX, which CEO Josh Luber described as the world’s first online “stock market of things,” … Continue reading “Campless Morphs Into StockX, a “Stock Market” for Sneakers”
Can Innovation Improve Lives of Vulnerable Children and Families?
Technological innovation is rare in the human services field because most service providers operate with limited resources and they are forced to choose between serving more families or investing in technology. In addition, most funding in human services comes from government sources, which rely on paper processes for accountability. More specifically, social service providers lack … Continue reading “Can Innovation Improve Lives of Vulnerable Children and Families?”
TRImaran Licenses WSU Compounds to Develop Neuro Drugs
TRImaran Pharma aims to take on a group of neurological diseases, like depression, by developing drugs that impact three different types of neurotransmitters in the brain. Those drug prospects come from Wayne State University, which licensed a group of molecules to the company this week for an undisclosed sum. Aloke Dutta, a pharmaceutical sciences professor … Continue reading “TRImaran Licenses WSU Compounds to Develop Neuro Drugs”
Inventev Nabs $500K Grant to Test Mobile Power Generation Technology
Inventev, the Detroit-based cleantech startup working on mobile power generation via plug-in hybrid electric vehicle architecture, announced Monday that it has snagged a $500,000 grant from the U.S. Department of Energy (DOE). Inventev’s CEO and founder, Dave Stenson, said the company will use the money to model, develop, and test key elements of its drive … Continue reading “Inventev Nabs $500K Grant to Test Mobile Power Generation Technology”
Coming Soon: Coding Lab, Co-Working Space, and More in Highland Park
Highland Park, for those who don’t know, is a separate city within Detroit’s borders—along with Hamtramck, it’s actually one of two sovereign cities inside Detroit—and for a long time, it’s been considered by many to be Detroit’s shabbier, financially ruined cousin. Once an upscale enclave that was home to Henry Ford’s first assembly line and, … Continue reading “Coming Soon: Coding Lab, Co-Working Space, and More in Highland Park”
Patient IO Wants to Improve Care Management with Mobile Thinking
Austin — [Updated 5/5/16, 4:34 p.m. See below.] When Jason Bornhorst created Filament Labs about three years ago, the goal was to build a business that promotes healthy habits, intended to be distributed through insurance companies. “We pretty quickly figured out there was not a strong business there,” he says. The software was strong enough … Continue reading “Patient IO Wants to Improve Care Management with Mobile Thinking”
Flint’s Water, Wicab, & New Leaders: This Week’s Wisconsin Watchlist
The water crisis in Flint, MI, funding announcements, and personnel changes are among these recent headlines from Wisconsin’s innovation community: —The physician who detected problems with Flint’s water supply and escalated her findings, bringing to light the city’s current water crisis, did so using software developed by Verona-based Epic Systems, the Wisconsin State Journal reported. … Continue reading “Flint’s Water, Wicab, & New Leaders: This Week’s Wisconsin Watchlist”
4 Worst-Case Scenarios That Make the Case For Disaster Recovery
It’s a topic frequently heard in board meetings and splashed across the news: storm-related data loss and downtime trigger threats to our IT environments. For instance, last winter in New England caused a scare among executives and IT professionals alike. Record-breaking snowfall and increased risks to regional business data created a huge buzz about the … Continue reading “4 Worst-Case Scenarios That Make the Case For Disaster Recovery”
One Writer’s Strategy for Avoiding Information Overload
This week one of my favorite podcasts, WNYC’s Note to Self, is featuring a project called Infomagical. Every day the show is sharing new challenges designed to help listeners cope with information overload. We all know that feeling of being so far behind on the e-mails, texts, articles, and all the other stuff our digital … Continue reading “One Writer’s Strategy for Avoiding Information Overload”
Roundup: Swift Biosciences, Champion of Change, Innovation Research
Here’s a look at innovation news from around Michigan: —Ann Arbor’s Swift Biosciences announced last week it will partner with SeraCare Life Sciences to accelerate development of novel circulating tumor DNA reference material to be used in liquid biopsies and next-generation sequencing. The terms of the deal were not disclosed. In a press release, Swift Bioscience’s … Continue reading “Roundup: Swift Biosciences, Champion of Change, Innovation Research”
Improving Odds for Women in Tech? Take Notes from Biotech
At our entrepreneurial support organization, the Council for Entrepreneurial Development (CED), we often joke about adhering to the proper dress and catering code for our networking events: jeans and beer for tech; suits, wine and cocktails for life sciences. But there is more to these superficial differences between the two networks serving 1,200 entrepreneurial companies … Continue reading “Improving Odds for Women in Tech? Take Notes from Biotech”
Polaris Partners Unveils New Startup Notarize with $2.4M Funding
The market for notarizations may not strike you as a booming industry, but it accounts for billions of transactions annually, according to Polaris Partners’ Pat Kinsel. Kinsel, a venture partner at the Boston-based firm, says there are an estimated 1 billion to 2.5 billion documents notarized each year, making it a $30 billion market. Even … Continue reading “Polaris Partners Unveils New Startup Notarize with $2.4M Funding”
Blood Simple? Grail’s Cancer Screening Quest Faces Tough Questions
[Corrected, 2/4/16, 2:05pm. See below.] Three weeks ago the world’s biggest genomic sequencing company, Illumina (NASDAQ: [[ticker:ILMN]]), unveiled a spinout called Grail to make blood tests that could spot all kinds of cancer in seemingly healthy people, perhaps as soon as 2019. If you know anything about the history of screening healthy people for cancer, … Continue reading “Blood Simple? Grail’s Cancer Screening Quest Faces Tough Questions”
Credibly Garners $70,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=dbdc7dad-ca16-4ca2-ae61-ad6d146b3c79 Date 2/4/2016 Company Name Credibly Mailing Address 1250 Kirts Blvd. Troy, MI 48084 USA Company Description Credibly (formerly known as RetailCapital) is an emerging Fintech platform, leveraging Data Science and technology with an energetic focus on the customer experience. Website http://www.credibly.com Transaction Type Debt Transaction Amount $70,000,000 Transaction Round Undisclosed Proceeds … Continue reading “Credibly Garners $70,000,000 New Financing Round”
NanoBio Secures $1,800,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=279b98f3-ed7b-4025-b25e-3bbc54169d69 Date 2/4/2016 Company Name NanoBio Mailing Address 2311 Green Road Ann Arbor, MI 48105 USA Company Description NanoBio Corporation is a biopharmaceutical company focused on developing and commercializing anti-infective products and mucosal vaccines derived from its patented NanoStat technology platform. Website http://www.nanobio.com Transaction Type Debt Transaction Amount $1,800,000 Transaction Round Undisclosed … Continue reading “NanoBio Secures $1,800,000 New Funding Round”
Social Impact Challenge Students Compete to Solve Complex Problems
Every winter semester, the University of Michigan’s Center for Social Impact partners with a Detroit-based nonprofit on a project that helps the partner organization tackle pressing strategic roadblocks. Now in its third year, the Social Impact Challenge focuses this time around on the Police Athletic League’s (PAL) Kids at the Corner redevelopment campaign to transform … Continue reading “Social Impact Challenge Students Compete to Solve Complex Problems”
How Scientific Social Work Helps People Flourish
Here’s a question for everyone who wants to change the world: Which of these innovations will have more impact on society—a first-of-its-kind experimental vaccine to prevent HIV/AIDS that’s been developed by a venture-capital-backed biotechnology company, or a big-data research study from a social work scholar that identifies the role that alcohol consumption plays in the … Continue reading “How Scientific Social Work Helps People Flourish”
Time to Ease On Down the Road
It’s been a real pleasure writing my guest op-ed pieces for Xconomy for the past six years. I’ve enjoyed sharing my thoughts about a wide spectrum of biopharma topics, and appreciated the feedback I received whether you agreed with my views or not. However, it’s time for me to move on. I’ve already started posting … Continue reading “Time to Ease On Down the Road”
ArborMetrix Lands $1,981,928 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c1270809-fed6-4bd3-a7a8-747e88e5415a Date 2/3/2016 Company Name ArborMetrix Mailing Address 2929 Plymouth Road Ann Arbor, MI 48105 USA Company Description ArborMetrix’s combination of clinical insight and statistical science powers one of the most strategic and flexible solutions your organization can deploy to measure clinical performance and efficiency. Website http://www.arbormetrix.com Transaction Type Venture Equity Transaction … Continue reading “ArborMetrix Lands $1,981,928 New Financing”
One of the Country’s Largest Coding Schools Opens Detroit Campus
The Iron Yard, one of the biggest coding schools in the nation, today announced that it’s opening a Detroit campus, probably in the vicinity of downtown. Starting next month, the Iron Yard will offer two 12-week programs—one devoted to teaching front-end coding skills, and one that covers back-end coding. Each course costs $12,000 per student, … Continue reading “One of the Country’s Largest Coding Schools Opens Detroit Campus”
Nothing Gross About It: Mopec Innovates Autopsy Stations
Back in the early aughts, I never missed an episode of the HBO series “Six Feet Under,” which followed the trials and travails of a funeral home-owning California family. I tuned in for the morbid storylines and superior acting, but there was also a fair amount of the show dedicated to the fascinating ins and … Continue reading “Nothing Gross About It: Mopec Innovates Autopsy Stations”
CRISPR: The Path to Clinical Trials
If you have read a newspaper lately, there is a good chance you have heard about CRISPR-Cas9, the versatile gene editing technology. Over the past several months, legal battles over intellectual property, ethical concerns over editing of the human germline, jaw-dropping partnerships with pharma, and talk of IPOs have crescendoed to a steady roar, reaching … Continue reading “CRISPR: The Path to Clinical Trials”
U.S. Patent and Trademark Office Tour
Cristal Sheppard will answer questions and lead a tour of the U.S. Patent and Trademark Office’s Detroit outpost. Free and open to the public, but reservations are required. To RSVP, click here.
DTX Launch Detroit Information Session
Are you a college student or recent college graduate with a great idea for a tech startup, or a desire to be part of a startup team? Come to this informational session to learn more about DTX’s summer accelerator program. Free and open to the public. Click here to register.
Michigan Bio-Industry Growth Summit
Business Leaders for Michigan, MichBio, and the University Research Corridor host this discussion on how to best unleash Michigan’s biosciences R&D and manufacturing potential to stimulate economic growth. Panelists include Esperion’s Roger Newton and Kevin Lobo, CEO of Stryker. Free and open to the public. For details, click here.
Three Things To Know About Doing Business in California
Since the 1849 gold rush, California has had a reputation as a great place to seek—and find—your fortune. The Golden State is home to the Golden Gate Bridge, the Golden State Warriors and, in Silicon Valley, golden opportunities. But, as you might suspect, California sometimes operates like its own country, with laws that aren’t like … Continue reading “Three Things To Know About Doing Business in California”
Dan Gilbert’s Courtside Ventures Bets $35M on eSports, VR, Wearables
Earlier this month, it was announced that Dan Gilbert, Quicken Loans founder and owner of the Cleveland Cavaliers, has partnered with Bruin Sports Capital and WPP on a new $35 million investment fund. Based in New York City and Detroit, Courtside Ventures will invest in early-stage tech and media startups with a focus on sports. … Continue reading “Dan Gilbert’s Courtside Ventures Bets $35M on eSports, VR, Wearables”
The Right Resources Are Key to Growing Entrepreneurial Ecosystems
One of the more pressing issues for communities that have built emerging entrepreneurial ecosystems is how they can better support growth stage companies. There are many cities and regional hubs around the U.S. that are producing some great companies, with smart founders and talented employees, but without the right resources (outside capital, peer-to-peer mentoring, a … Continue reading “The Right Resources Are Key to Growing Entrepreneurial Ecosystems”
Roundup: URC Report, Harman, Global Detroit, TechShop & More
Here’s a look at innovation news from around Michigan: —This week, Harman, maker of speakers popular with musicians and audiophiles—Harman Kardon is one of the brands associated with the company—celebrated the official opening of its North American headquarters in Novi. The 188,000-square-foot building will house 1,000 employees focused on engineering and developing advanced technology for … Continue reading “Roundup: URC Report, Harman, Global Detroit, TechShop & More”
Top Trends in Online Lending for 2016
Though online lending has been around for over a decade, the past year was a big one for the sector. There was at least one notable IPO in late 2014, a groundbreaking partnership with one of the largest banks in the U.S., and several young online lenders crossed the billion-dollar mark in valuations. Momentum is … Continue reading “Top Trends in Online Lending for 2016”
XG Sciences Receives $4,319,792 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=05e94cee-b7ce-4895-80e9-6f4d96832197 Date 1/26/2016 Company Name XG Sciences Mailing Address 3101 Grand Oak Drive Lansing, MI 48911 USA Company Description XG Sciences, Inc. is a privately held corporation serving customers around the world. Our headquarters are in East Lansing, Michigan Our base technologies were developed in large part at the Composite Materials and … Continue reading “XG Sciences Receives $4,319,792 New Funding Round”
Johnson Controls-Tyco Merger Brings Companies Scale, Tax Savings
Milwaukee-based Johnson Controls announced it has merged with Tyco, in a deal that the two said will deliver cost and tax savings to the combined company, which like Tyco will be headquartered in Cork, Ireland. Johnson Controls’ (NYSE: [[ticker:JCI]]) product line includes heating and cooling equipment for buildings. CEO Alex Molinaroli said Tyco’s (NYSE: [[ticker:TYC]]) … Continue reading “Johnson Controls-Tyco Merger Brings Companies Scale, Tax Savings”
The Hottest Trend at This Year’s Detroit Auto Show? Not Cars
There is never an official theme at the annual North American International Auto Show (NAIAS), held last week in Detroit, but one usually emerges as automakers showcase their latest innovations, hoping to one-up each other while garnering consumer and media interest. One year it was electrification; another year, it was infotainment. This year, the buzzword … Continue reading “The Hottest Trend at This Year’s Detroit Auto Show? Not Cars”
From Airbnb to Uber: An MIT Sloan Tour of Bay Area Tech
I’ve always been curious about the West Coast, especially San Francisco and Silicon Valley. Growing up in India and then working in the oil & gas industry in Latin America and Texas, I didn’t have much opportunity (or reason) to visit the Bay Area. Now that I’m an MBA student at MIT Sloan, I want … Continue reading “From Airbnb to Uber: An MIT Sloan Tour of Bay Area Tech”
iRule Secures $3,005,374 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=11da18ec-eef0-414f-a6c0-bd0b1ea42524 Date 1/25/2016 Company Name iRule Mailing Address 1555 Broadway Detroit, MI 48226 USA Company Description We started as two enthusiast geeks with a passion for movies, home theater, and consumer electronics. Website http://www.iruleathome.com Transaction Type Venture Equity Transaction Amount $3,005,374 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. 1 … Continue reading “iRule Secures $3,005,374 New Funding Round”