It has been quite a year for one-word headlines: Ebola, Sony, Uber, WhatsApp, to name a few. Behind those headlines are complex issues in business and technology that came to the fore in 2014. Things like impediments to vaccine development; mounting threats in cybersecurity and privacy; the regulatory and cultural struggles of high-flying startups; and … Continue reading “14 for ’14: Xconomy’s Top Innovation Stories of the Year”
Category: Detroit
To Diversify the Innovation Community, Jump-Start Female Entrepreneurship
Just about a year ago at this time, I read a report that made me ask myself whether I was doing enough—and the right kind of “enough”—to encourage diversity in our technology startup community and innovation ecosystem here in Boston/Cambridge. Fortunately, when I looked at the startups in my portfolio of seed investments, I found … Continue reading “To Diversify the Innovation Community, Jump-Start Female Entrepreneurship”
Expand Our Notion of Success from Wealth Creation to Value Creation
We have too narrow a view of success in the tech community, fueled by investors wanting big returns, business schools reinforcing these values, and universities trying to maximize financial returns on their research. Young people see this. Many children of immigrants want to help their parents’ homelands. Many young people want to build a more … Continue reading “Expand Our Notion of Success from Wealth Creation to Value Creation”
10 Bits of Advice for Students Interested in Drug Development
Here are my 10 crucial pieces of advice for students who aspire to a career in pharmaceutical labs: 1. You need a solid foundation in science. Master the basics, and learn how to apply that knowledge. 2. But, try to also take classes and build skills in complementary areas like business, legal topics (especially intellectual … Continue reading “10 Bits of Advice for Students Interested in Drug Development”
Kicking the Cyber Attack Can Down the Road
By far the most important issue where the can got “kicked down the road” is any kind of concerted effort to deter or dissuade cross-border cyber-crime, cyber-attacks, cyber-vandalism and other various forms of hacking mischief. As more and more people become reliant of digital devices and networks for their livelihoods and leisure, their vulnerability to … Continue reading “Kicking the Cyber Attack Can Down the Road”
From STEM to C-Suite, Steps to Improve Technology’s Gender Balance
Gender and diversity problems certainly aren’t new for either the technology community or for business in general. Over the past several decades, women and minorities have worked to gain access to higher levels within organizations, and many white males already in senior roles have also worked to address these issues. However, progress has been slow, … Continue reading “From STEM to C-Suite, Steps to Improve Technology’s Gender Balance”
Biggest Surprises in 2014: Apple After Steve Jobs
What was the biggest surprise of the year? The continued success of Apple. It’s been a quiet period after Jobs’s disappearance and it is very difficult to step into those shoes, I had not counted on the success. The iPhone 6 is a marvel even if it’s not a groundbreaking innovation. But the Apple Watch … Continue reading “Biggest Surprises in 2014: Apple After Steve Jobs”
Simple Steps Toward More Inclusive Entrepreneurship
At conferences, meetups, and events, my colleagues and I often lament the lack of diversity in the audience, particularly the lack of women. Organizations like the Doyenne Group here in Madison, WI, are doing great things to cultivate entrepreneurship among women. Some recent changes in my life, however, have given me a new perspective on … Continue reading “Simple Steps Toward More Inclusive Entrepreneurship”
What’s Missing From Education? Critical Thinking
There is too little emphasis on teaching critical thinking skills in schools. Many adults have little understanding of important science and technology issues, which leaves them open to poor decision making on matters that will affect both their families as well as society in general. A good example would be a failure to understand and … Continue reading “What’s Missing From Education? Critical Thinking”
What’s the Most Important Issue That Didn’t Get Addressed in 2014?
Immigration. Very sad and shows how deeply dysfunctional our system is. This is really hurting innovation—and other countries, like Canada, U.K., Chile and Spain, have moved way ahead of us. Very frustrating. [Editor’s note: To tap the wisdom of our distinguished group of Xconomists, we asked a few of them to answer this question heading … Continue reading “What’s the Most Important Issue That Didn’t Get Addressed in 2014?”
Molecular Imaging Research Secures $1,535,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=59b69171-960b-4a2b-bf7b-0c0ade3c37dc Date 12/24/2014 Company Name Molecular Imaging Research Mailing Address 800 Technology Dr. Ann Arbor, MI 48108 USA Company Description Molecular Imaging Research, Inc. (MIR) is a specialty contract research organization (CRO) located in Ann Arbor, Michigan. MIR employs a wide array of imaging technologies including preclinical MRI, CT (µCT), high resolution … Continue reading “Molecular Imaging Research Secures $1,535,000 New Financing Round”
HistoSonics Lands $1,500,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=29f6cf46-58d0-45f8-9c7c-5c38f915e5ca Date 12/24/2014 Company Name HistoSonics Mailing Address 3626 W. Liberty Rd. Ann Arbor, MI 48103 USA Company Description HistoSonics Inc which will develop a novel medical device that uses tightly focused ultrasound pulses to treat prostate disease. Website http://www.histosonics.com Transaction Type Debt Transaction Amount $1,500,000 Transaction Round Undisclosed Proceeds Purposes Proceeds … Continue reading “HistoSonics Lands $1,500,000 New Funding Round”
SAIC Founder J. Robert Beyster Dies
J. Robert “Bob” Beyster, the nuclear physicist who founded Science Applications International Corp.—the multibillion-dollar government contractor better known as SAIC—died of natural causes yesterday at his home in San Diego. He was 90 years old. Beyster was a Cold War scientist who founded SAIC to tackle some of the nation’s most-difficult problems in national security—and … Continue reading “SAIC Founder J. Robert Beyster Dies”
Sisu Global Health Wins $250K Grant, Launches Indiegogo Campaign
Sisu Global Health, a Grand Rapids, MI-based medtech startup focused on making products for the developing world, launched an Indiegogo campaign last week to fund a training workshop in Zimbabwe that will teach doctors how to use its Hemafuse product. The company hopes to raise $45,000 by Jan. 16. So far, 20 donors have ponied … Continue reading “Sisu Global Health Wins $250K Grant, Launches Indiegogo Campaign”
The Sony Wake-Up Call
[Corrected, see below] The Sony saga continues. Last week, the FBI said there is enough information to conclude that the North Korean government is responsible for the Sony cyberattack. Now some are beginning to wonder how the U.S. should retaliate. Surely, new developments will continue to unfold, but our focus remains on what this breach … Continue reading “The Sony Wake-Up Call”
Rethinking Venture Philanthropy After the Kalydeco Windfall
The Cystic Fibrosis (CF) Foundation’s big win in venture philanthropy can fuel constructive competition among companies developing innovative CF drugs, benefiting both patients and the healthcare system by increasing future treatment options and reducing their cost. CF is a fatal genetic disease affecting around 30,000 people in the U.S. that is caused by mutations in … Continue reading “Rethinking Venture Philanthropy After the Kalydeco Windfall”
Arborlight: LED-Based Skylights and Sunshine in Real Time
Cubicle World, that mythical place where many of today’s office workers dwell, can be very dreary. These cramped little warrens are often marked by a lack of windows, harsh lighting, stale air, and screwy temperatures—the air conditioning blasts in the winter; the heat roars in the summer. Functionality and affordability rule, and somewhere much farther … Continue reading “Arborlight: LED-Based Skylights and Sunshine in Real Time”
Snyder Creates New State Dept. of Talent and Economic Development
As its economy recovers from a decade-long slump, Michigan has become a place where the need for talent far outpaces the local workforce available to fill all of the open positions—nearly 82,000 job openings are currently listed on the state’s Pure Michigan Talent Connect website. The need for tech talent is particularly keen, and it’s … Continue reading “Snyder Creates New State Dept. of Talent and Economic Development”
Quikkly Receives $1,000,000 Seed Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d25dbfb3-795d-4731-a700-38f1383256bc Date 12/18/2014 Company Name Quikkly Mailing Address 1528 Woodward Ave. Detroit, MI 48226 USA Company Description Quikly delivers the thrill of randomly released promotions which reward people who act quicker than others. We turn consumers into competitors who battle it out to lock in the best prices and biggest deals. Website … Continue reading “Quikkly Receives $1,000,000 Seed Funding Round”
Ann Arbor’s FarmLogs Closes $10M Series B, Plans New Premium Features
The Ann Arbor, MI-based ag tech startup FarmLogs announced today that it has raised a $10 million Series B round of funding. The round included repeat investors Huron River Ventures, Hyde Park Ventures, and Drive Capital, as well as new investment from Sam Altman, president of Y Combinator, and SV Angel. “It’s very exciting,” Vollmar … Continue reading “Ann Arbor’s FarmLogs Closes $10M Series B, Plans New Premium Features”
FarmLogs Lands $10,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=87d4b8c5-d88f-430c-b675-a2c36df4fd07 Date 12/17/2014 Company Name FarmLogs Mailing Address 201 E. Liberty St. Ann Arbor, MI 48104 USA Company Description Our mission at FarmLogs is to invent the future of farming. Agriculture employs over 36% of the global workforce, and FarmLogs is creating innovative technology to make it more efficient and more profitable … Continue reading “FarmLogs Lands $10,000,000 Series B Financing Round”
MCWT Aims to Make Michigan the Top State for Women in Technology
The tech industry has a well-known gender diversity problem, but in Michigan, there’s a group working to make the Great Lakes state a leader in terms of recruiting and inspiring women working in technology. The Michigan Council of Women in Technology (MCWT) began in 2000 as a networking organization for working women. Since then, it … Continue reading “MCWT Aims to Make Michigan the Top State for Women in Technology”
Coming Soon to a Theater Near You: Magnovision?
When the ads for Mars vacations came on the TV, Doug Quaid couldn’t turn away. He thought about Mars at work, dreamed about it at night, badgered his wife about going there. She reminded him that they couldn’t afford it—and anyway, Saturn is much nicer. But he could not get Mars out of his head. … Continue reading “Coming Soon to a Theater Near You: Magnovision?”
Intrigue and Outdated Rules Complicate Big Biotech Patent Fight
How’s this for strange? What’s likely the most important biotech patent battle of the decade is now being fought under outmoded rules that the U.S. Congress, in a rare spasm of common purpose three years ago, agreed roundly were due for a once-in-a-lifetime overhaul. The fight is over CRISPR/Cas9, a potential Nobel-winning biotech discovery, and … Continue reading “Intrigue and Outdated Rules Complicate Big Biotech Patent Fight”
Great Lakes Ag Tech Business Incubator Seeks Farmer-Entrepreneurs
Michigan is the second-most agriculturally diverse state in the nation after California, producing everything from blueberries to black beans to begonias. Now, organizers of a new startup accelerator want to add ag-tech software and equipment to that bounty. Called the Great Lakes Ag Technology Business Incubator, the non-profit program will be overseen by officials from … Continue reading “Great Lakes Ag Tech Business Incubator Seeks Farmer-Entrepreneurs”
Roundup: Delphinius Medical Technologies, Fontinalis, U-M, Detroit Labs
Here’s a look at news from around Michigan’s innovation hubs: —Fontinalis Partners, a Detroit-based venture capital firm focused on early-stage mobility and transportation startups, has launched a new Special Venture Partner (SVP) program in an effort to enhance the firm’s capabilities and reach new markets. The SVPs will serve as advisors to Fontinalis portfolio companies. … Continue reading “Roundup: Delphinius Medical Technologies, Fontinalis, U-M, Detroit Labs”
How Big Data Improves Sales Management and Predicts Performance
Enterprises worth their salt typically use a set of standard key performance indicators (KPIs) to evaluate progress, but there are limits to the effectiveness of these measures in improving or predicting future performance. According to Harvard Business Review, the top KPIs in sales include average annual quota and quota attainment average. The former describes the … Continue reading “How Big Data Improves Sales Management and Predicts Performance”
Ford, Magna, Verizon Help Launch Techstars Program in Detroit
If you’re looking for further validation that Detroit’s tech ecosystem is gaining respect in the eyes of the world, here it is: Ford, in partnership with global auto supplier Magna International and Verizon Telematics, will announce today that it is helping to bring the esteemed Techstars startup accelerator to the Motor City. Techstars Mobility will … Continue reading “Ford, Magna, Verizon Help Launch Techstars Program in Detroit”
With Funding from Samsung, Battery Startup Seeo Advances
Material science typically moves slowly, so companies developing better batteries need investors able to stick around for more than just a few years. Seeo has found that some corporate investors are willing to bet on next-generation batteries. The Hayward, CA-based company, which was founded in 2007, today said that the venture arm of Korean tech … Continue reading “With Funding from Samsung, Battery Startup Seeo Advances”
The Risks and Opportunities in a Startup: Age 5 Years and Up
In my last two articles, I explored the top risks and opportunities that startups face during their first five years of existence. In this conclusion to the series, I’d like to discuss the final phase of startup growth—Year 5 and up. If your business has made it to the crucial 5-year mark, that’s a good … Continue reading “The Risks and Opportunities in a Startup: Age 5 Years and Up”
Plymouth Ventures Leads $4.5 Investment Round in CloudOne
Plymouth Ventures, the Ann Arbor, MI-based venture capital firm focused primarily on Midwestern companies, led CloudOne’s Series D round, valued at $4.5 million. CloudOne, based in Indianapolis, brings enterprise applications to the cloud and helps corporations figure out their place in the Internet of Things. The new investment will help the company grow its hybrid … Continue reading “Plymouth Ventures Leads $4.5 Investment Round in CloudOne”
Innovating with Bitcoin at MIT
In November, we began distributing $100 in Bitcoin to every undergraduate student at MIT. A large share of the 4,500 eligible students participated in the project. Bitcoin is an innovative payment network that allows for instant peer-to-peer transactions with zero or very low processing fees on a worldwide scale. The objective of the study is … Continue reading “Innovating with Bitcoin at MIT”
Innovation Hub: Are Entrepreneurs a Dying Breed?
It feels like every day, we hear another story of a 22-year-old who sold his app for millions. But the truth about entrepreneurs may be very different. In fact, if you look at the official data, entrepreneurship in the U.S. has been in decline for over thirty years. We talked to Ben Casselman, the chief … Continue reading “Innovation Hub: Are Entrepreneurs a Dying Breed?”
Detroit’s Rockbridge Acquires Robb Report, Plans Digital Expansion
In most people’s minds, the words “luxury” and “Detroit” don’t immediately go together, but that could change soon: Rockbridge Growth Equity, a private equity firm founded by Dan Gilbert, has acquired Robb Report, arguably the world’s best-known lifestyle magazine dedicated to people for whom money is no object. The terms of the deal were not disclosed. … Continue reading “Detroit’s Rockbridge Acquires Robb Report, Plans Digital Expansion”
Can Data Visualization and Analytics Solve Detroit’s Transit Woes?
There’s a sign above the entrance to the Detroit Department of Transportation (DDOT) building that says, “Through These Doors Pass Transit’s Best.” But ask any regular rider of Detroit’s city bus system how DDOT is functioning, and they would likely disagree with that optimistic motto. Detroit’s transit system has long had the reputation of being … Continue reading “Can Data Visualization and Analytics Solve Detroit’s Transit Woes?”
More Biotechs Belly-Up These Days but Dendreon Still “One of a Kind”
Biotech companies rarely go bankrupt. Sitting where I sit, that bit of conventional wisdom comes around every so often, although it doesn’t generate quite the same buzz as Halley’s Comet or a wardrobe malfunction. Bankruptcy just doesn’t get America jawing over the water cooler on Monday morning. (I can’t imagine why.) If your cooler is … Continue reading “More Biotechs Belly-Up These Days but Dendreon Still “One of a Kind””
Prescription Drug Pricing: The Fine Line Between Value and Greed
Value. It’s one of the most frequently used buzzwords on both Wall Street and in healthcare. Virtually every press release from a publicly traded company assures us that its latest acquisition/layoff/tax inversion/sale of assets was designed “to increase shareholder value.” But what exactly is “value” and how is it measured? Here are some definitions from … Continue reading “Prescription Drug Pricing: The Fine Line Between Value and Greed”
Pixel Velocity Lands $8,295,360 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f181e7ab-b4d9-4d55-b779-5ffa1bc24687 Date 12/2/2014 Company Name Pixel Velocity Mailing Address 3917 Research Park Drive Ann Arbor, MI 48108 USA Company Description A center for image processing research and the development of advanced sensor technology. With more than 30 years of experience working with the most demanding imaging applications in the defense industry, our … Continue reading “Pixel Velocity Lands $8,295,360 New Financing Round”
MSU, U-M Partner to Teach Kids About Genomics, Diversity, STEM Careers
Michigan State University and the University of Michigan will partner on a new program to teach middle schoolers in Detroit and Flint about genomics and evolution in the hopes that it will promote diversity and encourage students of color to pursue a career in science. The five-year program, which is being funded through a $1.2 … Continue reading “MSU, U-M Partner to Teach Kids About Genomics, Diversity, STEM Careers”
Venture Local Teaches Investors, Businesses About MI’s New Laws
Angela Barbash, the founder of Reconsider and Revalue, has made it her mission to help investors back small businesses in their own communities. Now, thanks to legislation enacted in October, Barbash has a new tool in her “locavesting” arsenal: A first-in-the-nation local stock exchange. Though details are still pretty sparse, House Bill 5273, which was … Continue reading “Venture Local Teaches Investors, Businesses About MI’s New Laws”
Startups and 13 States Jumpstart Equity Crowdfunding Without SEC
Ever wanted to own your own little piece of a startup, but found you don’t quite have the money to do it? Well, now you can buy a stake in a local brewery, restaurant, or software company—at least if you live in Wisconsin, Michigan, Washington, Colorado, or other states with new laws that let companies … Continue reading “Startups and 13 States Jumpstart Equity Crowdfunding Without SEC”
Seven Blackstone LaunchPad Ventures Win Best of MichBusiness Honors
Seven ventures from the Blackstone LaunchPad business development initiative at Walsh College in Troy, MI, have been recognized as up-and-coming startups by the Michigan Business and Professional Association (MBPA). As part of the MBPA’s Best of MichBusiness awards program, companies that make Michigan a good place to do business are honored. The LaunchPad program was created at … Continue reading “Seven Blackstone LaunchPad Ventures Win Best of MichBusiness Honors”
The Risks and Opportunities in a Startup: Age 2-5 Years
In my previous article, I discussed the key risks and opportunities that startups face when they’re just starting out. This time, I’d like to go one step further to the second phase of a startup’s growth: age 2-5 years. This is a critical period. The initial excitement of starting a business is over, and now … Continue reading “The Risks and Opportunities in a Startup: Age 2-5 Years”
Vecna CTO Builds Solar-Powered Volkswagen Bus—And it Actually Works
Trying to run an electric car from solar cells on the car’s roof makes no sense—or so I thought. Earlier this week, I met with Daniel Theobald, the CTO of healthcare company Vecna, who has been driving a solar-powered Volkswagen bus for a year. His project won’t transform the auto industry overnight. But by taking … Continue reading “Vecna CTO Builds Solar-Powered Volkswagen Bus—And it Actually Works”
Mobile Monday Detroit Year-End Wrap-Up
Mobile Monday Detroit holds its monthly meeting, this time discussing what happened in mobile in 2014 and what the future holds. Speakers include Randy Nunez, senior network engineer at Ford; Glenn Everitt, technical and mobile consultant for Compuware; and Linda Daichendt, executive director of the Mobile Technology Association of Michigan. For details and registration, click … Continue reading “Mobile Monday Detroit Year-End Wrap-Up”
IT Job Fair
Qstride hosts an information technology job fair designed to give technologists seeking new careers a running start to the 2015 job hunt. Job seekers are encouraged to pre-register at Eventbrite and are expected to bring a digital resume, dress professionally, and be prepared to interview on the spot for one of 30 open positions.
Talent Shortage: Curse or Opportunity?
Automation Workz hosts this “live family video game” organized as a competitive scavenger hunt to encourage teens and their parents to investigate a STEM-related career. Families will do hands-on activities in 3D design, robotics, mechatronics, spatial reasoning, and mathematics while the North American Auto Show is going on in the same building. To register for … Continue reading “Talent Shortage: Curse or Opportunity?”
Bio-Based Materials: Ready for Mainstream?
The Center for Automotive Research hosts the latest installment in its breakfast briefing series. Includes speakers from BASF, Ford, RheTech, and IAC discussing how their companies are producing bio-based materials to be used in manufacturing vehicles. For details, click here.
Roundup: NextEnergy, Start Garden, LLamasoft, Atterocor, U-M, More
Here’s a look at news from around Michigan’s innovation hubs: —NextEnergy, the Detroit-based nonprofit driving the development of Michigan’s clean energy sectors, has officially launched NextChallenge, a business competition meant to inspire the development of innovative energy solutions. The challenge will address the unique lighting technology needs of Ford Motor Company and RecoveryPark, a major … Continue reading “Roundup: NextEnergy, Start Garden, LLamasoft, Atterocor, U-M, More”
Tricycle Collective Aims to Help Families Avoid Tax Foreclosure
The Wayne County tax auction is held every fall with the goal of getting blighted or otherwise neglected properties in Detroit, which have fallen into tax or mortgage delinquency, back into the hands of tax-paying homeowners. But many of those homes on the auction block still have people living in them, and some of those … Continue reading “Tricycle Collective Aims to Help Families Avoid Tax Foreclosure”