Category: Detroit

Hobson Acquisition Helps Zipments Prepare for Holiday Shoppers

Zipments, a New York City-based online delivery and “crowdsourced courier” service, is gearing up for a busy holiday season—and the company is hoping a market expansion and the summer acquisition of a same-day delivery service will pay off. In addition to New York, Zipments now operates in San Francisco, Chicago, and Washington, D.C. As part … Continue reading “Hobson Acquisition Helps Zipments Prepare for Holiday Shoppers”

Baird Capital Raises $185M for 4th VC Fund, Beating Target

Baird Capital says it has raised $185 million for its fourth venture capital fund, exceeding the $150 million target it set when it began courting investors in February. The fourth VC fund is Baird’s largest to date. That’s likely a bit of welcome news for Midwest startups, where venture capital is harder to come by. … Continue reading “Baird Capital Raises $185M for 4th VC Fund, Beating Target”

Breaking Bottlenecks, Opening the Floodgates to Genomic Data

There is a major transformational step underway for managing the growing amount of human genomic data. To date, the focus has been on amassing databanks of genomes and then developing new tools to analyze this information. In essence, the emphasis has been on breaking bottlenecks for analyzing the data. Now, there is an opportunity to … Continue reading “Breaking Bottlenecks, Opening the Floodgates to Genomic Data”

New Research Could (Finally) Remove RNAi’s Commercial Limitations

[Corrected 11/17/14, 12:30pm. See below.] If nothing else, the acronym RNAi, which stands for ribonucleic acid interference, should be familiar to biotech observers as something that won two researchers the Nobel Prize in 2006, and that a few companies have tried to turn into drugs. Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]) is the most well-known. But in … Continue reading “New Research Could (Finally) Remove RNAi’s Commercial Limitations”

Ann Arbor SPARK Honors 15 Steadily Growing Michigan Companies

Ann Arbor SPARK, the nonprofit business development organization that offers incubation services to tech-based startups, has announced its FastTrack awards to recognize companies in the region that have demonstrated consistent growth. To be eligible for a FastTrack award, companies were required to have revenue of at least $100,000 in 2010, with an annual growth rate … Continue reading “Ann Arbor SPARK Honors 15 Steadily Growing Michigan Companies”

How Will the Auto Industry Capitalize on the Internet of Things?

The “Internet of Things” is a very broad term, but think of it this way: in the future, all of our devices could talk to one another, enabling new ways to interact with the world around us. According to ABI Research, there will be more than 30 billion devices connected to the Internet of Things … Continue reading “How Will the Auto Industry Capitalize on the Internet of Things?”

SBIR Award, $1M Investment Get ONL Therapeutics to Clinical Trials

ONL Therapeutics, a University of Michigan spin-out biopharmaceutical startup working on sight-preserving therapies for retinal diseases, announced today that it has won a $1.3 million Small Business Innovation Research (SBIR) Phase II award from the National Eye Institute. The SBIR funding will go toward the development of ONL101, a small-molecule peptide initially created for the … Continue reading “SBIR Award, $1M Investment Get ONL Therapeutics to Clinical Trials”

Next-Gen Network Monitoring: The Missing Piece of the Security Puzzle

If 2014 has taught us anything, it’s that IT security is falling behind the threats against which it is supposed to protect, and the gap is widening quickly. From data breaches at major retailers to serious zero-day vulnerabilities such as Heartbleed and Shellshock, the events of the last 12 months have caused everyone with an … Continue reading “Next-Gen Network Monitoring: The Missing Piece of the Security Puzzle”

Lowering the Cost of Failure in Biopharmaceuticals

In any business, projects fail, but in biopharmaceuticals, the consequences of failure are especially damaging. Projects in the industry tend to be long and expensive—from clinical trials to regulatory approvals to commercial application. At any point in the process, obstacles can derail a project. Failure is most certainly an option, and for companies with many … Continue reading “Lowering the Cost of Failure in Biopharmaceuticals”

StreetShares: Social Lending By and For Military Veterans

We hear a lot of platitudes this time of year about supporting our troops and being thankful for the sacrifices of U.S. veterans. It’s an easy thing to say. Less easy is actually putting your money where your mouth is, but now, thanks to the StreetShares social lending platform, you can—in the form of investing … Continue reading “StreetShares: Social Lending By and For Military Veterans”

Beg, Borrow, or Steal: Accessing Unaffordable Science Journals

If you work in academia or in Big Pharma, you likely have easy access to the world’s scientific literature. Outside of these places, however, obtaining affordable access to the latest scientific journals is much more problematic. This includes scientists at all but the largest biopharma companies, doctors and other health care professionals, and people wanting … Continue reading “Beg, Borrow, or Steal: Accessing Unaffordable Science Journals”

Accelerate Michigan Innovation Competition Announces Winners

Yesterday, the winners of the annual Accelerate Michigan Innovation Competition were announced after a two-day competition in downtown Detroit. At stake was more than $1 million in cash prizes, plus awards of services, staffing, and software. Accelerate Michigan winners are companies to keep an eye on, as they’re usually considered among Michigan’s most promising startups to … Continue reading “Accelerate Michigan Innovation Competition Announces Winners”

How a Big Company Can Run Fast, Like a Startup

What does the word “startup” mean to you? Many words can come to mind: new, exciting, experimental, small, lean, agile, fast. To me, “startup” mostly makes me think of “agile” and “fast.” In an early stage startup, everybody is focused on the same thing. People are passionate, enthusiastic, hungry for an opportunity to change the … Continue reading “How a Big Company Can Run Fast, Like a Startup”

Roundup: Hacker Fellows, Cleantech Open, Seelio, MLSIC, More

Here’s a look at news from around Michigan’s innovation community: —Invest Detroit and Grand Circus, part tech school and part community center, are seeking applicants for a new Hacker Fellows program, which places software developers in jobs at Michigan start-ups. Graduating seniors with computer-related degrees from accredited universities will be selected for a six-week session … Continue reading “Roundup: Hacker Fellows, Cleantech Open, Seelio, MLSIC, More”

RetroSense Closer to Clinical Trials After Orphan Drug Designation

Recent action by the FDA has Ann Arbor, MI-based RetroSense Therapeutics looking to possible clinical trials next year for a gene therapy that could help people see better. The key ruling came last week when regulators granted orphan drug status to RST-001, which RetroSense is developing to restore vision for people affected by retinitis pigmentosa. … Continue reading “RetroSense Closer to Clinical Trials After Orphan Drug Designation”

History, Yes, But Biologist’s Imagination Is No Flight Of Fancy

Any book about life science innovation that starts with quotes from Frank Zappa and Albert Einstein promises to be a good read. The Biologist’s Imagination holds to that promise, as authors William Hoffman and Leo Furcht, both of the University of Minnesota Medical School, take several forays back in history to explain the “crossroads”—perhaps an … Continue reading “History, Yes, But Biologist’s Imagination Is No Flight Of Fancy”

Avegant Garners $9,370,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6a992974-ddd1-4d82-a0f9-84e6c3d74ef1 Date 11/4/2014 Company Name Avegant Mailing Address 210 E. Huron Ann Arbor, MI 48104 USA Company Description Avegant is commercializing exciting next generation projection displays technologies. Founded in 2012 by Edward Tang and Allan Evans, its offices are currently located in Ann Arbor, Michigan. For more information regarding the company or … Continue reading “Avegant Garners $9,370,000 Series A Funding Round”

Quantum Medical Concepts Invests $100K in Advanced Amputee Solutions

Quantum Medical Concepts, a partnership between the Michigan State Medical Society and Commonwealth Enterprises to support early-stage healthcare startups, has made its first investment, worth $100,000, in Advanced Amputee Solutions. Advanced Amputee Solutions is developing a Cushioning Implantable End Pad (CIEP), a polymer-based cushioning device that is inserted during surgery to eliminate pain and discomfort … Continue reading “Quantum Medical Concepts Invests $100K in Advanced Amputee Solutions”

Tetra Discovery Lands Funding, Plans Alzheimer’s Drug Trial in 2015

Grand Rapids, MI-based biotech startup Tetra Discovery has been in the news a lot lately. This week, the Michigan Pre-Seed Fund 2.0 announced that Tetra Discovery was the recipient of a $100,000 investment. The company also recently scored additional financing from Grand Angels and Johnson & Johnson Development Corp., the venture capital subsidiary of healthcare … Continue reading “Tetra Discovery Lands Funding, Plans Alzheimer’s Drug Trial in 2015”

Innovation Hub: How Immigrants Fuel Innovation

Immigration policy reform is a hot-button issue right now, but it’s affecting the innovation economy in unexpected ways. U.S. companies are having a hard time recruiting enough skilled workers to fill all their high-level science, tech, and engineering positions. I discussed the issue with Stanford Law School professor Dan Siciliano and Silicon Valley Leadership Group … Continue reading “Innovation Hub: How Immigrants Fuel Innovation”

New to Data Analytics? Here’s 3 Simple Steps For Getting Started

Since I got involved in the big data and analytics world a few years ago, I’ve become the person that friends come to (and refer their friends to) for answers to questions about data. Recently I’ve been asked a few times by entrepreneurs how they can make sure their company is prepared to do analytics, … Continue reading “New to Data Analytics? Here’s 3 Simple Steps For Getting Started”

HauntPay Lands $1,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=dd12356f-1235-4c85-b4b0-a23c03c5a26b Date 10/31/2014 Company Name HauntPay Mailing Address 615 Griswold St. Detroit, MI 48226 USA Company Description Admit guests and sell tickets at the door from the HauntPay app, with complimentary credit card reader. Compatible with iOS (available) OR Android (August 2014) Devices. Superhero customer support. Website http://www.hauntpay.com Transaction Type Venture Equity … Continue reading “HauntPay Lands $1,000,000 New Financing Round”

Starter Talks: Kellee Khalil

This bi-monthly event showcases a successful entrepreneur candidly discussing the journey to success. This month’s guest is Kellee Khalil, founder of Loverly. For details and registration, click here.

Edmunds.com Acquires CarCode to Help Further its Mobile Strategy

Car-shopping website Edmunds.com announced this week that it has acquired CarCode, an app maker based in Seattle and Ann Arbor, MI. The terms of the deal were not disclosed. “It’s a great company to be joining,” says Nick Gorton, CarCode’s co-founder. Even though we’re living in an age of ubiquitous smartphones and Edmunds saw a … Continue reading “Edmunds.com Acquires CarCode to Help Further its Mobile Strategy”

I Believe in Angels

My colleague and friend Jeb Spencer recently wrote a piece for Xconomy about angel investors looking for “Unicorns,” those rare early stage companies with valuations—justified or not—of $1 billion or more. He wondered if angels are flying too close to the sun by misunderstanding their chances of success and failing to do their homework on … Continue reading “I Believe in Angels”

HauntPay Scares Up $1M in Online Event Ticket Sales, Plans Expansion

Michiganders love their haunted corn mazes. Southeast and mid-Michigan are home to a wide array of Halloween attractions, many of them old-fashioned mom-and-pop operations on family farms. Now, thanks to HauntPay, the owners of these attractions have a newfangled way to sell tickets online. HauntPay, founded by Core Detroit’s Alex Linebrink, allows users with an … Continue reading “HauntPay Scares Up $1M in Online Event Ticket Sales, Plans Expansion”

Innovation in Ireland: Overview to Xconomy’s Special Report

Until earlier this October, the only time I had visited Ireland was in April of 1989, on the World B. Tour. A group of American former collegiate basketball players came to the Emerald Isle on a hoops tour, taking part in an international tournament outside Dublin and playing exhibition games against Irish all-stars and holding … Continue reading “Innovation in Ireland: Overview to Xconomy’s Special Report”

A2B Bikeshare Obtains $25,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=65f67369-56ec-4ef9-a8ca-1a63fe33625f Date 10/29/2014 Company Name A2B Bikeshare Mailing Address 320 S Miller St. Ann Arbor, MI 48103 USA Company Description Our team strives to aid communities and institutions of all sizes to become better connected, healthier, and greener communities by providing accessible and affordable transportation solutions. Website http://www.a2bbikeshare.com Transaction Type Venture Equity … Continue reading “A2B Bikeshare Obtains $25,000 New Financing Round”

Invest Michigan Awards $275K to Four Early-Stage Tech Startups

Invest Michigan announced this week that it has invested $275,000 in four early-stage tech startups through the Michigan Pre-Seed Fund 2.0. The four startups also secured co-investments worth $3.4 million from private investors, far exceeding the minimum 1:1 matching funds required by Invest Michigan. “All of the startups we funded look like very promising companies … Continue reading “Invest Michigan Awards $275K to Four Early-Stage Tech Startups”

DeNovo Sciences Obtains $125,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e37bb14c-ee03-428e-a842-6283402f7359 Date 10/28/2014 Company Name DeNovo Sciences Mailing Address 46701 Commerce Center Drive Plymouth, MI 48170 USA Company Description We are a team of young, dynamic entrepreneurs and experienced industry veterans committed to bringing cutting-edge CTC detection technology to the cancer research and clinical markets. Our team has a unique balance of … Continue reading “DeNovo Sciences Obtains $125,000 New Funding Round”

AdAdapted Garners $725,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1fd45a53-ea53-4ef6-98e3-c6e5d0f3d77d Date 10/28/2014 Company Name AdAdapted Mailing Address 1327 Jones Dr. Ann Arbor, MI 40105 USA Company Description With AdAdapted, publishers define their own unique ad spots and advertisers can find the native opportunities that make sense for their brands. Like a banner ad, every ad is dynamic so publishers don’t have … Continue reading “AdAdapted Garners $725,000 New Financing Round”

$21M NIH Grant Will Help Detroit Colleges Improve STEM Diversity

True innovation doesn’t exist without diversity, experts say, so the National Institutes of Health (NIH) has awarded a consortium of Detroit colleges $21.2 million over five years to encourage more underrepresented students to pursue careers in biomedical research. With the backing of the NIH funding, Wayne State University (WSU), University of Detroit Mercy (UDM), Marygrove … Continue reading “$21M NIH Grant Will Help Detroit Colleges Improve STEM Diversity”

On a Wing and a Prayer: 300,000 Angels in Search of a Unicorn

As co-founder and managing partner of San Diego’s TVC Capital, I awake every morning to a certain routine that includes scanning my Term Sheet e-mail to see what investments and acquisitions got done in the tech space. I have noticed in recent years that the space Dan Primack has devoted to investments is long, while … Continue reading “On a Wing and a Prayer: 300,000 Angels in Search of a Unicorn”

Ornicept Takes Flight with New Office, More Funding, Explosive Growth

Ornicept, the Ann Arbor-based startup focused on remote data management, has experienced significant growth since we first profiled the company in June 2013. Last month, the team of 12 moved out of the Ann Arbor SPARK incubator and into its own 2,500-square-foot office off North Main Street, and CEO Russell Conard already has his eye … Continue reading “Ornicept Takes Flight with New Office, More Funding, Explosive Growth”

MVCA: 2014 is Shaping Up to Be A Banner Year for Michigan Startups

According to data released last week by the National Venture Capital Association (NVCA), the third quarter of 2014 was a busy one in the state of Michigan. The NVCA’s report, based on information collected by Pricewaterhouse Coopers and Thomson Reuters, says that Michigan-based startups raised a total of $2.2 million in four venture deals during … Continue reading “MVCA: 2014 is Shaping Up to Be A Banner Year for Michigan Startups”

Accelerate Michigan Innovation Competition

This international business competition is designed to connect entrepreneurs and later-stage startups with  investors. This year, the competition will be held at multiple locations throughout Detroit. For details and registration, click here.

BioArbor: Maximizing Opportunities with Patient Advocacy Foundations

Bill Cadwallder, senior commercialization officer with PATH, and Bruce Markham, president and CEO at Diapin Therapeutics, will be the featured speakers at this networking event. They’ll talk about how patient advocacy groups can potentially serve as a source of seed or clinical trial funding, especially for companies whose technology targets a specific disease. For details … Continue reading “BioArbor: Maximizing Opportunities with Patient Advocacy Foundations”

Duo Security Rides Growing Interest in Two-Factor Authentication

Hardly a day goes by without a big headline announcing yet another consumer security breach; today’s version trumpets the possible theft of Staples customers’ credit card information. Keeping payment information safe from criminals is a priority for both businesses and consumers, and since Ann Arbor, MI-based Duo Security is at the forefront of a promising … Continue reading “Duo Security Rides Growing Interest in Two-Factor Authentication”

Ann Arbor SPARK Boot Camp Celebration

Ann Arbor SPARK hosts this event celebrating the end of its fall boot camp session for entrepreneurs. Network with mentors and boot camp participants, and find out which startup won best of boot camp. For more information and registration, click here.

As Atlas Splits, Is There A Case To Make In Venture For Specialists?

Readers of this column who are of a certain age might remember Chrissie Hynde of the Pretenders in black eyeliner, dressed as a diner waitress singing, “I’m special, so special, and I gotta have some of your attention.” Swap “money” for “attention,” and it could be a refrain that venture capitalists are singing these days … Continue reading “As Atlas Splits, Is There A Case To Make In Venture For Specialists?”

Ablative Solutions Obtains $4,724,923 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cb254e23-785a-4eda-a2ab-22a081193749 Date 10/22/2014 Company Name Ablative Solutions Mailing Address 350 East Michigan Avenue Kalamazoo, MI 49007 USA Company Description Ablative Solutions’ technology involves endovascular catheters to provide an efficacious, durable, cost-effective and safe alternative to surgical renal denervation for the treatment of hypertension and other diseases caused by an overactive sympathetic nervous … Continue reading “Ablative Solutions Obtains $4,724,923 New Funding Round”

DeNovo Sciences Receives $2,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ab3efac2-c72f-4e67-b0d0-991a39449a55 Date 10/22/2014 Company Name DeNovo Sciences Mailing Address 46701 Commerce Center Drive Plymouth, MI 48170 USA Company Description We are a team of young, dynamic entrepreneurs and experienced industry veterans committed to bringing cutting-edge CTC detection technology to the cancer research and clinical markets. Our team has a unique balance of … Continue reading “DeNovo Sciences Receives $2,000,000 New Funding”

$25M Gift from Urban Science Founder to Spur Entrepreneurship at WSU

Earlier this month, Wayne State University’s College of Engineering announced a $25 million gift to boost the entrepreneurial efforts of faculty and students in order to help drive Detroit’s revitalization. The gift to the university was made by alum Jim Anderson, founder of Urban Science, and his wife, Patricia. The investment will create the James … Continue reading “$25M Gift from Urban Science Founder to Spur Entrepreneurship at WSU”

Shanghai Report: Big Questions About China’s Growth Plans

It only took a few days after I returned from China for my eyes to stop burning, and maybe the slight cough was really due to the changing seasons in Boston and not the air pollution in Shanghai (now I better understand the amenity in my hotel room—see below). A small price to pay to … Continue reading “Shanghai Report: Big Questions About China’s Growth Plans”

SkySpecs Obtains $120,000 Seed Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e28197bc-265c-4a6f-857f-b3e547e9d59b Date 10/20/2014 Company Name SkySpecs Mailing Address 3744 Plaza Dr. Ann Arbor, MI 48108 USA Company Description The SkySpecs WingMan technologies provide tools to simplify the experience of piloting a drone. By automating the complexities of flight, WingMan allows pilots to focus on the mission objectives instead of flight safety. These … Continue reading “SkySpecs Obtains $120,000 Seed Financing Round”

Pinoccio Receives $120,000 Seed Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9594bd5e-af13-4fb9-844d-d413be27e80f Date 10/20/2014 Company Name Pinoccio Mailing Address 1917 Washtenaw Ave. Ann Arbor, MI 48104 USA Company Description Pinoccio is built on open source hardware and software. We give you all the files and data sheets you need to build your own Pinoccio, or integrate it into your own project. Website http://www.pinocc.io … Continue reading “Pinoccio Receives $120,000 Seed Financing”

Innovation Hub: Introverts as Innovators

Entrepreneurs, bosses, and leaders are often highly social and extroverted—take Steve Jobs or Richard Branson. They can work a room. They derive energy from being around others. But what if being outgoing and extroverted isn’t actually the key to success in the workplace? Susan Cain, author of Quiet: The Power of Introverts in a World … Continue reading “Innovation Hub: Introverts as Innovators”

VC Funding Still Robust as Year-to-Date Total Exceeds 2013

Venture capital activity is down from a 13-year high during the second quarter, but a new MoneyTree Report released today shows that venture funding was still going strong in the three months that ended Sept. 30, with $9.9 billion invested in 1,023 deals. That was almost a 27 percent drop from the $13.5 billion that … Continue reading “VC Funding Still Robust as Year-to-Date Total Exceeds 2013”