Category: Detroit

Non-Compete Agreements: The Good, the Bad, and the Ugly

Twenty years ago, renowned researcher AnnaLee Saxenian wrote a book called Regional Advantage, which compared the development of two high-tech regions, Silicon Valley and Route 128. Everyone in the tech world knows how this story played out: In the face of global competition and technological trends, Silicon Valley reinvented itself and roared ahead, while Route … Continue reading “Non-Compete Agreements: The Good, the Bad, and the Ugly”

LevelEleven Obtains $2,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bdddf88d-0bcf-41b6-b3eb-bfc00a32d970 Date 8/14/2014 Company Name LevelEleven Mailing Address 1555 Broadway St 3rd Floor Detroit, MI 48226 USA Company Description LevelEleven develops easy-to-use software tools that help sales and other managers keep their teams focused on the right things. Our flagship product, Contest Builder, is a salesforce.com app that gives companies new ways … Continue reading “LevelEleven Obtains $2,000,000 New Funding”

Startups Warm to Urban Agriculture; Can They Reward Investors?

Using a smartphone, Jon Friedman can run a whole network of high-tech, urban farms. His company, Freight Farms, developed an app that allows farmers to control the growing conditions of truck-sized shipping containers filled with racks of hydroponically grown veggies. Before starting Freight Farms, Friedman and co-founder Brad McNamara had no background in food. But once … Continue reading “Startups Warm to Urban Agriculture; Can They Reward Investors?”

Cool Summer: Founder of Harbor Springs Incubator on Lessons Learned

Coolhouse Labs, the startup incubator operating out of a renovated boat house in Harbor Springs, MI, is in the middle of mentoring its second crop of startups, and founder Jordan Breighner says he incorporated what he learned during Coolhouse’s inaugural session last summer to improve what he currently offers to the startups in residence. “We … Continue reading “Cool Summer: Founder of Harbor Springs Incubator on Lessons Learned”

The Perfect Hacker Storm: CyberVor Was Lightning; Here Comes Thunder

A Russian “hacker gang” they’ve dubbed CyberVor accumulated more than 1.2 unique user credentials from more than 420,000 Web services, ranging from smaller sites to major household names. For scale – if the CyberVor hack were a box office return, it would be the total global gross of the final Harry Potter as compared to … Continue reading “The Perfect Hacker Storm: CyberVor Was Lightning; Here Comes Thunder”

While Protesters Rage Against Tech Giants, Biotech Drives Quietly By

Not long ago, biotech made a lot of people angry. Up until 2005 or so, the annual Biotechnology Industry Organization conference attracted large street protests, which in turn attracted cops in riot gear in some cases (see San Francisco, 2004) as well as the attention of the industry’s top brass. Here’s then-BIO president Carl Feldbaum … Continue reading “While Protesters Rage Against Tech Giants, Biotech Drives Quietly By”

Assemble Aims to Create Disruptive, Online Chamber of Commerce

When Kate Catlin, a Venture for America fellow based in Detroit, biked across the country the summer before her freshman year of college, she was struck by how many mom and pop businesses had been closed and boarded up in the towns she passed through. “We’d ask people where the businesses went, and they would … Continue reading “Assemble Aims to Create Disruptive, Online Chamber of Commerce”

Moneyball Meets Sales and Marketing: Tips from Two Masters

Moneyball has come to sales and marketing. I’m trusting you know about the revolution that hit baseball due to the arrival of sophisticated data and analytics—and if you don’t, well, read Moneyball by Michael Lewis. It shouldn’t be a surprise, in any case, to hear that the same type of data-mining and number-crunching that turned … Continue reading “Moneyball Meets Sales and Marketing: Tips from Two Masters”

Innovation Hub: Forget Big Bets—Success Means Thinking Small

If you want to reap big rewards, you’ve got to take big risks. Right? Not according to Peter Sims, author of Little Bets: How Breakthrough Ideas Emerge from Small Discoveries, who argues that companies from Google to Hewlett-Packard have cashed in by thinking small, floating trial balloons, and understanding that micro failures are inevitable. I … Continue reading “Innovation Hub: Forget Big Bets—Success Means Thinking Small”

Good News for Detroit: American Axle Plans New $20M Tech Center

More good news for Michigan’s auto industry came this week when, at the annual Center for Automotive Research conference, auto supplier American Axle announced it would spend approximately $20 million to open a new technology development center in Detroit. “We’re pleased to be growing here in Detroit again,” says Chris Son, American Axle’s director of … Continue reading “Good News for Detroit: American Axle Plans New $20M Tech Center”

Linda Stone’s Antidote to Quantified Self: The Essential Self

The Quantified Self movement emerged in the late 2000s in response to an absence: the lack of useful data about our bodies as we move through the day. Before the QS era, an EKG could show you your heart rhythms; a lab analysis could show you your cholesterol levels; a treadmill stress test could measure … Continue reading “Linda Stone’s Antidote to Quantified Self: The Essential Self”

CrowdRise is On a Mission to Make Crowdfunding Fun and Easy

In 2009, the actor Ed Norton, Moosejaw founder Robert Wolfe, and a small team of their friends launched a fundraising campaign to raise money for the Maasai Wilderness Conservation Trust during the New York City Marathon. In less than eight weeks, the group raised $1.2 million, much of it from small donors who gave more … Continue reading “CrowdRise is On a Mission to Make Crowdfunding Fun and Easy”

Funding Options Shrink for Early-Stage Cleantech Ventures

The term “cleantech” has gone through a rebranding. However it’s defined, though, investment in energy and natural resource-related startups continues. Just don’t expect venture capitalists to be writing all the checks. As a reporter, I chronicled the rush of venture capital in cleantech in the mid-to-late 2000s and the subsequent financial bust and politicization of … Continue reading “Funding Options Shrink for Early-Stage Cleantech Ventures”

Roundup: JEMS, MSU Bootcamp, FordDirect, Start Garden, U-M Solar Car

Here’s a look at news from around Michigan’s innovation hubs: —War Memorial Hospital in Sault Ste. Marie, MI, is now using technology from Orion, MI-based healthtech startup JEMS to connect patients to specialist health care providers remotely. JEMS’ telehealth platform allows War Memorial staff to send live, streaming videos through iPhones, iPads, or Android devices … Continue reading “Roundup: JEMS, MSU Bootcamp, FordDirect, Start Garden, U-M Solar Car”

As Book Prices Drop, Big Publishers Push Into Software and Edtech

Don’t look now, but textbook publishers are trying to become software companies. And tech startups are trying to outmaneuver these giants to win the future of educational content and tools. It’s one of the big trends in edtech and digital media. Indeed, digital publishing has “fundamentally changed every aspect of what we are doing with … Continue reading “As Book Prices Drop, Big Publishers Push Into Software and Edtech”

Military Strategies Being Used in the War on Cancer

Nearly everyone has heard of the War on Cancer, which was launched during the Nixon administration with the passage of the National Cancer Act of 1971. The goal of this legislation was to eradicate (or at least significantly decrease) the number of U.S. cancer deaths. Progress in meeting this goal has been slow over the … Continue reading “Military Strategies Being Used in the War on Cancer”

How Cotton Bureau Became the Internet’s Coolest T-Shirt Store

You may not have realized that it was possible to become addicted to buying T-shirts. But that probably means you just haven’t stumbled upon Cotton Bureau, a year-old website that has quickly become the world’s coolest T-shirt shop. The four-person crew behind Cotton Bureau has managed to pull this off by stitching together an impressive number … Continue reading “How Cotton Bureau Became the Internet’s Coolest T-Shirt Store”

Innovation Hub: Legendary Investor Roger McNamee on “Day of Reckoning”

There’s always plenty of coverage of the newest phones—are they a millimeter thinner? Is the camera slightly better? But when you back up and look at the broad sweep of how technology has changed our lives over the last generation, it’s profound. Celebrated Silicon Valley investor Roger McNamee has been part of this transformation—having spent … Continue reading “Innovation Hub: Legendary Investor Roger McNamee on “Day of Reckoning””

Global Warming and the Power of Fear to Drive Innovation

[Corrected, see below] As graduation approached at my rural Michigan high school in 1985, our principal had a problem. The commencement ceremony usually featured two speeches: one from the valedictorian and one from the salutatorian. But in my graduating class eight people, including me, had a 4.0 grade point average. Who would give the valedictorian … Continue reading “Global Warming and the Power of Fear to Drive Innovation”

MHA Partners with ArborMetrix to Analyze Readmissions, Improve Care

The Michigan Health & Hospital Association (MHA), which lobbies the state and federal government on behalf of healthcare providers, said this month that its nonprofit Keystone Center will form a partnership with ArborMetrix to analyze state hospital data in order to find where providers can improve care and cut costs. ArborMetrix is an Ann Arbor, … Continue reading “MHA Partners with ArborMetrix to Analyze Readmissions, Improve Care”

Is Radio Silence Endangering Your Business?

Let’s see if this scenario sounds all-too-familiar. A divisional company director is facing a distressed situation. Her CEO suggests bringing in an outside consultant to help. They meet, and the director decides to hire the consultant and immediately confirms a follow-up meeting on both of their calendars. Except that this second meeting never takes place. … Continue reading “Is Radio Silence Endangering Your Business?”

Java @ The Junction

Tifani Sadek of Sadek Legal Services will discuss the five huge legal mistakes entrepreneurs make and how to avoid them. For details, click here.

MichBio Expo

The largest gathering of bioscience professionals in Michigan is in its 10th year and includes keynote speeches, exhibits, plenary sessions, manufacturer and supplier forum, networking, and more. To learn more, click here.

Driving Corporate Innovation: Design Thinking vs. Customer Development

Startups are not smaller versions of large companies, but interestingly we also see that companies are not larger versions of startups. I’ve been spending some time with large companies that are interested in using “Lean Startup” methods. One of the conundrums is why does innovation take so long to happen in corporations? Previously Hank Chesbrough … Continue reading “Driving Corporate Innovation: Design Thinking vs. Customer Development”

Venture for America Fellows Fall in Love with Detroit, Start TernPro

After Brian Bosche graduated from Dartmouth in 2012, he headed for Detroit, sight unseen, as part of the Venture for America program. “I had heard not-great things in the media, but seeing all the development and the startup scene really impressed me,” he says. “I realized it was a community I wanted to be a … Continue reading “Venture for America Fellows Fall in Love with Detroit, Start TernPro”

To Solve Alzheimer’s Mystery, Better Biological Clues Sorely Needed

The other day, I found a video on the website of the Alzheimer’s Association, a nonprofit foundation. It was part of an HBO documentary series produced a few years ago by Maria Shriver to educate the public about Alzheimer’s disease. The first couple minutes showed people going into scanners, doctors gently examining patients, color-contrasted brain … Continue reading “To Solve Alzheimer’s Mystery, Better Biological Clues Sorely Needed”

Investors Talk Venture Capital and the Midwestern Talent Gap

Earlier this month, MoneyTree released its quarterly venture capital report, and the news was overwhelmingly positive. VCs invested almost $13 billion in 1,114 U.S. startups during the second quarter, which is the highest level of VC funding in 13 years. That included a strong showing by the Midwest, which isn’t known for its VC investing. … Continue reading “Investors Talk Venture Capital and the Midwestern Talent Gap”

Innovation Hub: How Lego Built a Blockbuster Global Brand

What products count as innovative? Often, the things we take most for granted. Like Legos. A toy that was started by a failing carpenter in the 1940s, suffered a near-death experience several years ago, and is now experiencing blockbuster growth. So, how did the company manage to stay afloat through a half-century of changing tastes … Continue reading “Innovation Hub: How Lego Built a Blockbuster Global Brand”

Detroit Chosen as Location for $148M Manufacturing Innovation Center

In February, President Barack Obama announced that Michigan had won a competitive national bidding process to host the new, $148 million American Lightweight Manufacturing Innovation Institute (ALMII) created as part of the National Network of Manufacturing Innovation (NNMI) initiative. This week, officials revealed that ALMII will be headquartered on Rosa Parks Boulevard in Detroit’s Corktown … Continue reading “Detroit Chosen as Location for $148M Manufacturing Innovation Center”

Dave Eggers’s “The Circle” Fails as Satire, Succeeds as Prophecy

When the anti-utopian book The Circle, the latest novel from McSweeney’s founder Dave Eggers, came out last October, reviewers hailed it as a “provocative” and “foreboding” warning about the spiritual costs of excessive sharing and transparency on the Internet. The Guardian even called it “a deft modern synthesis of Swiftian wit with Orwellian prognostication.” But … Continue reading “Dave Eggers’s “The Circle” Fails as Satire, Succeeds as Prophecy”

Xconomy Launches in Raleigh-Durham—10th Cluster in Our Network

Innovation, North Carolina style—at last. Ever since writing the original Xconomy business plan, I’ve been looking forward to the day when we began covering innovation in the Tar Heel state. Now, I am extremely happy to announce, that day has come. Xconomy Raleigh-Durham is officially off the ground, and with its launch we have grown … Continue reading “Xconomy Launches in Raleigh-Durham—10th Cluster in Our Network”

Venture Capital Had a Great 2013—But Public Markets Were Still Better

In an industry obsessed with creating the next big thing, it can be easy to forget that a lot of big ideas simply crash and burn. So here’s a little reminder: Last year, American venture capitalists put together their best annual performance since 1999. But it still wasn’t good enough to beat the public stock … Continue reading “Venture Capital Had a Great 2013—But Public Markets Were Still Better”

MI Roundup: Plymouth Ventures, DTE app, MTRAC awards, Beringea, more

Here’s a look at news from around Michigan’s innovation hubs: —Ann Arbor-based Plymouth Ventures has announced the final close for its $60 million Plymouth Venture Partners III (PVPIII) fund. The fund will invest in growth-stage startups headquartered in the Great Lakes region. Managing partner Mark Horne says the fund-raising process for PVPIII took eight months. … Continue reading “MI Roundup: Plymouth Ventures, DTE app, MTRAC awards, Beringea, more”

Key Risk Conversations to Have With Your Board and Investors

Building a startup is a risky business. The only way to stay ahead of the risks is to be aware and informed about them. The board of directors, in particular, needs to know enough about the risks in the business to make well-rounded strategic decisions. As for investors, most of them do their own risk … Continue reading “Key Risk Conversations to Have With Your Board and Investors”

Alphabet Energy Wants to Be the “Intel of Waste Heat Recovery”

Alphabet Energy wants to make electricity from hot air. The Hayward, CA-based company later this year will release what it says will be the first large-scale thermoelectric generator to convert heat from industrial activities into usable power. Earlier this month, Alphabet Energy licensed a material developed at Michigan State University that will go into the … Continue reading “Alphabet Energy Wants to Be the “Intel of Waste Heat Recovery””

MoneyTree Reports $121M in MI Venture Deals Last Quarter

Venture Capital investors had a very active second quarter of 2014, according to the latest MoneyTree report. VCs invested almost $13 billion in 1,114 U.S. startups during the second quarter, which is the highest level of VC funding in 13 years. Michigan also had a banner quarter for VC activity, with $121 million invested in … Continue reading “MoneyTree Reports $121M in MI Venture Deals Last Quarter”

Sexism and Misogyny in Tech: How Investors Can Help Drive Change

The image of some technology startups has been tarnished of late by bad behavior. It might be up to investors who are board members to ensure changes get made. Accusations of sexism and misogyny have circled Tinder, the dating-app startup owned by IAC. If the charges prove to be true, it is just one recent … Continue reading “Sexism and Misogyny in Tech: How Investors Can Help Drive Change”

Automation Alley’s #hackDPL Event Yields New Library App

When the tech and business association Automation Alley opened an office in Detroit last fall, it wanted to find a way to give back to the community. Officials with the Detroit Public Library (DPL) had said to Automation Alley’s director of member relations, Cynthia Hutchison, that they were concerned that the library was behind other … Continue reading “Automation Alley’s #hackDPL Event Yields New Library App”

There Was Life Before Smartphones, But Who Can Remember It?

I’m lakeside this week in northern Michigan, hanging out with my extended family. It’s been interesting to observe my six-year-old nephew, who won’t go anywhere without a Power Rangers Megaforce robot in one hand and a Ty Monstaz plush toy in the other. They’re right beside him at the breakfast table, on the dock, at … Continue reading “There Was Life Before Smartphones, But Who Can Remember It?”

Mega Deals (Like Uber) Boost Venture Funding to $13B

Venture capital investors pumped almost $13 billion into 1,114 U.S. startups in the second quarter—marking the highest level of VC funding in 13 years, according to the MoneyTree Report being released today. While the number of deals is comparable with recent quarters, the $12.97 billion VCs deployed this spring was a third more than the … Continue reading “Mega Deals (Like Uber) Boost Venture Funding to $13B”

Midwest VCs Hope For Replenished State Capital Funds, Despite Tight Budgets

When the Michigan Venture Capital Association (MVCA) released its annual report about the state of venture capital earlier this summer, there was plenty to be optimistic about. In 2013, Michigan bucked national trends by increasing the number of VC professionals statewide by 84 percent, compared with a 13 percent decline nationally. VC-backed companies in Michigan … Continue reading “Midwest VCs Hope For Replenished State Capital Funds, Despite Tight Budgets”

Expansion of Microsoft Research—Analysis and Download of 1997 Plan

“We are about to embark on a nearly unprecedented adventure—expanding Microsoft’s investment in research by at least a factor of three.“ So begins the May 1997 memo written by Nathan Myhrvold, architect of Microsoft Research (MSR), a little over five and a half years after the renowned research organization was created. The memo, labeled Microsoft … Continue reading “Expansion of Microsoft Research—Analysis and Download of 1997 Plan”

The Generation Gap in the Tablet Creation/Consumption Debate

The iPad launched in March of 2010 starting the modern tablet era and the debate about what tablets are best for: creation or consumption. While the iPad dominated tablet sales through 2012, in the last couple of years Android- and Windows-based tablets have eaten away at Apple’s dominance. As the tablet market grows, the creation … Continue reading “The Generation Gap in the Tablet Creation/Consumption Debate”

How Dan Gilbert Helped Tame the Incorrigible Rap Genius

You may have missed the story Business Insider published Friday detailing Rap Genius’s turmoil on the way to raising $40 million. Rap Genius is a New York City startup that started as a website where people on the Internet could analyze the lyrics of rap songs. Now, rebranded as Genius, the company wants to annotate … Continue reading “How Dan Gilbert Helped Tame the Incorrigible Rap Genius”

ENT Biotech Solutions Secures $100,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3fdd2041-2a22-42f4-9936-2f9d739c7805 Date 7/16/2014 Company Name ENT Biotech Solutions Mailing Address 440 Burroughs St. Detroit, MI 48202 USA Company Description ENT Biotech Solutions, Inc is a Detroit, Michigan venture developing a novel medical device created by a practicing Otolaryngologist to remove tonsils/adenoids and soft tissue. Website http://www.entbiotechsolutions.com Transaction Type Venture Equity Transaction Amount … Continue reading “ENT Biotech Solutions Secures $100,000 New Funding Round”

The Mid-Stage VC Funding Gap, By the Numbers

In recent years, we’ve heard a lot about the “Series A crunch” for tech startups—lots of companies get seed funding but can’t raise a first venture round. Now we’re hearing more about a mid-stage funding bottleneck, typically at the Series B and C venture stages. A recent tech funding deal in Boston highlighted the issue … Continue reading “The Mid-Stage VC Funding Gap, By the Numbers”

Who Needs Biotech VCs, Anyway?

Welcome to In Translation, and thanks for reading. As a companion to Xconomy’s regular life sciences coverage, this new column provides me with a chance to dive a little more deeply into strategic, cultural, and scientific topics around the biotech world, and bring more of my own point of view to bear. I welcome and … Continue reading “Who Needs Biotech VCs, Anyway?”