Category: Detroit

Minerva’s Plan to Disrupt Universities: A Talk with CEO Ben Nelson

[Updated, see below] Traditional four-year universities have always had to compete for students. They’re vying not only against each other, but against community colleges, the military, online institutions like University of Phoenix, and, in an age of increasing economic pressure on the middle class, the work world. (Some 34 percent of U.S. high school graduates … Continue reading “Minerva’s Plan to Disrupt Universities: A Talk with CEO Ben Nelson”

MoneyTree Reports $35.6M in MI Venture Deals Last Quarter

Venture capital funding surged nationwide during the first quarter of 2014, driven mainly by substantial investments in expansion-stage IT and software companies, according to the MoneyTree Report being released today. That trend extended to Michigan, where MoneyTree reported that 14 companies snagged $35.6 million in venture capital investment during the first quarter of 2014. Though … Continue reading “MoneyTree Reports $35.6M in MI Venture Deals Last Quarter”

First-Quarter Venture Funding at $9.6B in U.S., Highest Since 2001

Right out of the gate, venture capital funding surged nationwide during the first three months of 2014—driven largely by substantial investments in expansion-stage IT and software companies, according to the MoneyTree Report being released today. Eight of the ten biggest deals involved IT, software, or Web companies based in Northern California. (The top 10 deal … Continue reading “First-Quarter Venture Funding at $9.6B in U.S., Highest Since 2001”

U-M Spinout H3D Unveils “Game-Changing” Nuclear Detection Tech

Detecting nuclear radiation is easy. All you need is a simple, inexpensive Geiger counter. But to be able to precisely identify both the type of radiation and where it is coming from is much more challenging. That’s crucial for everything from searching for possible nuclear weapons in shipping containers to performing routine maintenance or emergency … Continue reading “U-M Spinout H3D Unveils “Game-Changing” Nuclear Detection Tech”

How I Raised Seed Capital from a Sand Hill Road VC in 24 Hours

Much to many entrepreneurs’ chagrin, having an idea is not enough to start a company. Being able to fundraise is just as important as the big idea. I’ve been very frank in sharing how one of my startup companies failed because I did not have sufficient funding to compete, so I know how long and … Continue reading “How I Raised Seed Capital from a Sand Hill Road VC in 24 Hours”

Office on iPad: Reports of its Demise Have Been Greatly Exaggerated

The day that iPad users and Microsoft Office suite lovers have been waiting for has finally arrived. Now the fate of dozens of third-party applications like Prezi and SlideShark hang in the balance. In a break with tradition, Microsoft CEO Satya Nadella announced the release of Office iPad on March 27. Under former CEO Steve … Continue reading “Office on iPad: Reports of its Demise Have Been Greatly Exaggerated”

Drones, Oculus, WhatsApp & the Future of Communication

[Corrected 4/14/14, 6:13 pm. See below.] Facebook is aiming to become a telco. Drones are the towers. Oculus are the phones. WhatsApp is the service. Twenty-one billion dollars is cheap for a next-generation telco. There is more behind the WhatsApp and Oculus deals than the apparent need to bring teens and gamers under Facebook’s fold. Facebook and … Continue reading “Drones, Oculus, WhatsApp & the Future of Communication”

Roundup: Aastrom, Gale, STEM summer camps, Beringea, HelloWorld

Here’s a look at news you may have missed from around Southeast Michigan’s innovation community: —Aastrom Biosciences (NASDAQ:[[ticker:ASTM]]) has appointed Ross Tubo as chief scientific officer and David Recker as chief medical officer. Tubo was formerly vice president of stem cell research and chemokine biology at Genzyme, where he oversaw R&D for two of the first … Continue reading “Roundup: Aastrom, Gale, STEM summer camps, Beringea, HelloWorld”

They Still Call it Telemedicine? Tracking the Evolution of HealthIT.

Recently, the Houston Technology Center asked me to join a panel discussion on “The Future of Telemedicine” at NASA’s Johnson Space Center. I was a bit surprised as I’ve never thought of myself as being part of the telemedicine industry. My business partner, Bryan Haardt, and I last year co-founded Decisio Health to sell software … Continue reading “They Still Call it Telemedicine? Tracking the Evolution of HealthIT.”

State Allots $6.8M to Invest Michigan Fund for Seeding Tech Startups

The Michigan Strategic Fund board announced today that is has designated $6.8 million in new state money for the Michigan Pre-Seed Fund 2.0, an investment fund targeting early-stage tech startups statewide. It will be managed by Invest Michigan, a new Detroit-based nonprofit led by Charlie Moret, a Connecticut transplant who most recently served as TechTown’s … Continue reading “State Allots $6.8M to Invest Michigan Fund for Seeding Tech Startups”

Techweek Detroit

This conference for showcasing local startup ecosystems—Chicago, Miami, Los Angeles, and New York are Techweek’s other locations in 2014—comes to Detroit May 19-25. It includes a two-day conference with presentations from top tech CEOs, as well as various events including a technology expo, startup LAUNCH competition, Food Truck Face Off, FashionTECH Runway Show, and nightly … Continue reading “Techweek Detroit”

Venture-Backed IPOs & Late-Stage Investments Surged in Q1

Venture capitalists saw the public markets awaken in the first quarter, and they’re betting the trend will continue. A new report from New York-based venture capital research firm CB Insights counts 35 venture-backed IPOs through the end of March, more than any single quarter since the fall of 2000. Mergers and acquisitions were also strong, … Continue reading “Venture-Backed IPOs & Late-Stage Investments Surged in Q1”

State-Level Equity Crowdfunding: The Next Big Thing

Just a few weeks ago, Facebook’s surprise $2 billion purchase of virtual reality headset developer Oculus riled up some of the startup’s earliest financial backers, who said they got a raw deal while the founders got rich.  We’re talking about pre-order backers on Kickstarter here, not investors. But if new equity crowdfunding rules had been … Continue reading “State-Level Equity Crowdfunding: The Next Big Thing”

The Rise of the “People’s Web”

Silicon Valley is one of the most dynamic engines of capitalism the world has ever seen. For decades, technology providers focused on creating cutting-edge hardware and software designed to optimize efficiency, productivity, and data-based knowledge for large corporations. But today, many technology innovators are also working hard to level the playing field by providing individual … Continue reading “The Rise of the “People’s Web””

Kauffman Study: Weaker Entrepreneurship Spells Stronger Job Market

The U.S. saw slightly fewer businesses created last year, but there’s a silver lining: the poorer numbers nationwide likely indicate that a stronger job market relieved some of the pressure on people to start companies out of necessity. That’s among the takeaways from the latest Kauffman Index of Entrepreneurial Activity, an annual study from the … Continue reading “Kauffman Study: Weaker Entrepreneurship Spells Stronger Job Market”

Plymouth Ventures Invests in Certified Security Solutions

Plymouth Ventures, a venture capital firm in Ann Arbor, MI, has made the first investment from its third fund in Certified Security Solutions (CSS), a company based in Cleveland, OH. The terms of the deal were not disclosed. CSS is an information security company—it’s been in business more than a decade—that focuses on identification and … Continue reading “Plymouth Ventures Invests in Certified Security Solutions”

Announcing Napa Summit 2014: Get An Invite to Xconomy’s Elite Confab

For the past two years, Xconomy has held an invitation-only event in the heart of California wine country with a general focus on the economy, emerging technology, competitiveness, and jobs—and spanning the range of topics we cover, from information technology to life sciences, healthcare, energy, cybersecurity, food, and much more (read on). We convene some … Continue reading “Announcing Napa Summit 2014: Get An Invite to Xconomy’s Elite Confab”

Is Sentinl’s Biometric Trigger Lock the Future of Gun Safety?

When Detroit-based engineer Omer Kiyani was 16, he was shot in the mouth. He was in the wrong place at the wrong time—the crime happened in what he describes as “no different than an average American neighborhood.” Kiyani didn’t know the perpetrator, who has never been caught, but one of the few facts to emerge … Continue reading “Is Sentinl’s Biometric Trigger Lock the Future of Gun Safety?”

MIT Enterprise Forum: Weather Forecasting

The MIT Enterprise Forum hosts this discussion of how the technology behind weather forecasting works. Some of Michigan’s top meteorologists will be on hand to show attendees their tools and tricks of the trade. Click here to register.

Crowdfunding Startups: Opportunities and Bottlenecks

There has been a bit of action for a while now in the crowdfunding world, and certain startups have been able to get themselves off the ground using Kickstarter, Indiegogo, and similar sites. By and large, these types of financings have gone to companies that are building physical products, digital games, and the like. Fundings … Continue reading “Crowdfunding Startups: Opportunities and Bottlenecks”

Lycera Secures $4,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=aff47ee7-21cb-4375-908e-0b81bc4160af Date 4/7/2014 Company Name Lycera Mailing Address 2800 Plymouth Rd. Ann Arbor, MI 48109 USA Company Description Lycera is an early-stage pharmaceutical company developing first-in-class drugs to treat immune disorders. Lycera’s technology platforms include proprietary small molecules that modulate a target, which is central to cellular bioenergetics along with molecules that … Continue reading “Lycera Secures $4,000,000 New Financing Round”

A Letter to the Year 2061 (If We Make It That Far)

Dear Citizens of 2061, If you’re reading this, congratulations. You’ve survived the first half of the 21st century, and you’ve evidently still got computers, libraries, virtual-reality visors, or some kind of communications system that enabled you to dig up these old scribbles. I have some questions for you. I know you can’t really write back, … Continue reading “A Letter to the Year 2061 (If We Make It That Far)”

Michigan Startups Working to Bridge IT Talent Gap

[Corrected 4/4/14, 6:01 p.m. See below.] Detroit’s shortage of information technology talent is not a new problem, but it does seem to be getting more pronounced as the number of tech startups taking root in Michigan grows. In 2012, Dice.com designated Detroit as the fifth-fastest growing tech city in the nation. And in 2013, Michigan’s … Continue reading “Michigan Startups Working to Bridge IT Talent Gap”

Patients Are Customers. Who Knew?

I was finally getting to my giant pile of reading this week when I saw an article in Health Care Information Week that included the following sentence:  As consumer satisfaction begins to have a bigger impact on the bottom line, more hospitals are hiring a chief patient experience officer (CXO) to treat patients like valued … Continue reading “Patients Are Customers. Who Knew?”

New Michigan State Medical Society-Backed Fund to Help Startups Grow

Late last month, the Michigan State Medical Society (MSMS) announced the launch of Quantum Medical Concepts, a first-of-its-kind fund for early-stage medical startups based in Michigan. Companies funded by Quantum will also have the opportunity to get business support and coaching through a partnership with Common Wealth Enterprises, a startup management firm that runs the … Continue reading “New Michigan State Medical Society-Backed Fund to Help Startups Grow”

Note to Government: Mandate Cybersecurity, Then Get Out of the Way

The digital economy stands on uncertain ground. From Target to Adobe, cybercriminals have infiltrated the networks of some of the largest businesses in the United States, turning 2013 into a record-setting year for data breaches. Companies lost more than 800 million records in nearly 2,200 incidents, doubling the loss of the previous highest year, 2011, … Continue reading “Note to Government: Mandate Cybersecurity, Then Get Out of the Way”

BeneSys Secures New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=97e09643-f288-499a-8d12-122c5a668dd1 Date 4/2/2014 Company Name BeneSys Mailing Address 700 Tower Drive Troy, MI 48098 USA Company Description BeneSys is a team of dedicated Taft-Hartley Trust Fund Specialists. BeneSys understands the nuances of Taft-Hartley benefit plans. We are experienced and accustomed to programming and administering plans that have unusual benefit plan parameters. Website … Continue reading “BeneSys Secures New Funding”

NeuMoDx Molecular Lands $21,000,000 Series B Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c835eaf5-146a-40c7-96e9-3578acc8643b Date 4/2/2014 Company Name NeuMoDx Molecular Mailing Address 1250 Eisenhower Place Ann Arbor, MI 48108 USA Company Description NeuMoDx Molecular, Inc. will provide hospital and clinical reference laboratories with a vastly superior solution for in vitro molecular diagnostic (MDx) testing. Website http://www.neumodx.com Transaction Type Venture Equity Transaction Amount $21,000,000 Transaction Round … Continue reading “NeuMoDx Molecular Lands $21,000,000 Series B Funding Round”

WaitTime Hopes to Find Shortest Beer Line at the Ballpark

Today is the home opener for the Detroit Tigers, a day when busloads of suburbanites descend upon downtown to engage in extreme day drinking and related mayhem to celebrate the start of the Major League Baseball season. Wouldn’t it be great if revelers could pull up an app to check which beer lines in Comerica … Continue reading “WaitTime Hopes to Find Shortest Beer Line at the Ballpark”

Appearing Briefly at Your Next Conference: “Whac-A-Mole” Speakers

Whac-A-Mole, for those of you who are not familiar with it, is a fast-paced arcade game in which mechanical moles pop quickly in and out of holes on a large board. You earn points by whacking them with a giant hammer whenever they pop out of their holes. You need really good reflexes to do … Continue reading “Appearing Briefly at Your Next Conference: “Whac-A-Mole” Speakers”

4 IT Mistakes All Startups Should Avoid

Information Technology (IT) can be a startup’s biggest asset. Take, for instance, the cloud, mobile devices, and social media—they have all opened up exciting new business opportunities for startups, while also offering them the tools to grow their business powerfully. Yet, we have seen multiple startups make critical IT mistakes. Consequently, their business operations become … Continue reading “4 IT Mistakes All Startups Should Avoid”

Women 2.0 City Meet-Up

Women 2.0’s Founder Friday event has been remade into the monthly Women 2.0 City Meet-Up, held every first Thursday. It remains a networking event for entrepreneurs, innovators, investors, and those who work in the tech industry. This month’s speaker will be Rachel Schostak, founder of StyleShack. For registration, click here.

Think Like a Founder Before Becoming One

February 2014 will go down in history as a month with two huge startup exits: Nest (acquired by Google for a whopping $3.2 billion) and WhatsApp (acquired by Facebook for an even more whopping $19 billion). If you haven’t caught the startup bug, there’s a good chance you will have caught it after this. What’s … Continue reading “Think Like a Founder Before Becoming One”

Sugary Foods Are Killing Us. The Internet, Not So Much.

When I’m jittery from too much caffeine, I don’t blame it on Starbucks. It’s not entirely Hershey’s fault that I have an unhealthy love of chocolate. And if, in a moment of idleness, I click on a headline like 35 Foods From Your Childhood That Are Extinct Now, I don’t blame BuzzFeed for wasting three … Continue reading “Sugary Foods Are Killing Us. The Internet, Not So Much.”

MI Roundup: MGCS, XanEdu, A2B Bikeshare, Self.conference

Here’s a look at news from around Michigan’s innovation communities that you may have missed: —There is less than one week to apply for the annual Michigan Growth Capital Symposium (MGCS), where 90 high-growth, innovative ventures will compete to secure one of the 40 slots to present at this year’s event. Applications for presenting companies … Continue reading “MI Roundup: MGCS, XanEdu, A2B Bikeshare, Self.conference”

Detroit’s LithFire-X on Lithium-Ion Battery Fires and Flight 370

On March 18, pilot Chris Goodfellow wrote a widely shared op-ed for Wired detailing what he believed happened to Malaysia Airlines Flight 370, which disappeared shortly after taking off from Kuala Lumpur on March 8. He had no doubt, he wrote, that the plane experienced a catastrophic fire, which explains why the plane’s communications systems … Continue reading “Detroit’s LithFire-X on Lithium-Ion Battery Fires and Flight 370”

Why Internal Ventures Are Different from External Startups

This post follows directly on Steve Blank’s earlier excellent post, Why Companies are not Startups. The question of how corporations can be more innovative is one I have wrestled with for a long time. For those who don’t know, I wrote the book Open Innovation in 2003, and followed it with Open Business Models in … Continue reading “Why Internal Ventures Are Different from External Startups”

Calling All Angels: Practically Anyone Can Be an Angel Investor

I’m a big fan of angel investing. The thrill of helping innovative entrepreneurs launch their dreams is as exciting as anything I’ve ever done. I once heard someone say your life is divided into thirds—you spend the first third learning, the second third earning, and the last third returning. I like that. For me, angel … Continue reading “Calling All Angels: Practically Anyone Can Be an Angel Investor”

Bootstrappers Breakfast

All founders of early-stage tech startups are invited to attend this monthly event. Compare notes, share ideas, commiserate, and network with a group of fellow entrepreneurs. To register, click here.

TechTown Open Office Hours

Do you have a hot, tech-enabled startup idea? Would you like an expert opinion on what to do next? The TechTown accelerator hosts open office hours on April 9 and April 17 in its Detroit office to answer entrepreneurs’ questions. Registration required. Click here for more information.

Carcode’s Prize-Winning App Allows Customers to Text Car Dealerships

It’s an auto industry pain point that might seem simple: How do car dealerships communicate with potential customers through text messaging? A startup called Carcode based in Seattle and Ann Arbor, MI, thinks it has the answer, and its solution won the grand prize last month at a hackathon sponsored by car-shopping website Edmunds.com. For … Continue reading “Carcode’s Prize-Winning App Allows Customers to Text Car Dealerships”

App Competition Open to Wayne State Students, Faculty, Alumni

Blackstone LaunchPad, a Wayne State University program funded by the New Economy Initiative and the Blackstone Charitable Foundation that offers resources and guidance to student entrepreneurs and inventors, is on a mission to spur the creation of apps. The LaunchPad is teaming up with the university’s office of economic development in a new competition open … Continue reading “App Competition Open to Wayne State Students, Faculty, Alumni”

Little Insights About ‘Big Data’

A little over a year ago I became the CEO of a company in the “big data” space that is developing predictive analytics software. My CTO is the “data guy,” and I’m the “business guy.” While my background is technical, I had very little experience in data or analytics and only knew about big data … Continue reading “Little Insights About ‘Big Data’”

Detroit Institute of Music Education Receives $3,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2bd3faf2-5aeb-4704-9aef-0c746b7a6a60 Date 3/24/2014 Company Name Detroit Institute of Music Education Mailing Address 1520 Woodward Avenue Capitol Park Detriot, MI 48226 USA Company Description At DIME, we allow you to specialize in songwriting, music entrepreneurship, guitar, bass, drums or vocals. We will help you direct all your energy towards the areas of your … Continue reading “Detroit Institute of Music Education Receives $3,000,000 New Funding Round”

Detroit’s 6th Man Apps Scores With Advanced Basketball Analytics

NCAA bracketeers, are you shaking your fists at the sky over Ohio State’s massive crap-out yesterday? Don’t feel bad—I had OSU going to the Elite 8 because my brain was obviously malfunctioning when I filled out my bracket. (But I’ll make up for that error in judgment when the Michigan State Spartans win the whole … Continue reading “Detroit’s 6th Man Apps Scores With Advanced Basketball Analytics”