A minimum viable product (MVP) is not always a smaller/cheaper version of your final product. Defining the goal for an MVP can save you tons of time, money and grief. Drones over the Heartland I ran into a small startup at Stanford who wants to fly unmanned aerial vehicles (drones) with a hyper-spectral camera over … Continue reading “An MVP Is Not a Cheaper Product—It’s About Smart Learning”
Category: Detroit
U-M Announces New Heads of Zell Lurie Institute, Center for Entrepreneurship
This week marks a changing of the guard for two key entrepreneurship programs at the University of Michigan. The Ross School of Business announced that Stewart Thornhill will replace the retiring Tom Kinnear as executive director of the Zell Lurie Institute for Entrepreneurial Studies, one of the oldest and highest ranked university entrepreneurial programs in … Continue reading “U-M Announces New Heads of Zell Lurie Institute, Center for Entrepreneurship”
Michigan Angel Fund Makes First Investment in BioPhotonics
The Michigan Angel Fund (MAF), a new 70-member angel investing group managed by Ann Arbor SPARK, announced it has made its first investment—in East Lansing-based BioPhotonics Solutions. Terms of the deal were undisclosed. The MAF, a $2 million professionally managed equity fund formed last year, is the largest angel organization in Michigan. BioPhotonics Solutions is … Continue reading “Michigan Angel Fund Makes First Investment in BioPhotonics”
The Biotech IPO Phenomenon of 2013: Enjoy It While It Lasts
The year is only half over, but one of the biggest biotech stories of 2013 is going to be the resurgence of the biotech IPO market. It’s a good news/bad news story, depending on where you stand, and how far you look out into the future. First, the good. The IPO surge is a vote … Continue reading “The Biotech IPO Phenomenon of 2013: Enjoy It While It Lasts”
How to Save $200 Billion and Cure Hepatitis C
Wall Street is buzzing with anticipation about the first new all-oral drugs for hepatitis C approaching the market. The high rate of HCV infection and dissatisfaction with current treatments have created a potential multi-billion dollar bonanza for drug companies. It’s estimated that Gilead, the frontrunner in this race, will charge as much as $90,000 per … Continue reading “How to Save $200 Billion and Cure Hepatitis C”
Livio Radio Obtains $300,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e43c9283-9146-48b5-839b-a2efa7e0d048 Date 7/22/2013 Company Name Livio Radio Mailing Address 3136 Hilton Ferndale, MI 48220 Company Description Livio Connect is a liaison between your customers’ various apps and hardware devices. It’s a protocol that enables users to control today’s apps with their voice or fingers through the physical buttons on hardware equipment — … Continue reading “Livio Radio Obtains $300,000 New Financing”
The Art Commission Garners $950,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2970a3d7-b8cd-4177-a4f0-f1974404bada Date 7/22/2013 Company Name The Art Commission Mailing Address 155 E. Wilson Madison, WI 53703 Company Description The Art Commission provides an online platform for connecting those who create with those who commission. Artists select from a number of subscription options based on number of images shown, and we market their … Continue reading “The Art Commission Garners $950,000 New Round”
Don’t Call Me “Girl,” Sir: Women, Tech, and a Chat with Olivia Munn
It is long past time to stop regarding the presence of women in technology as an anomaly—yet achieving widespread acknowledgment of their work remains a challenge. Multiple organizations in New York—including Girls Who Code, Cornell NYC Tech, and L’Oréal—and across the country are taking on this task while also encouraging new generations of women to … Continue reading “Don’t Call Me “Girl,” Sir: Women, Tech, and a Chat with Olivia Munn”
VC Funding Levels Out as Early Stage Turns Up & Top 10 Deals
Consistent and modest are the words that seem to best describe U.S. venture capital activity during the second quarter, as VC investments remained more or less level with the first three months of 2013, according to recent data from several venture-tracking surveys. But the pace of venture investing is down in comparison to the second … Continue reading “VC Funding Levels Out as Early Stage Turns Up & Top 10 Deals”
Fiberstar Secures $10,640,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a0bbb81f-44a2-4eb1-aa3b-656966b13b11 Date 7/19/2013 Company Name Fiberstar Mailing Address 713 St. Croix Street River Falls, WI 54022 Company Description Fiberstar, Inc. is a privately owned research and development company focusing on improving food freshness and nutrition through technological innovation. It also operates a manufacturing facility that produces its Citri-Fi line of products. Website … Continue reading “Fiberstar Secures $10,640,000 New Financing Round”
Zurex Pharma Garners $846,458 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=86450360-00a2-4181-b28b-f6f5113263e8 Date 7/19/2013 Company Name Zurex Pharma Mailing Address 2113 Eagle Drive Middleton, WI 53562 Company Description Zurex Pharma, Inc. is a specialty pharma and medical technology company with a novel antimicrobial technology platform. Our company’s mission is to develop and commercialize a portfolio of new antimicrobial products designed to prevent healthcare … Continue reading “Zurex Pharma Garners $846,458 New Financing”
MI Biotech Roundup: Rockwell, Metabolic Solutions Publish New Data
—Rockwell Medical, based in Wixom, MI, last week announced successful results from its Phase 3 trials of Soluble Ferric Pyrophosphate (SFP), an iron salt administered to dialysis patients through dialysate to replace the iron lost during dialysis. The data showed that in dialysis patients not receiving IV iron, SFP effectively delivers iron via dialysate and maintains … Continue reading “MI Biotech Roundup: Rockwell, Metabolic Solutions Publish New Data”
BioPhotonics Solutions Secures New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3bb73f63-6954-4be2-9b17-1f89f4bad2c8 Date 7/18/2013 Company Name BioPhotonics Solutions Mailing Address 1401 East Lansing Drive East Lansing, MI 48823 Company Description BioPhotonic Solutions Inc. (BSI), a Michigan State University spin-out venture founded in 2003 by University Distinguished Professor Dr. Marcos Dantus, is in the early phases of revolutionizing the ultrafast laser industry with its … Continue reading “BioPhotonics Solutions Secures New Financing”
Whole Foods Commits $1M to Grameen America for Detroit Microlending Program
As part of Texas-based Whole Foods’ investment in Detroit, its Whole Planet Foundation has committed $1 million to the microfinance organization Grameen America to assist Detroit entrepreneurs. Grameen America, which was founded by Nobel Peace Prize recipient Muhammad Yunus, is a domestic microfinance nonprofit assisting women in poverty and operating in New York City (its … Continue reading “Whole Foods Commits $1M to Grameen America for Detroit Microlending Program”
ArborMetrix Garners $7,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f7790b13-8e33-4f18-a086-e5f7d8725d5d Date 7/17/2013 Company Name ArborMetrix Mailing Address 2929 Plymouth Road Ann Arbor, MI 48105 Company Description ArborMetrix’s combination of clinical insight and statistical science powers one of the most strategic and flexible solutions your organization can deploy to measure clinical performance and efficiency. Website http://www.arbormetrix.com Transaction Type Venture Equity Transaction Amount … Continue reading “ArborMetrix Garners $7,000,000 Series B Financing Round”
Would More SEC Paperwork Really Scare Away Angel Investors?
[Updated 7/17 with correction, see below.] Letting startups advertise that they’re raising money is supposed to be a boon for early stage companies. But a big advocate for angel investors says new federal regulations could have the opposite effect. Those new rules, approved by the SEC last week, could effectively “kill angel investing” by making … Continue reading “Would More SEC Paperwork Really Scare Away Angel Investors?”
Intel’s Diane Bryant Blazing Trail From Data Centers to Next Era of IT
In a world of apps, big data, and cloud connectivity, it can be hard to remember that there’s more to tech innovation than just software. Then you meet someone like Diane Bryant, and your worldview shifts. Bryant is senior vice president and general manager of the datacenter and connected systems group at Intel. You know, … Continue reading “Intel’s Diane Bryant Blazing Trail From Data Centers to Next Era of IT”
U.S. Venture Activity Remains Steady as IPOs Rise in Second Quarter
Venture-backed IPOs staged something of a comeback during the second quarter, as 22 VC-backed startups went public with an aggregated valuation of about $9.6 billion. Healthcare companies made up about half of those IPOs, according to the venture-data tracking firm, CB Insights. Still, it was a relatively modest period for VC activity. CB Insights says … Continue reading “U.S. Venture Activity Remains Steady as IPOs Rise in Second Quarter”
TOA Technologies Garners $66,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e46f8f6f-1b8d-483b-bc80-06fbf56d1a99 Date 7/16/2013 Company Name TOA Technologies Mailing Address 3333 Richmond Road Beachwood, OH 44122 Company Description TOA’s innovative software service (SaaS), ETAdirect 3.3, has been recognized as visionary solution by Gartner Research, for its ability to streamline the mobile workforce environment and enhance the customer experience, enabling real-time predictive communications between … Continue reading “TOA Technologies Garners $66,000,000 New Financing”
Thermalin Diabetes Secures $3,142,094 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=878eb66d-499e-460c-b9a4-4ce1545e8a97 Date 7/16/2013 Company Name Thermalin Diabetes Mailing Address 10000 Cedar Avenue 2nd Floor Cleveland , OH 44106 Company Description Thermalin Diabetes Inc. is developing a portfolio of insulin analogs to address both the fast-acting and long-acting insulin markets. Website http://www.thermalin.com Transaction Type Venture Equity Transaction Amount $3,142,094 Transaction Round Series B … Continue reading “Thermalin Diabetes Secures $3,142,094 Series B Funding Round”
XG Sciences Garners $1,899,999 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b4a51c16-4430-44b4-8b22-e2621aceeb6c Date 7/16/2013 Company Name XG Sciences Mailing Address 3101 Grand Oak Drive Lansing, MI 48911 Company Description XG Sciences, Inc. is a privately held corporation serving customers around the world. Our headquarters are in East Lansing, Michigan Our base technologies were developed in large part at the Composite Materials and Structures … Continue reading “XG Sciences Garners $1,899,999 New Funding”
XG Sciences Obtains $1,899,999 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b4a51c16-4430-44b4-8b22-e2621aceeb6c Date 7/16/2013 Company Name XG Sciences Mailing Address 3101 Grand Oak Drive Lansing, MI 48911 Company Description XG Sciences, Inc. is a privately held corporation serving customers around the world. Our headquarters are in East Lansing, Michigan Our base technologies were developed in large part at the Composite Materials and Structures … Continue reading “XG Sciences Obtains $1,899,999 New Funding”
Detroit’s UpTo Pivots, Completes a $2 Million Series A Round
UpTo, the Detroit-based startup that launched a social calendar app last year, announced last week that is has completed a $2 million Series A round and has pivoted to add new features as well as a business-to-business component. “UpTo is now a full calendar with social networking instead of the other way around,” says founder … Continue reading “Detroit’s UpTo Pivots, Completes a $2 Million Series A Round”
State Officials, Entrepreneurs Sell Michigan to National Media
On Friday, MLive reported that Xconomist Mike Finney, president and CEO of the Michigan Economic Development Corporation, Detroit Venture Partners‘ Jake Cohen, and Rick DeVos, heir to the Amway fortune and founder of Start Garden, traveled to New York City to sell the story of Michigan’s comeback to reporters from national outlets such as the … Continue reading “State Officials, Entrepreneurs Sell Michigan to National Media”
Trendspotting: Platform Ecosystems
For big enterprise services companies, the hot new trend is having a cloud-hosted platform for third-party applications. These platforms give app developers the resources they need to build, launch, promote, and integrate their apps with other businesses. This not only creates a bundle of exceptional business tools but it also creates a hotbed of savvy … Continue reading “Trendspotting: Platform Ecosystems”
Why I Won’t Cheer If Onyx Pharma Is Sold for Megabucks
Sometime in the coming weeks, South San Francisco-based Onyx Pharmaceuticals (NASDAQ: [[ticker:ONXX]]) will probably be acquired by some big drugmaker for more than $10 billion. Shareholders will count their profits. Analysts will applaud. Financial media will speculate about whether this deal will spark more acquisitions in the biotech industry. But I won’t be cheering. I’ll … Continue reading “Why I Won’t Cheer If Onyx Pharma Is Sold for Megabucks”
MarkITx Garners $2,150,000 Seed Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8c378bfa-4efe-409a-8e54-e01404158906 Date 7/15/2013 Company Name MarkITx Mailing Address 222 W. Merchandise Mart Plaza Chicago, IL 60654 Company Description We’re creating a unique platform to manage your IT hardware, providing buyers and sellers a real-time, transparent view of the secondary market. Sellers ship their equipment to our OEM-certified partners where everything is inspected … Continue reading “MarkITx Garners $2,150,000 Seed Financing”
Coolhouse Labs Demo Day
Join Coolhouse Labs as it launches its first cohort, and spend the day with investors, entrepreneurs, and mentors on the shores of Lake Michigan. For more information, click here.
API Craft Conference
What does it mean to build an API and create new mediums of communications for the programmable world? Those questions and more will be addressed at this “unconference” meant for technology professionals interested in the API movement. Organizers feel that there are many options out there in terms of API implementation, but little guidance in … Continue reading “API Craft Conference”
10 New Productivity Tricks for Your Old iPhone
As you can probably tell from my calendar (pictured in the first photo above), I’m jetting off to Michigan today for a week’s vacation with my family. For me, vacation is a time to put aside my gadgets—or at least, turn off my e-mail—and focus on sun, sailing, and cervezas. But for everyone who has … Continue reading “10 New Productivity Tricks for Your Old iPhone”
Michigan eLibrary Offers Free Online Resources for Entrepreneurs
As the recession continues to recede in Michigan and entrepreneurial culture takes root, businesses now have a new set of free tools to help create a competitive advantage. The State Library of Michigan; Gale, the Farmington Hills, MI-based publisher of research and reference resources that is part of Cengage Learning; and CIVICTechnologies, an analytics and market … Continue reading “Michigan eLibrary Offers Free Online Resources for Entrepreneurs”
Caremerge Secures $2,100,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a5b43d88-2a9d-4b69-9fd2-3db9e9660f32 Date 7/12/2013 Company Name Caremerge Mailing Address 222 W. Merchandise Mart Plaza 12th Floor Chicago, IL 60654 Company Description Caremerge is a healthcare technology company dedicated to revolutionizing communication and care coordination in senior living. Website http://www.caremerge.com Transaction Type Venture Equity Transaction Amount $2,100,000 Transaction Round Series A Proceeds Purposes The … Continue reading “Caremerge Secures $2,100,000 Series A Round”
UpTo Garners $500,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3d8a921b-0208-43b6-acdf-6cf28ecc310e Date 7/12/2013 Company Name UpTo Mailing Address 1555 Broadway Detroit, MI 48226 Company Description UpTo Lets You Glance Into the Future. Share what you’re going to be up to, see what friends are up to and discover new events. UpTo integrates with your calendar to make sharing simple. Website http://www.upto.com Transaction … Continue reading “UpTo Garners $500,000 New Funding”
Intellihot Green Technologies Secures $250,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b04df502-6f8f-4fde-a340-bd87948ff123 Date 7/12/2013 Company Name Intellihot Green Technologies Mailing Address 2900 W. Main Street Galesburg, IL 61401 Company Description Intellihot Green Technologies Inc. manufactures tankless water heater systems for residential and commercial applications. The system developed after several years of extensive research and development has been recognized for its innovative design and … Continue reading “Intellihot Green Technologies Secures $250,000 New Funding Round”
Microsoft’s Reboot: Rashid, DelBene, Mundie Reassigned or Retiring
[Updated 3:20 pm with detail] The world of Microsoft watchers knew it was coming: a major reorganization of the company around CEO Steve Ballmer’s vision of a more unified “devices and services” business. Today, we got the details from Ballmer himself, through his all-staff memo and a New York Times interview. It’s a dramatic makeover. … Continue reading “Microsoft’s Reboot: Rashid, DelBene, Mundie Reassigned or Retiring”
Seven Questions for the CEO of the Consumer Electronics Association
You may never have heard of the Consumer Electronics Association, but you’ve definitely heard of its most famous annual event: the huge Consumer Electronics Show, or International CES. The four-day extravaganza draws more than 150,000 attendees to Las Vegas each January to see keynote talks by top industry CEOs and exhibits from 3,000 companies. Interestingly, … Continue reading “Seven Questions for the CEO of the Consumer Electronics Association”
Is Crowdfunding The Future For Biomedical Research?
Microryza.com (not the catchiest of names) is a crowdfunding platform for research that raises money over the Internet from individuals who are willing to donate small amounts to fund a specific project. The average donation according to Microryza is $92. In return for a 5 percent cut of funds raised and a 3 percent credit … Continue reading “Is Crowdfunding The Future For Biomedical Research?”
CVRx Garners $29,600,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5dc07084-fca9-4bb9-877f-1470fe7bc531 Date 7/11/2013 Company Name CVRx Mailing Address 9201 West Broadway Avenue Minneapolis, MN 55445 Company Description The company has developed proprietary technology for the treatment of high blood pressure, also referred to as hypertension, that cannot be controlled with medications (refractory or resistant hypertension). Website http://www.cvrx.com Transaction Type Venture Equity Transaction … Continue reading “CVRx Garners $29,600,000 New Financing Round”
Consumer Agent Portal Secures $6,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=88a4b914-5a55-4cc4-b3d8-2a1c450653b9 Date 7/11/2013 Company Name Consumer Agent Portal Mailing Address 1550 Utica Avenue South Minneapolis, MN 55416 Company Description Consumer Agent Portal, LLC operates a website for consumers to research their insurance needs and look for independent agents. The company was incorporated in 2011 and is based in St. Louis Park, Minnesota. … Continue reading “Consumer Agent Portal Secures $6,000,000 New Financing Round”
GreenLancer Obtains $222,500 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=033b648f-9175-403d-ba8a-fdba239cd893 Date 7/11/2013 Company Name GreenLancer Mailing Address 1150 Griswold Street Detroit, MI 48226 Company Description GreenLancer’s online platform is providing the next generation of alternative energy engineering services and significantly reducing the soft costs associated with developing alternative energy projects. Website http://www.greenlancer.com Transaction Type Venture Equity Transaction Amount $222,500 Transaction Round … Continue reading “GreenLancer Obtains $222,500 Series A Financing Round”
NIH Award Will Help Phrixus Pharmaceuticals Advance to Clinical Trials
University of Michigan spinoff Phrixus Pharmaceuticals has won an award from the National Institutes of Health (NIH) that will help the company advance to clinical trials for Carmeseal-MD, its developmental drug to treat cardiac and respiratory problems in patients with Duchenne muscular dystrophy. Thomas Collet, Phrixus’ president and CEO, says the company will receive approximately $2.5 … Continue reading “NIH Award Will Help Phrixus Pharmaceuticals Advance to Clinical Trials”
7Signal Secures $250,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f9edbbe9-449b-423c-842a-43cab7e361c6 Date 7/10/2013 Company Name 7Signal Mailing Address 526 S. Main Street Akron, OH 44311 Company Description 7signal Ltd. is a United States-based network technology start-up with a mission to make healthcare and other mission-critical enterprise wireless LAN networks work – reliably. The 7signal solution is an innovative hardware/ software wireless quality … Continue reading “7Signal Secures $250,000 New Financing Round”
Don’t Give Away Your Board Seats
I had a group of ex-students out to the ranch who were puzzling over a dilemma—they’ve been working hard on their startup, were close at finding product/market fit and had been approached by Oren, a potential angel investor. Oren had been investing since he left Google four years ago and was insisting on not only … Continue reading “Don’t Give Away Your Board Seats”
ArborMetrix Platform Selected by MI Breast Oncology Quality Initiative
ArborMetrix, the Ann Arbor-based startup that aims to “filter the noise” out of the statistical approach to healthcare, says its cloud-based platform will replace the current platform used by the Michigan Breast Oncology Initiative (MiBOQI). The 26-hospital Collaborative Quality Initiative (CQI) will implement ArborMetrix’s technology to improve quality, safety, outcomes, and effectiveness of breast cancer treatment across Michigan. Blue … Continue reading “ArborMetrix Platform Selected by MI Breast Oncology Quality Initiative”
NextEnergy Awards $10K to Two Advanced Energy Companies
NextEnergy, a Detroit-based non-profit dedicated to incubating advanced energy technology, announced last week that it has awarded $10,000 in Advanced Energy Innovation awards to two southeast Michigan companies, Inmatech and Arborlight. The awards were presented last month during the Great Lakes Entrepreneur’s Quest event. Inmatech, based in Ann Arbor, is a startup focused on developing new … Continue reading “NextEnergy Awards $10K to Two Advanced Energy Companies”
Best Shot Detroit: Hitting Your Target Market
This is a competition designed for pure sales pitchers, whether you have a startup or prototype you’re trying to raise money for to get to market. Organizers are looking for a big audience and 10 salespeople to dazzle the panel of judges. Top prize includes a bundle of business services. For more info, click here.
Developer Patent Summit
Patents in all their complexity can be very challenging for software developers. This event will bring developers together with policymakers and patent experts to discuss the patent process. The evening concludes with networking. For details and registration, click here.
Nine Observations on Leadership From North America’s Highest Peak
People are always striving to develop their leadership skills, or to find a leader worth following. But sometimes the trick is recognizing when you’re in the presence of strong leadership, and learning from it. Your normal BioBeat will return to this space next week, but lately I’ve been fixated on absorbing leadership lessons for business … Continue reading “Nine Observations on Leadership From North America’s Highest Peak”
Cellular Dynamics International Lands $11,950,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8380ebde-98b0-4ae4-9200-f3ce7d7f55cf Date 7/8/2013 Company Name Cellular Dynamics International Mailing Address 525 Science Drive Madison, WI 53711 Company Description Cellular Dynamics was founded by three world-class scientists in cardiac ion channel models, hES cells, and iPS cells to provide cardiac toxicity drug testing services, including GLP and non-GLP hERG electrophysiological assays as well … Continue reading “Cellular Dynamics International Lands $11,950,000 New Funding”
CampThat Web App Helps Campers Connect With Campgrounds, Each Other
Maybe this holiday weekend you’re joining the 40 million Americans who go camping each year. Those of us who love the great outdoors know that camping web sites and apps are desperately in need of innovation—many look like they were designed in the 1990s and often don’t have complete information. CampThat, which just opened up … Continue reading “CampThat Web App Helps Campers Connect With Campgrounds, Each Other”