Category: Detroit

SAE World Congress and Exhibition

Chrysler hosts this year’s installment, which has a theme of “Achieving Efficiency.” SAE is a global organization of engineers involved in the automotive and aerospace sectors. This three-day conference will cover hot topics in the engineering community. For details, click here.

AutoHarvest Seeks to Become the “Amazon of Innovation”

AutoHarvest, a nonprofit website that aims to connect the auto industry with entrepreneurs and inventors, has just announced a partnership with the U.S. Patent and Trademark Office. It’s the latest big name to come aboard—other supporters include Ford, Chrysler, General Motors, Covisint, and various universities and economic development agencies. “Our mission is to help accelerate the … Continue reading “AutoHarvest Seeks to Become the “Amazon of Innovation””

Limit the Decisions You Make as a Leader

My hardest job as a CEO: Not making decisions. Yes, you read that right. My goal as an executive is to make only one significant decision a year. But isn’t that what a leader is supposed to do? Take the heat, call the shots, and have the final say? That’s the conventional wisdom on leadership. … Continue reading “Limit the Decisions You Make as a Leader”

SoMoLend Obtains $400,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a3b9c7a8-e901-4f0b-b7f7-3ce1fa39a49d&Preview=1 Date 3/6/2013 Company Name SoMoLend Mailing Address 1660 West 2nd Street Cleveland, OH 44113 Company Description SoMoLend LLC, a company developing a peer-to-peer lending platform for small businesses. Website http://www.SoMoLend.com Transaction Type Venture Equity Transaction Amount $400,000 Transaction Round Undisclosed Proceeds Purposes The investment will be used to further enhance the … Continue reading “SoMoLend Obtains $400,000 New Financing”

Uconnect Secures $2,000,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0869d92c-ed1b-47d0-8014-7cc8defdb179&Preview=1 Date 3/6/2013 Company Name Uconnect Mailing Address 107 N. Hamilton St Madison, WI 53703 Company Description EatStreet was designed to make local food delivery as easy as possible. EatStreet is a free online ordering service that connects you with food from your favorite local restaurants. With EatStreet you can easily find … Continue reading “Uconnect Secures $2,000,000 Series A Funding Round”

Appcore Secures $6,000,000 Series B Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=76d28ce1-e95b-4010-9d85-a9fd7d4bc0cf&Preview=1 Date 3/6/2013 Company Name Appcore Mailing Address 666 Walnut Street 12th Floor Des Moines, IA 50309 Company Description Appcore delivers local cloud infrastructure for enterprise private clouds and service provider public clouds. Appcore Onsite™ is a converged platform of automation, appstore, administration and architecture, designed to be roll-in ready, accelerating the … Continue reading “Appcore Secures $6,000,000 Series B Funding”

Company Born At Startup Weekend Detroit Releases Sales App

When Sandy Barris came to Startup Weekend Detroit last year, he had an idea for an app that would help people working in direct sales track their activities and stay motivated. He hooked up with some developers at the marathon event, and a rudimentary product was created. Barris says it wasn’t long before things fell … Continue reading “Company Born At Startup Weekend Detroit Releases Sales App”

Small Businesses to Tech Providers: Nah, We’re Good

If you’re a technology entrepreneur thinking about trying to crack the small-business market, be prepared for an unenthusiastic reception. That’s a big takeaway from a recent survey of small businesses in the Boston area sponsored by Dell and Intel. After asking 101 local small companies (less than 100 employees), the survey found 91 percent “satisfied … Continue reading “Small Businesses to Tech Providers: Nah, We’re Good”

Stik Secures $2,300,000 Series A Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=eda6eb43-d887-48b2-a42f-0149be5b0954&Preview=1 Date 3/5/2013 Company Name Stik Mailing Address 1555 Broadway Detroit, MI 48226 Company Description Stik is bringing authentic consumer reviews to the local professional services market. Stik helps local professionals build their business and reputation, and help consumers find trusted local professionals recommended by their friends. Website http://www.stik.com Transaction Type Venture … Continue reading “Stik Secures $2,300,000 Series A Financing”

Wound Care Technologies Obtains $1,219,255 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=092d54a2-2143-4009-991b-316419058c30&Preview=1 Date 3/5/2013 Company Name Wound Care Technologies Mailing Address 1851 Lake Drive West Chanhassen, MN 55317 Company Description Wound Care Technologies is committed to innovation in the development of products to aid in the treatment of acute and chronic wounds. Website http://www.woundcaretech.com Transaction Type Venture Equity Transaction Amount $1,219,255 Transaction Round … Continue reading “Wound Care Technologies Obtains $1,219,255 New Funding”

Swallow Solutions Receives $1,046,000 Series A Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d953eb48-7f48-4956-9759-80d29eb204d7&Preview=1 Date 3/5/2013 Company Name Swallow Solutions Mailing Address 313 Price Place Madison, WI 53705 Company Description Swallow Solutions LLC is dedicated to individuals suffering from swallowing disorders, generally known as dysphagia. We focus on two areas related to dysphagia – therapeutic devices for diagnosing and treating swallowing disorders and nutritional food … Continue reading “Swallow Solutions Receives $1,046,000 Series A Financing Round”

Mobile Matchup

The Mobile Technology Association of Michigan presents this event for businesses and mobile app developers to meet and network. John Ellis, global head of the Ford Developer Program for the Ford Motor Company, will deliver the keynote address. Starting at 4 .m., a class will be held about mobile app development for entrepreneurs only. Click … Continue reading “Mobile Matchup”

Detroit Startups Stik.com and UpTo Raise Key Financing Rounds

Detroit’s nascent tech scene got another boost with the announcement today that Stik.com, an online business referral platform that relocated to the Motor City from San Francisco last year, has closed a fundraising round worth $2.3 million. Nathan Labenz, Stik’s co-founder, says that the round was led by Detroit Venture Partners (DVP) with a host of … Continue reading “Detroit Startups Stik.com and UpTo Raise Key Financing Rounds”

Someone Needs to Rank U.S. Biotech Hubs, For Real

[Updated: 11:40 am PT] It’s time for a challenge: Will somebody please come out with a deeply researched and credible report that ranks U.S. regional biotech clusters, on the criteria that matter the most? I’m feeling compelled to issue this challenge after going over the latest deeply flawed report on this subject, from real estate … Continue reading “Someone Needs to Rank U.S. Biotech Hubs, For Real”

OncoFusion Therapeutics Garners $525,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=82220e69-9f98-4be2-a737-016dd908c294&Preview=1 Date 3/2/2013 Company Name OncoFusion Therapeutics Mailing Address 1600 Huron Parkway 2nd Floor Ann Arbor, MI 48109 Company Description OncoFusion Therapeutics, Inc. (Ann Arbor, MI) is an oncology discovery and development company targeting gene fusions that are thought to drive many common cancers. The technology is based on discoveries from the … Continue reading “OncoFusion Therapeutics Garners $525,000 New Financing”

Nugg-it Garners $600,000 Seed Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=690741d8-e7a5-4dff-9794-786cd36db1f8&Preview=1 Date 3/2/2013 Company Name Nugg-it Mailing Address 637 Walnut Cincinnati, OH 45202 Company Description Nugg-It LLC develops and manufactures audio recording device. The company was incorporated in 2011 and is based in Cincinnati, Ohio. Website Undisclosed Transaction Type Venture Equity Transaction Amount $600,000 Transaction Round Seed Proceeds Purposes Proceeds purposes were … Continue reading “Nugg-it Garners $600,000 Seed Funding”

Marxent Labs Secures $800,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1203695a-0cdf-4cc3-8f5c-9077cee3f125&Preview=1 Date 3/2/2013 Company Name Marxent Labs Mailing Address 3100 Research Blvd Kettering, OH 45420 Company Description We are retail and marketing technology experts, specializing in Augmented Reality and multi-platform mobile app development for iOS (iPhone/iPad) and Android. Let us build something extraordinary for you. Website http://www.marxentlabs.com Transaction Type Venture Equity Transaction … Continue reading “Marxent Labs Secures $800,000 New Round”

Challenge Detroit and Detroit Revitalization Fellows Seek New Participants

Two fellowship programs that bring talented young professionals to Detroit in the hopes that they’ll make a permanent home here are accepting applications through Sunday for a new cohort of participants. Both the Challenge Detroit and the Detroit Revitalization Fellows programs have succeeded in luring some of the country’s most passionate young entrepreneurs and community builders … Continue reading “Challenge Detroit and Detroit Revitalization Fellows Seek New Participants”

Finding Parallels in Baseball and Drug Development

Consider a candidate.  Selecting that candidate takes thousands of hours of time and research–checking background, verifying data, assessing probabilities, projecting futures.  Once selected, more years of development follow, during which time the odds of success are less than 10 percent.  And if that candidate finally does make it, there’s just a small window of exclusivity … Continue reading “Finding Parallels in Baseball and Drug Development”

UpTo Secures $1,500,000 Series A Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9b4394a4-20c8-4227-82aa-ed32c0e582f9&Preview=1 Date 3/1/2013 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 Secures $1,500,000 Series A Financing”

Osage University Partners Expanding Its Novel Venture Firm Model

Discoveries at the Yale School of Medicine are helping nearby Kolltan Pharmaceuticals in New Haven, CT, to try to keep cancer drugs working by eliminating the resistance that patients often develop to current cancer treatments. Kolltan is the kind of company routinely spun out by Yale and other top research universities, which often hold the … Continue reading “Osage University Partners Expanding Its Novel Venture Firm Model”

Paul Allen Gives $7.5M to Little-Known Scientists Dreaming Big

Just a few days after tech moguls Mark Zuckerberg and Sergey Brin gave a bunch of prize money to some of biotech’s biggest stars, along comes Paul Allen doing his own thing, giving his money to some lesser-known scientists striving for all different kinds of breakthroughs. The Seattle-based Paul G. Allen Family Foundation said today … Continue reading “Paul Allen Gives $7.5M to Little-Known Scientists Dreaming Big”

Kinnear: Big Ideas Define U-M’s Current Entrepreneurial Climate

After 30 years, what sets apart winners of the University of Michigan’s annual Michigan Business Challenge competition? “Big ideas,” says Tom Kinnear. Kinnear is in a position to know. He helped found U-M’s Zell Lurie Institute for Entrepreneurial Studies, which hands out the awards, and has watched student entrepreneurs evolve through the years. “The number of teams and … Continue reading “Kinnear: Big Ideas Define U-M’s Current Entrepreneurial Climate”

EPAY Systems Garners $1,200,840 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=adfcb708-5af9-4143-ab4b-03880326e9e4&Preview=1 Date 2/28/2013 Company Name EPAY Systems Mailing Address 8430 W. Bryn Mawr Avenue Chicago, IL 60631 Company Description Develops and deploys punch to pay solutions for time clock pay systems. Website http://www.epaysystems.com Transaction Type Debt Transaction Amount $1,200,840 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. SEC regulatory filing. … Continue reading “EPAY Systems Garners $1,200,840 New Financing Round”

Varsity News Network Lands $1,094,604 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d49dbc64-e926-4ac1-a33d-f3934540c7aa&Preview=1 Date 2/28/2013 Company Name Varsity News Network Mailing Address 335 Madison Avenue Se Grand Rapids, MI 49503 Company Description Varsity News Network increases exposure and recognition for high school athletes, and empowers students interested in media to gain experience in the field. In sports and advanced education, VNN pushes the boundaries … Continue reading “Varsity News Network Lands $1,094,604 New Financing Round”

Wayne State Biotech Spinout Advaita Continues Growth

Advaita, the Plymouth, MI-based biotech startup spun out of technology developed at Wayne State University, has been selected to participate in the National Institutes of Health’s (NIH) Commercialization Assistance Program (CAP). The 18-month program provides mentoring, training, and consulting to help companies get their products to market. Only 60 companies nationwide are picked to participate … Continue reading “Wayne State Biotech Spinout Advaita Continues Growth”

New Partner at Quiet Hambrecht Fund Takes ‘Moneyball’ Approach to VC

Thomas Thurston says we’ve entered “the era of the Moneyball VC,” and no less a name than investment banking pioneer Bill Hambrecht is placing a bet on this Northwest-based data scientist’s formula for picking winners. Over the last seven years, Thurston (pictured) has been developing algorithms—first at Intel Capital, and later in collaboration with Harvard … Continue reading “New Partner at Quiet Hambrecht Fund Takes ‘Moneyball’ Approach to VC”

TinderBox Lands $1,300,000 Series B Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6a5dbd2f-9966-4649-8adc-8f4fd903af45&Preview=1 Date 2/26/2013 Company Name TinderBox Mailing Address 5255 Winthrop Ave Indianapolis, IN 46240 Company Description With faster, simpler, more collaborative proposal and marketing communications solutions, this is what we do every day. Because we believe proposing a business relationship is about making a strong impression, collaborating with prospects, and doing so … Continue reading “TinderBox Lands $1,300,000 Series B Funding”

Ag Tech Startup FarmLogs Nets $1M in Seed Funding

The Ann Arbor, MI-based ag tech startup FarmLogs is on a quest to bring farm management into the digital age, and the recent completion of a $1 million seed round lead by Ann Arbor-based Huron River Ventures and Chicago-based Hyde Park Venture Partners will push the company forward. What FarmLogs offers is a one-stop farm … Continue reading “Ag Tech Startup FarmLogs Nets $1M in Seed Funding”

As MWC Opens in Barcelona, We’re All on the Eve of Disruption

It’s sunny but cold in Barcelona today, as more than 72,000 telecom and technology professionals arrive for the first day of the Mobile World Congress. They come for the spinning, networking, and opportunity seeking—and perhaps for the tapas and Spanish wine. Yet the show is so big and so dispersed that most companies begin trumpeting … Continue reading “As MWC Opens in Barcelona, We’re All on the Eve of Disruption”

Zuckerberg Takes a Small Step in Right Direction, Backing Biotech

Woody Allen is often quoted as saying 80 percent of life is just showing up. This past week Facebook CEO Mark Zuckerberg wrote a decent check, and just as important, he showed up for life sciences. It’s a small gesture, but a start. The social-networking wizard took some time out of his week to stop … Continue reading “Zuckerberg Takes a Small Step in Right Direction, Backing Biotech”

Cardiovascular Systems Receives $2,500,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2b1e8aa1-ff43-4676-9f69-91afd63bc920&Preview=1 Date 2/25/2013 Company Name Cardiovascular Systems Mailing Address 651 Campus Drive St. Paul, MN 55112 Company Description Cardiovascular Systems Inc. (CSI) is comprised of a highly experienced, uniquely qualified team of experts experienced in the assessment, development and commercialization of medical devices for treating peripheral arterial disease. Website http://www.csi360.com Transaction Type … Continue reading “Cardiovascular Systems Receives $2,500,000 New Financing Round”

Bizdom, TechTown, Invest Detroit Launch $1M Technology Exchange

Thanks to a $1 million grant from the Michigan Strategic Fund, Detroit business incubators Bizdom and TechTown are partnering with Invest Detroit on a new initiative called the Detroit Technology Exchange (DTX). DTX will consist of programs geared toward strengthening Detroit’s entrepreneurial ecosystem, attracting and retaining talent, and getting investment money flowing through the local startup … Continue reading “Bizdom, TechTown, Invest Detroit Launch $1M Technology Exchange”

I Switched from Mint.com to Pageonce. Maybe You Should Too.

[Update: As of May 2013, Pageonce has officially changed the name of its app and service to Check.] For more than a decade, I was a faithful user of Quicken, Intuit’s desktop personal finance program. I stopped using it in 2008 after Mint.com came along, giving me the ability to monitor all my accounts from … Continue reading “I Switched from Mint.com to Pageonce. Maybe You Should Too.”

National Science Foundation Scales Up Entrepreneurship Program

The National Science Foundation said today that it will fund a major expansion of its Innovation Corps program, an effort to teach NSF-funded university researchers how to build profitable startups around their technologies. In its initial stages, the two-year-old “I-Corps” program has been flying researchers to Stanford University, the University of Michigan, and Georgia Tech … Continue reading “National Science Foundation Scales Up Entrepreneurship Program”

Innovations in Financial Technology: Wisdom of the Crowd

It is of particular interest to me when an established industry begins to innovate and move in new directions. Financial technology has been an active area of innovation all along, but the advent of social media and crowd sourcing has infused new life to the sector. Aside from crowdfunding, here at 1M/1M we are also … Continue reading “Innovations in Financial Technology: Wisdom of the Crowd”

Coming Soon: the Detroit Bus Company’s Newest Transit Innovations

Andy Didorosi, the founder and CEO of the Detroit Bus Company, is on a mission. Not content to merely revolutionize the city’s transit system, which is in desperate need of fixing, Didorosi is rolling out a new set of innovations over the coming months. When we went a rollicking ride along on one of Didorosi’s buses … Continue reading “Coming Soon: the Detroit Bus Company’s Newest Transit Innovations”

Facebook, Google Moguls Give $33M in Prizes to Biomedical Stars

[Updated 11:35 am with Zuckerberg comment] Some of the highest achievers in technology are giving away a lot of money to people who have made some of the biggest achievements in biotech. Facebook’s Mark Zuckerberg and his wife Priscilla Chan, along with Google’s Sergey Brin and his wife Anne Wojcicki, announced today they have come … Continue reading “Facebook, Google Moguls Give $33M in Prizes to Biomedical Stars”

Lost My iPhone in Royal Danish Moat—Can You Beat That?

I don’t have too many firsts to my name. But I’m betting I’m the first to lose an iPhone 5 in the moat of Rosenborg Castle, the famous Danish royal family castle in the heart of Copenhagen. At least in 2013. It just happened today—luckily my laptop was back at the hotel. I am here … Continue reading “Lost My iPhone in Royal Danish Moat—Can You Beat That?”

The Academy Awards: Biopharma Edition

Academy Award season is upon us, with the Oscars being polished up in anticipation of the big night. Who knows which Hollywood heavyweights and newcomers will be recognized for their seminal contributions to this year’s films? Suppose, however, that there was a drug industry version of the awards. What kind of categories would there be, … Continue reading “The Academy Awards: Biopharma Edition”

Trends to Watch at This Year’s Big AGBT Meeting

Mainstream news stories often mistake technology for science.  Such conflation likely reflects how gizmos and knowledge, like arteries and veins, form a virtuous cycle: understanding nature requires, and refines, good tools. In genomics, that symbiosis burns brightest at Advances in Genome Biology & Technology (AGBT), the yearly nucleic acid trip in Florida, where new sequencing … Continue reading “Trends to Watch at This Year’s Big AGBT Meeting”

SoMoLend Lands $545,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8123fd5c-b6a2-4ee7-be24-3bcfb17fb356&Preview=1 Date 2/20/2013 Company Name SoMoLend Mailing Address 1660 West 2nd Street Cleveland, OH 44113 Company Description SoMoLend LLC, a company developing a peer-to-peer lending platform for small businesses. Website http://www.SoMoLend.com Transaction Type Debt Transaction Amount $545,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. SEC regulatory filing. M&A Terms … Continue reading “SoMoLend Lands $545,000 New Funding”

Neuros Medical Lands $1,750,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=02213e06-6116-4023-890a-5cc1db6f15bb&Preview=1 Date 2/20/2013 Company Name Neuros Medical Mailing Address 4230 Route 306 Willoughby, OH 44094 Company Description Neuros Medical is focused on developing neurostimulation therapies for unmet needs to patients worldwide. The Company’s platform technology, Nerve Block, provides patients with elimination of chronic pain and spasticity in a variety of applications including … Continue reading “Neuros Medical Lands $1,750,000 New Financing Round”

Referly Acquires Launchgram for Undisclosed Sum

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4eeade1c-2dd3-46b1-b0b8-2d527ab6aa7f&Preview=1 Date 2/20/2013 Company Name Launchgram Mailing Address Undisclosed Columbus, OH 43202 Company Description LaunchGram is makes it ridiculously easy for consumers to stay updated on movies, TV shows, & video games before they’re released. Before each movie, TV show, or video game is released, there are release dates, season premiere announcement, … Continue reading “Referly Acquires Launchgram for Undisclosed Sum”

U-M Opens Law Clinic for Student Startups

The entrepreneurial ecosystem at the University of Michigan quietly added another layer last year with the establishment of a law clinic that offers free legal services to student entrepreneurs. Described by officials as a first at the university, the clinic is joining the growing number of similar endeavors on college campuses across the nation as … Continue reading “U-M Opens Law Clinic for Student Startups”

High Hanging Fruit

Let’s face it. There are tens of thousands of super smart, tech-savvy, funded teams out there chasing the next Massively Viral consumer Internet phenomenon. Think of it like an incredibly parallel search algorithm where every conceivable customer acquisition twist and hook is being explored with effectively infinite resources of fine young minds backed by the … Continue reading “High Hanging Fruit”