Forty years ago, Al Bierkle, a salesman at Kelly Services, and Bill Bierkle, an IT employee at Chrysler, saw the future of data processing: bulky yet powerful machines that could perform tasks far more efficiently than humans could. Mainframe computers were starting increase in popularity, so the Bierkle brothers plunked down $1,200 a month to … Continue reading “DIVDAT: Pivoting Into a New Generation of Data Processing”
Category: Detroit
Loosen the Rules Stifling IPOs by Venture-Backed Startups
[Editor’s Note: We asked selected Xconomists a series of questions designed to zero in on the big issues of the year, including “What would you be willing to throw a punch over?”] What would I be willing to throw a punch over? Solving the small-cap IPO bottleneck … to unleash the job creating potential of … Continue reading “Loosen the Rules Stifling IPOs by Venture-Backed Startups”
CytoPherx Obtains $34,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=19b2d357-f166-424f-a518-d25bffad22b0&Preview=1 Date 1/4/2012 Company Name CytoPherx Mailing Address 401 W. Morgan Rd. Ann Arbor, MI 48108 Company Description CytoPherx, Inc., founded in July 2007 and headquartered in Ann Arbor, Michigan, is a venture-backed, clinical stage medical device company addressing inflammation-based diseases and conditions with a proprietary selective cytopheresis system. Website http://www.cytopherx.com Transaction … Continue reading “CytoPherx Obtains $34,000,000 New Funding Round”
BodyShopBids Lands $1,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ad1c0386-7926-480c-9566-07f1156a71b6&Preview=1 Date 1/4/2012 Company Name BodyShopBids Mailing Address 600 W Chicago Chicago, IL 60610 Company Description The site operates a service that allows consumers to solicit custom automobile repair estimates. Website http://www.bodyshopbids.com Transaction Type Venture Equity Transaction Amount $1,000,000 Transaction Round Undisclosed Proceeds Purposes The company will use the financing to expand … Continue reading “BodyShopBids Lands $1,000,000 New Financing”
Diabetes Drugs Could Cure Cancer
[Editor’s note: As a New Year’s exercise, we asked a select group of Xconomists to answer this question: “What’s the craziest idea out there that just might succeed?”] Drugs for type 2 diabetes have the potential to become effective therapies for certain types of cancers. Tumor cells have increased energy needs, and starving them of … Continue reading “Diabetes Drugs Could Cure Cancer”
Counting Coups: Better, Fewer Deals in 2011 for Venture-Backed Cos.
2011 was a year of bigger deals and fewer exits for venture-backed companies, according to data being released today by Dow Jones VentureSource. VentureSource says that venture-backed companies netted $53.2 billion through a total of 522 deals of all kinds in 2011—mergers, buyouts, and IPOs. That was a 14 percent decline in the number of … Continue reading “Counting Coups: Better, Fewer Deals in 2011 for Venture-Backed Cos.”
Healthcare That Works
[Editor’s note: As a New Year’s exercise, we asked a select group of Xconomists to answer this question: “What’s the craziest idea out there that just might succeed?”] Reinventing the absolutely dysfunctional healthcare delivery system in the U.S. It is a daunting idea, as it requires major changes in 100 years worth of doctor and … Continue reading “Healthcare That Works”
Next Big Sound Garners $6,417,362 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d83c9875-02a4-4060-abed-e4e001e2420b&Preview=1 Date 1/3/2012 Company Name Next Big Sound Mailing Address 1035 Pearl St Chicago, IL 60601 Company Description Next Big Sound is an online music analytics and analysis company. Website http://www.thenextbigsound.com Transaction Type Venture Equity Transaction Amount $6,417,362 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. SEC regulatory filing. M&A … Continue reading “Next Big Sound Garners $6,417,362 New Funding”
All-Electric Transportation
[Editor’s note: As a New Year’s exercise, we asked a select group of Xconomists to answer this question: “What’s the craziest idea out there that just might succeed?”] All-electric commercial boats, ships, railway engines, and aircraft. The hyper-convergence of energy generation, battery storage, electric vehicle systems development, and electric charging infrastructure has first focused commercially … Continue reading “All-Electric Transportation”
Technology That Finally Helps Learning
[Editor’s note: As a New Year’s exercise, we asked a select group of Xconomists to answer this question: “What’s the craziest idea out there that just might succeed?”] That technology can actually play a significant positive role in education. The false promises go back at least 100 years—to extravagant claims by Thomas Edison. Certainly “computers … Continue reading “Technology That Finally Helps Learning”
SoCore Energy Obtains $3,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=dace0b37-1178-4ecd-98db-bb424000187c&Preview=1 Date 12/30/2011 Company Name SoCore Energy Mailing Address 200 E. Randolph Chicago, IL 60601 Company Description SoCore Energy is a true innovator and pioneer in the solar industry, providing some of the largest retailers, municipalities, and commercial property owners with unique solar solutions they genuinely need, trust, and value. We take … Continue reading “SoCore Energy Obtains $3,000,000 New Financing”
Detroit in 2012: The Rebirth Story That’s For Real
I’ve been dithering over my task of writing a year-end piece for Xconomy. Partly because I’m not a huge fan of them, and partly because, when it comes to my thoughts about the future of Detroit, there is just so darn much to contemplate. Since I started this job in July, I have had the … Continue reading “Detroit in 2012: The Rebirth Story That’s For Real”
Alternative Online Payments: The Dream That Refuses to Die
[Editor’s note: As a New Year’s exercise, we asked a select group of Xconomists to answer this question: “What’s the craziest idea out there that just might succeed?” ] After nearly twenty years of failed attempts, I’m still a believer in the potential transformative power of the “crazy idea” of alternative Internet payment systems, particularly … Continue reading “Alternative Online Payments: The Dream That Refuses to Die”
Healthy Transgenic Foods
[Editor’s note: We asked a group of Xconomists to answer the following question: “If you could patent one thing, what would it be?”] Transgenic foods that are programmed and cultivated not so much to lower costs at the risk of ruining health and the environment, but the opposite—like a tomato that produces lots of Omega3 … Continue reading “Healthy Transgenic Foods”
Cure for Diabetes
[Editor’s note: We asked a group of Xconomists to answer the following question: “If you could patent one thing, what would it be?”] If I can only pick one, I’d patent a functional cure for diabetes—whether it’s an artificial pancreas, a treatment to spare beta cells, or a means to prevent insulin resistance. However it … Continue reading “Cure for Diabetes”
Mu Sigma Garners $108,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9ddb234e-d754-4c0a-a79f-92ecd454b72b&Preview=1 Date 12/28/2011 Company Name Mu Sigma Mailing Address 3400 Dundee Rd Northbrook, IL 60062 Company Description Mu Sigma is a knowledge process outsourcing firm that provides high quality analytical decision support services to its clients in a cost effective manner. Website http://www.mu-sigma.com Transaction Type Venture Equity Transaction Amount $108,000,000 Transaction Round … Continue reading “Mu Sigma Garners $108,000,000 New Round”
Bacteria to Do Our Bidding
[Editor’s note: We asked a group of Xconomists to answer the following question: “If you could patent one thing, what would it be?”] Broad claims covering delivery of therapeutics using engineered bacteria. Synthetic biology tools emerging in just the last few years have made this possible. The trick, of course, is precise control. If I … Continue reading “Bacteria to Do Our Bidding”
Beyond the iPad to the hPad
[Editor’s note: We asked a group of Xconomists to answer the following question: “If you could patent one thing, what would it be?”] Two patents: a. A low-cost holographic pad: an “hPad,” which would sit on your desk and project three-dimensional fixed and moving images. It would include a touchscreen-like functionality. This would not only … Continue reading “Beyond the iPad to the hPad”
A Detroit Mom’s Quest to Breathe Innovation Into Young Minds
I’m fond of saying that what Detroit needs is a Cory Booker. But I need to amend that: What Detroit really needs is a few more people like Ida Byrd-Hill, the founder of Uplift Inc., a startup whose motto is “Utilizing intellectual property, real estate, and technology to lift people out of tragedy by reconstructing cities … Continue reading “A Detroit Mom’s Quest to Breathe Innovation Into Young Minds”
Beyond the Tablet Wars: Apple, Amazon, and the Cloud
Much has been written on the battle between Apple and Amazon. Certainly Steve Jobs’ passing has made us all reflect, and perhaps on a much deeper level than before, on the man and the empire he created. In many ways, the companies are more alike than they are different. What makes them both remarkable players … Continue reading “Beyond the Tablet Wars: Apple, Amazon, and the Cloud”
15 Great Apps for that iPad Under the Tree
The iPad 2 won’t be the only tablet turning up as a holiday gift this year: it’s finally got some real competition in the form of the more affordable Kindle Fire. But let’s face it: you don’t buy (or give someone) a Kindle Fire because of the apps. The device is designed primarily as a … Continue reading “15 Great Apps for that iPad Under the Tree”
Enabling the Cleantech Revolution
[Editor’s note: We asked a group of Xconomists to answer the following question: “If you could patent one thing, what would it be?”] It is a very dynamic time for the emerging cleantech market, and success will only be ensured if strong technologies are combined in systems that work the first time. So, if I … Continue reading “Enabling the Cleantech Revolution”
24-Hour, Full-Genome Scans
[Editor’s note: We asked a group of Xconomists to answer the following question: “If you could patent one thing, what would it be?”] A DNA sequencing technology that results in full genome scans in less than 24 hours. This would enable real-time profiling of cancer patients, which would be of tremendous value in determining the … Continue reading “24-Hour, Full-Genome Scans”
Potential Treatment for Degenerative Eye Diseases Developed at Wayne State
Former Wayne State University opthalmology researchers Raymond Iezzi and Rangaramanujam Kannan have developed a new way to treat age-related macular degeneration and retinitis pigmentosa using injections of nanoparticles, the university announced earlier this month. Iezzi, who has since gone on to the Mayo Clinic, and Kannan, who is now with Johns Hopkins, are currently in … Continue reading “Potential Treatment for Degenerative Eye Diseases Developed at Wayne State”
How Not to Name a Startup: The Curse of the Camel Case
What’s in a tech startup name? More specifically, is there a correlation between the type of name a company has and its success? That’s a question every startup founder and investor should be interested in. Because if there is a correlation, then using a name-based strategy for picking winners would be, well, about as good … Continue reading “How Not to Name a Startup: The Curse of the Camel Case”
Music Dealers Lands $2,180,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ac13d6b1-c3ff-4d20-a0c8-7b632ed8beeb&Preview=1 Date 12/22/2011 Company Name Music Dealers Mailing Address 328 S. Jefferson St Chicago, IL 60661 Company Description In the last year alone, Music Dealers has connected hundreds of music-makers to music-buyers, and put hundreds of thousands of dollars into the pockets of independent artists. Website http://www.musicdealers.com Transaction Type Venture Equity Transaction … Continue reading “Music Dealers Lands $2,180,000 Series B Financing”
TechShop Mines Detroit’s Innate DIY Culture With New Location
[Corrected on 12/30/11, 1:25 p.m. See below.] Roughly 18 months after Menlo Park, CA-based TechShop announced it was partnering with Ford on a new location in metro Detroit, the communal, membership-based DIY maker space is ready to welcome the public next week at an open house on Dec. 27. [Paragraph has been updated to reflect … Continue reading “TechShop Mines Detroit’s Innate DIY Culture With New Location”
Immigrants Fill Top Ranks of Venture-Backed Tech Startups
Immigrant entrepreneurs are playing important roles at U.S. technology startups, with immigrants serving in key management and product development positions at 37 of the top 50 venture-backed companies—or roughly three out of every four of the startups—according to a study released yesterday. “It’s clear that America gains a great deal when we’re open to talent, … Continue reading “Immigrants Fill Top Ranks of Venture-Backed Tech Startups”
The Move to Value-Based Pricing for Prescription Drugs
The standard marketing value equation taught in business school states value equals utility or benefits less costs. Because the relationship between the price of medicines and the value they deliver isn’t always clear, there are those who would argue that the established marketing value equation has not been universally applied by the pharmaceutical industry. The … Continue reading “The Move to Value-Based Pricing for Prescription Drugs”
Tolera Therapeutics Obtains $883,333 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0defd380-2152-4416-969a-8ffd543ad6fe&Preview=1 Date 12/21/2011 Company Name Tolera Therapeutics Mailing Address 350 E. Michigan Avenue Kalamazoo, MI 49007 Company Description Building upon research done at the University of Kentucky and the Cleveland Clinic, Tolera Therapeutics is developing and commercializing therapies for the immune suppression / modulation market with the goal of addressing unmet medical … Continue reading “Tolera Therapeutics Obtains $883,333 New Financing”
A123 Systems, NSTAR Partner on Grid Energy Storage Project
Waltham, MA-headquartered lithium-ion battery manufacturer A123 Systems, which has operations in Michigan, announced today that it is kicking off a pilot project with Boston-based NSTAR to study the benefits of employing the A123’s grid battery technology in a suburban electric grid. The system, NSTAR’s first battery energy storage project, is expected to be up and running in 2012 … Continue reading “A123 Systems, NSTAR Partner on Grid Energy Storage Project”
C.R. Bard Acquires Lutonix for $325,000,000
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3800a904-2604-4aa4-9622-dc8d1106a13c&Preview=1 Date 12/20/2011 Company Name Lutonix Mailing Address 7351 Kirkwood Lane North Maple Grove, MN 55369 Company Description The Vision of Lutonix is to improve the quality of life for patients with vascular disease through innovative solutions. The Mission of Lutonix is to rapidly develop and commercialize the safest and most efficacious … Continue reading “C.R. Bard Acquires Lutonix for $325,000,000”
Biofuels Firm Coskata, Backed by Boston VCs, Files for IPO
Here’s another data point for New England cleantech investors. Coskata, a Warrenville, IL-based developer of cellulosic ethanol, has filed paperwork for an initial public offering. The proposed maximum offering is $100 million, but as usual, that doesn’t mean much at this point. Coskata is backed by a couple of Boston-area venture firms—Advanced Technology Ventures and … Continue reading “Biofuels Firm Coskata, Backed by Boston VCs, Files for IPO”
Amgen CEO Kevin Sharer’s Report Card: C
Kevin Sharer will not go down in history as one of biotech’s most successful, or beloved, CEOs. But how well did Sharer really perform during his decade running the industry’s biggest company? For those who missed it, Thousand Oaks, CA-based Amgen (NASDAQ: [[ticker:AMGN]]) said last week that Sharer, 63, will be retiring as CEO in … Continue reading “Amgen CEO Kevin Sharer’s Report Card: C”
What Can Attending a Football Game Teach Technology Companies?
Let me state this right off the top: I’m a huge New England Patriots fan. Even though I’m now based on the West Coast, I make it a point to watch every Patriots game and I attend several games each season, making the cross-country trek to cheer on my team. It was on one of … Continue reading “What Can Attending a Football Game Teach Technology Companies?”
CardioInsight Technologies Lands $7,547,619 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d53d69c0-661e-4ee4-9c76-669d4ca13fe9&Preview=1 Date 12/19/2011 Company Name CardioInsight Technologies Mailing Address 11000 Cedar Avenue Cleveland, OH 44106 Company Description We are a medical device company in Cleveland, Ohio commercializing patented electrocardiographic imaging technology developed at Case Western Reserve University. Our technology noninvasively images electrical activity on the surface of the heart. Website http://www.cardioinsight.com Transaction … Continue reading “CardioInsight Technologies Lands $7,547,619 New Financing”
Fighting Crime with Technology: A Detroit Success Story
In Forbes magazine’s annual piece about America’s most dangerous cities, published in October, the article leads with an anecdote from Detroit. Detroit has been a mainstay on such lists for decades, and last year, it led the nation in violent crimes with with 345 murders and 1,111 violent crimes reported per 100,000 residents. According to … Continue reading “Fighting Crime with Technology: A Detroit Success Story”
How To Build a “Lifestyle Business” with 30M Visitors Per Month
In Silicon Valley, there is no more pejorative term than “lifestyle business.” It’s usually applied to companies that do well enough to earn their founders and employees a living—sometimes a very good living—but that will never make anyone mega-rich. Venture capital partners, who have to weed out all but the fastest-growing companies if they’re to … Continue reading “How To Build a “Lifestyle Business” with 30M Visitors Per Month”
Ford Plugs Focus Electric in SD Stop of Fuel-Efficiency Road Trip
There are about 25 million cars registered in California, and probably about 2 million of those are motoring around the roads of San Diego County. So it was statistically insignificant when I stepped out of the San Diego Automotive Museum today and counted at least six all-electric vehicles bathed in Southern California sunshine at the … Continue reading “Ford Plugs Focus Electric in SD Stop of Fuel-Efficiency Road Trip”
Updated Flud Platform Combines News Aggregation and Social Networking
According to Bobby Ghoshal, the future of news consumption is in finding new ways for users to interact with content and influence other users’ reading habits, and the development of online “news personalities.” Ghoshal is the co-founder and CEO of Flud, a news aggregation app that unveiled its updated platform for the iPhone and iPad earlier … Continue reading “Updated Flud Platform Combines News Aggregation and Social Networking”
Xconomist of the Week: Stefan Savage on Computer Security
The evolution of computer security is not merely some dark mirror, passively reflecting advances in technology. While technology provides new opportunities for threats, these become true dangers only when there is a motivation to exploit them and a means to do so. Stefan Savage, writing in The New York Times, Dec. 5, 2011. By his … Continue reading “Xconomist of the Week: Stefan Savage on Computer Security”
Montage Talent Obtains $3,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=62c6a036-5be1-4759-bce4-5082e4a1d447&Preview=1 Date 12/15/2011 Company Name Montage Talent Mailing Address 514 Wells Street Delafield, WI 53018 Company Description Montage Talent is led by recruitment industry innovators with expertise in talent acquisition, staffing and enterprise software. Website http://www.montagetalent.com Transaction Type Venture Equity Transaction Amount $3,000,000 Transaction Round Undisclosed Proceeds Purposes The proceeds will be … Continue reading “Montage Talent Obtains $3,000,000 New Financing Round”
Ann Arbor’s Everist Genomics Develops New Tests for Cancer Risk
There’s a long-held belief that, if caught early, colorectal cancer is almost always treatable through surgery alone. But according to Ann Arbor-based Everist Genomics, nearly one in three Stage 2 colon cancer patients who have surgery alone, without adding chemotherapy, will suffer a recurrence of their cancer. And more than 80 percent of those patients, Everist says, will … Continue reading “Ann Arbor’s Everist Genomics Develops New Tests for Cancer Risk”
Belly Garners $1,000,000 Seed Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9fc117c7-dde4-4411-a5eb-6d54ccb6bbcc&Preview=1 Date 12/14/2011 Company Name Belly Mailing Address Undisclosed Chicago, IL 60601 Company Description Belly is a universal loyalty program that customers can take with them anywhere! We’re spreading the love to your favorite places, enabling you to earn rewards wherever you go. Website http://www.bellycard.com Transaction Type Venture Equity Transaction Amount $1,000,000 … Continue reading “Belly Garners $1,000,000 Seed Funding”
Leaders of Entrepreneurial Programs From MI Universities Gather
Last Thursday and Friday, leaders of entrepreneurial studies programs from seven Michigan universities met in Lansing for the Michigan Entrepreneurship Leaders Forum, where they discussed what’s working in their individual programs, how they might be able to collaborate in the future, and how all of their efforts might help boost the state’s economy. “I’ve been … Continue reading “Leaders of Entrepreneurial Programs From MI Universities Gather”
Ifbyphone Secures $2,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=df7601c4-33ee-4b4d-a3e9-47f92b98dfe3&Preview=1 Date 12/13/2011 Company Name Ifbyphone Mailing Address 8800 Bronx Skokie, IL 60077 Company Description Ifbyphone is a hosted voice application and platform company with a simplified approach to the deployment of stand-alone and web-integrated voice services for small and medium sized businesses (SMB). Combining advanced telephony and web services, ifbyphone’s web-integrated … Continue reading “Ifbyphone Secures $2,000,000 New Financing Round”
Lakeside Software Opens New Location in Downtown Ann Arbor
Lakeside Software, the Bloomfield Hills, MI-based developer of business-intelligence solutions for IT professionals, recently announced it will open a new 3,800-square-foot R&D center above Vinology, on Main Street in downtown Ann Arbor. The move caps a decade of growth and is meant to take advantage of Ann Arbor’s proximity to the young professionals graduating from … Continue reading “Lakeside Software Opens New Location in Downtown Ann Arbor”
DVP-Backed Marxent Labs Wants to Augment Your Shopping Experience
Thanks to a $700,000 investment from Detroit Venture Partners, Detroit-based Marxent Labs launched its ShopWith.It app two weeks ago, right in time for the holidays. ShopWith.It allows consumers to scan product barcodes or take photos, then share and discuss those products with friends. “Most of us have a network of friends and family who are … Continue reading “DVP-Backed Marxent Labs Wants to Augment Your Shopping Experience”
Energy Subsidies: A Historical Perspective
As we turn the page on the year 2011, there is no shortage of topics about which the entire world seems to be debating. One that interests me the most is the renewed debate on the role of government in the energy sector, specifically in the United States. Budget shortages, deficit increases, front-page analysis of … Continue reading “Energy Subsidies: A Historical Perspective”
The Hepatitis C Market: Biotech’s Version of the Daytona 500
Biotech rivalries are sometimes a bit like boxing matches, where you have two lone fighters vying for the prize. But the hepatitis C market is turning into a battle royal that’s more wide open and unpredictable, with all the competitive maneuvering, surprise crashes, and comebacks you might expect from the Daytona 500. The medical advances … Continue reading “The Hepatitis C Market: Biotech’s Version of the Daytona 500”