In November, we began distributing $100 in Bitcoin to every undergraduate student at MIT. A large share of the 4,500 eligible students participated in the project. Bitcoin is an innovative payment network that allows for instant peer-to-peer transactions with zero or very low processing fees on a worldwide scale. The objective of the study is … Continue reading “Innovating with Bitcoin at MIT”
Category: National
East Coast Biotech Roundup: Unum, RaNA, Maxwell, Biogen, & More
Over the next few days, it’s all about blood cancer: biotechs will jostle for the limelight at American Society of Hematology’s annual meeting in San Francisco, which kicks off tomorrow morning. But in the meantime, a whole lot of cash was raised by local biotechs this week, including one East Coast company that went public, … Continue reading “East Coast Biotech Roundup: Unum, RaNA, Maxwell, Biogen, & More”
Innovation Hub: Are Entrepreneurs a Dying Breed?
It feels like every day, we hear another story of a 22-year-old who sold his app for millions. But the truth about entrepreneurs may be very different. In fact, if you look at the official data, entrepreneurship in the U.S. has been in decline for over thirty years. We talked to Ben Casselman, the chief … Continue reading “Innovation Hub: Are Entrepreneurs a Dying Breed?”
Norwest’s Edtech Play: Aim Straight For Consumers Needing Skills
Palo Alto, CA-based Norwest Venture Partners is one of the investment firms that are placing bets on educational technology, a fast-growing field that is transforming the way students learn, from kindergarten through college and beyond. I talked recently with Sergio Monsalve, one of the Norwest partners who is shepherding the firm’s edtech investments. In the … Continue reading “Norwest’s Edtech Play: Aim Straight For Consumers Needing Skills”
UW Startup Spectrom Tries to Bring Color to Desktop 3D Printing
If you believe industry insiders—and a considerable amount of media hype—desktop 3D printers are about to become the proverbial next big thing, as companies like MakerBot, 3D Systems, and Solidoodle find ways to create more reliable, user-friendly printers that consumers and most professional designers can afford. But while those companies duke it out for market … Continue reading “UW Startup Spectrom Tries to Bring Color to Desktop 3D Printing”
“Connect 3.0” Names San Diego’s Most Innovative Products of 2014
A security startup that detects anomalous cyber behavior and a life sciences company that makes 3D liver tissue for use in drug toxicity testing were among eight San Diego companies that won engraved Lucite trophies last night for the most innovative products of 2014. The awards were handed out by Connect, the San Diego nonprofit … Continue reading ““Connect 3.0” Names San Diego’s Most Innovative Products of 2014”
Houston Venture Capital Firm Mercury Fund Closes $105M Third Fund
Houston’s Mercury Fund has raised its third fund, totaling $105 million in commitments. The closing of Mercury Fund III, which made its first investment in October 2013 and its last a year later, brings the firm’s total capital under management to more than $200 million. This latest fund will make initial investments of between $100,000 … Continue reading “Houston Venture Capital Firm Mercury Fund Closes $105M Third Fund”
Update: Paul Allen’s Artificial Intelligence Push, Research Grants
Researchers at the Allen Institute for Artificial Intelligence (AI2), led by CEO Oren Etzioni, recently scored a D on a fourth-grade science test—a notable accomplishment in the field. OK, it was actually their flagship artificial intelligence effort, Project Aristo, which combines leading-edge technologies in machine reading, reasoning, and something approaching common sense to tackle progressively … Continue reading “Update: Paul Allen’s Artificial Intelligence Push, Research Grants”
Small Wind Company Altaeros Snags $7M from SoftBank
It’s not every day that a wind energy startup attracts investment from a telecom company, but that’s exactly how Altaeros Energies financed its Series A round. Altaeros said today that Japan-based telecom company SoftBank invested $7 million in the Somerville, MA-based wind company. The money, the startup’s first institutional round, will be used to bring … Continue reading “Small Wind Company Altaeros Snags $7M from SoftBank”
Formlabs to Pay 8 Percent of Net Sales in Patent Lawsuit Settlement
Formlabs, a 3D printer startup that makes high-end devices targeted at professional designers, has agreed to pay 8 percent of its net sales to much larger competitor 3D Systems in order to settle a patent lawsuit. Details of the two companies’ financial deal were not revealed in the court filings dismissing the patent lawsuit earlier this week. But a new 3D Systems filing … Continue reading “Formlabs to Pay 8 Percent of Net Sales in Patent Lawsuit Settlement”
West Coast Biotech Roundup: Amgen, Ariosa, Avanir, Audentes & More
Where is biotech innovation? All over, we would contend, but according to The Scientist magazine, San Diego has been an especially good place to look this year. The publication listed its top 10 life science innovations of 2014, and five are from San Diego companies. Fifty percent. It might have helped that 40 percent of … Continue reading “West Coast Biotech Roundup: Amgen, Ariosa, Avanir, Audentes & More”
Array and Novartis End Development Deal for Cancer Drug Binimetinib
Drug developer Array BioPharma and pharmaceutical giant Novartis are going separate ways, but that doesn’t seem to be bad news for Boulder, CO-based Array. The companies announced Wednesday they have terminated their agreement to jointly develop and market binimetinib, a drug candidate initially developed by Array to treat melanoma and ovarian cancer. While such a … Continue reading “Array and Novartis End Development Deal for Cancer Drug Binimetinib”
Foley Ventures Raises $2.1M For Third Venture Fund
Foley Ventures, the investment arm of national law firm Foley & Lardner, has raised $2.1 million for its third fund, according to a new SEC filing. It’s a small amount of money, but it adds to the mix of funding options for startups in Wisconsin and elsewhere. Foley has 17 law offices in the U.S., … Continue reading “Foley Ventures Raises $2.1M For Third Venture Fund”
Xfund Closes $100M Fund as Venture Firms and Universities Get Cozier
[Updated, 1:05pm] Big universities are trying to figure out this venture capital thing. Should they form partnerships with specific venture firms? Should they start their own funds and incubators? How best to do that? The latest exhibit is the venture firm Xfund (originally called Experiment Fund), which is affiliated with Harvard University and says it … Continue reading “Xfund Closes $100M Fund as Venture Firms and Universities Get Cozier”
Start Houston, Presidio Unveil New Network to Fund Local Tech Startups
Start Houston, a co-working space, is going beyond demo days and other events to support the city’s tech startups: Now it’s going to invest money in them. Start has partnered with Presidio Venture Capital, also in Houston, to create the Start Investment Network, which will make seed investments of between $25,000 to $50,000 in Houston … Continue reading “Start Houston, Presidio Unveil New Network to Fund Local Tech Startups”
Epidemics, Inequality, and Narcissism: Tech Agenda 2015 Highlights
If you were at the Fidelity Center for Applied Technology on Tuesday afternoon, you were in for a treat. Xconomy’s Tech Agenda 2015 conference hit on some of the most important trends to watch for in the coming year—across industries as diverse as robotics, security, e-commerce, venture capital, and big data. And from perspectives that … Continue reading “Epidemics, Inequality, and Narcissism: Tech Agenda 2015 Highlights”
GSK Restructuring Slashes R&D; RTP to Take Brunt of Cuts
The contingent of researchers in North Carolina’s Research Triangle Park is set to get smaller as Britain-based GlaxoSmithKline (NYSE: [[ticker:GSK]]), one of the Park’s largest tenants, consolidates R&D operations. The move is part of a corporate restructuring that will eliminate some 900 research positions in the Park alone. GSK announced details of the restructuring and … Continue reading “GSK Restructuring Slashes R&D; RTP to Take Brunt of Cuts”
Fast-Growing Maxwell Nets $26M More to Manage Your Healthcare
Two years ago, Maxwell Health started up with 12 employees and a plan to make benefits enrollment more user-friendly than the mind-numbing, paper-wasting process it typically is. Now, the Boston-based company has 70 employees and counting in several cities and barely resembles its former self. It aims to be, essentially, the go-to operating system for … Continue reading “Fast-Growing Maxwell Nets $26M More to Manage Your Healthcare”
An Xconomy Analysis: Five Ideas to Boost San Diego’s Software Sector
Like a lot of cities, San Diego is jealous of Silicon Valley. Not jealous of Silicon Valley as a place, but jealous of the tech innovation and startup activity that happens there. As ServiceNow (NYSE: [[ticker:NOW]]) CEO Frank Slootman said earlier this year, the Bay Area is “one beehive of talent that is constantly reconstituting … Continue reading “An Xconomy Analysis: Five Ideas to Boost San Diego’s Software Sector”
Rachel Haot Revisits NY Tech Meetup, Talks State’s Innovation Plans
Last night, Rachel Haot returned to the New York Tech Meetup stage for the first time since becoming Gov. Andrew Cuomo’s chief digital officer and deputy secretary of technology. Before the evening’s scheduled monthly demos of technology and ideas began (see slideshow above), Haot talked up ways Cuomo’s administration wants to collaborate more with the … Continue reading “Rachel Haot Revisits NY Tech Meetup, Talks State’s Innovation Plans”
Detroit’s Rockbridge Acquires Robb Report, Plans Digital Expansion
In most people’s minds, the words “luxury” and “Detroit” don’t immediately go together, but that could change soon: Rockbridge Growth Equity, a private equity firm founded by Dan Gilbert, has acquired Robb Report, arguably the world’s best-known lifestyle magazine dedicated to people for whom money is no object. The terms of the deal were not disclosed. … Continue reading “Detroit’s Rockbridge Acquires Robb Report, Plans Digital Expansion”
Drone Makers Worry FAA Rules Will Quash Industry
Having a drone deliver a package to your doorstep minutes after ordering it online would bring instant gratification to a new level. But there’s a problem: that and many other commercial uses of drones are illegal in the U.S. under current regulations. The Federal Aviation Administration (FAA) is working on rules to govern the use … Continue reading “Drone Makers Worry FAA Rules Will Quash Industry”
Can Data Visualization and Analytics Solve Detroit’s Transit Woes?
There’s a sign above the entrance to the Detroit Department of Transportation (DDOT) building that says, “Through These Doors Pass Transit’s Best.” But ask any regular rider of Detroit’s city bus system how DDOT is functioning, and they would likely disagree with that optimistic motto. Detroit’s transit system has long had the reputation of being … Continue reading “Can Data Visualization and Analytics Solve Detroit’s Transit Woes?”
Boulder’s TeamSnap Acquires Mobile App, Keeps on Growing
TeamSnap has just snapped up another rival and is adding about 30,000 users to its roster. The Boulder, CO-based startup makes software that sports teams, recreational leagues, and activity groups can use to create and manage rosters, coordinate schedules, track stats, inform players of schedule changes, and now track their team’s live scores and chat … Continue reading “Boulder’s TeamSnap Acquires Mobile App, Keeps on Growing”
Texas Cancer Center Seeks to Speed Discovery with Applied Research
To commercialize more discoveries from biomedical research labs, professionals in life sciences should take a cue from the physical sciences, where engineers convert basic science into real-world products. So says, Lynda Chin, chair of the department of genomic medicine at the University of Texas MD Anderson Cancer Center in Houston, which hosts the Institute for … Continue reading “Texas Cancer Center Seeks to Speed Discovery with Applied Research”
ThinkingPhones Calls Up $56M to Unify Communications in the Mobile Age
The world of business communications is changing fast with the proliferation of mobile devices, cloud-based software, and video systems. One Boston-area company has been evolving with those trends, and now it has a lot more money to expand. Cambridge, MA-based Thinking Phone Networks has raised $56.7 million in a Series D financing led by Technology … Continue reading “ThinkingPhones Calls Up $56M to Unify Communications in the Mobile Age”
Milwaukee Energy Incubator Channels Manufacturing Past to Power Future
Milwaukee has made efforts over the past several years to establish itself as a global hub for water technology, a push that gained momentum last year with the opening of The Water Council’s Global Water Center and the launch of a water tech startup accelerator there. Now, a coalition of big companies, academic researchers, and … Continue reading “Milwaukee Energy Incubator Channels Manufacturing Past to Power Future”
Inslee, Jackson, and New Report on Washington’s STEM Skills Shortfall
Washington state has a well-known mismatch between the tech industry’s demand for workers and the state education system’s ability to provide them. A new report released Tuesday at the Washington STEM (Science, Technology, Engineering, and Mathematics) Summit points to the causes and potential solutions to that mismatch, and Washington Gov. Jay Inslee said solving the … Continue reading “Inslee, Jackson, and New Report on Washington’s STEM Skills Shortfall”
With Crossover Cash, Seres Health Aims For Big Microbiome Milestones
Seres Health of Cambridge, MA, announced two big steps Tuesday. First, it says it has raised $48 million in a Series C round from public investors, which is often a sign among biotech companies that a push toward an IPO is on the horizon. If indeed that is the company’s intent—as CEO Roger Pomerantz (pictured) … Continue reading “With Crossover Cash, Seres Health Aims For Big Microbiome Milestones”
“Innovation at Biotech’s Epicenter,” Dec. 17: Check Out the Agenda
We’re less than one month away from our annual biotech event in San Francisco. This year, it’s called Xconomy Forum: Innovation at Biotech’s Epicenter, and we’re gathering December 17 in the Mission Bay neighborhood to talk about the emerging science, unique geography, and risk-taking strategies that will spur the Bay Area’s biomedical innovation for the … Continue reading ““Innovation at Biotech’s Epicenter,” Dec. 17: Check Out the Agenda”
Roche Enters Noninvasive Prenatal Test Market With Ariosa Purchase
Eyeing the biotech IPO boom earlier this year, Ariosa Diagnostics planned to go public as it battled larger competitors in the prenatal testing field. But the San Jose, CA-based company backed off in late April, and that was its last chance. Multinational healthcare firm Roche has bought Ariosa for an undisclosed amount, the companies announced … Continue reading “Roche Enters Noninvasive Prenatal Test Market With Ariosa Purchase”
Tripda Makes a Play for the Road Trip Ridesharing Market
Have we been looking at the ridesharing scene from the wrong angle? The team at Tripda thinks so. Rather than go after the for-hire car service market with aggressive players such as Uber, Tripda in New York focused their attention on simply connecting folks who want to share costs on road trips. Listing a planned … Continue reading “Tripda Makes a Play for the Road Trip Ridesharing Market”
Desalitech Builds on Boston-Area Water Tech Cluster With $11M Funding
When Governor Deval Patrick leaves office at the end of the year, he will be remembered for fostering the growth of Massachusetts’ life sciences and energy technology industries. Less known is a fledgling water technology cluster, which also received a hand from the Patrick administration. One company in the state’s water cluster—Newton, MA-based Desalitech—today announced … Continue reading “Desalitech Builds on Boston-Area Water Tech Cluster With $11M Funding”
Mobile-First Comes to Daily Fantasy Sports Games, With Draft
Coming off the Thanksgiving weekend of football action, it’s a good time to look at the future of online fantasy sports. Two tech companies, DraftKings and FanDuel, own the vast majority of the daily-game market, where people bet real money on the performance of athletes they choose for their “teams.” But there’s still room in … Continue reading “Mobile-First Comes to Daily Fantasy Sports Games, With Draft”
Startups in the ‘Burbs: TechSandBox Plans Accelerator Outside 128
Despite all the startup accelerators and education programs out there, it’s hard to name any in the suburbs that target an older, more experienced demographic. That could be about to change. TechSandBox, a year-old co-working space in Hopkinton, MA, is making plans to start an accelerator program that would admit about eight companies and provide … Continue reading “Startups in the ‘Burbs: TechSandBox Plans Accelerator Outside 128”
TX Roundup: Need, Experiment Engine, Bigcommerce, Bellicum, CS Disco
Over your turkey-weekend hangover? Let’s set the table with the latest innovation news in Texas, including new money raised, expansions, and the filing of the first IPO for a Houston biotech company in 14 years. —Need, a Dallas-based e-retailer, is getting a little brother. Matt Alexander, Need’s CEO and founder, told me about plans for … Continue reading “TX Roundup: Need, Experiment Engine, Bigcommerce, Bellicum, CS Disco”
SendGrid Raises $20M, Plots New Strategy for New Markets
The past two months have been busy ones for SendGrid and its new CEO Sameer Dholakia, who joined the company in September. The Boulder-based company announced today it has raised a $20 million Series C round and landed Bain Capital Ventures as a new investor. SendGrid makes cloud-based software that customers use to deliver e-mail … Continue reading “SendGrid Raises $20M, Plots New Strategy for New Markets”
More Biotechs Belly-Up These Days but Dendreon Still “One of a Kind”
Biotech companies rarely go bankrupt. Sitting where I sit, that bit of conventional wisdom comes around every so often, although it doesn’t generate quite the same buzz as Halley’s Comet or a wardrobe malfunction. Bankruptcy just doesn’t get America jawing over the water cooler on Monday morning. (I can’t imagine why.) If your cooler is … Continue reading “More Biotechs Belly-Up These Days but Dendreon Still “One of a Kind””
Socrata Opening More Government Data with $30M from Sapphire Ventures, Others
Socrata, the Seattle company making a cloud-based software platform for accessing government data, has raised an additional $30 million in a Series C round led by new investor Sapphire Ventures. Earlier investors OpenView Venture Partners, Morganthaler Ventures, and Frazier Technology Ventures also participated. Socrata, founded in 2007, has now raised $55 million. Jai Das, managing … Continue reading “Socrata Opening More Government Data with $30M from Sapphire Ventures, Others”
Veniam Wants to Build a Smart City One WiFi Bus at a Time
What if municipal WiFi wasn’t provided by the Googles of the world, but by the city transit authority? Using technology from startup Veniam, city-wide WiFi could come from a fleet of moving vehicles. Mountain View, CA-based Veniam on Monday is announcing a $4.9 million Series A round to fund its expansion in the U.S. The … Continue reading “Veniam Wants to Build a Smart City One WiFi Bus at a Time”
Prescription Drug Pricing: The Fine Line Between Value and Greed
Value. It’s one of the most frequently used buzzwords on both Wall Street and in healthcare. Virtually every press release from a publicly traded company assures us that its latest acquisition/layoff/tax inversion/sale of assets was designed “to increase shareholder value.” But what exactly is “value” and how is it measured? Here are some definitions from … Continue reading “Prescription Drug Pricing: The Fine Line Between Value and Greed”
Boston City Council Looks for Fees, Numbers from Uber & Lyft
Mobile-tech startups Uber and Lyft have been operating “ridesharing” services illegally in Boston since 2013. City officials say they’re ready to end that run, but they’re hoping to incorporate the popular car-for-hire apps into existing taxi regulations instead of simply shutting them down. It will probably come with a price, and more transparency about the … Continue reading “Boston City Council Looks for Fees, Numbers from Uber & Lyft”
MSU, U-M Partner to Teach Kids About Genomics, Diversity, STEM Careers
Michigan State University and the University of Michigan will partner on a new program to teach middle schoolers in Detroit and Flint about genomics and evolution in the hopes that it will promote diversity and encourage students of color to pursue a career in science. The five-year program, which is being funded through a $1.2 … Continue reading “MSU, U-M Partner to Teach Kids About Genomics, Diversity, STEM Careers”
Pozen, Sanofi Terminate Drug Pact Ahead of FDA Approval Decision
Pozen (NASDAQ: [[ticker:POZN]]) is once again hunting for a drug commercialization partner just 15 months after Sanofi (NYSE: [[ticker:SNY]]) agreed to bring the company’s cardiovascular disease drug to market. Pozen’s announcement Monday that its partnership with Sanofi has been terminated comes less than a month before a scheduled Food and Drug Administration decision on whether … Continue reading “Pozen, Sanofi Terminate Drug Pact Ahead of FDA Approval Decision”
Wisconsin Roundup: Gener8tor, Phoenix Nuclear Labs, Solaris, & More
The holiday season is upon us, but there’s been no shortage of news from Wisconsin’s technology and innovation sector. It’s time to catch up on the latest announcements: —Gener8tor, the startup accelerator that holds programs in Madison and Milwaukee, has raised more than $2.1 million for its second seed capital fund. Investors include Milwaukee-based CSA … Continue reading “Wisconsin Roundup: Gener8tor, Phoenix Nuclear Labs, Solaris, & More”
With Souped-Up Rituxan, Unum Plots First Foray Into T-Cell Therapy
Unum Therapeutics emerged from stealth a few weeks ago with its own twist on the increasingly crowded field of cellular immunotherapy. Today the Cambridge, MA-based company is disclosing more details, not the least of which is that the technology is ready to be tested in patients. Any cell-based immunotherapy effort is bound to attract attention … Continue reading “With Souped-Up Rituxan, Unum Plots First Foray Into T-Cell Therapy”
After Unlikely Idenix Sale, Renaud Jumps to RaNA to Outfox Junk DNA
When Ronald Renaud sold the company he was leading, Idenix Pharmaceuticals, to Merck for $3.85 billion six months ago, it was one of biotech’s more unexpected recent turnarounds. In 2012, the FDA had halted two of Idenix’s two most advanced drug prospects in the ultra-competitive hepatitis C space, and rivals were moving ahead full steam. … Continue reading “After Unlikely Idenix Sale, Renaud Jumps to RaNA to Outfox Junk DNA”
Analysis: After a Boom-and-Bust Era, More Modest Growth at Polaris
Polaris Partners’ latest venture fund, announced last week at $450 million, looks like a solid reward from its investors after a string of initial public offerings for its portfolio companies. But that reward is noticeably smaller than it might have been a generation ago, when Polaris had early success and was supplied with a huge … Continue reading “Analysis: After a Boom-and-Bust Era, More Modest Growth at Polaris”
Web Companies Create Marketing Hubs for Indie Writers, Artists
The Bay area is a hotbed for creative types, and it’s also home to a number of Web-based companies that connect writers, book authors, and photographers with potential readers and customers. A flurry of news came out about these companies early this week. San Francisco-based Scripted announced that it has raised a $9 million Series … Continue reading “Web Companies Create Marketing Hubs for Indie Writers, Artists”
Dallas E-Retailer Need to Expand With Foremost, Plans to Raise Funds
Black Friday is just days away and Matt Alexander, founder and CEO of e-commerce site Need, says he’s not only ready for the onslaught of holiday shoppers, he’s busy hatching a retail sibling. Alexander plans to unveil the new site, Foremost, at the Sundance Film Festival in January. Foremost will offer lower-priced clothing to cater … Continue reading “Dallas E-Retailer Need to Expand With Foremost, Plans to Raise Funds”