Here are four key elements that people here in Michigan should think about as we seek to create a thriving hub of innovation and entrepreneurship: 1. Management: Michigan needs be more attractive for startup management to live and work. The state should work aggressively to lure top management talent to Michigan. 2. Investors: While Michigan … Continue reading “Four Key Ingredients Needed to Spark Innovation in Michigan”
Category: National
ALTe’s New Factory Helps Give Michigan a Future Beyond Batteries
ALTe, an Auburn Hills, MI-based developer of electric propulsion systems, knows that if the future of the automobile is truly hybrid and electric, then a great deal more than just the battery is going to have to change. And while state government tax incentive policy, and news media reports, have emphasized automotive batteries, just as … Continue reading “ALTe’s New Factory Helps Give Michigan a Future Beyond Batteries”
How Sharing Increases Innovation
I believe there is a strong tie between sharing and the ability to innovate. This post will walk you through the logic. Innovation is built on these things: 1. The existence of problems and the desire to solve them 2. The ability to apply new ways of thinking to these problems 3. The cost of … Continue reading “How Sharing Increases Innovation”
Awesome Foundation, Spreading Awesomeness Across the Universe, Expands to West Coast
For Boston-area Web developers, the place to be last Friday night was the Barron Building at 614 Massachusetts Avenue in Central Square. Home to Conduit Labs, Oneforty, Shareaholic, and several other Web startups, it’s become the newest pin in Boston’s entrepreneurship map. On Friday, it was the scene of a rollicking joint housewarming party for … Continue reading “Awesome Foundation, Spreading Awesomeness Across the Universe, Expands to West Coast”
Twitter Buys Seattle’s Cloudhopper to Expand SMS Service Globally: The Story Behind the Deal
It’s an exciting day for Joe Lauer. The Seattle entrepreneur and founder of Cloudhopper, a mobile messaging service, just told me his startup has been acquired by Twitter, the micro-messaging giant based in San Francisco. Financial terms of the cash-and-stock deal weren’t released, but Lauer and fellow employee Kristin Kanaar have joined Twitter full-time. Lauer … Continue reading “Twitter Buys Seattle’s Cloudhopper to Expand SMS Service Globally: The Story Behind the Deal”
Small Explosion, Evacuation at E Ink
A small explosion at E Ink forced an evacuation of the company’s Cambridge, MA, offices and manufacturing facilities near Fresh Pond this afternoon. No injuries were reported, but employees have been sent home for the weekend as the company deals with water damage from the building’s sprinkler system. The company said in a statement released … Continue reading “Small Explosion, Evacuation at E Ink”
Athenahealth’s Ed Park and Media Lab’s John Moore Join Lineup for Monday’s “Healthcare in Transition” Xconomy Forum; Few Tickets Remain
The question of how we pay for healthcare has been under the microscope in recent months, but what can we do to radically improve the care itself? Examining how information technology can help with that challenge is the whole point of Xconomy’s Healthcare in Transition forum, which will be held on Monday afternoon at the … Continue reading “Athenahealth’s Ed Park and Media Lab’s John Moore Join Lineup for Monday’s “Healthcare in Transition” Xconomy Forum; Few Tickets Remain”
Mascoma Collects $3.4M in Debt Round
Mascoma, the Lebanon, NH-based developer of advanced methods for making ethanol from wood fiber and other non-edible plant matter, has raised $3.4 million toward a $10 million round of convertible debt financing, according to regulatory documents filed April 21. The funding presumably puts the company in stronger position to move forward with construction of an … Continue reading “Mascoma Collects $3.4M in Debt Round”
Connect Inducts Software Pioneer Peter Preuss to Entrepreneurial Hall of Fame
Connect, San Diego’s non-profit group for technology innovation, officially inducted software industry pioneer Peter Preuss into its Entrepreneurial Hall of Fame during a luncheon yesterday that recounted his life story—from a nerd growing up in postwar Berlin to a successful technology entrepreneur and prominent patron of both education and cancer research. Preuss is the eighth … Continue reading “Connect Inducts Software Pioneer Peter Preuss to Entrepreneurial Hall of Fame”
Creating a Virtual 3-D World: Inside PhotoCity from UW and Cornell
[Updated 3:30 pm, 4/23/10. See below] Zoran Popovic, a computer scientist at the University of Washington, is constructing 3-D virtual recreations of real life. First step, the UW campus; next, the whole world. Building on a previous program called Photo Tourism that pieces together photos culled from Flickr into virtual 3-D models, PhotoCity is a … Continue reading “Creating a Virtual 3-D World: Inside PhotoCity from UW and Cornell”
TechTown’s New $5M Fund Only a Baby Step for FastTrac Entrepreneurs
Don’t get Randal Charlton wrong. The executive director at the TechTown business incubator in Detroit is thankful for a recent announcement of $5 million coming his way to help graduates of his FastTrac business training program launch their companies. But, he says, look at it this way: The money, granted by the New Economy Initiative, … Continue reading “TechTown’s New $5M Fund Only a Baby Step for FastTrac Entrepreneurs”
Dodd Bill Update: Listening to the Market
Like an entrepreneur listening to market feedback while designing a product, Senator Christopher Dodd (D-Conn) has made some improvements to features of his pending legislation that we described last month. Originally designed to fight the “too big to fail” problem in the financial markets, many constituents—including the Angel Capital Association and the National Venture Capital … Continue reading “Dodd Bill Update: Listening to the Market”
San Diego’s Cibus Inks Deal with Flax Growers Eager to Avoid GMO Flak
San Diego’s Cibus Global is uniting with Canada’s flax growers to develop a crop strain resistant to glyphosate, the active ingredient in the widely used weed killer Roundup. Flax, also known as linseed, is a major crop grown for both its seeds and fibers, with various parts of the plant used to make linen and … Continue reading “San Diego’s Cibus Inks Deal with Flax Growers Eager to Avoid GMO Flak”
Detroit: America’s Laboratory for Innovation
What the heck is Xconomy doing opening a bureau in Detroit? The same thing we’ve been doing all along: seeking out technology innovators in key cities and chronicling the work they’re doing to turn their ideas into businesses that will drive the economy forward, both regionally and nationally. There’s no question that Detroit falls short … Continue reading “Detroit: America’s Laboratory for Innovation”
Hold On To Your Brightest Young People, Michigan
I don’t have five pithy things to tell entrepreneurs in Michigan, but I do have one comment based on my 16 years in Ann Arbor trying to help commercialize biotech/medtech innovations at the University of Michigan. Do everything possible to keep your young in Michigan. The three research universities in Michigan, U-M, Michigan State University, … Continue reading “Hold On To Your Brightest Young People, Michigan”
Michigan Governor: Create Clean Energy Jobs to Compete for $20M in Stimulus Funds
Michigan Gov. Jennifer Granholm is making $20 million in federal stimulus funds available to Michigan manufacturers who want to diversify, retool, and create jobs in clean energy. Granholm announced the Recovery Act funding Wednesday at the Michigan Wind Energy Conference in Detroit. The governor said that Michigan companies can compete for $15 million in grants … Continue reading “Michigan Governor: Create Clean Energy Jobs to Compete for $20M in Stimulus Funds”
San Diego’s Place in the Sun: Getting Smarter About Energy, Starting June 8
Today is the 40th anniversary of Earth Day in the United States, an occasion that is now observed by just about every country on the planet. Within the past four decades, we have witnessed the price of crude oil careen from about $3 a barrel in the early 1970s to almost $148 a barrel in … Continue reading “San Diego’s Place in the Sun: Getting Smarter About Energy, Starting June 8”
Technology Alliance Showcases Five Companies in Sensors, Mobile Displays, and Drug Therapies: Investors Take Notice
Yesterday afternoon, I attended the Seattle-based Technology Alliance’s “Innovation Showcase” at the Rainier Square Conference Center downtown. This is a relatively new event—the fourth one so far, and the first open to the press—in which tech and life sciences companies from Washington state pitch their businesses to a small, select crowd of angel investors, entrepreneurs, … Continue reading “Technology Alliance Showcases Five Companies in Sensors, Mobile Displays, and Drug Therapies: Investors Take Notice”
The XSITEment Returns on June 17 at Babson College—X Prize Founder Diamandis to Keynote Xconomy Summit
Most Xconomy events last only an afternoon or an evening. Barely enough time, in other words, to scratch the surface of all the amazing work technology entrepreneurs are doing around New England, in areas as varied as cloud computing, health IT, mobile commerce, smart grid technology, and the future of drug development. But our flagship … Continue reading “The XSITEment Returns on June 17 at Babson College—X Prize Founder Diamandis to Keynote Xconomy Summit”
Aragon Pharmaceuticals Moves to First Clinical Trial with $22M
Venture capitalists are placing a big bet on a San Diego startup’s new approach to treating cancers by targeting certain hormones. Aragon Pharmaceuticals reports this morning that it plans to use $22 million raised in its Series B round of funding to advance its lead drug for prostate cancer into an initial clinical trial. Aragon, … Continue reading “Aragon Pharmaceuticals Moves to First Clinical Trial with $22M”
Anadys Reports Interim Hep C Drug Data, Ligand Collects Milestone Payment, Phenomix’s Diabetes Drug Shows Promise, & More San Diego Life Sciences News
Progress on the drug development front dominated the headlines in the past week, although one company, Phenomix, also had some bad news. Get those details and more here. —Phenomix announced that diabetic patients who took its experimental drug dutogliptin in a clinical trial saw statistically significant drops in their blood sugar. But the company is … Continue reading “Anadys Reports Interim Hep C Drug Data, Ligand Collects Milestone Payment, Phenomix’s Diabetes Drug Shows Promise, & More San Diego Life Sciences News”
Sirtris Vet Michelle Dipp Takes Over Key Role at Glaxo as Westphal Returns to VC
From the moment GlaxoSmithKline acquired Cambridge, MA-based Sirtris Pharmaceuticals about two years ago for $720 million, the pharma giant said it wanted two of Sirtris’ principals, Christoph Westphal and Michelle Dipp, to help it connect with some of the best people and biotech ideas in Boston. That’s still true today, although the specific roles for … Continue reading “Sirtris Vet Michelle Dipp Takes Over Key Role at Glaxo as Westphal Returns to VC”
Obesity Capsule From Gelesis, Made to Swell Up in the Stomach, Passes First Human Trial
There must be a million ideas to help the many millions of obese Americans lose weight. Today, doctors will get a glimpse at a first-of-its-kind treatment from Boston-based Gelesis, where scientists have created a capsule that expands in the stomach to make people feel full and eat less. Gelesis has said little about this idea … Continue reading “Obesity Capsule From Gelesis, Made to Swell Up in the Stomach, Passes First Human Trial”
AVI Biopharma Ousts CEO, CombiMatrix Drops Seattle Wing, Cell Therapeutics Cans 36 Workers, & More Seattle-Area Life Sciences News
There was more than the usual amount of carnage this week on the Seattle biotech beat. —AVI Biopharma (NASDAQ: [[ticker:AVII]]) ousted CEO Les Hudson as part of a boardroom coup. The board installed chief financial officer David Boyle as the interim CEO, and a company spokesman says Boyle has the board’s confidence and is a … Continue reading “AVI Biopharma Ousts CEO, CombiMatrix Drops Seattle Wing, Cell Therapeutics Cans 36 Workers, & More Seattle-Area Life Sciences News”
Refined Innovation: A New Approach to Investing
It’s obvious that the financial downturn has negatively impacted innovation. Lack of investment has meant fewer startups, and lack of capital for liquidity events and exits has pushed a listless market into even greater torpor. Overall, the downward pressure is preventing a lot of great new ideas and technological advances from getting off the ground. … Continue reading “Refined Innovation: A New Approach to Investing”
Five Ways to Boost Entrepreneurship and Innovation in Michigan
[Editor’s note: To help launch Xconomy Detroit, we’ve queried our network of Xconomists and other innovation leaders around the country for their list of the most important things that entrepreneurs and innovators in Michigan can do to reinvigorate their regional economy.] 1) Create great technologies 2) Bring more venture capital into the region 3) Get … Continue reading “Five Ways to Boost Entrepreneurship and Innovation in Michigan”
Delphi Eager to Leave Bankruptcy Behind, Build Connections to Auto Industry’s Future
Auto parts manufacturer Delphi has a simple description of what it’s been up to during these past four years of bankruptcy reorganization. “We’ve been quiet, but we’ve been busy,” says Jeffrey Owens, president of Delphi’s electronics and safety division. The recent Society of Automotive Engineers (SAE) World Congress in Detroit was a kind of coming-out … Continue reading “Delphi Eager to Leave Bankruptcy Behind, Build Connections to Auto Industry’s Future”
Boston Opens Its Arms to UK Mobile Startups
After spending some time last week at the launch of Mass Challenge, I wanted to share a few thoughts on recent experiences with the local innovation community, for two reasons: First, I hope they might spur further collaboration between UK Trade & Investment and the Boston tech community given some recent successes. And second, given … Continue reading “Boston Opens Its Arms to UK Mobile Startups”
OpenCandy Gets $5M in Round Led by Google Ventures
OpenCandy co-founder Darrius Thompson confirms in an e-mail that the San Diego-based startup, which operates a kind of online marketplace for open-source software, just raised $5 million in a series B round of venture funding, which was reported today by TechCrunch. The new $5 million round was led by Google Ventures, and in a winking … Continue reading “OpenCandy Gets $5M in Round Led by Google Ventures”
Genzyme Expects $175M Expense for Manufacturing Problems in Allston
Genzyme has given its first-quarter 2010 earnings a $175 million haircut. The Cambridge, MA-based biotech firm (NASDAQ:[[ticker:GENZ]]) said today that it expects to pay that amount to the FDA due to deficiencies at its manufacturing plant in Allston, MA. The company and the FDA are negotiating terms of a consent decree, under which the firm … Continue reading “Genzyme Expects $175M Expense for Manufacturing Problems in Allston”
UW Prof Shwetak Patel’s Energy Startup, Zensi, Bought by Belkin
Zensi, an energy monitoring startup co-founded by University of Washington assistant professor Shwetak Patel, has been acquired by Belkin, the computer hardware and wireless company based in the Los Angeles area. Financial terms of the cash deal weren’t given. The news was reported earlier today by CNET. Patel co-founded Zensi in 2008 while he was … Continue reading “UW Prof Shwetak Patel’s Energy Startup, Zensi, Bought by Belkin”
Christoph Westphal Resigns as Sirtris CEO, Takes Over Glaxo’s SR One Venture Arm
Christoph Westphal is leaving his CEO job at Sirtris Pharmaceuticals, the Cambridge, MA-based developer of drugs that target genes linked to the aging process, to get back into the venture capital game, according to an e-mail Westphal sent to friends and colleagues as well as Xconomy. Westphal says in his note that he is taking … Continue reading “Christoph Westphal Resigns as Sirtris CEO, Takes Over Glaxo’s SR One Venture Arm”
Bill Gates Pushes His Foundation’s Health, Education, Energy Agenda at MIT—Podcast and Report
Microsoft founder and chairman Bill Gates visited MIT today as part of his College Tour, a three-day trip to universities across the United States. In his talk, Gates emphasized the importance of getting more bright young people to innovate in critical areas such as global health, education, and energy—all areas where the Bill and Melinda … Continue reading “Bill Gates Pushes His Foundation’s Health, Education, Energy Agenda at MIT—Podcast and Report”
The Xconomists Reach Out to Detroit
One of Xconomy’s unique strengths is our network of Xconomists, leaders in the worlds of innovation and entrepreneurship who have accepted our invitation to act as occasional guest bloggers, story sources, and informal editorial advisers. We’re proud to count 61 Xconomists in Boston (our original home base), 50 in Seattle, 42 in San Diego, and … Continue reading “The Xconomists Reach Out to Detroit”
AVI Biopharma Ousts CEO Les Hudson in Boardroom Coup
[Update: 11 am Pacific] AVI Biopharma CEO Les Hudson has been ousted as part of a boardroom shakeup. The Bothell, WA-based biotech company (NASDAQ: [[ticker:AVII]]) said today that chief financial officer David Boyle will take his place as interim president and CEO through an agreement with activist shareholders. AVI Biopharma director K. Michael Forrest is … Continue reading “AVI Biopharma Ousts CEO Les Hudson in Boardroom Coup”
Sylvia Pagán Westphal Takes the Pulse of Life Sciences for Xconomy
One of the things I’ve always enjoyed about technology journalism is how cozy a niche it is. There just aren’t than many folks who can geek out with the lab dwellers, put the hard questions to the executives, and get it all down on the page, on a deadline–so it often feels like if you … Continue reading “Sylvia Pagán Westphal Takes the Pulse of Life Sciences for Xconomy”
A Tangled Web of Self-Interest
Boy, it’s good to be here, invading a tiny corner of cyberspace as the new life sciences columnist for Xconomy. It is a journalist’s dream to be given free rein, and unlimited real estate, to write about the subjects she thinks matter. As a newspaper reporter (more about me here) the pressure to keep stories … Continue reading “A Tangled Web of Self-Interest”
Catabasis, Led by Sirtris Vets, Seeks to Fight Diabetes by Controlling Inflammation
One of the big ideas in diabetes research today is that inflammation is one of the major culprits. Tamp down inflammation, and maybe you can reduce the assault on blood vessels that leads to all sorts of complications like heart attacks, blindness, and amputations. If this can be proven over time, Cambridge, MA-based Catabasis Pharmaceuticals … Continue reading “Catabasis, Led by Sirtris Vets, Seeks to Fight Diabetes by Controlling Inflammation”
HemaQuest Pockets Full $12M to Treat Sickle Cell and Other Blood Disorders
Seattle-based HemaQuest Pharmaceuticals has nailed down a full Series B round of financing worth $12 million, according to a company statement. This means HemaQuest has secured a second installment of $6 million, after grabbing the first chunk of cash in late January, which we first reported based on a regulatory filing. The complete deal is … Continue reading “HemaQuest Pockets Full $12M to Treat Sickle Cell and Other Blood Disorders”
Confident Technologies Makes Its Debut in Restart of Vidoop’s Security Software
Curtis Staker tells me that Portland, OR-based Vidoop had a Web security idea that was just too good to let die. So Staker, a veteran software security executive, helped to acquire Vidoop’s assets in January, moved the software development operation to Solana Beach, CA, near San Diego, and today is launching the reincarnated business as … Continue reading “Confident Technologies Makes Its Debut in Restart of Vidoop’s Security Software”
The Triple Helix Model for Reinvigorating Michigan’s Economy
Michigan is beginning to take a more enlightened approach to economic development, with a stronger level of cooperation between academia, industry and government. It is now recognized that each of these constituencies has a vital role to play in rebuilding and sustaining a robust, knowledge-based economic model. Mr. Lennart Johansson, the Swedish Consul General to … Continue reading “The Triple Helix Model for Reinvigorating Michigan’s Economy”
Signature Genomic Gets Sold for $90M, DreamBox Bought by Netflix CEO, The $7M Madrona Man, & More Seattle-Area Deals News
A very wide range of deals were done this week in the Northwest, ranging from small tech partnerships and fundings to a large biotech acquisition. Methinks the action will pick up in the next month before summertime. —Bellevue, WA-based DreamBox Learning, an online math education startup, has been acquired by Netflix CEO Reed Hastings and … Continue reading “Signature Genomic Gets Sold for $90M, DreamBox Bought by Netflix CEO, The $7M Madrona Man, & More Seattle-Area Deals News”
Invest in the Convergence of Life Sciences, Engineering, Physical Sciences, and IT
Developing the economy of Detroit and surrounding areas is going to take some significant time. Thus, some entrepreneurs and innovators need to take the long view by engaging with the research universities, institutions and medical centers to develop people and new innovations for the future. This would include working with leaders of these institutions to … Continue reading “Invest in the Convergence of Life Sciences, Engineering, Physical Sciences, and IT”
Auto Battery Developer Sakti3 Gets $7M in Series B Funds; Company Stays Low Key
When I last met Ann Marie Sastry, she was shivering in the cold, leaky basement of Detroit’s Cobo Hall at January’s auto show, talking about how her company, Ann Arbor, MI-based automotive lithium-ion battery developer Sakti3, was eventually going to power the cars upstairs on the main show’s “Electric Avenue.” Now her company is closer … Continue reading “Auto Battery Developer Sakti3 Gets $7M in Series B Funds; Company Stays Low Key”
Oracle Acquires Phase Forward, Diax Collects Up to $12M from Paul Capital, Agios Gets $130M from Celgene, & More Boston-Area Deals News
Acquisitions, partnership agreements, and early round financing for some stealthy operations made it a busy deals news week for us. —Third Rock Ventures, a Boston firm focused on investments in life sciences companies, plans to raise $400 million for its second fund, according to an SEC filing. The firm closed its first fund, with $378 … Continue reading “Oracle Acquires Phase Forward, Diax Collects Up to $12M from Paul Capital, Agios Gets $130M from Celgene, & More Boston-Area Deals News”
One Studio to Rule Them All: Warner Bros. Buys Turbine, Secures All Rights to Tolkien Games
The Burbank, CA-based Home Entertainment Group of Warner Bros. Interactive Entertainment, a unit of media giant Time Warner (NYSE: [[ticker:TWX]]), has purchased Westwood, MA-based online game maker Turbine. The companies announced the deal after markets closed tonight. Turbine is best known for its massively multiplayer online (MMO) game world Lord of the Rings Online, based … Continue reading “One Studio to Rule Them All: Warner Bros. Buys Turbine, Secures All Rights to Tolkien Games”
Phenomix Diabetes Drug Dumped by Forest Labs, After Hitting Clinical Trial Goals
[Correction: 4:40 pm Pacific 4/21/10] The folks at San Diego-based Phenomix are wrestling with some serious cognitive dissonance today, which is a fancy way of saying they got some serious bad news mixed in with some good news. First, the bad news. Phenomix’s U.S. partner, New York-based Forest Laboratories (NYSE: [[ticker:FRX]]), said today in its … Continue reading “Phenomix Diabetes Drug Dumped by Forest Labs, After Hitting Clinical Trial Goals”
DreamBox Learning Bought by Netflix CEO (and Microsoft Board Member) Reed Hastings and Charter Fund—Some More Context
Score one for online education. Bellevue, WA-based DreamBox Learning announced today it has been acquired by Netflix CEO Reed Hastings and the Charter Fund, a nonprofit venture firm. The price was not disclosed, but the deal includes a new investment of $10 million in the company, which will be used to advance DreamBox’s e-learning technology, … Continue reading “DreamBox Learning Bought by Netflix CEO (and Microsoft Board Member) Reed Hastings and Charter Fund—Some More Context”
Learn How EMC, Microsoft, and Other Technology Giants Are Navigating the Evolving Healthcare Landscape at Next Week’s Xconomy Forum
Big technology companies are playing a major role in shaping the health IT field here in Boston and beyond. That is why we’ve asked healthcare leaders from EMC and Microsoft to present their insights at our “Healthcare In Transition” forum next week at the MIT Media Lab (register here). EMC, for instance, is exploring different … Continue reading “Learn How EMC, Microsoft, and Other Technology Giants Are Navigating the Evolving Healthcare Landscape at Next Week’s Xconomy Forum”
For San Diego Biomedical Firms with Stakes in Swine Flu, It’s Time for a Check-Up
As swine flu raced through colleges and communities last summer and fall, at least five San Diego companies with flu-related products or research programs saw their share prices surge. Investors were betting that swine flu, the predominant circulating flu virus in the U.S., presented a real opportunity for these companies. Now comes the reckoning. The … Continue reading “For San Diego Biomedical Firms with Stakes in Swine Flu, It’s Time for a Check-Up”