The holiday season will soon be upon us, but that doesn’t mean work is slowing down in Michigan’s innovation hubs. Here’s a look at recent technology and entrepreneurship news from across the state. —The Accelerate Michigan Innovation Competition, hosted by Invest Detroit’s ID Ventures on Nov. 13, announced the 2018 winners selected from a field … Continue reading “Roundup: Accelerate Michigan, Waymark, ACM, Detroit FinTech Bay, More”
Tag: Invest Detroit
Fusion Coolant Systems Snags $8M Series C, Plans to “Hit Go Button”
Fusion Coolant Systems, the Canton, MI-based industrial tech startup spun out of the University of Michigan, has raised an $8 million Series C funding round. The investment was led by Material Impact, a Boston venture capital firm, and Michigan Capital Advisors, with participation from existing investors, including U-M’s Michigan Investment in New Technology Startups (MINTS), … Continue reading “Fusion Coolant Systems Snags $8M Series C, Plans to “Hit Go Button””
AfroTech: Could Detroit Be the Black Tech Capital of the Country?
Take a walk through the downtown core and it’s obvious the Motor City has mounted a comeback. Downtown Detroit is unquestionably benefitting from significant private investment, and witnessing its growth in the past decade has been truly impressive: Tech companies large and small have established offices here, buildings have been carefully renovated, the landscaping has … Continue reading “AfroTech: Could Detroit Be the Black Tech Capital of the Country?”
PawnGuru Raises $2.5M Series A, Plans Expansion into Latin America
PawnGuru, a startup focused on digitizing the pawn shop experience, has raised $2.5 million in a Series A funding round. The investment was led by the Impact America Fund and Invest Detroit, with additional contributions from angel investors. Since its inception in 2015, the company has raised a total of $3.7 million. Jordan Birnholtz, PawnGuru’s … Continue reading “PawnGuru Raises $2.5M Series A, Plans Expansion into Latin America”
Roundup, Part One: NextEnergy, Application Deadlines, U-M News, More
Even though we’re hardly two months into the year, 2018 has already been packed with local innovation news. In fact, we have so much material that we’re splitting this roundup into two parts; the second part will run later this week. Here’s a look at some of the recent tech news unfolding across Michigan: — … Continue reading “Roundup, Part One: NextEnergy, Application Deadlines, U-M News, More”
Akadeum Scores $1.5M to Advance Microbubble Cell-Sorting Technology
Akadeum Life Sciences, a cell-sorting startup based in Ann Arbor, MI, has raised nearly $1.5 million in new capital from a mix of Midwestern and Silicon Valley investors. The round was led by Belmont, CA’s BioInfleXion Point Partners, with contributions from 5 Prime Ventures, the University of Michigan’s MINTS program, Invest Detroit, eLab Ventures, and … Continue reading “Akadeum Scores $1.5M to Advance Microbubble Cell-Sorting Technology”
Roundup: Grand Circus, STEM Initiatives, and a Lot of Cybersecurity
—Grand Circus, the coding school with campuses in downtown Detroit and Grand Rapids, is partnering with Facebook to offer a front-end developer bootcamp in October. The training course will combine Grand Circus’ front-end curriculum with React, an open-source JavaScript platform. Successful applicants will receive full scholarships and training in HTML5/CSS3, JavaSript, jQuery, React, Node.js, NPM, AJAX, … Continue reading “Roundup: Grand Circus, STEM Initiatives, and a Lot of Cybersecurity”
Callida Energy, RideHop Win NextEnergy’s Smart Cities Challenge
As autonomous technologies, the Internet of Things, and big data begin to shape the way we interact with the world around us, we’ll have more technological tools to tackle challenges related to safety, mobility, emissions, accessibility, and congestion. Last week, those tools were on display as part of Detroit nonprofit NextEnergy‘s 2016 Smart Cities competition … Continue reading “Callida Energy, RideHop Win NextEnergy’s Smart Cities Challenge”
Ridesharing Startup SPLT Wins Accelerate Michigan’s $500K Prize
SPLT, the Detroit-based enterprise carpooling service and graduate of the Techstars Mobility program, walked away with the $500,000 grand prize at this year’s Accelerate Michigan Innovation Competition, the state’s largest annual startup event, held last week in Detroit. In an e-mail to supporters, SPLT CEO Anya Babbitt described the company’s reaction to the win: “Thursday night … Continue reading “Ridesharing Startup SPLT Wins Accelerate Michigan’s $500K Prize”
Accelerate Michigan 2016: One Day, One Location, 36 Semi-Finalists
The 36 semi-finalists competing in the annual Accelerate Michigan Innovation Competition, the state’s largest business plan competition targeting mid-to-late-stage startups, have been announced. Although this year’s edition, overseen by Invest Detroit for the first time, has been helpfully streamlined to one day and one location, still at stake is more than $1 million in cash … Continue reading “Accelerate Michigan 2016: One Day, One Location, 36 Semi-Finalists”
Woodside Distributors Crowned Champion of U-M Startup Competition
The University of Michigan concluded its spring business competition, called The Startup, last week, and, after a four-month pitching process, Woodside Distributors was crowned the champion. Hosted by U-M’s Center for Entrepreneurship, the competition began in January with 21 teams. From that initial field, a panel of local investors—the Mercury Fund’s Adrian Fortino, Jake Cohen … Continue reading “Woodside Distributors Crowned Champion of U-M Startup Competition”
Why Passion and Preparedness Matter to Urban-Focused Investors
Detroit is considered by many to be the ultimate proving ground for social entrepreneurs, a place where they can test solutions to homelessness, lack of functioning public transit, and other major problems. Capitalizing on that reputation, the Urban Entrepreneurship Symposium—held Friday at Detroit’s College for Creative Studies and co-hosted by Michigan State University, Wayne State … Continue reading “Why Passion and Preparedness Matter to Urban-Focused Investors”
Michigan Budget Battle Pits Startups Against Road Infrastructure
On Oct. 7, the entire staff of the Michigan Economic Development Corporation (MEDC), the state office in charge of tourism and economic development, gathered for the first time in months. Big changes are coming to the department—it recently announced layoffs as well as a 27 percent cut in its overall operating budget—and its leadership wanted … Continue reading “Michigan Budget Battle Pits Startups Against Road Infrastructure”
Have an Idea to Fix Transportation in Detroit? You Could Win $250K
If there’s one thing that makes Detroiters’ blood boil, it’s when people from out of town parachute into the city full of plans on how to supposedly improve the lives of Motor City residents—without ever consulting said residents before plowing ahead. It’s incredibly condescending, usually, and often smacks of paternalism. There’s a right way and … Continue reading “Have an Idea to Fix Transportation in Detroit? You Could Win $250K”
Roundup: Goldman Sachs, Hatch Detroit, Aging 2.0, U-M & More
Here’s a look at innovation news from around Michigan: —The Goldman Sachs 10,000 Small Businesses Initiative, a $20 million effort announced in 2013 that provides loans, business education, and grants to Detroit-area entrepreneurs, celebrated the graduation of 60 small-business owners at a reception at Wayne State University earlier this month. The graduates participated in more … Continue reading “Roundup: Goldman Sachs, Hatch Detroit, Aging 2.0, U-M & More”
Michigan Pre-Seed Fund 2.0 Invests $325K in Five Startups
The Michigan Pre-Seed Fund 2.0 (MPSF), a $6.8 million statewide investment fund that backs early-stage technology companies, has announced its latest batch of capital deployments. The five companies receiving a total of $325,000 range from an Ann Arbor startup that has developed a smart skylight, to a new online tool for college students looking for … Continue reading “Michigan Pre-Seed Fund 2.0 Invests $325K in Five Startups”
PowerMoves@Detroit Sees Fertile Ground to Seed Inclusive Innovation
Last week, the sprawling Techweek conference took over Detroit, and amidst the roster of activities, tech-celeb speakers, and after-parties, I was most impressed with the PowerMoves@Detroit event held downtown. PowerMoves@Detroit, which was sponsored by Morgan Stanley and hosted by Invest Detroit and the Detroit Economic Growth Corporation (DEGC), showcased local and nationally recruited minority entrepreneurs participating … Continue reading “PowerMoves@Detroit Sees Fertile Ground to Seed Inclusive Innovation”
Roundup: Hacker Fellows, Cleantech Open, Seelio, MLSIC, More
Here’s a look at news from around Michigan’s innovation community: —Invest Detroit and Grand Circus, part tech school and part community center, are seeking applicants for a new Hacker Fellows program, which places software developers in jobs at Michigan start-ups. Graduating seniors with computer-related degrees from accredited universities will be selected for a six-week session … Continue reading “Roundup: Hacker Fellows, Cleantech Open, Seelio, MLSIC, More”
Detroit Materials Hopes to Reinvent Steel in America’s Car Capital
Good old-fashioned iron and steel helped make Detroit the powerhouse of 20th Century industrial America. A startup called Detroit Materials is hoping to lead a renaissance for these hardworking metals, backed by technology from Wayne State University. The company finalized a licensing agreement with WSU in June, allowing it to commercialize a kind of high-strength, … Continue reading “Detroit Materials Hopes to Reinvent Steel in America’s Car Capital”
TechTown Hires Paul Riser Jr. to Run Tech-Based Entrepreneurship
Last week, the Detroit-based business accelerator TechTown announced it had hired Paul Riser Jr. as its new managing director of technology-based entrepreneurship. Riser replaces Charlie Moret, who left earlier this year to lead the new nonprofit Invest Michigan, which manages the Michigan Pre-Seed Fund 2.0. Riser has an extensive background as an entrepreneur, information officer, … Continue reading “TechTown Hires Paul Riser Jr. to Run Tech-Based Entrepreneurship”
MoneyTree Reports $35.6M in MI Venture Deals Last Quarter
Venture capital funding surged nationwide during the first quarter of 2014, driven mainly by substantial investments in expansion-stage IT and software companies, according to the MoneyTree Report being released today. That trend extended to Michigan, where MoneyTree reported that 14 companies snagged $35.6 million in venture capital investment during the first quarter of 2014. Though … Continue reading “MoneyTree Reports $35.6M in MI Venture Deals Last Quarter”
State Allots $6.8M to Invest Michigan Fund for Seeding Tech Startups
The Michigan Strategic Fund board announced today that is has designated $6.8 million in new state money for the Michigan Pre-Seed Fund 2.0, an investment fund targeting early-stage tech startups statewide. It will be managed by Invest Michigan, a new Detroit-based nonprofit led by Charlie Moret, a Connecticut transplant who most recently served as TechTown’s … Continue reading “State Allots $6.8M to Invest Michigan Fund for Seeding Tech Startups”
App Competition Open to Wayne State Students, Faculty, Alumni
Blackstone LaunchPad, a Wayne State University program funded by the New Economy Initiative and the Blackstone Charitable Foundation that offers resources and guidance to student entrepreneurs and inventors, is on a mission to spur the creation of apps. The LaunchPad is teaming up with the university’s office of economic development in a new competition open … Continue reading “App Competition Open to Wayne State Students, Faculty, Alumni”
IROA Forms Florida Partnership, Pushes Metabolomics Forward
Metabolomics, which is the study of the unique chemical imprints that specific cellular processes leave behind, in is an up-and-coming field in biotech, says Felice de Jong, co-founder and CEO of IROA Technologies. Sure, she argues, genomics can tell patients what may happen—what they’re predisposed to—but an accurate measurement of the body’s metabolites can tell … Continue reading “IROA Forms Florida Partnership, Pushes Metabolomics Forward”
Who Knew? Fun Facts About Southeast Michigan’s Innovators
When people ask me for a “fun fact” about my life, I usually tell them some version of the story of how a friend and I stalked Canadian film director Guy Maddin all the way to Winnipeg, an incident that wound up as a chapter in Maddin’s book. I’m not the only one with amusing … Continue reading “Who Knew? Fun Facts About Southeast Michigan’s Innovators”
Talking TechTown’s Reboot, Detroit’s Robustness With Charlie Moret
Charlie Moret, the TechTown business incubator’s new managing director of technology-based entrepreneurship, says he’s a lifelong “intrapreneur.” His passion has always been innovating, but he’s often been doing it from inside a broader organization. That’s a major reason why, when given the opportunity to reboot TechTown’s programs and take them back to their high-technology roots, … Continue reading “Talking TechTown’s Reboot, Detroit’s Robustness With Charlie Moret”
Detroit’s Grand Circus Wants to Nurture Local Community’s Tech Talent
Part technology, business, and design training institute; part co-working space; and part event space, Grand Circus is the Quicken Loans family’s newest tool in Detroit to “elevate the tech profile of the community,” says co-founder Brad Hoos. It’s widely acknowledged that there’s a huge shortage of developer talent in Detroit, and Grand Circus’s organizers want … Continue reading “Detroit’s Grand Circus Wants to Nurture Local Community’s Tech Talent”
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”
Xconomist of the Week: Ramsinghani On Microinvesting in a Company Town
There is a lot of talk these days in post-industrial American cities like Detroit about transforming the “brawn economy” into the brain economy. Detroit Xconomist Mahendra Ramsinghani, who runs Invest Detroit’s First Step Fund, is on the front lines of that battle to economically recalibrate. “As a community, generation after generation got up and went … Continue reading “Xconomist of the Week: Ramsinghani On Microinvesting in a Company Town”
Unitask Software Wants to Make Oracle Users’ Experience Better
Dale Royal, the CEO of Bloomfield Hills, MI-based Unitask Software, is not a man who lets the grass grow under his feet. In 2001, he was an executive at Veritas Software but he realized he needed to tend to his homefront, so, at age 41, he retired. “I had been running a billion-dollar company, but I … Continue reading “Unitask Software Wants to Make Oracle Users’ Experience Better”
Own Raises Another $50,000, Nabs Coffee House Customers
It has been nearly two years of hard work but Own president/founder Verdi Erel Ergun can finally say what every new company wants to say. “We now have a real product with real paying customers!” Ergun e-mails me. Since Xconomy first profiled the Ann Arbor, MI-based startup last summer, Own has raised $50,000 from Invest … Continue reading “Own Raises Another $50,000, Nabs Coffee House Customers”
U-M Startup Aims to “Reveal” Design Flaws In Computer Chips
Designing a next generation computer chip can be a real pain in the…uh, hard drive. Just ask Intel. In January, the world’s largest maker of chips said it stopped shipments of chips that power its most advanced Sandy Bridge line of PC processors because of a design flaw, a recall Intel said would cost it … Continue reading “U-M Startup Aims to “Reveal” Design Flaws In Computer Chips”