Posts filtered by tags: Michigan Venture Capital Association[x]


 

Topouzian Brings Economic Development Perspective to New MVCA Role

Ara Topouzian is a longtime Oakland County economic development official and a 2012 Kresge Artist Fellow recognized for his work playing a 76-string kanun harp in Armenian and world music bands. As of March 25, he’ll also be the new director of the Michigan Venture Capital Association, which works to advance the state’s VC ecosystem.Topouzian comes to the MVCA after six years of heading up the 700-member Troy Chamber of Commerce, where he says he worked to reinvent the organization and create p...
Tags: Startups, Entrepreneurship, Trends, Vc, Innovation, Venture Capital, Detroit, Economic Development, Oakland County, National blog main, Detroit blog main, Detroit top stories, Diversity and Inclusion, Michigan Venture Capital Association, MVCA, EntryPoint


Roundup: Personnel Moves, MedHealth Summit, Genomenon, TechTown, More

Let’s catch up on news from around Michigan’s innovation clusters:—Ara Topouzian as been named the new executive director of the nonprofit Michigan Venture Capital Association (MVCA). Topouzian comes to the organization after a nearly six-year stint as CEO and president of the Troy Chamber of Commerce. Former MVCA director Maureen Miller Brosnan left the organization at the end of 2018 to pursue new opportunities, reports Crain’s Detroit Business. Topouzian will officially begin leading the org...
Tags: Startups, Roundup, Entrepreneurship, Trends, Intel, Innovation, Michigan, Detroit, Crain, National blog main, Detroit blog main, Detroit top stories, TechTown Detroit, Marlo Rencher, Genomenon, Maureen Miller Brosnan


No Pipeline Problem: Backstage Capital’s Detroit Plans Spark Excitement

In September, Backstage Capital, a venture investment firm seeding early-stage startups led by women, people of color, and members of the LGBTQ community, launched a $36 million fund to help support black women founders.At the same time, managing partner Arlan Hamilton said the Los Angeles-based firm would run accelerators in four cities: London, Philadelphia, Los Angeles, and a fourth city that would be determined by a public vote. Earlier this month, from the stage at TechCrunch Disrupt, Hami...
Tags: Startups, Entrepreneurship, Los Angeles, Trends, Vc, Innovation, Venture Capital, Brad Feld, Ellen Pao, Detroit, Accelerators, Midwest, DETROIT Detroit, National blog main, New York blog main, National top stories


Roundup: OptimizeRx, Parabricks, URC, Startup Detroit, ACM and More

The weather is finally starting to cool—I’m a fan of fall —but Michigan’s tech startups and entrepreneurs are still red-hot: they’re raising money, buying competitors and complementary companies, launching new products, and more. Read on for recent news about the state’s innovation community.—Rochester’s OptimizeRx, a digital health company focused on facilitating digital communication between doctors and the pharmaceutical industry, last week acquired Somerset, NJ-based CareSpeak Communication...
Tags: Deals, Startups, Roundup, Entrepreneurship, Trends, It, Vc, Software, Innovation, Venture Capital, Michigan, Rochester, Detroit, Digital Health, Duo Security, University Of Michigan


EntryPoint Aims to Increase Inclusion, Diversity in Startup Ecosystem

The tech industry and the investment community that funds it are notorious for being, shall we say, safe spaces for white men. The myth of meritocracy persists in the tech world even in the face of data indicating a longstanding lack of diversity and inclusion. Innovation benefits from different perspectives, backgrounds, and ideas, but it’s hard to access those ideas if one is in an echo chamber—to the entire ecosystem’s detriment. That’s why EntryPoint, a new effort to advance inclusion...
Tags: Startups, Entrepreneurship, Trends, Diversity, It, Vc, Innovation, Venture Capital, Michigan, Detroit, National blog main, National top stories, Detroit blog main, Detroit top stories, Patti Glaza, Michigan Venture Capital Association


As Michigan VC Scene Matures, Funding Gaps, Diversity Are Challenges

In venture capital circles, one often hears that it’s not particularly useful to look at trends year over year; instead, analysts counsel, one should study trends in five-year cycles to get a more accurate picture of where things are. From that perspective, Michigan’s venture capital scene seems to be healthier than it was five years ago, and certainly 10 years ago. But, amid a decline in venture capital deployed to Michigan startups for the second year in a row, there are still issues to...
Tags: Deals, Startups, Entrepreneurship, Trends, Vc, Innovation, Venture Capital, Michigan, Detroit, Lunar, Mercury Fund, National blog main, National top stories, Detroit blog main, Detroit top stories, Arboretum Ventures


Genesis Innovation Group’s New $10M Fund Focuses on Later-Stage Deals

Genesis Innovation Group, a Holland, MI-based collective of venture investors focused on early-stage medical device startups, is raising a new $10 million fund called Cultivate(MD) Capital Fund I. Genesis is not the typical venture capital firm. In an interview earlier this year, CEO Rob Ball said it’s a consulting group consisting of accredited private investors with deep experience in the medical device space that also invests in their client companies. The purpose of Cultivate(MD), Bal...
Tags: Startups, Entrepreneurship, Funding, Trends, Devices, Vc, Innovation, Venture Capital, Holland, Detroit, Healthtech, University Of Michigan, National blog main, National top stories, Detroit blog main, Detroit top stories


U.P.’s Orbion Space Technology Wins $500K Accelerate Michigan Prize

Midtown Detroit hosted two events this week that are among the biggest in the Southeast Michigan startup community: the Michigan Venture Capital Association’s annual awards gala, and the Accelerate Michigan Innovation Competition, where 36 early-stage tech companies competed for nearly $1 million in cash and prizes, including a $500,000 grand prize. Although both events have been around for a while, they felt more at home in Detroit this year, as if they were settled in and comfortable wi...
Tags: Startups, Entrepreneurship, Trends, Vc, Software, Innovation, Venture Capital, Michigan, Detroit, Tpg Capital, Duo Security, Southeast Michigan, David Brophy, National blog main, Detroit blog main, Detroit top stories


Ann Arbor Unicorn: After $70M Series D, Duo Security Valued at $1.1B

[Updated at 1:05 p.m. on 10/17/2017 to add comments from Duo CEO Dug Song; see below.] Ann Arbor, MI-based cybersecurity startup Duo Security today announced that it has closed on a Series D financing round valued at $70 million, bringing the company’s total valuation to $1.17 billion just seven years after its inception. According to the Michigan Venture Capital Association, this is the largest round of funding and highest valuation of any venture-backed company in the Great Lake State’s...
Tags: Startups, Facebook, Etsy, Internet, Entrepreneurship, Trends, It, Cybersecurity, Two-factor Authentication, Vc, Software, Innovation, Venture Capital, True Ventures, Detroit, Zillow


Case’s Advice to Entrepreneurs? Persevere, Support Local Networks

Michigan’s tech startup ecosystem has come a very long way in the past decade—a recent report in Engadget took a fair, comprehensive look—but still lacks a few key ingredients, like a culture that embraces failure and entrepreneurial leaders who aggressively work to create a welcoming, collaborative community. Those were some of the takeaways from yesterday’s Rise of the Rest event in Ann Arbor, MI. Steve Case, author, investor, and AOL co-founder, created the Rise of the Rest bus tour to...
Tags: Startups, Entrepreneurship, Trends, Vc, Aol, Innovation, Venture Capital, Michigan, Detroit, Farmlogs, Steve Case, Duo Security, Dan Gilbert, University Of Michigan, Ann Arbor, Mcity


Roundup: Kyyba Pitch Club, Hygieia, W. Michigan Startup Data & More

Here’s a look at startup news, business competition deadlines, new products, and more from around Michigan’s tech ecosystem: —Detroit’s WeWork location will host UPS’s X-Port Challenge, where startups can pitch their products or solutions and win up to $10,000 in export shipping credits. Each regional winner will then have the opportunity to participate in a national pitch-off, where the first-place prize is $25,000 in cash. The X-Port Challenge will be held at 1001 Woodward Ave. on Nov. ...
Tags: Startups, Roundup, Entrepreneurship, Funding, Trends, It, UPS, Vc, Ford, Innovation, Venture Capital, Michigan, WeWork, Detroit, Healthtech, Spectrum Health


Roundup: Kybba Pitch Club, Hygieia, W. Michigan Startup Data & More

Here’s a look at startup news, business competition deadlines, new products, and more from around Michigan’s tech ecosystem: —Detroit’s WeWork location will host UPS’s X-Port Challenge, where startups can pitch their products or solutions and win up to $10,000 in export shipping credits. Each regional winner will then have the opportunity to participate in a national pitch-off, where the first-place prize is $25,000 in cash. The X-Port Challenge will be held at 1001 Woodward Ave. on Nov. ...
Tags: Startups, Roundup, Entrepreneurship, Funding, Trends, It, UPS, Vc, Ford, Innovation, Venture Capital, Michigan, WeWork, Detroit, Healthtech, Spectrum Health


MVCA Report Shines Light on Detroit’s Startup Growth and Challenges

For roughly the past five years, Detroit’s tech startup ecosystem has been growing at a rapid pace. However, accounts have differed as to just how much growth has occurred. A recent report by the Michigan Venture Capital Association (MVCA) attempts to shine a light on the subject while detailing a couple of key findings. According to the MVCA’s report, there are currently 35 venture-backed startups in Detroit, representing about 25 percent of all VC-backed startups in Michigan. In the pas...
Tags: Startups, Entrepreneurship, Trends, Vc, Innovation, Venture Capital, Michigan, Detroit, Ludlow Ventures, Detroit Venture Partners, Fontinalis Partners, National blog main, National top stories, Detroit blog main, Detroit top stories, NextEnergy


Detroit’s startup scene is exploding and here are the numbers to prove it

 Take this at face value: Detroit has 50% more venture-backed startups than it did three years ago. This comes from a study (PDF) from the Michigan Venture Capital Association (MVCA) which found there are 35 active venture-backed startups in Detroit. Sure, that’s not a huge number compared to other regions, but the growth is notable. I live in the great state of Michigan and can attest to… Read More
Tags: TC, Tech, Michigan, Detroit, Michigan Venture Capital Association


High-Net-Worth Michiganders: Time to “Get Off the Dime,” Brophy Says

When the Michigan Venture Capital Association (MVCA) unveiled the findings in its 2017 at a public event in April, there was a lot to celebrate: a 48 percent increase in venture-backed startups over the past five years; every dollar invested by a Michigan firm attracting $4.61 in out-of-state capital; and a total of $4 billion ($2.4 billion of which is from Michigan VCs) in venture funds currently under management in the state. The number of VCs living or working in Michigan has increas...
Tags: Startups, Entrepreneurship, Funding, Trends, Diversity, Vc, Larry Page, Innovation, Michigan, Detroit, Economic Development, Angel Investors, University Of Michigan, David Brophy, National blog main, National top stories


Detroit’s Mobility Startup Ecosystem on the Rise

New Corporate Partners and Office Mates Team Up with Techstars Mobility Accelerator I’m excited to announce that we have brought on four new partners for the Techstars Mobility Accelerator in 2017: next47 (the independent investment arm of Siemens), Bosch, InMotion (powered by Jaguar Land Rover), and AAA. In addition, Mighty AI is opening an office in Detroit operating out of the Techstars Mobility Accelerator office. The four new partners join existing partners Ford, Verizon, Dana, Honda, Munic...
Tags: Startups, United States, Chile, Jaguar Land Rover, Michigan, Mobility, Detroit, Mapbox, Accelerators, United States Canada, Oblong, Michigan Venture Capital Association, Mobility Startup Ecosystem, New Corporate Partners and Office Mates Team Up, Siemens Bosch, Ford Verizon Dana Honda Munich Re


Arrowhead, Research Cuts, JCI, & More: This Week’s WI Watchlist

Catch up on news from Wisconsin’s innovation community with these recent headlines: —Arrowhead Pharmaceuticals, which is based in Pasadena, CA, but houses its research and development operations in Madison, . This type of agreement, known colloquially as a “poison pill,” is typically aimed at protecting a company’s shareholders in the event of a hostile takeover attempt. Arrowhead (NASDAQ: ARWR) said in a press release that it would give stockholders a right to purchase one one-thousandt...
Tags: Deals, Startups, Trends, Cms, Vc, Wisconsin, Nih, 3m, JCI, Pasadena CA, Redox, Johnson Controls, Centers For Medicare And Medicaid Services, National Institute of Health, Medical College of Wisconsin, Epic Systems


Michigan Might Hold Lessons for Improving Wisconsin’s VC Climate

Wisconsin and Michigan share a border, but there’s a significant gap between the two states in the amount of money investors are putting into startups based there each year. Following the recent decision to reboot the Wisconsin Venture Capital Association, which happened in part because a Madison, WI-based VC firm has a satellite office in Ann Arbor, MI, now seems like a good time to ask: What lessons can the early-stage business community in Wisconsin take from Michigan to boost the amou...
Tags: Startups, Trends, Vc, Wisconsin, Michigan, National Venture Capital Association, University Of Michigan, Ann Arbor, Uw-madison, National Science Foundation, Badger State, WEDC, NVCA, MEDC, Wisconsin Economic Development Corp, National blog main


Investors Reboot Wisconsin Venture Capital Association

The Wisconsin Venture Capital Association, a nonprofit trade group that was formed in 2002 but has been dormant since 2008, is springing back to life, according to key figures in the state’s venture industry. The revival, first reported by the Milwaukee Journal Sentinel, was confirmed Wednesday by two Madison-based investors. Scott Button, managing director at Madison, WI-based Venture Investors, says that discussions about reconstituting the WVCA first took place about two years ago, and...
Tags: Startups, Trends, Vc, Wisconsin, NVCA, Milwaukee Journal Sentinel, PitchBook, Northwestern Mutual, National blog main, Wisconsin blog main, Wisconsin top stories, 4490 Ventures, HealthX Ventures, Scott Button, Michigan Venture Capital Association, National Venture Capital Assocaition


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 email to supporters, SPLT CEO Anya Babbitt described the company’s reaction to the win: “Thursday night was a dream for us at SPLT,” she wrote. “If you were there, you could see that [co-founder and CTO Yale Zhang] an...
Tags: Startups, Mobile, Entrepreneurship, Trends, It, Vc, Software, Innovation, Venture Capital, Michigan, Allergan, Biotech, Detroit, Cto, Healthtech, University Of Michigan


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 prizes and in-kind services (legal, marketing, creative, etc.). More than that, Accelerate Michigan winners are usua...
Tags: Google, Startups, Entrepreneurship, Trends, Innovation, Michigan, Detroit, University Of Michigan, Cobo Center, National blog main, National top stories, Detroit blog main, Detroit top stories, Xconomy, SPLT, Invest Detroit


Study Supports MEDC, Says “Time Is Now” for Michigan Entrepreneurship

Last year, when we covered the legislative fight over the state’s budget and how much funding would be allocated to the Michigan Economic Development Corporation (MEDC), the organization had commissioned an independent report from TEConomy Partners (a division spun out of Battelle) that would study the impact of its programs supporting entrepreneurs, startups, and the capital continuum. The report, initially expected last fall, was finally released in July. Much to the relief of the MEDC as...
Tags: Deals, Startups, Entrepreneurship, Funding, Trends, Vc, Innovation, Venture Capital, Michigan, Detroit, Economic Development, Flint, Battelle, MEDC, National blog main, National top stories


Roundup: Duo Insight, Digital Undivided, Bug Bounty & More

Here’s a look at innovation news from around Michigan: —Duo Security, the Ann Arbor-based cybersecurity startup that is also one of the state’s fastest growing companies, has released a free tool that lets IT teams run internal phishing simulations within five minutes. Duo Insight allows administrators to identify potential security weaknesses and share them with company leaders to better inform security decisions. Based on the first 100 phishing simulations run with Duo Insight, 27 percent...
Tags: Startups, Roundup, Internet, Entrepreneurship, Trends, Atlanta, It, Cybersecurity, Vc, Software, Innovation, Fca, Venture Capital, Michigan, Biotech, Detroit


MVCA Report Reveals Strengths, Weaknesses of MI’s Capital Community

The Michigan Venture Capital Association (MVCA) hosted a town hall meeting in downtown Detroit Tuesday to discuss the contents of its annual report, which takes a deep dive into the state’s venture investing ecosystem to get a sense of the current landscape and how it compares not only to past years, but the rest of the country. The good news is that local VCs now have 15 years of solid data confirming the importance of VC firms, venture-backed startups, and angel investors to Michigan’s ec...
Tags: Startups, Entrepreneurship, Trends, It, Vc, Innovation, Venture Capital, Michigan, Women In Tech, Detroit, Economic Development, National Venture Capital Association, Life Sciences, Legislature, Lansing, Brosnan