Category: Michigan

MichBio report outlines path to continued life sciences industry investment, gap funding

A new roadmap aims to reboot efforts to build Michigan’s life sciences industry and compete with similar clusters around the U.S. and the world. While the industry has come far in the last decade-plus and offers “strong assets,” it remains uncompetitive compared to other states and requires a renewed private- and public-sector effort to grow and […]

Ann Arbor-based Millendo scores $62M investment

An Ann Arbor-based start-up drug company with roots in the University of Michigan scored a $62 million buy-in from outside investors because of its early work on treatments for several medical conditions, including some affecting  women. The so-called Series B investment secured by Millendo Therapeutics follows an earlier round of investment that raised $16 million in 2012, company officials said. The $62-million […]

U Michigan Spin-off Akadeum gets $1 million seed

There have been two recent votes of confidence for Ann Arbor-based Akadeum Life Sciences Inc., a 2014 spinoff from the University of Michigan. In October, it finished raising a seed round of $1 million, which will fund product development and beef up sales and marketing. Normally that would be the big news. But that was overshadowed by […]

Macomb Community College Innovation Fund announces $275,000 in inaugural awards to five Detroit-area technology-focused startups

The Innovation Fund is a $2.7 million effort to stimulate economic development and job growth among promising Detroit-area entrepreneurs and next-stage businesses with high growth potential. Awards of $25,000 will be distributed to start-up businesses to assist with market introduction and awards up to $100,000 will be given to advance the progress of emerging companies […]

Zells donate $60 million to University of Michigan, support funds

The University of Michigan’s business school is set to receive $60 million from the Zell Family Foundation, which has now donated more than $150 million to the university over the years. The money will go to extend programs at the Samuel Zell and Robert H. Lurie Institute for Entrepreneurial Studies and create new ones. “This […]

University of Michigan’s Zell Lurie Commercialization Fund Invests in Reveal Design Automation

The Zell Lurie Commercialization Fund, in collaboration with the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the University of Michigan’s Stephen M. Ross School of Business, today announced that it has invested in Reveal Design Automation, an Electronic Design Automation (EDA) start-up developing software tools for formal verification of complex semiconductor […]

5 early-stage tech companies get $3 million from Michigan Pre-Seed Fund 2.0

Detroit-based Invest Michigan has announced investments totaling $325,000 in five early-stage tech companies from its Michigan Pre-Seed Fund 2.0. That investment went along with matching investments from other sources of $2.7 million. Since its launch last June, the $6.8 million fund has invested in 18 early-stage tech companies in the state. The current round of […]

Phasing Out Michigan Venture Fund Would Hurt State’s Efforts To Help Entrepreneurs

Jim Adox, Chairman of the Michigan Venture Capital Association, and Managing Director of Venture Investors LLC, said phasing out the Venture Michigan Fund – as proposed by the Michigan House Commerce and Trade Committee this week – would have a tremendous negative impact on the state’s efforts to make Michigan more entrepreneur friendly. “In 2003, […]