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Advice for entrepreneurs from Michigan’s most active tech investor

Endeavor Detroit / November 6, 2019

Invest Michigan is Fund Manager for Michigan Pre-Seed Fund II, which provides seed capital to early-stage companies that are commercializing technology products and services headquartered in Michigan, including advanced engineering, manufacturing and materials, IT software and cybersecurity, life sciences, and medical devices. Since the Fund’s launch in 2014, it has averaged 20 investments per year, completing 108 investments totaling $13 million in 51 companies, making it the most active technology investor in Michigan during the past five years. These

Members of Forbes Finance Council share the trends they believe will dominate fintech over the next year. PHOTOS COURTESY OF THE INDIVIDUAL MEMBERS.

14 Fintech Trends To Watch For In 2020

Expert Panel, Forbes Finance Council / November 4, 2019

Automation and technology aimed at improving financial services—fintech—has garnered a lot of attention lately. From crowdfunding to mobile payments and money transfer services, fintech has the potential to revolutionize how consumers and businesses handle financial transactions.

As with any technology, fintech developments happen quickly, and smart business owners will want to keep up. Below, 14 members of Forbes Finance Council take a look at the trends in fintech that could rise to prominence over the next year.

Members of Forbes Finance Council share the trends they believe will dominate fintech over the n

(Photo courtesy of Crain’s Detroit Business) Houghton-based Orbion Space Technology manufactures its Aurora Plasma Thrusters for small satellites.

MEDC does more than most are aware

GRAHAM JAEHNIG / November 4, 2019

HOUGHTON — More and more high-tech businesses are emerging across the state of Michigan, both in the Upper and Lower peninsulas, many of which are assisted by the Michigan Economic Development Corporation (MEDC). With the development of high-grade technology, the U.P’s economy is becoming more diversified, largely as the result of the MEDC’s collaboration with more than 100 economic development partners.

By marketing Michigan as the premier state in which to do business, they also assist businesses in their growth strategies and foster the growth of communities across the state.

The process begins within one or more of the research universities of the state, said Fred Molnar, vice president of Entrepreneurship and Innovation, MEDC.

Molnar said t

Steve Case (left), with Chris Rizik at Detroit Homecoming VI in September.

In Detroit, Case announces second $150 million Rise of the Rest fund for startups outside Silicon Valley

DUSTIN WALSH / November 4, 2019

A month after he announced a third venture capital fund at Detroit Homecoming 2019, AOL co-founder Steve Case announced another fund focusing on startups not located on the coasts.

Case announced the Rise of the Rest Fund II on Monday at the Forbes Under 30 Summit in Detroit. The $150 million fund, which provides seed funding to early-stage startups, is backed by Amazon’s Jeff Bezos, Spanx fo

(MaxOne is a proud partner of Front Office Sports)

Aged to New Age: How Custom Technology is Shaping the Future of Archaic Sports Orgs

FRONT OFFICE SPORTS / October 31, 2019

The youth and amateur sports industry is multifaceted, to say the least.  With hundreds of organizations serving coaches, athletes and parents; technology is playing an ever-growing role and encouraging these organizations to consider building apps. 

Each of these more traditional organizations are feeling added pressure to extend into the digital space to build brand loyalty, deliver their premium content, provide their training services, or to build better communication tools for their community.

Technology in the sports space will continue to trend upward. More than 58% of smartphone users have downloaded a health or fitn

Press Release - Akadeum and Agilent Team Up to Explore New Testing Workflow

October 31, 2019
Akadeum and Agilent Team Up to Explore New Testing Workflow

Novel Akadeum microbubble technology can be the answer to improved quality and reduced costs across multiple fields of testing.

October 30, 2019, Ann Arbor, MI – Akadeum Life Sciences, Inc., an Ann Arbor-based biotechnology company, announced today that it has entered into a collaboration with Agilent Technologies, Inc. to work toward a new method of isolating target molecules for detection. Akadeum aims to disrupt the status quo in isolation technology with their buoyant microbubbles. Notably, Akadeum is the first company to commercialize buoyancy-based cell isolation with their growing portfolio of human and mouse cell enrichment kits for immunology researchers. In addition, the same technology can be leveraged to improve isolation workflows and capabilities for target molecules such as DNA, protein, microbes, and others; which, Akadeum is developing through strategic partnerships.

“Sample preparation is a critical, yet often undervalued, step in most analytical assays. Often, the task of sample preparation employs decades old technology that is manual, time-consuming, and resource-intensive,” said Brandon McNaughton, CEO of Akadeum Life Sciences. “Akadeum was founded to bring simple and superior isolation solutions to a variety of industries through our buoyancy-based microbubble technology and we are excited to be starting work with Agilent to explore new applications.”

Agilent, an early investor in Akadeum, has engaged in this collaboration with the

Fusion Coolant Systems Expands Customer Center 

October 30, 2019

Fusion Coolant Systems, manufacturer of an advanced coolant and lubrication system called “Pure-Cut™,” has seen some of the largest automotive, aerospace and medical device manufacturers around the world come through their doors. The global emphasis on sustainable development has played a dynamic role in Fusion’s recent success, with companies looking for a cleaner, safer and more efficient alternative to traditional cutting fluids. With multiple customer visits scheduled every week, Fusion has expanded their facility and capabilities to set them up for long term success.

Expanded Customer Center

With a rapid increase in customer demand, Fusion has responded by expanding their Customer Center in Canton, Michigan. “We have added more machining capacity, doubled the size of our facility and expanded our research efforts into different materials and operations” said Brian Ahlborn, President and CEO of Fusion. “We also installed a larger recycled CO2 tank to support the additional machine tools. It’s large enough to provide for future expansion as well” The additional infrastructure will support both customer test applications and internal research development.

In the last year, Fusion has seen their Customer Center grow to three machine tools, and a fully integrated, advanced CO2 unit that can handle up to 10 Pure-Cut™ boxes. “The CO2 infrastructure we installed at our own facility is very similar to what our customers install at their sites” said Scott Jones, Dire

ONL Therapeutics Announces First Patient Treated in Phase I Study with ONL1204

Linda Kemnitz / October 25, 2019

ONL Therapeutics Announces First Patient Treated in Phase I Study with ONL1204

ONL Therapeutics transformed into a clinical stage biopharmaceutical company with first-in-human study

ANN ARBOR, MI – October 23, 2019

ONL Therapeutics, Inc., a biopharmaceutical company developing novel therapies for protecting the vision of patients with retinal disease, today announced that the first patient has been treated in the company’s First-in-Human trial with its lead drug candidate ONL1204. The study is being conducted in Australia at leading clinical research centers in Sydney and Melbourne. The study will assess four different doses of ONL1204 and is designed to demonstrate safety and tolerability of the investigational drug in patients with a macula-off rhegmatogenous retinal detachment (RRD).

“This is a transformational step for our company with the announcement of our first patient being treated with ONL1204,” commented David Esposito, CEO of ONL Therapeutics. “I want to thank our dedicated team, our investors, and retinal surgeons around the world who have been seeking a therapeutic intervention to support improving the outcome of the current standard of care surgery for macula-off RRD. We look forward to working with retinal specialists to utilize our Fas inhibition platform to protect the vision of patients with retinal disease.”

ONL1204 has been granted orphan drug designation for the treatment of retinal detachment by the United States Food and Drug Administration (FDA). The company is emba

@bloomscape

For Bloomscape Founder Justin Mast, Plant Care Is a Family Matter

Halie LeSavage / October 25, 2019

There are dog people, there are cat people, and there are plant people. That last group has been hit with some supercharged fertilizer in the last five years. House plant sales have increased 50% since 2016 in the U.S., per Bloomberg.

Young people who want their apartments to feel like the great indoors have supported a new kind of plant purveyor—brands like Bloomscape, which turned a family-owned greenhouse into a nationwide, vertically integrated business. I caught up with Bloomscape CEO Justin Mast to learn more about cultivating an online community of

SHOPTELLIGENCE PAYING DIVIDENDS FOR ITS CLIENTS

October 18, 2019

This press release is submitted and shown here in its original form, unedited by Furniture Today.

After Generating Millions in Incremental Revenue for its Furniture Clients, Expands into Store and Outbound Channels

This press release is submitted and shown here in its original form, unedited by Furniture Today.

After Generating Millions in Incremental Revenue for its Furniture Clients, Expands into Store and Outbound Channels

ANN ARBOR, MI – October 16, 2019 – Shoptelligence announced today that its AI-Powered platform has consistently proven its ability to increase revenue per buyer by over 30% and has delivered millions in incremental revenue for its Top 100 furniture retail clients. This milestone is an important one for Shoptelligence as the platform officially launched at the October 2018 High Point Furniture Market and is now expanding its offerings to deliver similar results in-store and via outbound marketing.

The SaaS platform provides the assistance of an interior designer at every customer touchpoint, helping the shopper find the right item then reasoning like a designer to curate interactive cross-category room assortments specific to that shopper’s style and the room they are furnishing. Shoptelligence’s unique ability to combine inspiration and assistive selling has increased its clients’ online revenue by 2.7%, with purchases that result from the interactions accounting for 13% of total client online revenue. In an era where retail traffic is down, retailers must g

Ripple Science is Attending the SaaS CXO Summit

AMANDA HOLDAN-SINISI / October 18, 2019

ANN ARBOR, MICH. (PRWEB) OCTOBER 16, 2019

Ripple Science, a SaaS company accelerating clinical research, will attend the SaaS CXO summit in San Antonio, Texas. The SaaS CXO Summit is an opportunity for executives, venture capitalists, corporates, and sponsors to network, matchup and share best practices.

Ripple Science CEO Peter Falzon explains, “Attending the largest gathering of SaaS ecosystem participants in the Midwest further expands the opportunity for Ripple to achieve fundraising goals in less than the anticipated timeframe.”

Ripple Science is currently seeking a lead investor for a two-million-dollar seed round. The CXO Summit begins on October 22.

About Ripple Science:
Ripple Science accelerates clinical research with its secure, HIPAA-compliant suite of tools. By adapting sales and marketing automation to the process of patient recruitment, Ripple helps our customers recruit more participants, faster and reduces patients lost to follow-up.
Ripple Science’s flagship product, Ripple, is currently being used by research investigators at more than 100 academic and research centers around the world, including Johns Hopkins University, Pennsylvania State University, University of California Los Angeles, the Brain Research Foundation Canada, University of East Anglia (UK), Cognito Therapeutics (Boston, MA) and the University of Michigan.
To learn more, please visit: https://www.ripplescience.com

Orbion Expands Senior Leadership Team to Accelerate Global Business Growth

October 18, 2019

Orbion appoints Greg Orndorff as Vice President of Business Development

HOUGHTON, Mich., Oct. 16, 2019 (GLOBE NEWSWIRE) — Orbion Space Technology, developer of next-generation smallsat propulsion systems, today announced the appointment of Greg Orndorff, Vice President of Business Development.

Greg is an aerospace industry veteran with over 30 years of experience across various leadership roles in the public, private, and not-for-profit sectors. Most recently, Greg was Vice President, Government Systems at Vector Launch—responsible for developing a New Space commercial launch initiative for the United States Government. Prior to Vector Launch, Greg held executive and senior management roles at SGT, Inc., the Johns Hopkins University Applied Physics Laboratory (Space department), Northrop Grumman, and Orbital Sciences Corporation. Greg is a former United States Air Force Officer where he performed tours in operations and acquisition of space systems.

“Until Orbion instantiated electric propulsion for the New Space architectures, small satellite developers were limited on system choices, had to wait forever, and paid an arm and leg for them,” said Greg Orndorff, Vice President of Business Development, Orbion Space Technology. “I am excited to join the Orbion team to help deliver its vision of cheaper, faster, and better access to space for the next generation of space

Accelerate Michigan Innovation Competition selects 24 semifinalists

ANISA JIBRELL / October 18, 2019

Accelerate Michigan Innovation Competition winners of a total of $1 million in cash and other prizes celebrate last November at the Lexus Velodrome in Detroit.

  • Awards include a $350,000 grand prize
  • Pitch competition to be held Nov. 13 at the State Savings Bank in Detroit
  • About 33 percent of the semifinalists are minority-led companies

How to Create a Serene Meditation Space in a Small, Cramped Apartment

Kara Ladd / October 17, 2019

It feels like the cure for every problem these days is mediation. Feeling anxious? Meditate for 20 minutes a day. Need help falling asleep? Again, meditate. Feeling lost and disconnected? You get the point. But whether you’re new to meditation or just looking to feel more peaceful in your everyday life, a cramped and chaotic apartment can seem like an enormous roadblock. Sure, it’s ideal to retreat to an empty, sun-drenched room to do your morning meditation or a lush backyard where you can surround yourself in nature every day. But we’re happy to report that you can still curate a mindful meditation space even in the most cramped, eclectic, and chaotic of dwellings. Here are some hacks to create a conscious corner for you and your practice.

Embrace the Power of Plants

Detroit-based Bloomscape names first chief technology officer

ANISA JIBRELL / October 17, 2019
  • Aaron Averbuch tasked with crafting plant seller’s tech team, improving supply chain
  • He previously served as vice president of engineering infrastructure at Placed
  • The company recently bolstered by $7.5 million investment

Aaron Averbuch

Bloomscape, an online plant startup based in downtown Detroit, has tapped a former executive of a Snap Inc. company to serve as its first chief technology officer.

Aaron Averbuch, 40, previously served as vice president of

Ask for Help, and You Shall Receive

Michelle Ma / October 15, 2019

Larry Freed, president and CEO of Give and Take Inc., at the “Women in the Workplace” forum.
ANDREW DAVIS FOR THE WALL STREET JOURNAL

“We can ask Alexa, Siri or Google, but that won’t replace the experience of asking our colleagues,” says Larry Freed, chief executive of Give and Take Inc., an Ann Arbor, Mich., software company focused on knowledge collaboration.

Asking for help can be difficult at work because many organizations have a stigma against asking for help, he said during The Wall Street Journal “Women in the Workplace” forum in San Francisco on Tuesday. For some, there is fear it will be considered a sign of weakness. Others don’t ask because they don’t know who to ask, he s

Derik Sutton Named to Association for Financial Technology’s Web Board

October 15, 2019
20-year digital banking veteran voted into leadership role to support organization’s growth

DETROIT—(BUSINESS WIRE)—Autobooks is a small business payment and accounting platform integrated within a financial institution’s digital banking experience. Today, the company announced that Derik Sutton, vice president of product & experience at Autobooks, has been elected to serve on the Association for Financial Technology’s (AFT) Web Board. Sutton previously served as vice-chair of the organization’s Digital Experience Group (DEG).

.@Autobooks_ announced today that @deriksutton was elected to serve on @AFTWeb’s Board.

Tweet this

Founded in 1972, AFT is the premier resource for networking and professional development for companies and executives serving the United States financial institutions, including banks, credit unions, lenders and payment companies. The association represents members within every area of technology, data or services needed to help financial institutions succeed in today’s dynamic marketplace. Leading financial technology companies from around the world meet twice a year to discuss industry-wide issues and collaborate on solutions.

Brian Otte, president of Association for Financial Technology and director of sales for ProfitStars ®, a division of Jack Henry & Associates, In

Genomenon’s Mastermind to be Integrated into SOPHiA Platform and Alamut Suite

October 15, 2019

Genomenon® announced today at the American Society of Human Genetics Annual Meeting (ASHG) a partnership with SOPHiA GENETICS that includes incorporating the Mastermind® Genomic Search Engine into the SOPHiA Platform and the Alamut Suite. The partnership puts the most up-to-date genomic research at the fingertips of clinical researchers performing genomic analysis worldwide.

The SOPHiA Platform is the technology of choice for streamlined Data-Driven Medicine, including clinical-grade genomic analysis, interpretation, and reporting. SOPHiA has been adopted by 1,000 healthcare institutions to date and analyzed more than 420,000 genomic profiles - 16,000 new profiles processed each month. The Alamut Suite powered by SOPHiA is a decision-support software designed to explore and investigate variations of the human genome. Alamut helps clinical researchers in the complex tasks of genomic variants annotations, filtration, and exploration.

With the addition of Mastermind, users of both technologies will be able to quickly access the genomic evidence associated with human variants, shortening the search time required to interpret a variant and assess its pathogenicity.

This partnership will allow SOPHiA’s users to see a wider picture of the detected

University of Michigan launches record 22 startups in FY2019

KURT NAGL / October 14, 2019

University of Michigan faculty member Peter Adriaens rings the Tech Transfer bell last year as Greg Peterson and Tad Slawecki of LimnoTech applaude. The three are partners in Equarius Risk Analytics, the first fintech company started at the university.

  • UM’s startup portfolio raised a total of $643 million in FY2019
  • Startups span health care, IoT, hardware and material sciences sector
  • University earned $16.3 million in licensing revenues

24 Semi-Finalists Named For $1 Million Accelerate Michigan Innovation Competition

Mike Brennan / October 14, 2019

DETROIT – Twenty-four semi-finalists were announced Monday for the 10th annual Accelerate Michigan Innovation Competition where the top prize is $350,000.

The semi-finalists were drawn from nearly 300 registered companies. These semi-finalists will have the opportunity to meet-on-one with investors to discuss their business proposals. Judges will then select six finalists to present live at a seated dinner to more than 400 investors, entrepreneurs and community leaders on November 13 at the State Savings Bank in Detroit. 

“The selected semi-finalists showcase the momentum of Michigan’s entrepreneurial ecosystem over the past decade,” said Martin Dober, senior vice president and managing director of ID Ventures. “Each year, we see more incredible talent and companies that are transforming the way legacy industries operate. We are proud to support the development of these Michigan-based companies that will continue to drive our economy and shine a national spotlight on the innovation happening in the state.”

 The pitch competition supports Michigan’s entrepreneurial ecosystem by offering entrepreneurs the opportunity to showcase their companies to investors while building connections with entrepreneurs, business acceleration resources and experts in their sector during carefully curated individual meetings. Since its launch in 2010, Accelerate Michigan Innovation Competition semi-finalists have created over 1,300 jobs and attracted more than $900 million in additional investment. Top awards include a

The benefits of grouping houseplants together

Melissa Breyer / October 11, 2019

Strategically clustering indoor plants in a group is a great idea, here’s why and how to do it.

While there is something to be said for a lone statement plant in a room – like a giant Monstera deliciosa in the corner or a big frondy palm on a side table – there is perhaps more to love about clusters of houseplants. Even in a minimalist home, a collection of plants together doesn’t read as clutter so much, but rather a lush whole made of similar parts.

In the wild, plants group themselves together naturally based on their requirements; so why not provide them the same consideration when having them in the home? Grouping plants together that thrive in similar conditions, and thus have the same care needs, makes it extra easy to tend to them.

ONL Therapeutics Announces First-In-Human Clinical Study with ONL1204

Globe Newswire / October 10, 2019

Lead candidate ONL1204 advances into Phase I clinical study in retinal detachment in Australia

ANN ARBOR, Mich., Oct. 08, 2019 (GLOBE NEWSWIRE) — ONL Therapeutics, Inc., a biopharmaceutical company developing novel therapies for protecting the vision of patients with retinal disease, today announced the initiation of the company’s First-in-Human trial with its lead drug candidate ONL1204. The study is being conducted in Australia at leading clinical research centers in Sydney and Melbourne. The study will assess four different doses of ONL1204 and is designed to demonstrate safety and tolerability of the investigational drug in patients with a macula-off rhegmatogenous retinal detachment (RRD).

“Today marks a major milestone in the history of ONL Therapeutics as we transition into a clinical-stage pharmaceutical company,” commented David Zacks, MD, PhD, Founder and Chief Scientific Officer of ONL Therapeutics. “We see great potential in the role of Fas inhibition to protect the vision of patients with retinal cell disease, and our first-in-human study with ONL1204 helps build the foundation to make a meaningful difference in the lives of patients.”

ONL1204 has been granted orphan drug designation for the treatment of retinal detachment by the United States Food and Drug Administration (FDA). The Company is embarking on a Series B round of financing to continue funding its clinical development plans for ONL1204 and expand the development

Can Anti-TNF Drugs Reduce Alzheimer’s Risk?

Judy George, Senior Staff Writer / October 10, 2019
Analysis of 56 million patients hints at possible connections

Systemic inflammatory diseases involving tumor necrosis factor (TNF) increased the risk of Alzheimer’s disease, but that risk was reduced in patients who used anti-TNF biologics, an analysis of 56 million adults’ electronic health records showed.

While rheumatoid arthritis increased Alzheimer’s risk, it was reduced in patients taking etanercept (Enbrel), adalimumab (Humira), or infliximab (Remicade), according to Rong Xu, PhD, of Case Western University in Cleveland, and co-authors.

View source version on MedPage Today: https://www.medpagetoday.com/neurology/alzheimersdisease/82589

Congenica to Integrate Genomenon’s Mastermind into its Clinical Decision Support Tool

Clinical OMICs / October 10, 2019

Two new reference data sources, Mastermind and DECIPHER, are being added to Congenica’s clinical decision support platform for genomic data interpretation.  Genomenon’s Mastermind, which is used by hundreds of genetic labs worldwide, has indexed nearly 7 million full text articles and 500,000 supplemental data sets and covers over 4.9 million variants found in the medical literature. DECIPHER contains disease-causing variants from over 33,000 rare disease patients.

“Mastermind brings a new dimension to the Congenica platform, aiding variant interpretation by reducing the manual effort required to curate the rapidly growing body of genomic research, improving the likelihood of finding key genetic insights that could be critical for diagnosis,” said Da

Saline maker of breathable mouthguards celebrates 10 years

Dana Affana / October 10, 2019

SALINE, MI — What started as a physician’s idea to help protect patients’ teeth has grown into a decade-old business that supplies oral safety equipment to sports teams all over the country.

Saline-based Akervall Technologies marked its 10-year anniversary last month, celebrating the successful development of an idea to create a more manageable mouthguard.

Read the full article in the MLive: https://www.mlive.com/news/ann-arbor/2019/10/saline-maker-of-breathable-mouthguards-celebrates-10-years.html

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