2010 – Page 11 of 78

Adrenaline Commerce gains traction in e-commerce

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October 27, 2010

Joe Minock really liked the name Adrenaline Commerce for his new startup, but like turned to love when he saw the URL was still available. One year later the Ann Arbor-based e-commerce firm is gaining traction, and, getting ready to make its first hires.Adrenaline Commerce, which calls the Tech Brewery home, creates software platforms for businesses to sell their products online. Minock and his team of four (two co-founders and two independent contractors) saw a need to help small businesses that normally don't have anything to do with the Internet expand into the venue.One of those companies is Riders Hobby Shop. The Ypsilanti-based retailer of model planes and the like formerly had just a simple, static webpage. Adrenaline Commerce is about to help the retailer put its entire catalog of products online later this year."We'll have about 7,000 products online when we launch," Minock says.Projects like this and more have allowed Adrenaline Commerce to grow its budding business by 100 percent over the last four months. Minock expects that to continue, which should allow him to bring the two independent contractors on as employees within the next year."We've seen strong growth going forward," Minock says. Source: Joe Minock, co-founder of Adrenaline CommerceWriter: Jon Zemke

Cerenis Therapeutics lands $14M in VC

By Newsroom

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Economic Development

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October 27, 2010

If there is one thing Cerenis Therapeutics doesn't lack for, it's venture capital. The Ann Arbor-based drug development company just landed $14 million, its second VC investment this year, bringing its total venture capital take to $65.6 million for 2010.Most of that money will go toward Cerenis Therapeutics' latest venture, which is creating and commercializing the first synthetic HDL, the so-called good cholesterol. The idea is to create a new way to remove plaque from heart tissue. The 5-year-old firm just finished its Phase 1 clinical trial and plans to begin a proof-of-concept study early next year."That's enough money for us to complete the proof of concept study and other HDL programs," says Bill Brinkerhoff, COO of Cerenis Therapeutics. Cerenis Therapeutics has 26 employees, half of whom are in Ann Arbor and the rest are in France. It has made two hires in Ann Arbor over the last six months. Its growing staff is made up mostly of ex-Pfizer employees who specialized in HDL programs (drugs) similar to Cerenis Therapeutics' current products. "I think we will continue to grow as we develop the programs," Brinkerhoff says.Source: Bill Brinkerhoff, COO of Cerenis TherapeuticsWriter: Jon Zemke

Nightmare On Brandywine Street

By Constance Crump

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Community Development

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October 27, 2010

'Tis the season to eat, drink and be scary. Halloween brings troops of trick or treaters to Ann Arbor's neighborhoods and, on one quiet residential street, Brandywine Cemetery opens its haunted gates. The evil brainchild of former Disney animator Robert Beech, it attracts hundreds of locals every year. Concentrate's Constance Crump takes an early tour of its ghoulish grounds.

Concentrate Speaker Series: A Shadow Art Community

By Concentrate Staff

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Arts and Culture

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October 27, 2010

Ypsilanti has developed a rep for being the place for local artists and do-it-yourself creatives. The Shadow Art Fair has played no small part in making this happen. Concentrate's Speaker Series has invited the organizers --members of the Michigan Design Militia-- to talk about their experiences and what their success means for our region's future. Sign up now for this November 10th event!

MASTERMIND: Bena Burda

By Kelly Quintanilla

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Arts and Culture

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October 27, 2010

Necessity is the mother of invention. In search of a bluer corn chip, Bena Burda ended up founding Maggie's Organics. Eighteen years later the company is still going strong, setting the bar for eco and social responsibility.

More Innovation & Growth News from across Metro Detroit at SEMichiganStartup.com

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General

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October 21, 2010

If you're interested in Innovation & Growth News from throughout Metro Detroit, do yourself a favor and check out our sister publication called SEMichiganStartup.com. Startup covers Innovation & Growth News from Ann Arbor to Royal Oak to Mt. Clemens in its weekly online magazine, which publishes each Friday. You can also sign up for email alerts on your favorite startups and entrepreneurs here.

Business Insider ranks Ann Arbor as Top 20 Most Innovative City

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Entrepreneurship

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October 20, 2010

Ann Arbor makes yet another list: This time Tree Town has been ranked as one of the Top 20 Most Innovative Cities in the U.S. by Business Insider. It joins the ranks of Raleigh, N.C., and Los Angeles.Excerpt:Are you having a mental block? Maybe it's not you, it's the city you're in.Innovation analysts at 2thinknow released a list of the most innovative cities in the world. They evaluated 289 cities based on three factors: cultural assets, human infrastructure, and networked markets.Cities were ranked on a one to ten scale in each category for a total possible index score of 30. Once index numbers were determined, cities were given the label of "node," "nexus," or "hub."Christopher Hire, executive director of 2thinknow, explains the process:"Cities that have a high index score are nexus cities, followed by hub then node cities. A node city is a globally “competitive” score, so all cities should aim to be node cities. Node means they are hooked into global networks and connected to the backbone of the global innovation economy.Read the rest of the story here.

Ypsilanti’s Clean Energy Coalition gives out $4.4M in building retrofit grants

By Newsroom

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Community Development

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October 20, 2010

Ypsilanti's Clean Energy Coalition will be funneling $4.4 million in grant money to seven distressed Michigan cities for clean energy programs.Pontiac, Hamtramck, and Highland Park are among the cities receiving funds from the Michigan Public Service Commission through the "Cities of Promise" program. Cities will receive $463,000 for installation of renewable energy technology and setting up a revolving energy fund to pay for the energy management support and future investments.Joshua Brugeman, a divison manager with the CEC, says the initial money helps distressed cities overcome two key hurdles: not having capital for the investments, and not having the budget to pay a staff person to manage them. "We provide them with that initial seed capital to improve their buildings from an energy perspective, establishing an ongoing program and revolving energy fund, to turn that initial seed capital into future investments," he says.Although the cities are distressed, it's still important to invest in energy because of the savings and jobs it could create long-term, says Jenny Oorbeck, also a CEC division manager. And the funded staff person is also important: "You need someone who knows what they're looking at," she says. "We feel like we're doing the right thing for them, helping them put their arms around the data they need to understand and set up a program going forward."The CEC is still working out the details of what the final investments will be. Also, some cities, including Pontiac and Hamtramck, received federal stimulus money, so the CEC can co-invest with that funding to create a more robust program.The CEC, a non-profit organization that works with both public and private partners for smart energy strategies, has also subcontracted with the company Planet Footprint to keep tabs on the energy usage and savings for the cities, which will help them make informed decisions about their energy projects.Other cities receiving funds are Benton Harbor, Flint, Muskegon Heights, and Saginaw. All seven cities are part of the Michigan State Housing Development Authority's Cities of Promise program, a program created in 2006 to help redevelopment in distressed urban cities.Sources: Jenny Oorbeck and Joshua Brugeman, division managers for Clean Energy CoalitionWriter: Kristin Lukowski

Adeona Pharma does $17.5M deal with Swedish drug maker Meda; seeks more partnerships

By Newsroom

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Economic Development

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October 20, 2010

Corporate partnerships are the key words when it comes to Adeona Pharmaceuticals' future potential.The Ann Arbor-based drug development firm locked up a $17.5 million deal with Swedish drug maker Meda. Adeona Pharmaceuticals has five drugs in various stages of development and hopes to form another similar corporate partnership or two this year."The drugs are extremely exciting," says James Kuo, chairman and CFO of Adeona Pharmaceuticals. "They address the needs of large pharma."The 7-year-old company specializes in drugs that address problems in the central nervous system, such as multiple sclerosis and Alzheimer's, licensing those at the clinical stage to large pharmaceutical companies. It currently has a dozen employees and a few independent contractors, up from a headcount of seven early last year.Source: James Kuo, chairman and CFO of Adeona PharmaceuticalsWriter: Jon Zemke

Plymouth Venture Partners Fund II makes first investment, looks to reach $30M in size

By Newsroom

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Economic Development

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October 20, 2010

Plymouth Venture Partners Fund take two is now in action, making the first investment for the Ann Arbor-based venture capital firm's second fund.Plymouth Management Company invested in Lansing-based IDV Solutions, which creates business intelligence software called Visual Fusion. It's the first investment of what Jeff Barry, partner of Plymouth Management Company, expects will be 20 deals in growth-stage companies over the next 3-4 years for this fund."We expect to do 1-2 more investments before the end of the year," Barry says.The 7-year-old VC firm now has five employees and two interns after adding a new partner over the last year. So far the firm has raised $16 million for Plymouth Venture Partners Fund II, which it expects to grow to $30 million in size. The company invests in second-stage, Michigan-based firms that are creating scalable technologies in areas like software, medical devices, or advanced manufacturing. Some of its previous investments include Accuri Cytometers, Incept BioSystems, and Janeeva.Source: Jeff Barry, partner of Plymouth Management CompanyWriter: Jon Zemke