As the seasons change from summer to fall, it seems a good time to take a look at the changes in Michigan’s business status. It wasn’t long ago we were hearing the same message over and over again: Michigan needs to attract more venture capitalists for business success. But that wasn’t happening, even before the Great Recession, and certainly not during it. Today, we’re hearing a different message that’s resonating throughout the state. Tim Peterson, managing director of Arboretum Ventures, a VC firm focused on healthcare, sums it up in our Focus on Tech feature article when he says the number of VCs in the state has grown significantly in the last 10 years.
Our Focus on Tech writer Ilene Wolff takes a close look at how some national venture capitalists are impressed with what’s happening in Michigan and are establishing offices here: Baird Capital and Cultivian Sandbox Venture Partners, to name a couple. You’ll read about the companies that are being funded, including ProNAi, a biopharmaceutical firm that secured the largest round of VC money in Michigan’s history this year.
And there are more success stories, including HistoSonics, featured in our Business Profile. The company is striving to be the market leader in non-invasive surgery technology and is making its mark with histotripsy, a non-invasive soft tissue surgical technique developed at the University of Michigan.
Another important angle of the region’s growing medical industry is patents — critical company assets for creating and maintaining an advantage in the market. Our People Profile features patent agent Stephanie Mansfield, who shares her expertise in obtaining patents for medical and biomechanical devices, engineering tissues and healthcare products.
On a lighter note, if you’re interested in exploring Ann Arbor this fall — beyond the world of football — you’ll get some great ideas from writer Susan R. Pollack, whose seven-item sampler of things to do in this dynamic city is featured in our Lifestyle article.
Enjoy this issue of X-OLOGY Magazine. And visit our website — XOLOGYMagazine.com — for more tech-focused topics.
Jane Racey Gleeson