|By PR Newswire||
|February 14, 2014 06:00 AM EST||
ANN ARBOR, Mich., Feb. 14, 2014 /PRNewswire/ -- The University of Michigan's Zell Lurie Institute at the Ross School of Business today announced that its student managed Zell Lurie Commercialization Fund has made two investments. The fund provided pre-seed investments to healthcare startup AlertWatch and ad tech start up AdAdapted. The collective investments total $90,000 and closed in November 2013 and January 2014, respectively. The deals mark the latest in a series of successful investments by the fund (formerly the Frankel Fund), which includes Accio Energy, Ambiq Micro and Are You A Human in its portfolio.
The Zell Lurie Commercialization Fund is a student-led, pre-seed investment fund established to identify and accelerate the commercialization of ideas generated within the University community and the surrounding area. A team of 25 graduate students manage the fund and are organized into four investment teams - health care, technology, consumer and cleantech investments. Each team may invest up to $100,000 per investment (in multiple installments) in entrepreneurial ideas with great potential and a vision for the future. The process provides action-based educational experience for MBA and other graduate students in early stage company formation and evaluation. The Zell Lurie Commercialization Fund is part of a trifecta of student-led venture funds offered at Ross, including the pioneering Wolverine Venture Fund and Social Venture Fund.
"The Zell Lurie Commercialization Fund is as close to a real-world investing experience as any MBA student could possibly receive," said Stewart Thornhill, director of the Zell Lurie Commercialization Fund and executive director of the Zell Lurie Institute. "Both of these investments demonstrate the strength of the local startup scene and represent the power of the greater U-M community to foster growth within the region. AlertWatch and AdAdapted both have tremendous promise to transform their respective industries and deliver a return on our investments."
U-M Spinout AlertWatch Aims to Increase Patient Safety
AlertWatch, Inc. is an Ann Arbor-based spinoff from the University of Michigan Health System that produces clinical decision support systems for hospitals. Founded in 2011, AlertWatch simplifies patient monitoring with intuitive products for operating rooms and intensive care units by displaying vital data to doctors in an easy-to-understand format that could help increase patient safety. AlertWatch was founded by Dr. Kevin Tremper and is led by CEO Justin Adams, a University of Michigan BSEE '01 and MBA '09.
"The Fund's investment in AlertWatch is a great example of the immense talent available here in the Ann Arbor area. Not only do we have top notch technologies being developed here at The University of Michigan, but we also have management teams capable of growing and developing very impressive companies," said Chris Doughty, MBA '14 and the Zell Lurie Commercialization Fund student lead on the deal. "The opportunities for venture capital investments in Ann Arbor are immense and will continue to attract attention from venture capital firms around the country."
AlertWatch's close ties to the Ann Arbor area, their strong management team and the potential return on the Fund's investment make it an ideal investment. The Fund became aware of AlertWatch through its close relationship with U-M's Office of Technology Transfer (OTT), which also proved to be a valuable source of information during the due diligence process. Since the investment was made in late 2013, AlertWatch has made significant progress on pilot testing, co-marketing partnerships and data showing improved health outcomes, and the company learned this month that it has achieved FDA 510k approval status, one of the key milestones outlined in the Fund's deal with AlertWatch.
Doughty also noted the benefits of the valuable educational experience from working on the Fund's investment. "As a student, I found the opportunity to work closely on a deal to be an extremely valuable experience. While conducting due diligence is critical when evaluating a deal, the investment team's relationship with the company is even more important. My biggest takeaways from this experience are to make sure you work well with the management team of the company you're investing in and to remember why you're investing. If you believe in the company and its management team, your investment will be successful."
AdAdapted to Transform In-App Mobile Advertising
Ann Arbor-based AdAdapted offers a platform that automates the native advertising model for advertisers that want to reach mobile app users via dynamic, customizable, non-disruptive, product placement opportunities within mobile games and apps. With AdAdapted, advertisers can launch scalable, trackable, custom branded campaigns across a wide variety of apps without duplicating efforts with each publisher.
The investment in AdAdapted marks the Zell Commercialization Fund's first investment in the rapidly-growing ad tech sector and was led by Ray Gallagher, MBA '14. Prior to this round, the year-old start-up received financing from the Michigan Micro Loan Fund in October 2012 and won the first place award of $2,000 in the New Business Ideas category of the Great Lakes Entrepreneur's Quest business plan competition at ACE '13.
Companies and individuals interested in obtaining funding from the Zell Lurie Commercialization Fund may find additional details about the application process on the Institute's website at www.zli.bus.umich.edu.
About the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies
The Institute and its Center for Venture Capital and Private Equity Finance bring together a potent mix of knowledge, experience and opportunities from the front lines of entrepreneurship and alternative investments. The student learning experience is further enhanced through internships, entrepreneurial clubs and events that serve to provide viable networks and engage the business community. The School's three student-led investment funds, with over $6.5M under management, immerse students in the business assessment and investment process. Founding Board Members include Samuel Zell, Chairman of Equity Group Investments and Eugene Applebaum, Founder of Arbor Drugs, Inc. For more information, visit the Institute at www.zli.bus.umich.edu.
About the Stephen M. Ross School of Business
The Stephen M. Ross School of Business at the University of Michigan is a vibrant and distinctive learning community grounded in the principle that business can be an extraordinary vehicle for positive change in today's dynamic global economy. The Ross School of Business mission is to develop leaders who make a positive difference in the world. Through thought and action, members of the Ross community drive change and innovation that improves business and society.
Ross is consistently ranked among the world's leading business schools. Academic degree programs include an MBA, Part-time MBA (Evening and Weekend formats), Executive MBA, Global MBA, Master of Accounting, Master of Supply Chain Management, Master of Entrepreneurship, Master of Management, BBA, and PhD. In addition, the school delivers open-enrollment and custom executive education programs targeting general management, leadership development, and strategic human resource management.
SOURCE Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Dec. 4, 2016 08:30 PM EST Reads: 1,795
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Dec. 4, 2016 07:00 PM EST Reads: 4,898
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Dec. 4, 2016 06:30 PM EST Reads: 2,161
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Dec. 4, 2016 06:30 PM EST Reads: 2,024
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 4, 2016 06:30 PM EST Reads: 546
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Dec. 4, 2016 06:00 PM EST Reads: 1,534
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
Dec. 4, 2016 05:45 PM EST Reads: 1,515
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Dec. 4, 2016 04:45 PM EST Reads: 1,638
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 4, 2016 04:15 PM EST Reads: 604
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 4, 2016 04:15 PM EST Reads: 4,157
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Dec. 4, 2016 03:00 PM EST Reads: 3,250
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
Dec. 4, 2016 03:00 PM EST Reads: 2,523
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Dec. 4, 2016 02:15 PM EST Reads: 2,000
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
Dec. 4, 2016 02:00 PM EST Reads: 933
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Dec. 4, 2016 02:00 PM EST Reads: 1,903