Xconomy: Fluke or Trend? One Investor Reflects on HealthMedia Acquisition ---Sees Promise, but Not Critical Mass, in Michigan Innovation Ecosystem
Summary
One Investor Reflects on HealthMedia Acquisition —Sees Promise, but Not Critical Mass, in Michigan Innovation Ecosystem Xconomy Detroit/Ann Arbor — One exit does not a trend make.In fact, Chrysalis’ current portfolio only includes one local startup: Asterand Management in Detroit, which provides tissue samples to biotech researchers.“We find Michigan to be a good place to start a business,” says managing director Koleman Karleski “The state has plenty of great assets.That’s true even in Ann Arbor, where the University of Michigan is developing a wide swath of intellectual property in medical devices, software, IT, and clean energy.Placing bets on several technologies sounds like a good thing, but does a lack of critical mass in any one high tech industry hurt Michigan’s ability to attract a consistent flow of venture capital dollars?
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