TechArb, the business incubator for students at the University of Michigan, is getting a new neighbor this week when Menlo Innovations begins moving its growing operation next door.
moved into a basement office the 505 E Liberty building next to the Michigan Theatre last year. Menlo Innovations will be moving in to a 17,000-square-foot space in the same building, close enough to literally reach out and touch the incubator.
"They will be on the other side of the glass from us," says Rich Sheridan, CEO of Menlo Innovations
. "Sharing that entrepreneurial spirit is very exciting."
Almost since its founding a decade ago, Menlo Innovations has been synonymous with its quirky Kerrytown office. However, the company outgrew its 6,000-square-foot space and not only needed room for future growth but wanted to maintain a presence in downtown Ann Arbor.
"It's not without a large amount of sadness that we're leaving here," Sheridan says. "We loved being here."
Menlo Innovations has just enjoyed its best revenue year ever. That growth is largely thanks to the software firm cashing in on the acquisition of Accuri Cytometers
, of which Menlo Innovations owned a stake. Menlo has hired six people over the last year, including one in April. Those new jobs include programmers, project managers and Menlo Innovations' registered trademark position, high-tech anthropologists.
"There is software in everything these days," Sheridan says. "(Our customers) really have to build a software team from scratch or look to an established team like us. That is compelling."
Source: Rich Sheridan, CEO of Menlo Innovations
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.