Nanomoneo, a biotechnology instrument company, will locate its new applied research operation at the University of Arizona Center for Innovation in Tucson, Arizona.
The company plans to hire 14 people over the next five years, including research scientists, engineers and research support. The total economic impact is estimated at $17 million.
Nanomoneo selected Tucson as best meeting its needs for future high-growth plans, officials noted. The company will be located at the UA Center for Innovation at the UA Tech Park at Rita Road. The UA Center for Innovation (UACI) provides space and incubation programs for scalable science and technology startups to develop their technology and business and scale operations quickly.
Juliann Talkington, President of Nanomoneo, says it was a competitive process and the company is thrilled to be in Tucson. “We selected Tucson as our home, over several other locations because of the technical infrastructure, services available to early stage companies, reasonable regulatory environment, and social stability. Since we made the decision to locate in Tucson, we have been impressed by what the University of Arizona Center for Innovation and Sun Corridor Inc. have done to help us integrate into the community.”
“Nanomoneo selecting to launch its business at UACI, reinforces Tucson’s appeal as One of Ten Best Cities for Startup Costs compared to other markets across the nation. Couple that with the direct access to a qualified workforce and a network of growing tech companies that are all poised for success. We are connecting them to the community and the talented pipeline of University of Arizona graduates. We understand that finding the best talent to build their scaling teams is what keeps CEO’s awake at night and that is our super power when marketing this region,” stated Carol Stewart, Associate Vice President, Tech Parks Arizona, University of Arizona.
“We’re thrilled to attract a company focused on developing an exciting technology in a key, targeted industry,” added Joe Snell, President & CEO, Sun Corridor Inc. “Nanomoneo represents another building block as we emerge as a leading biotech hub.”
According to state officials, the newly formed, venture capital-backed company is working on solutions that allow consumers to “see” things that are not normally visible with the naked eye.
“Nanomoneo is a great fit for UACI and Tucson. The choice to locate their company here shows that Tucson is rapidly becoming a destination for startups looking to thrive in a supportive community. We look forward to supporting this team. They bring great energy to an already dynamic mix of technology entrepreneurs who work here side by side in a fast-paced, collaborative and creative environment,” expressed Eric Smith, Executive Director of UACI.