AlphaLab Gear, the hardware-focused startup accelerator from Pittsburgh-based seed stage investor Innovation Works, will soon have a new managing director for hardware, a position that's tasked with leading the organization.
Mike Formica, a serial entrepreneur and current CEO of Pittsburgh robotics company Neya Systems LLC, will take on the new role by the beginning of February as he wraps up his position at Neya, where he's been for nearly four years. He also currently serves as an adjunct professor at Carnegie Mellon University's school of engineering and teaches a class he created titled "Engineering a Startup: How to Start and Grow a Hardware Company."
In 2007, Formica founded and served as the CEO of threeRivers 3D, a Pittsburgh company that designs, builds and manufactures standard and custom 3D scanners capable of quickly generating 3D models from real-world objects. He's also had experience serving as the CEO at one of the region's first autonomous vehicle companies, AssistWare Technology, a spinout from CMU that developed the world's first commercial lane departure warning system, which went on to be acquired by Cognex Corp. (NASDAQ: CGNX) in 2006 and then later by Japan-based Takata Corp. in 2008.
Other companies he's worked at include Palomar Technologies, Axsys Technologies and Aerotech Inc. Throughout his career, Formica has led three companies to exits.
Formica isn't new to the Alphalab Gear ecosystem and has been involved with it since its launch, serving as a volunteer mentor starting in 2013 to help startups refine their business models and scale.
"Mike has shown his commitment and passion for helping entrepreneurs as he has been one of the most active and giving mentors for AlphaLab Gear since its inception and has helped numerous companies in the region on critical technical, manufacturing and go-to-market issues," Jim Jen, chief operating officer at IW and managing director of software and AlphaLab, said in a statement. "(He) brings an important background and experiences to help drive IW’s strategy in hardware, robotics and manufacturing and support entrepreneurs building such companies in the region."
Formica obtained a master's equivalent degree in nuclear engineering from the U.S. Navy Nuclear Power School's Officer Program. He also obtained a bachelor's degree in electrical engineering from the University of Pittsburgh.
