The University of Arizona's Center for Innovation announced today that biotechnology company Nanomoneo has selected Tucson for its new research operation. Nanomoneo is a newly formed biotechnology instrument company associated with the fields of nanoparticles, sensors and organic molecules to allow consumers to “see things that are not normally visible with the naked eye."
Nanomoneo will be housed within the Center for Innovation and plans to hire 14 people during the next five years, including research scientists, engineers and research support. Its total economic impact on the Tucson area for that time is estimated to be $17 million.
While little information is currently available for Nanomoneo, the startup selected Tucson after a multi-state search for its operations because the city best meets its needs for future high-growth plans.
“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," said Juliann Talkington, president of Nanomoneo. "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."
The UA's Center for Innovation is a "startup incubator" that allows new businesses the space and resources for product development, as well as connections to university research.