Managing Director of Hardware and AlphaLab Gear
Mike Formica has led multiple startups to successful exits as a founder and CEO. He has over 25 years experience accelerating company growth through new product development that is driven by a customer-centric approach and anchored by a commitment to strong manufacturing.
Mike was Founder and President of 3Rivers3D, one of the largest manufacturers of high precision 3D imaging systems. Leveraging in-house manufacturing and a local supply chain, 3Rivers3D experienced explosive growth and produced thousands of units annually out of their Pittsburgh headquarters.
Prior to 3Rivers3D Mike was CEO of AssistWare Technology. There he commercialized and launched SafeTRAC, one of the industry’s first commercial lane departure systems. AssistWare produced hundreds of thousands of units to the worldwide trucking industry.
Mike’s first startup was Axsys Fiber Automation. They pioneered the use of computer vision in fiber optic assembly. In two years time the group developed and launched 5 new robotic assembly, test and inspection machines. Most recently Mike was President of Neya Systems, a developer of autonomous off-road vehicles. Initially a DoD focused provider, Mike led the expansion into commercial markets leading to large growth in the mining and construction industries.
Mike has won numerous awards, including: PA Governor’s Entrepreneur ImPAct Award, Ernst & Young Entrepreneur of the Year Finalist, Business Times Manufacturer of the Year, a Carnegie Science Entrepreneur Award, a Best Places to Work Award, and several Industry Best Product Awards.
Mike is a former US Navy Nuclear Power Officer and a graduate of the Navy Nuclear Power School. He graduated with a BSEE from the University of Pittsburgh where he was an Honors College Scholar and was 4-time All Big East in Cross-Country and Track.
Mike has been highly active in the regional startup ecosystem. He has mentored numerous startups and frequently speaks at local events. He created and currently teaches a class at Carnegie Mellon’s School of Engineering titled “Engineering a Startup” which focuses on hardware-based product companies.