ThermoAnalytics, Inc.
An engineering company specializing in thermal simulation software turns to MEDC for operational support
Started by eight engineers, ThermoAnalytics, Inc. (TAI) is a software development and engineering company that specializes in thermal simulation software. The company develops cutting-edge software tools that enable engineers to simulate and optimize thermal performance across a wide range of applications, from the automotive to aerospace industries. Their products for thermal analysis allow engineers to ensure product efficiency, reliability, safety, and comfort.
ThermoAnalytics invests in finding solutions to challenging problems that their customers encounter. Their own engineers actively utilize their own software in their daily workflows, allowing them to gain a deeper understanding of real-world engineering problems and continuously enhance and adapt their software.
In 2005, four years after establishing an Employee Stock Ownership Plan (ESOP), ThermoAnalytics was named a Michigan 50 Companies to Watch by Michigan Celebrates Small Business (MCSB) at the first annual MCSB Awards Gala. Now, MCSB is the largest small business awards program in the state of Michigan and one of the most prestigious cohorts of small businesses in the nation.
Twenty years later, ThermoAnalytics is entirely employee owned and continues to engage in the small business community, turning to the Michigan Economic Development Corporation (MEDC) to fill in operational gaps. The MEDC offered financial support to the company through grants and strategic resource allocation that allowed the company to engage with their customers better. The MEDC also helped ThermoAnalytics with labor law compliance and talent acquisition as the company expanded in size.
For other small business owners, President/CEO Bobbi Wood shares some advice: “The cornerstones of success in any endeavor are staying focused on your passion, hiring the right people, building a strong company culture by taking care of your team, prioritizing customer needs, and embracing change. Remaining committed to your vision and nurturing a team that shares your dedication builds a solid foundation for growth and innovation within your company.”
Moving forward, ThermoAnalytics seeks to continue to expand into new markets. Last year, the company opened their Tokyo office and MEDC helped the company identify crucial business resources in Japan and facilitated the successful setup of their subsidiary company.
ThermoAnalytics understands the challenges that may arise when expanding globally, so they plan to continue working with MEDC to access valuable market resources, identify strategic partners and refine their market entry strategies that will ensure the company’s international expansion.
Learn more about the small business services and resources available from the MEDC.