Alchemist Ventures has secured a contract at Sterling Heights' Velocity Collaboration Center, assisting with entrepreneurial services as start-ups and businesses pivot to meet COVID-19 challenges at the hub on 18 Mile Road.

The Sterling Heights Local Development Finance Authority (LDFA) has awarded the Macomb County-based business the role of providing entrepreneurial services focused on the areas of technology, engineering, and manufacturing development at Velocity. Alchemist Ventures launched in 2017 and will support all entrepreneurship activity hosted at the center, a designated SmartZone by the Michigan Economic Development Corporation.

“We are delighted to have the opportunity to serve the citizens and business owners of Sterling Heights and Macomb County,” said Alchemist Ventures founder Patrick Wearn. “We are eager to both share our expertise and learn from citizens, entrepreneurs, small businesses and large businesses to help drive innovation and growth across the region.”

The Velocity Center serves as a hub for business incubation in the region and the site includes a co-working space dubbed “The Element”, offices for rent, and conference rooms. The Element is also a newly launched initiative paid for by the Sterling Heights LDFA to assist in the remote working needs of small business and startups.

“The fundamental needs of start-up companies have changed. Today, they require more innovative services, access to talent, and more 'hands-on' support,” said Sterling Heights Senior Economic Development Advisor Luke Bonner.

“Likewise, existing businesses have a significant need to access talent in light of major labor shortages. The city’s economic development team has recommended the best course of action is to work with an incredibly experienced team of industry experts at Alchemist Ventures to make sure we’re meeting the needs of both start-ups and existing businesses in our community.”

“The Sterling Heights Regional Chamber of Commerce is proud to partner with and welcome Alchemist Ventures to the Velocity Center,” said Chamber President and CEO Stacy Ziarko. "Their success in growing businesses is exactly what our business community needs, especially now when many have had to change direction or chart a new course."