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MAREC incubator tenant launches business expansion
Date: August 18, 2011
Smart Vision Lights doubles sales each year, moves to own location
Contact: Leah Zuber, GVSU News and Information Services, (616) 331-2221
MUSKEGON, Mich. — An advanced energy-efficient lighting applications manufacturer has completed a successful three-year stay in the business incubation program at Grand Valley State University’s Michigan Alternative and Renewable Energy Center (MAREC).
With a growing work force and doubling of sales every year since entering the incubator program, Smart Vision Lights exceeded its start-up goals and has outgrown the incubator space at MAREC. The company will move to a new stand-alone manufacturing facility in Muskegon on Friday, August 19, and re-open Monday, August 22, in a new location at 2359 Holton Rd. in Muskegon. (Preview)
“We are very pleased that we have been able to assist Smart Vision Lights with the growth and development of their business,” said Arn Boezaart, director of MAREC. “The expertise provided by our in-house MI-SBTDC business consultants, the innovative and collaborative atmosphere at MAREC and the extensive resources available through our affiliation with GVSU provides our incubator clients great opportunities for success.”
Smart Vision Lights started with one employee in 2007 and now has eight employees. “MAREC’s positive and professional image and the networking opportunity with other incubator tenants has helped us promote our small company as an innovator and leader in the lighting industry,” said Bobby Segraves, SVL sales manager.
Segraves notes that SVL total sales in 2010 were $1.7 million, with about 40 percent of sales outside the U.S. The company anticipates sales between $10-20 million within the next three to five years, and plans to expand its work force to 25 people. Smart Vision Lights will continue to use LED lights to support high-speed photography for industrial applications and begin work on a project that involves designing lights that will appear on license plates for automobile identification.
About Smart Vision Lights
Smart Vision Lights develops and manufactures machine vision lights for the advanced lighting industry. The company boasts 80 distributors worldwide and serves customers including Ford, General Motors, Chrysler, BMW, Volkswagen, Heinz, Proctor & Gamble and Johnson & Johnson. The products feature high current LEDs and an intelligent driver in every light. Learn more at www.smartvisionlights.com.
About MAREC Business and Technology Incubation Program
The MAREC business incubation program supports the commercialization of innovative technology with both existing and new companies, and promotes the application and use of alternative, clean and renewable energy sources. MAREC has the community linkages and institutional resources to create a successful, collaborative environment that can support start-up companies. MAREC is committed to helping to build a sustainable economy in West Michigan and beyond. Learn more at www.gvsu.edu/marec.
For more information, contact GVSU News and Information Services at (616) 331-2221 or Bobby Segraves at email@example.com.