Advanced Lighting Company Graduates From Muskegon Energy Incubator
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.
With a growing work force and doubling 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 Friday, Aug. 19, and re-open Monday, Aug. 22, in a new location at 2359 Holton Road in Muskegon.
"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.
Boezaart said the expertise of MAREC's in-house business consultants from the Michigan Small Business and Technology Development Centers, the innovative and collaborative atmosphere at the incubator, and the extensive resources available through the MAREC's affiliation with Grand Valley State University "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 networking with other incubator tenants has helped us promote our small company as an innovator and leader in the industry," said Bobby Segraves, SVL sales manager.
SVL total sales in 2010 were $1.7 million, with about 40 percent of sales outside the United States. Segraves said the company anticipates sales between $10 million and $20 million within the next three to five years, and plans to expand the work force to 25 people. SVL 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.
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.
More at www.smartvisionlights.com.
The MAREC 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 and institutional resources to create a successful, collaborative environment and achieve its vision of energy and technology development for a sustainable economy in West Michigan and beyond. Learn more at www.gvsu.edu/marec.
