19. Vivid Technology
Prior to Vivid opening its doors in 2014, founder Samuel Marks says most of the lighting solutions on the market were “dumb”.
Revenue: $8.29 million
Growth: 149.67%
Founder: Samuel Marks (40)
Head Office: Melbourne, VIC
Employees: 29
Industry: Science and technology
Website: vividtechnology.com.au
Renewable energy company Vivid Technology has positioned itself at the centre of Australia’s clean energy boom, experiencing a 150% increase in revenue over the last three years, reaching $8.29 million in 2017-18.
Vivid isn’t the only renewable energy company on this year’s Smart50 list, highlighting how the market underpinning Australia’s electricity network is changing.
Founder Samuel Marks has honed in on energy-efficient lighting for industrial customers, helping businesses reduce their power bills in large warehouses, distribution centres, cold storage locations and on manufacturing sites.
As he explains, prior to Vivid opening its doors in 2014, most of the lighting solutions on the market were “dumb”.
“This segment was poorly serviced by cheap and unsuitable lighting products, which were primarily designed for commercial offices, and in addition, was ‘dumb’ lighting, with no intelligence built in to help provide control and maximum efficiency,” he says.
Marks’ solution was to develop in-house tech to help businesses create dynamic lighting solutions, saving them money.
Fast forward four years and business is booming, driving an appetite for expansion within the business, with a particular focus on new product verticals.
Marks even wants to take his business global, hinting at a possible partnership to distribute his in-house smart lighting technology in other markets.
“Vivid will continue to lead the disruptive charge, leveraging the intelligence and data analytic capability of our system to provide a level of unparalleled insights into our customer’s sites, allowing them to identify ways to maximise efficiency over and beyond lighting,” Marks says.
