SemiNex Awarded STEP grant to bolster the company's international growth

Jan. 22, 2014

Peabody, MA--Laser-diode maker SemiNex has been awarded a grant for international marketing and business development through the State Trade and Export Promotion program (STEP), which is funded by the U.S. Small Business Administration (SBA).

Peabody, MA--Laser-diode maker SemiNex has been awarded a grant for international marketing and business development through the State Trade and Export Promotion program (STEP), which is funded by the U.S. Small Business Administration (SBA). The intent of the STEP program is to help offset international business development and related marketing costs for small businesses such as SemiNex. In SemiNex's case, STEP administered by the Massachusetts Office of International Trade and Investment.

SemiNex used the funds in 2013 as a first-time exhibitor at the World of Photonics exhibition in Munich, Germany. “STEP funding allows SemiNex to extend its marketing reach and invest in new growth areas," says Neal Stoker, vice president of sales and marketing. "We have already closed several new opportunities and have a number of new customer pursuits underway as a result of this stepped-up international funding.”

SemiNex produces high-power laser diodes in the 1300 to 1700 nm wavelength range in packages that include submounts, fiber coupled devices and multichip modules. The lasers are intended for medical, home-use medical, LIDAR, short-wave IR (SWIR) illumination, targeting, and rangefinding applications.