Pelahatchie MS – June 26, 2017
Multicraft Ventures, LLC opens today in a newly renovated 40,000 sq. ft. facility in the Pelahatchie Industrial Park. Ventures is a design and engineering company that is staffed by executives from the Multicraft parent. The company functions as a launch platform that aims to work with entrepreneurs and inventors with developing products for market in a streamlined process.
Andrew Mallinson, CEO of Multicraft International, said, “Multicraft International has been a world class designer and manufacturer of sophisticated automotive electrical and electronic products in Mississippi since 1978. As we approach our fortieth year in business, we have taken advantage of dramatic changes in global business and technology and Multicraft Ventures was formed to enable our experienced engineers to apply their business and technical skills to develop new products both internally and in collaboration with independent entrepreneurs and inventors. Product realization is managed using our streamlined Multicraft Business System which utilizes product lifecycle stages to successfully bring new products and ideas to market.”
Paul Jones, President and shareholder said, “Ventures was formed to exploit new product opportunities in new markets and to create new business ventures in the state of Mississippi. We are actively developing our own products and business ventures, but a significant portion of our business model is built around taking all of our product development experience and attracting area entrepreneurs that have good product ideas but do not have the necessary resources for items such as proof of concept, intellectual property protection, marketing, manufacturing, etc. We aim to provide a private equity launch pad for new business development and we feel our model is unique not only in Mississippi but also regionally in the southeast.”
Multicraft Ventures has plans to release 4 new products over the next twelve months. These products, which were unveiled publicly for the first time today, include The Badger Head – a weed trimmer accessory system, a multi-use utility cart, a personal protection device co-developed with a former secret service agent, and The No Bored Game – new type of children’s board game. Further information for these products can be found at www.vennovatelabs.com.
Mallinson also confirmed the opening of the Multicraft Innovation Academy on the campus of Pelahatchie High School in August 2017. He said, “We want the smartest millennials to join our company, and this program will allow 11th and 12th graders to earn a Certification in Industrial Maintenance Technology. The program also includes paid internships and will afford qualified students a smooth transition into the workforce.”
The $3M project investment in and opening of the new Multicraft facility is supported by the Town of Pelahatchie and the Mississippi Development Authority, which, with Multicraft’s matching investment, will lead to creation of 50 new jobs.