The Post-Brexit Industrial Revolution

News
22/11/2017


Last year a startup launched every minute in the UK*. Fears of uncertainty post-referendum have done little to dampen the population’s enthusiasm to “go it alone”. While the UK remains a hotbed for fintech and all types of soft tech, a plucky pair of ex-Dyson employees has taken the daring decision to venture into traditional manufacturing with the launch of an innovative cordless vacuum. Could it be the start of a new industrial revolution?


Lupe is the creation of two young UK product designers, Pablo Montero and Lucas Horne. Following extensive research and time in the vacuum industry, Lucas and Pablo are convinced they can offer a better solution. The fearless duo has spent two intensive years developing patent-pending technology and will bravely launch their first cordless vacuum, the Lupe One, in 2018. The ground-breaking appliance offers superior performance that?s up to 150% better than leading competitors.


The founders’ impressive pedigree should stand them in good stead as they pitch themselves against some of the most established global brands. Montero and Horne have worked in a range of high-profile engineering companies including Bosch and Dyson. While working at the latter, the pair were responsible for the successful development of Dyson’s much-lauded Cinetic Cyclone Technology, widely considered an industry game changer. Horne has also built a notable portfolio of 8 patents, and successfully sold personally developed IP to a global technology brand.


Set against a backdrop of volatile exchange rates, recent rising inflation and the effects of a likely interest rate rise in November, the odds appear stacked against a manufacturing start-up in the current climate but Montero and Horne remain undeterred.


Pablo commented;

“We’re acutely aware of the challenges of securing investment for manufacturing. It’s tough. Particularly in a period of such uncertainty. All too often we’re burdened by the perception of being high-risk, capital intensive and investors are keen to understand our ability to navigate costs and logistics. Undeniably, new tech appears nimble and its promise of more instant rewards continues to drive start-up investment. However, hard tech startups shouldn’t be deterred. There are great incentives for investors open to traditional ventures”


He added;

“The support we’ve received has been overwhelming. Not just from investors and the government, but business partners too who all share our vision. There’s an outstanding UK start-up culture and we’re incredibly proud to be part of it. For those entrepreneurs considering traditional industries, our advice is to take the leap; there’s huge potential for a manufacturing start-up.”


Lupe has been buoyed by the significant support received from the government in the form of 2 Innovate UK grants, coupled with a very positive 1st fundraising round which attracted the attention of prominent VC, Oxford Technology. Securing the first Innovate UK grant was instrumental to Lupe’s initial success. It encouraged the two young fathers to quit the day jobs and pour in substantial personal investment, turning Lupe from a shed operation into a fulltime business.


Lupe opens its 2nd stage fundraising round in late November 2017, where it aims to engage a wider range of backers to support initial production in 2018.


To find out more or stay up to date, visit www.lupetechnology.co.uk.