"One thing that is clear about this company is that if there is no R&D (Research and Development) there is no evolution and if there is no evolution... we are dead".
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Gerard Márquez, CEO of the EAR FLAP group (Grupo Impuls in Spain) tells us the history of their company in-depth, what projects they are working on and how October was a way to finance their growth.
Gerard Márquez studied Engineering with the clear intention of making life easier for people involved in manufacturing, not to reduce personnel but to automate processes.
He tells us that this July it will be 10 years. He reflects on the journey they have made and how they have continued with the objective they had since day 1: To make the manufacturing of any product easier through automation.
Since the creation of EAR FLAP, their motivation has been to make machines that are functional, collaborative and coexist with people.
EAR FLAP has 4 businesses developed but each one has its own life
– EF-PACK: Focused on the manufacture of packaging machinery and end of line.
– EF-HANDLING: Dedicated to the manufacture of products for the handling of boxes and pallets.
– EF-SEALING: For the manufacture of shrink-wrapping machines or shrink-wrappers.
– EF-SYSTEMS: Dedicated to process engineering and automation.
The last and newest area is the “ROBMOV” area. A mobile robot that is responsible for transporting a load of already palatalized and finished in the warehouse without the need for an operator. This design is the total creation of EAR FLAP in which they worked on this for 3 years and in which they promoted R+D.
Since they wanted to carry out a new R&D project, the company looked for innovative ways of financing. They found October, which offered them an interesting line of credit.
Alfonso Aguado, dedicated to October’s Relationship with Companies, spoke with us about the Impuls Spain project.
“They came to us with a very specific need of financing intangibles. They wanted to develop software and needed financing to do so. Many choose not to finance in these types of projects because they are not an asset, but at October we like it quite a lot”.
“Today when you are going to look for financing with an idea and not a final product, it is difficult for them to understand you and to trust you. However, at October we found trust and we are very grateful”. Said Gerard Márquez, CEO of EAR FLAP.
“It was a standard process, they asked for 150,000€ for 48 months in a sector that we paid a lot of attention to”. Alfonso Aguado at October added.
EAR FLAP grows at an average of 24% annually with a presents in 57 countries and are continuing to invest in the evolution of their company.
The Impuls Spain project was published on 04/26/2017 with the goal of financing the development of RobMov. A total of 569 investors participated in this project.