NatWest funding ‘will help inventor generate orders’
NatWest has provided £25,000 funding to help a Reading-based inventor launch a potentially money-spinning product.
The start-up funding, part of a new banking relationship, aims to help Jessel Innovations generate further orders in the UK and Europe for Ecoflap, a patented letterbox that is said to reduce energy costs significantly by stopping draughts and wind blowing through letterboxes.
Designer Richard Jessel has the product assembled in the UK. Jessel and his wife Anne sell direct to the general public and web resellers. They also sell to door manufacturers.
Sales are increasing month on month and the latest turnover figure from September 2010 to date is predicted to be £21,000.
Jessel said: “Our short-term aim is to be a global provider.”
Sunny Rahelu, business manager at NatWest in Tilehurst, said: “Jessel Innovations is exactly the sort of customer we are looking to support – innovative, enthusiastic with a great product to market.”
