Driving Decarbonisation "We are convinced that what we are doing will become standard across engineering within a decade." – Dominic Vergine, CEO of Monumo

In an exclusive BIZ Experiences UK interview, Dominic Vergine, CEO of Monumo, shares his vision for the future of sustainable engineering. From tackling the challenges of decarbonisation to revolutionising the electric motor, Vergine's company is set to redefine clean transport with the help of cutting-edge AI and machine learning technologies.

What inspired you to start your business?
Working towards a more sustainable future has always been at the core of my career. While I was VP Sustainability at Arm, I advised on the role of technology in the UN Global Goals and founded the 2030Vision Partnership. During this time, I encountered many global sustainability challenges, from biodiversity loss to resource depletion to deforestation. It felt like the logical next step was to build my own startup aimed at solving a significant problem around decarbonisation.

The automotive sector is always central to the net zero debate, with stringent government policies in place to build only zero-emission vehicles within the next decade. This was a natural area in which to focus our efforts, as there are a number of complex engineering problems that are yet to be solved in the EV market. The majority of attention has focused on batteries, but, when we looked at it as a whole, we noticed that electric motor systems had hardly changed since their creation. Optimising the electric motor at a system level will be central to decarbonisation and unlocking clean transport.

To address these complex problems, we need complex solutions. This is where advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML) come in. At Monumo, we've developed a scalable, machine learning-friendly engine, "Anser". The Anser Engine offers a breakthrough in design capability for the £1.7 trillion engineering industry, reducing years-long engineering projects to just weeks. By using AI and ML, we can explore hundreds of thousands of prototype designs in a matter of hours and generate the best-ever engineered products - beyond human capabilities.

What was the biggest challenge you faced in the early stages?
I think the two biggest challenges for any start-up are raising investment from the right investors and building the team. Thankfully we have been very fortunate on both counts, though I am not downplaying how much effort and time is required to build the right investor and team support. We are also doing something that is both very new and very difficult, and this remains a challenge to explain to customers, investors and our wider network. We are convinced that what we are doing will become standard across engineering within a decade, but right now it is very new and often takes some time for customers and partners to comprehend the change and its implications for the future of engineering.

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How has the UK's economic environment impacted your business decisions?
For our sector, I see little difference between the UK economic environment and the global. The past few years have been difficult for VC funding, with very few companies achieving an IPO or other exit and therefore resulting in a poor flow of capital through the funds. This has slowed our growth to a degree and means that investors are more risk averse than in previous years – a challenge for a deeptech company.

How do you stay ahead of industry trends and innovate within your field?
Over half of the team have PhDs in physics, electronics, ML and computer science, and engineering. Throughout Monumo, we have subject matter experts at the bleeding edge of innovation. The radical nature of what Monumo is building means that we are arguably too far ahead of the curve and part of driving the evolution of industry needs.

What steps do you take to build a strong company culture?
Since hiring our first employee, we have worked hard to ensure that we created an intentional culture and a set of values. By keeping this at the core of what we do, we've created a culture where any employee - from a graduate to C-suite - can ask questions, admit mistakes and be celebrated for their achievements. As we are based across Cambridge and Coventry, creating a sense of unity and purpose throughout our team was also very important to us. We have an incredibly skilled team across a range of disciplines - including automotive engineers, data scientists, physicists, deeptech experts, and BIZ Experiencess. Beyond this, there are eight different nationalities and languages spoken at Monumo, so diversity of thought and learning from each other plays a huge role in the company dynamics. Collaboration is at the heart of what we do and our team is driven by a shared vision to create a genuine impact with a solution that can be applied to a real-world situation.

What advice would you give to someone thinking about starting a business in the UK today?
Maintaining focus is critical for founders. The important thing is to prove yourself in one market, gain commercial traction, and scale it from there. It's all too easy to be distracted, particularly when you are a deeptech business with multiple potential applications for your solution. Having said this, founders still need to be agile and open to change. It's a fine line to walk, but it is essential to find the right balance for success.