A budding Bath inventor is in pole position to make a success of his new business after launching the first trainers with soles made from discarded Formula One and motorsport racing tyres.
Compound Footwear founder Alex Witty, 27, aims to convert motorsport fans and sneakerheads alike with his groundbreaking sustainable recycled footwear, launched with the help of a £25,000 Start Up Loan, facilitated by SWIG Finance.
Alex was studying for a BSC in sustainable product design at the University of Brighton, and when the labs shut down, he converted his bedroom into a workshop and set up panini presses to melt and test unconventional materials such as ocean plastics, seaweed and coffee. 
With the help of SWIG Finance Start Up Loans Senior Officer, Suzy Lowe, Alex took out a Start Up Loan for £25,000. The first part, delivered in February 2024, paid for prototyping and testing the market; the second part, paid in March 2025, financed the first 100 pairs of shoes.
“I needed to upfront some cash to start generating revenue from sales, and didn’t have personal funds to draw upon,” he recalls. “I spoke to various financial outlets, and SWIG and Start Up Loans popped up constantly as the place to go for young entrepreneurs to take their first big steps in business.
“I remember the day we had our funding approved and available – it was joyous. It enabled us to take three or four years of work and put it into practice. I can’t say enough great things about Suzy – she made the whole thing super-smooth and took a lot of the stress out of a stressful situation.”
Suzy said: “Compound Footwear is a really exciting business – a brilliant idea and very well-executed. Alex is the loveliest young man, very switched on and so passionate about his project. He’s been a pleasure to work with and it’s an amazing thing to be a part of.”
Start Up Loans is part of the British Business Bank and offers personal loans of up to £25,000 and free mentoring to help anyone start or grow a new or early-stage business.
Alex raised over £100k via UK grants and private investment. He is now working closely with motorsport teams including McLaren, Ferrari, Mercedes and BMW, as well as Pirelli.
SWIG Finance is the Bank’s Business Support Partner for the government-backed programme in the South West, and last year alone delivered £7.2 million in Start Up Loan funding to over 400 new and early-stage businesses.
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