In recent years, different algorithms for Hyperspectral Image (HI) analysis have been introduced. The high spectral resolution of these images allows to develop different algorithms for target detection, material mapping, and material identification for applications in Agriculture, Security and Defense, Industry, etc. Therefore, from the computer science’s point of view, there is fertile field of research for improving and developing algorithms in HI analysis. In some applications, the spectral pixels of a HI can be classified using laboratory spectral signatures. Nevertheless, for many others, there is no enough available prior information or spectral signatures, making any analysis a difficult task. One of the most popular algorithms for the HI analysis is the N-FINDR because it is easy to understand and provides a way to unmix the original HI in the respective material compositions. The N-FINDR is computationally expensive and its performance depends on a random initialization process. This paper proposes a novel idea to reduce the complexity of the N-FINDR by implementing a bottom-up approach based in an observation from linear algebra and the use of the Gram-Schmidt process. Therefore, the Simplex of Maximal Volume Perpendicular (SMV⊥) algorithm is proposed for fast endmember extraction in hyperspectral imagery. This novel algorithm has complexity O(n) with respect to the number of pixels. In addition, the evidence shows that SMV⊥ calculates a bigger volume, and has lower computational time complexity than other poular algorithms on synthetic and real scenarios.