The Championship club travel to the League Two outfit in the first round on Tuesday night.
"Exeter will be tough – there are never any easy games," Simpson told QPR's official website.
"We want to go there, put on a positive performance and win the game and get into the next round.
"We want to build up the momentum, keep the team spirit flying high and start the season with a real bang."
QPR began their league campaign on Saturday with a 2-1 win over Sheffield Wednesday at Loftus Road.