North East Scotland’s private-sector-led economic development body, Opportunity North East (ONE) has marked more than nine years of catalytic action and investment that is reshaping the regional economy and set the stage for the next wave of growth, innovation and ambition.
Yesterday, ONE brought together more than 120 regional leaders, entrepreneurs, founders, and changemakers for its annual event “Transforming Our Future, Delivering with Impact”. The event marks a decade of catalytic action and investment that is reshaping the regional economy – and sets the stage for the next wave of growth, innovation and ambition.
Hosted by broadcaster and journalist James Hanson at ONE SeedPod, Scotland’s food and drink innovation hub, which opened in the summer, the event welcomed a powerful lineup of voices. Speakers included Sir Ian Wood KT GBE, Chair of ONE, Jennifer Craw MBE, Chief Executive of ONE, and Paul Cheek of the Martin Trust Centre for Entrepreneurship at the Massachusetts Institute of Technology (MIT) – a globally recognised expert on innovation-led business growth – who discussed how artificial intelligence is transforming entrepreneurship. Mentors and founders engaged in the North East Venture Mentoring Service led by ONE shared their experiences of its impact and life sciences leaders discussed the significance of the entrepreneurial ecosystem built over the past nine years.
The story so far
Founded in 2015 to accelerate economic diversification, ONE has committed £35 million of its philanthropic funding from the Wood Foundation to drive transformation across key growth sectors – including digital tech, food, drink and agriculture, green energy, life sciences and tourism.
An independent interim economic impact evaluation of ONE entrepreneurship, innovation and market development programmes, commissioned by ONE in 2025, highlights the powerful results of its investment and partnership approach. Among the key findings:
- £135 million of additional value created for the North East economy.
- £190 million in total impact across Scotland.
- For every £1 invested by ONE, £9 of value is delivered to the region**, and £12 across the country.
- 95% of founders surveyed reported increased ambition, confidence and skills.
- Almost 90% of supported businesses have grown employment.
- More than 80% have improved productivity and customer engagement.
These outcomes are fuelling high-growth sectors:
- Digital tech and life sciences are on track to double in size by 2030.
- The food and drink sector is growing faster than the Scottish average.
- The visitor economy now generates £1.3 billion, positioning the region as a world-class adventure tourism destination.
- New innovation infrastructure is supporting the energy transition, placing the region at the heart of the UK’s net-zero future.
Speaking at the event, Sir Ian Wood praised the power of private-sector leadership and collaborative delivery:
“We’ve made significant progress despite a decade of extraordinary economic shocks. In this region, private-sector-led economic transformation and partnership working have been constants.
“ONE delivers transformational projects – this food and drink innovation hub is the most recent example – and provides entrepreneurial education and support to founders creating and scaling innovation-led businesses.
“My ask of you is to stay engaged, stay focused, and use the opportunities we create to further your ambitions. Together, we will transform our economy.”
Jennifer Craw, CEO of ONE, reflected on the organisation’s journey and reaffirmed its ambitious path forward:
“Ten years ago, ONE was born out of vision and leadership. Our mission was clear: diversify the economy.
“Independent analysis shows that ONE investment has generated £135 million for the North East and £190 million at a Scottish level. But this is about more than numbers, it’s about impact driving economic growth.
“What makes ONE different is not just what we do. It’s how we do it. Private sector leaders giving back, mentors investing time and expertise, founders taking risks and the Wood Foundation and our partners backing ambition with funding.
“We are building a unique model of private-sector leadership — one that gives back, unlocks potential, and creates opportunity for generations to come. The impact to date is a success shared by many and the next decade is ours to claim.”
An invitation to build the future
In Case You Missed it:
The ONE annual event is more than a moment of reflection — it is a call to action. Attendees were encouraged to connect, collaborate, and contribute to a shared vision of a resilient, inclusive and innovation-led economy.
From early-stage founders to global experts, from local leaders to policy partners, the message is clear: North East Scotland is a region with the talent, ambition, and infrastructure to lead.
ONE is now scaling its work, backed by private-sector investment, public-sector partnership, and global expertise. The entrepreneurial ecosystem it has nurtured is thriving – and ready for the next chapter.
