North East Scotland’s private-sector-led economic development catalyst, Opportunity North East (ONE) has marked more than nine years of action and investment that is reshaping the regional economy and set the stage for the next wave of growth, innovation and ambition.
On Monday 29 September, ONE brought together more than 120 regional leaders, entrepreneurs, founders, and changemakers for its annual event “Transforming our Future, Delivering with Impact”.
Hosted by broadcaster and journalist James Hanson at ONE SeedPod, Scotland’s food and drink innovation hub, 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, Senior Advisor for Entrepreneurship & AI at MIT and a Senior Lecturer at the MIT Sloan School of Management, who discussed how AI is transforming entrepreneurship.
Mentors and founders engaged in the North East Venture Mentoring Service led by ONE shared their experiences of its impact, food and drink founders shared their entrepreneurial journey, and life sciences leaders discussed the significance of the entrepreneurial ecosystem.
Sir Ian Wood KT GBE, chair of ONE, welcomed guests and set the context for 10 years of action and investment in the region's growth sectors.
ONE CEO Jennifer Craw MBE shared the impact of the ONE model and its partnership working over the past nine years and looked to future delivery.
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 highlights the powerful results of its investment and partnership approach:
- £135 million of additional value created for the North East economy and £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 and more than 80% have improved productivity and customer engagement.
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.
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.
ONE delivering with impact
Paul Cheek, a global leader in entrepreneurial education, shared his insights on the new era of AI-driven entrepreneurship.
AI-driven enterprise
“The biggest risk for companies in the AI revolution is not the technology – it’s unprepared leadership failing to drive adoption.”
That was the powerful message from Paul Cheek, global expert in innovation-driven entrepreneurship and AI. Paul – serial tech entrepreneur, Senior Advisor for Entrepreneurship & AI at MIT and a Senior Lecturer at the MIT Sloan School of Management, as well as the author of Disciplined Entrepreneurship: Startup Tactics – shared a bold vision:
"We’re entering a new era of AI-driven entrepreneurship. One where companies can go from idea to global scale faster than ever - without massive capital or headcount. Where it once took 10 years and 500 people to reach $100 million annual recurring revenue, AI-native startups are doing it in one year with just 20 people.
ONE is making sure entrepreneurs and business leaders are ready with the tools, confidence, and mindset to thrive.
Mentors and founders engaged in the North East Venture Mentoring Service led by ONE shared their experiences of its impact.
From insight to impact: mentors making a difference
ONE shone a spotlight on the North East Venture Mentoring Service (NE VMS) - a programme that’s quietly but powerfully shaping the future of entrepreneurship in the region. Based on the world-renowned MIT Venture Mentoring Service (VMS) model - now active in 33 countries - NE VMS connects ambitious founders with teams of experienced, trained mentors. The approach is proven: team mentoring, a rigorous code of ethics, and structured best practices that create real impact.
James Hanson hosted a powerful conversation featuring Richard McGowan and Krzysztof Mackojc, co-founders of digital tech venture Fathom Group, alongside members of their mentor team - Trevor Garlick, Jacquelyn Craw MBE, and Mark Griffiths. Together, they shared how this model accelerates founder growth through tailored guidance and support and provides mentors with a meaningful way to give back, using their expertise to nurture the next generation of entrepreneurs.
Whether you are a founder looking to scale or a leader keen to support others - this is a community making a tangible difference.
The entrepreneurial journey – Angus & Oink
A mini documentary showcased north east food and drink success story Angus & Oink, looking at the growth opportunities and challenges facing founders in the region.
Life sciences founders Dr Deborah O'Neil OBE FRSE and Prof Craig Ritchie shared their experiences of growing innovation-led enterprises in the region.
Innovation and entrepreneurship - building life sciences ventures
James Hanson, was joined by two pioneering founders: Dr Deborah O’Neil OBE FRSE, founder and CEO of NovaBiotics, and Professor Craig Ritchie, Founder and CEO of Scottish Brain Sciences. Both are based at ONE BioHub in Aberdeen, the innovation hub for life sciences and both are driving global impact from the region.
NovaBiotics is delivering disruptive solutions across consumer health and advanced pharma, targeting conditions with high unmet medical need. Scottish Brain Sciences is leading the charge in early detection and treatment of Alzheimer’s and brain disease, with dedicated research centres and clinical trial infrastructure.
The message was clear: North East Scotland has the talent, infrastructure, and ambition to become a powerhouse for life sciences innovation.
Sir Ian Wood urged the audience to continue to work with ONE and focus on entrepreneurship and innovation to diversify the region's economy.
An invitation to build the future
The ONE annual event is a moment of reflection and a call to action. Attendees 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.
Closing the event, Sir Ian Wood said:
“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.”
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