A £30 million investment by Opportunity North East (One) has secured a further £85m in partnership funding since 2016, it was announced last night.
The economic development partnership founded by billionaire chairman Sir Ian Wood said the cash had accelerated the region’s economic transformation.
One’s figures emerged as the business group held its first annual gathering in more than three years.
More than 150 senior business people, future leaders, entrepreneurs and partners were at the Transforming Our Region event at The Chester Hotel in Aberdeen.
l-r Economist Graeme Roy, One chief executive Jennifer Craw, One chairman Sir Ian Wood and BBC TV and radio presenter Kaye Adams.
Guests heard first-hand from digital, food and drink, and life sciences businesses about how One-led activity is growing their sectors.
Sir Ian, who transformed Wood from a family fishing business into a global engineering and project management giant, said: “One’s continued focus on diversifying the region’s economy beyond energy is bearing fruit and we are accelerating transformation that is consistent with the demands of a low carbon economy.
“The progress of One Tech Hub, BioHub, Seedpod and North East Adventure Tourism all align with this ambition.
“These projects are real, they are happening, and they will make a significant contribution to the diversification and appeal of our economy.
“However, we can and must do more. Last night’s event was a great success and provided a valuable opportunity to engage with our region’s business leaders as we work to shape future action and investment.”
© Supplied by systemOne chief executive Jennifer Craw said: “The private sector chose to lead in economic transformation through One.
“Our unique model has been the catalyst for accelerating change, creating effective partnerships and turning ideas into action.
“The challenge now for north-east Scotland is to ensure the transition to net-zero provides high-quality opportunities for businesses, people and communities.
“With the continued support and investment of the private sector and partners, One will turn ideas and opportunities into action to deliver long-term impact and value.”
Industry leaders at the event included One life sciences sector board chairwoman Deborah O’Neil, food, drink and agriculture board chairman Stanley Morrice, Grant Smith, who heads up the partnership’s digital technology projects and Clair Bruce, chairwoman at One-backed tourism body VisitAberdeenshire.
Also there was leading economist Graeme Roy, who said: “The north-east of Scotland has made a massive contribution to both Scotland and the UK’s energy and economic security for the last 40 years.
“Whilst the region faces a major challenge in effectively diversifying toward a low carbon economy, it has all the economic fundamentals in order to succeed; a highly skilled population and a strong and productive company base underpinned by a pioneering entrepreneurial spirit.
“Opportunity North East is a unique organisation which actively harnesses these strengths, and has become a trusted partner of businesses, industry sectors and government as it continues to effectively transform the region’s fortunes.”
Whilst the region faces a major challenge in effectively diversifying toward a low carbon economy, it has all the economic fundamentals in order to succeed.”
The event, hosted by BBC TV and radio presenter Kaye Adams, showcased some of the businesses which have benefited from One’s support.
Among these was Aboyne-based Lost Loch Distillery, which has taken part in a string of One programmes.
Loch Lost co-founder Pete Dignan said: “Because One is full of successful businesspeople, they are able to share that experience with all businesses to really help.
“I’ve got friends who have businesses in other locations and the feedback I get is there’s nowhere else in the UK at the moment that gets the same kind of support that we get in north-east Scotland – and that’s because of One really.”
When reality bites
Jane Mackie, who founded Rora Dairy at Longside, near Peterhead, said: “When you first start off you are living a dream that you can just make product and it’s going to work.
“You have to learn reality is a different place, and having the benefit of One guiding you on that path and giving you the extra encouragement and ‘oomph’ when you get it right works really well.”
