‘A serious place to do business and invest’: NET VISION 31

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The North East is brimming with opportunity, innovation and ambition, and is a “great place to do business”.

However, to fully realise its potential, it must overcome internal divisions, avoid “self-sabotage” and present a clearer, more unified voice to the outside world.

Those were the principal themes of N magazine publisher NET’s latest VISION 31 event, which was held in the historic Great Hall of Northumbria University’s Sutherland Building.

Supported by Aon, Northumbria University, Lloyds Banking Group and rail operator Grand Central, the event marked the latest chapter in NET’s long-term mission to champion and elevate the region’s people, businesses and transformative projects.

Hosted by NET and Bdaily editor-in-chief Steven Hugill, more than 80 attendees gathered to hear how the North East is delivering growth across a range of sectors, while also addressing the barriers that continue to limit its visibility and progress.

The first panel discussion – A foundation for success: The power of the North East – explored how the region is nurturing high-growth businesses.

Audience members heard from Dr Andrew Kinewell, chief executive and founder of Kinewell Energy; Kelly M Whitfield, founder and chief executive of KLIK SaaS; Alasdair Greig, chief executive of Northstar Ventures; and Kate Rose, founder and creative director at TUTTI.

Andrew pointed to the cleantech firm’s recent growth – which includes securing £750,000 from Mercia Ventures – as proof that North East businesses can expand and compete on a global stage.

He also highlighted the opportunity on the region’s doorstep, pointing to the potential for billions of pounds of investment in offshore wind, while emphasising the importance of collaboration across the sector.

Andrew said: “There’s up to £100 billion worth of investment that could be built out along the North East coastline – we need to grab that opportunity.”

Alasdair, who moved to the North East from Cambridge more than 20 years ago, and has been at the forefront of the region’s investment landscape through his role at Newcastle and Sunderland-based investment house Northstar Ventures, reflected on how far the region has come.

He said: “Twenty years ago, there was very little in terms of angel investment or venture capital in the North East.

“But what we’ve done as a region is turn that narrative into real opportunity – the North East is now a great place to invest.”

Kelly challenged the long-held perception that businesses need to be based in London to succeed.

Highlighting KLIK SaaS, which provides a platform that allows organisations to manage multiple websites and digital estates in one place, she added: “We raised £300,000 at a £6 million valuation pre-revenue, in exchange for just five per cent equity – try doing that in London.”

However, Kelly stressed her experience is not universal, particularly for first-time founders and female entrepreneurs, highlighting a stark imbalance in access to funding.

She added: “Less than two per cent of UK investment goes to female-led businesses – and that hasn’t changed for a decade.”

Kate, who founded North Shields-based design-led jewellery brand TUTTI more than 20 years ago, spoke about building a business rooted in the region.

She said: “My roots are here, my family was here, so I decided to create the job I wanted.

“We’ve grown organically over the last 22 years, completely self-funded, and we’re still standing on our own two feet.”

However, while she described the North East as a “really supportive place to do business”, she too highlighted ongoing challenges around access to funding.

The second panel discussion – Investing in the North East: A springboard for growth – included insight from Kenton Bazeley, partner at Newcastle and Stockton-on-Tees-based legal and professional services firm Knights; and James Beard, chief executive of Newcastle-based Neptune North.

It also featured Marc Brûlé-Walker, managing director at RED Scientific, which operates a base at Sedgefield’s NETPark; and Alison Gwynn, chief executive at North East Screen.

Kenton highlighted the scale of investment taking place across the region and the importance of fully committing to it.

He said: “There’s a massive amount of investment in this region, and we wanted to be part of building something here – not just dipping a toe in the water.”

James explained why global tech consultancy Neptune North – a joint venture between Oliver Wyman and Rokos Capital Management – chose to set up in Newcastle in 2024, with its headquarters at the city’s Bank House.

He said: “They could have done it anywhere in the country, but having already shown what was possible here – with Oliver Wyman establishing a data and analytics team in Newcastle back in 2018 – it was the natural place from which to grow.”

James also pointed to how it has grown to around 150 employees in less than two years, with the majority based in the North East, combining local graduate talent with experienced hires relocating to the region.

Marc explained RED Scientific’s NETPark expansion – the firm has another base in Hampshire – was driven by strategic and personal factors.

They included, he said, access to a strong talent pipeline, proximity to key clients and the opportunity to support the region’s growing defence and security sector, as well as his own desire to return to the North East.

Alison – who took part in VISION 31’s inaugural London summit in 2024 – provided an update on the expansion of the North East’s creative industry following the recent announcement of £104 million investment from North East mayor Kim McGuinness to help unlock a new Gateshead Quays arena site and Sunderland’s Crown Works Studios.

She said: “For decades, the North East was barely on the map for film and TV production, but that has shifted significantly in the last few years.

“We’ve got everything – world-class locations, incredible talent and a collaborative way of working – and that’s why the North East is now a serious place to do business and invest.”

VISION 31

The next VISION 31 event will take place in County Durham later this summer. To register your interest for a seat in the audience, contact NET event managers Dawn Owens and Lesley Hampson at [email protected] or [email protected]

For more information about VISION 31 and how your business could support the campaign, contact John Duns, NET business development director, at [email protected]