The Entrepreneurs' Forum has unveiled its inaugural Ones to Watch Index, a list of 20 North East businesses it believes have the potential to become the region's biggest companies in the coming years. The list, released ahead of North East Entrepreneurship Week, which runs until November 20, includes firms from the technology, life sciences, advanced manufacturing and consumer brands sectors.
Selection criteria and notable inclusions
The businesses were chosen by a panel of experienced entrepreneurs, investors, and professional advisers. They were assessed on their commercial progress, growth opportunities, potential to break into larger markets, leadership, and financial foundations.
Among the selected firms is Cramlington's Transmission Dynamics, which won Business of the Year at the North East Business Awards this year. Seaham's Low Carbon Materials, previously shortlisted for Prince William's Earthshot Prize, is also included.
Entrepreneurs' Forum chief executive's comments
Elaine Stroud, chief executive of the Entrepreneurs' Forum, said: "We've got some fantastic businesses being built across the North East, but a lot of them are flying under the radar. We wanted to find 20 that we genuinely believe can go on to become really significant, and make sure more people know about them.
"What we really want is for people to get behind them and help however they can. That might be making an introduction, sharing some experience, opening a door, or investing. It doesn't always take something enormous to make a difference, but we know that, sometimes, the right conversation at the right time can completely change things."
The 20 businesses on the list
The full list includes:
- Aelius Biotech, a Newcastle-based developer of a model gut system to help companies avoid animal testing.
- AnFi Test, launched by Newcastle University student Henrietta Newbie to improve equine and livestock health outcomes.
- Boniplas, a Durham manufacturer and stockist of cladding for walls, ceilings and floors.
- Circadacare, led by Dr Tallie Bush in Newcastle, developing smart lighting technology combining AI with monitoring systems to help people with dementia live independently.
- Crowd Threat, a Newcastle firm that secured £1m investment for its security risk identification technology.
- GainsBio, an agricultural biotechnology company based in Newcastle.
- LightOx, a Newcastle life sciences company developing light-activated drug compounds and gels for early-stage mouth cancers, oral lesions, and wound care.
- Low Carbon Materials, based in Seaham, preparing to increase production of construction materials that lock away carbon.
- Magnitude Biosciences, a contract research organisation at NETPark in Sedgefield.
- Mutha Cuva, a subscription-based heat pump servicing company in Newcastle.
- MySalesCoach, which uses AI to improve individual growth and sales performance.
- Nuna Bio, which has developed new DNA synthesis methods to supply DNA quickly and at scale.
- Probe Industries, Bedlington-based experts in industrial odour control.
- Seriös Group, in Newcastle, helping businesses take control of their data.
- Southern Asset Management, providing asset management testing solutions from Stockton.
- Surghive, a robotic surgery training company in Middlesbrough.
- Tiba Tempeh, a plant-based superfoods company in Ponteland.
- Transmission Dynamics, in Cramlington, using advanced sensors and AI to monitor critical machinery.
- X-Heat, a Middlesbrough firm developing heating systems to reduce energy consumption for industrial and commercial customers.
- XR Therapeutics, a Gateshead firm with a therapist-led platform for treating anxiety and phobias.
Official partner and future plans
Castrius Capital Partners, a new North East-focused growth investment business created by Fairstone Group founder Lee Hartley, is the official partner of the index.
Mr Hartley said: "If we want to see more substantial businesses being built and staying here, we need to get behind the people with the ambition to make it happen. And there's no reason every one of the businesses on this list can't go on to achieve something pretty special."
The Entrepreneurs' Forum plans to make the Ones to Watch Index an annual initiative, tracking the progress of the businesses over the next five years and encouraging continued engagement from the region's entrepreneurial and business support community.
