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Business growth fund generates £40m

A group of people at Magnitude Biosciences

A fund designed to increase business growth in County Durham has attracted £40 million of investment in less than a decade.

Durham County Council’s Cabinet will be given an update on the Finance Durham Fund (FDF) which provides loans to help the growth of county-based businesses and attract new companies to the region.

First launched in 2017, and administered by Maven Capital Partners on behalf of the council, the evergreen fund uses the returns on investments to re-invest into other businesses to support economic growth in the county.

In an update to Cabinet, councillors will hear that there have been 58 investments into 38 companies, totalling £17.29 million, since the fund was first launched.

This £17.29 million has levered an additional £40 million of investment, supporting nearly 1,500 jobs with a Gross Value Added (GVA) impact of £44 million.

In addition to business loans, the fund also provides ‘access to finance’ business support, helping businesses increase their capabilities and skills to grow and thrive.

Cllr Joe Quinn, Durham County Council’s Cabinet member for planning, investment and assets, said: “The impact that the Finance Durham Fund has facilitated in just a few years demonstrates the value that the fund brings to the county’s economy.

“At a time when public funding for business support grants is likely to be in shorter supply, the Finance Durham Fund will play an even more important role in supporting the growth of our county’s enterprises. It also provides a key investment incentive that sets us apart from other competitor locations, helping to attract more companies to the area.”

Councillors will be told that the fund has played an important role in developing the county’s economy by investing in sectors that are at the forefront of innovation.

Examples include Power Roll Ltd, which produces a low cost, low weight solar film; Dyer Engineering, which is the largest independently owned engineering company in the county; Pragmatic Semiconductor, which opened the UK’s first 300mm semiconductor fabrication site in Meadowfield; and NETPark companies Magnitude Biosciences and PervasID.

Despite a challenging environment for businesses and global economic uncertainty in recent years, enquiries for the fund remain strong.

Councillors will hear the fund has £3.7 million ready to award to businesses, with several potential deals totalling over £2 million currently under consideration.

Cabinet will be given a full update on the fund and be asked to agree to receiving an annual update when it meets on Wednesday 22 April.

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Leading technology firm announces NETPark expansion

Pictured, from left to right, are Torquil Gundlach, SEEDS' Argonaut Programme head; Peter Chalder-Wood, SEEDS' head of strategic partnerships; Sara Williams, NETPark manager; Councillor Joe Quinn; and Christian Pape, Business Durham property director

A pioneering technology company at one of the region’s leading science parks has announced a major expansion.

Engineered graphene technology firm SEEDS will be moving into a new dedicated facility at NETPark, as part of Durham County Council’s £100 million expansion of the site.

Taking on the new unit will enable SEEDS to move from research development to commercial production, positioning the company to supply its advanced graphene technology to major international manufacturers across the global aerospace, energy, semiconductors, and automotive sectors.

The growth of industry-leading science and technology companies like SEEDS has been enabled by the expansion of NETPark, which now offers an increased capacity of more than 285,000 square feet of flexible, high-specification laboratory and advanced manufacturing space.

With the expanded site now fully operational, it is expected to create 1,250 skilled jobs on site and contribute £625 million to the local economy over the next decade.

Cllr Joe Quinn, Durham County Council’s Cabinet member for planning, investment and assets, said: “SEEDS’ expansion at NETPark reflects the critical role County Durham plays in the UK’s advanced manufacturing landscape. We have outstanding, state-of-the-art space for laboratories and manufacturing facilities, ready now and unique in the North East.

“We are delighted to support SEEDS’ growth and would urge any expanding business looking for purpose-built, modern facilities to come and see the exceptional offer we have here at NETPark.”

SEEDS’ growth reflects the strength of NETPark’s innovation. Working alongside the Centre for Process Innovation (CPI), Durham University and Business Durham, the company has transformed groundbreaking research into a commercially scalable process.

CPI has been a key partner in this journey, helping the company test and refine its ideas and providing the support needed to move SEEDS from early research into practical, scalable production.

The company’s partnership with Mitsui is also now helping to accelerate its commercial reach. SEEDS formally signed its agreement with Mitsui in November, and the collaboration is already enabling introductions to major microelectronics manufacturers and opening access to global markets that would otherwise take much longer to reach.

Jason Chehal, founder of SEEDS, said: “This expansion marks an important moment for SEEDS, as it allows us to move from research excellence to genuine commercial readiness. Over the past decade we’ve worked to understand how to engineer graphene in a way that solves real-world challenges, not just in the lab but at industrial scale. Moving into our new space at NETPark means we can now begin building the customer-specific systems that global industries are asking for, from microelectronics and energy storage to aerospace, automotive, IoT and even space technologies.

“We’ve reached a point where the technology is proven, the demand is clear, and the partnerships are in place. With CPI’s long-standing support, Mitsui opening doors internationally, and a world-class ecosystem here at NETPark, we’re able to accelerate into the next phase. What excites me most is that every reactor we build here can directly support a leading manufacturer somewhere in the world. It’s not just growth for our company, it’s an opportunity to demonstrate what can be achieved from County Durham on the global stage.

“This next chapter is about readiness, scale and impact. We’re proud to be expanding here, and proud that the work we are doing in the North East has the potential to influence the future of advanced materials worldwide.”

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Filtronic shortlisted for Technology Company of the Year at SmallCap Awards

Filtronic awards trophy

A leading North East technology firm based at NETPark is celebrating fresh recognition after being shortlisted for a major industry award.

Filtronic has been named as a finalist for Technology Company of the Year at the SmallCap Awards — marking a second consecutive year of recognition after taking home the title in 2025.

The shortlisting follows what the company describes as an “exceptional year” of progress, underpinned by continued innovation and commercial success.

Over the past 12 months, Filtronic has advanced its technology roadmap with the launch of several new products, including Prometheus, Cerus 32 V and its DIFI technology. These developments further strengthen the company’s position in high-performance RF and mmWave technology — sectors that are increasingly critical to applications such as telecommunications, aerospace and defence.

Alongside product innovation, the company has secured a series of significant contract wins and strategic developments. These milestones not only demonstrate growing demand for Filtronic’s solutions but also reflect the strength of its long-standing customer relationships.

The latest recognition from the SmallCap Awards highlights both the company’s technical leadership and its continued momentum within the industry.

Filtronic has thanked the awards organisers and congratulated the other shortlisted companies, adding that it remains proud of its team’s achievements and optimistic about the year ahead.

 

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Investment in the Durham and North East Space Sector continues to gather momentum

Info graphic for: Investment in the North East Space Sector continues to gather momentum

Business Durham welcomes the recognition given to the North East’s growing space sector in recent articles and briefings by Lockheed Martin, highlighting its investment in the North East Space Skills and Technology Centre (NESST) and the proposed Assembly, Integration and Test facility at NETPark in County Durham.

As the organisation that manages NETPark and coordinates the Space North East England cluster, Business Durham is proud to support a sector that is creating new opportunities for innovation, high-value jobs and economic growth across the region.

NETPark is already home to a thriving community of science and technology companies working across satellite communications, advanced materials, photonics and semiconductor technologies. Developments such as the proposed AIT facility would further strengthen this ecosystem and help position the North East as an important contributor to the UK’s ambitions in the global space economy.

Alongside this, the development of NESST at Northumbria University will play a vital role in developing the skills and talent pipeline needed to support the future growth of the sector.

Working with partners across industry, academia and government, Business Durham will continue to champion the region’s space capabilities and support the companies helping to shape the future of this exciting and rapidly growing sector.

Read the article in the House Magazine.

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Agenda Revealed for North East Space Conference 2026

People sat in a conference room

The full agenda for the North East Space Conference 2026 has now been released.

Taking place on 9 June 2026 at the Radisson Blu Hotel in Durham, the conference will bring together businesses, researchers and organisations to explore opportunities within the growing space sector.

Delivered by Space North East England, the regional space cluster managed by Business Durham, the event will focus on collaboration, innovation and sector growth across the North East.

Key themes include:

• Pivoting into space from adjacent sectors

• Strengthening the regional supply chain

• Skills and careers for the future workforce

• Collaboration between industry, academia and partners

• Commercial growth and investment opportunities

The programme features panel discussions, practical sessions and networking opportunities designed to support business growth and sector development.
View the full schedule and book your place here: North East Space Conference 2026 | Space North East Eng

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Magnitude Biosciences: How a Durham spinout is driving health innovation and regional growth

Magnitude Biosciences: How a Durham spinout is driving health innovation and regional growth (Image : Russell Group)

When Durham University researchers Dr David Weinkove and physicist Dr Christopher Saunter launched Magnitude Biosciences in 2018, they did so with a clear ambition: to transform how the UK accelerates drug discovery.

Just a few years later, their company is proof of the benefits that research-intensive universities can help innovators deliver — not only for science, but for public health, the NHS and regional economies.

Magnitude Biosciences is a specialist contract research organisation based at NETPark in County Durham, where its team uses tiny Caenorhabditis elegans worms – organisms with neurons, skin, gut, muscles and other tissues similar in genetics to those in humans – to rapidly test the effects of different compounds on ageing, neurodegeneration and overall health. NETPark is a Durham County Council site, managed by the local authority’s business support service, Business Durham.