Three cheers for the drinks sector
◆ Andrew Walker shines a spotlight on the young talent on the path to becoming the large companies of tomorrow
In the midst of global uncertainties, Scotland’s Food and Drink industry is finding cause for optimism. According to the recent Johnston Carmichael report, a notable 68 per cent of companies are feeling “optimistic” or “very optimistic” about future growth. Indeed some of the UK’S brightest and best drink companies were out in force at the In Drinks trade show event in Glasgow on 6/7 March. Despite challenges within the sector, the steady growth in UK trade and exports offers a strong glimmer of hope for the road ahead, highlighting resilience and potential within the sector.
Morton Fraser Macroberts is proud to support (and cosponsor) the In Drinks Catalyst start-up competition, a subset of the In Drinks event, which offers ten short listed start-up companies in the alcoholic and non-alcoholic drinks sector the chance to pitch for a winning prize encompassing a package of mentoring support, which includes advice on fundraising, legal matters and Pr/marketing.
The short-listed companies showcased some really innovative products and impressive entrepreneurs whose varied drinks included everything from vitamin enhanced water to Edinburgh cider and whisky liqueur. The standard of entries across the ten shortlisted companies in the competition was incredibly high, and this made it a difficult decision for the judges.
Impact Coffee, a functional cold brew coffee in a can, won the non-alcoholic drinks category after wowing the judges with its pitch and plan for business growth.
LONKERO won the alcoholic drinks category for delivering a unique proposition to the market with great potential for growth. Their gin and grapefruit mixer which is inspired by the national Finnish long drink is the first of its kind in the UK.
The Johnston Carmichael report emphasises that small businesses will be key to underpinning the growth of the sector in Scotland as they will become the large companies of tomorrow and so these types of catalyst (business accelerator) events are invaluable.
The benefits of these men
In Drinks is a great platform for showcasing Scotland’s innovative and emerging drinks sector businesses
toring programmes often stem from the introductions that firms like Morton Fraser Macroberts can make – connecting businesses to the firm’s extensive network of funders, banks, accountants, NXDS, potential customers and suppliers. All ten finalists will have benefitted from the exposure and brand awareness provided by their participation in the competition, and their attendance at In Drinks will set their business up for future success.
The In Drinks Catalyst winner (alcoholic drinks category) in 2023 was Panther M*lk, a Glasgow-based start-up which has become a real success story. Panther M*lk is the world's first oat milk based RTD cocktail, which recently secured its first major retail listing, with bottles now stocked in 40 of Asda stores across Scotland.
It’s clear that In Drinks is a great platform for showcasing Scotland’s innovative and emerging drinks sector businesses. With the right backing, these start-ups can ferment into tomorrow’s success stories. In Drinks offers a golden chance for emerging ventures to shine. Long may that continue.