Objective 4.1

Innovation in exports and the shift to digital is supported and promoted

Action 4.1J

Industry will support innovative Indigenous start-ups access international investment, including from funds focused on social impact investing and the promotion of indigenous-to-indigenous trade.

Indigenous Network for Investment Trade and Export (IGNITE)

Industry
recommendation/s
Description
Government response
Related Action/s

Indigenous success in investment and trade supported by IGNITE

“It’s time for greater private investment in Australian Indigenous enterprises by building the pipeline for deal-flow with investment-ready Indigenous enterprises. Ignite has the right team of Indigenous executives on board to help this important economic initiative achieve greater business and commercial outcomes for Aboriginal and Torres Strait Islander led businesses” – Mr Godwell,  Executive Officer, IgNITE

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Progress to date

The Australian Indigenous Network for Investment, Trade and Export (IgNITE) is an Indigenous-led, intermediary to expedite private investment into Indigenous enterprises, supporting Indigenous participation in international trade negotiations, and expanded export opportunities for Indigenous Australian companies.

On 14 May 2021, IgNITE signed a Memorandum of Understanding (MoU) with the Canadian-based International Inter-Tribal Trade and Investment Organisation in a shared effort to support Indigenous interests in international trade, commerce and investment. The MoU will be used to raise awareness and interest of international Indigenous business opportunities available through collaboration.

On 1 July 2021 in conjunction with DFAT, Austrade and Export Finance Australia, IgNITE hosted the first ever information seminar for Indigenous businesses interested in exporting. It provided information on the $200m+ Export Market Development Grant and its applicability for Indigenous business support.

At the enterprise level IgNITE support for Indigenous companies is reflected in the new pilot program to support Indigenous companies accessing training and support into APEC economies. In 2021 IgNITE and i2i Global partnered with the Export Council of Australia, with the support of DFAT and the National Indigenous Australians Agency, to deliver the 14-week APEC ‘Growing Indigenous Business Through Trade’ pilot project. This pilot consisted of online training sessions for Indigenous businesses seeking to grow their business through international trade into APEC. The twenty-six Indigenous participants came from eight (8) economies – Canada, Mexico, Columbia, Peru, Chile, New Zealand, Australia and Philippines.