Adelaide Cbd, Australia - November 18, 2017: Australian Aborigin
Credit: Adelaide CBD, Australia - November 18, 2017: Australian Aboriginal flag waving above city skyline viewed from Victoria Square on a day
The Indigenous Network for Investment, Trade and Export (IgNITE), a newly-established network of indigenous businesses, has reiterated its commitment to help in the development of more indigenous enterprises in Australia.
In signifying this commitment, the organisation has recruited four highly-experienced indigenous business professionals to be part of its steering group to drive the initiative.
Sean Gordon, Professor Kerry Arabena, Murray Saylor, and Anthony Whitfield are noted for their experience in building successful, multi-million dollar businesses. They have also expressed confidence in the growth of indigenous enterprise with IgNITE’s help.
IgNITE Co-Founder and Acting Executive Officer, Darren Godwell, welcomed the Steering Group members saying, “Indigenous success in investment, trade and export is key to better futures for Aboriginal and Torres Strait Islander communities in our global world. In Australia right now, we have an opportunity to shape an agenda that includes job creation, enterprise and economic growth for indigenous Australians.
“A key objective for the Indigenous Network for Investment, Trade and Export is to bring impact investors and Indigenous interests together to achieve more efficient transactions,” Godwell explained.
IGNITE aims to expedite private investment into outstanding indigenous enterprises, supporting indigenous participation in international trade negotiations, and expanding indigenous export opportunities. At the same time, it also aims to take advantage of the potential of impact investing as it represents significant opportunities across the globe to achieve authentic engagement and shared outcomes through partnerships.
It was noted that In June 2020, the Global Impact Investing Network valued the sector at US$715 billion (A$1 trillion), up from US$500 billion the year before, despite the current pandemic.
“It’s time for greater private investment in Australian Indigenous enterprises by building the pipeline for deal-flow with investment-ready indigenous enterprises,” Godwell said. “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.
“Directly linked to this will be redefined measures of indigenous success, including greater private sector investment, flows into indigenous businesses, faster growth in indigenous exports increased market share and market capitalisation of indigenous companies. This is where IgNITE will play a crucial role.