World’s first indigenous accelerator launched

Barayamal, a leading indigenous entrepreneurship organisation, has announced the recent launch of the Barayamal Network, through which indigenous entrepreneurs can collaborate, network and receive mentoring.

The Barayamal Network closed group recently launched on Facebook and now has over 800 members. A forum for Indigenous entrepreneurs, business owners and professionals who are passionate about growing the Indigenous economy to engage with others, exchange ideas, discuss issues relevant to the industry, connect with other Indigenous entrepreneurs and receive mentoring from industry experts.

The group looks to create a place where everyone from the Indigenous community and non-Indigenous supporters can collaborate to build a stronger Indigenous economy that will benefit all in Australia. The group will also allow people to share the latest events, news and offers to increase the collaboration between members.

“The group officially launched in April and has quickly grown to 800 members, which includes successful indigenous entrepreneurs, technologist and community members who want to help each other and grow the indigenous economy to create more opportunities in our communities that will help close the disparity gap through economic development,” Dean Foley, Founder and CEO at Barayamal, said. “It’s an exciting opportunity for the indigenous community to collaborate and work together to create a better Australia for everyone.”

In 2016 there were over 11,538 indigenous business owner-managers in Australia, rising from 8891 in 2011 (29.8 per cent increase). The future of the indigenous economy is rapidly growing despite lagging behind other indigenous economies. For example, the New Zealand Ministry of Business, Innovation and Employment figures estimate Māori assets are worth $42.6b – a 15.4 per cent increase from 2010.

The Barayamal Team is seeking support from Australian political parties, philanthropists and entrepreneurs to help drive real change that will support indigenous Australians to achieve their self-determination aspirations. In their opinion, indigenous entrepreneurship and economic development is the high growth solution that will help close the gap.

For example, Barayamal recently ran a poll in the Barayamal Network that shows a growing need for funding and government policy accountability e.g. the Indigenous Procurement Policy (IPP) – members from the Barayamal Network want to see a greater impact in indigenous communities from the social procurement policy/contracts instead of a few indigenous entrepreneurs and their non-indigenous partners cashing in on the policy that aims to help close the disparity gap.

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