TORRES NEWS THURSDAY 20 JULY 2023
Brian to take entrepreneurial lead An organisation focused on empowering economic independence and selfdetermination has secured $15 million to support Indigenous entrepreneurs. First Australians Capital (FAC) has also appointed Torres Strait Islander Brian Wyborn (pictured right) as a managing partner in the organisation. Mr Wyborn will lead the organisation’s investment and funds management activities from Brisbane. “It is an exciting time to be joining First Australians Capital as we scale our fund and impact for Indigenous businesses,” he said. “Our Catalytic Capital Impact Fund is just one example of the enthusiasm and drive the team and our investors have in supporting Indigenous-led businesses and entrepreneurs. “Having worked with Indigenous communities and organisations for the last decade, I have seen first-hand the impact that strong financial advice and support can have on an organisation and its entire community. “I am thrilled to be able to apply my skills to FAC as they expand their reach to more Indigenous-led businesses through this fund and other upcoming initiatives.
“I’d like to take this opportunity to acknowledge FAC’s founders, Leah Armstrong, Adrian Appo, Jocelyn King and Jane Pound, for their incredible work leading First Australians Capital to where it is today, and their decades long contribution to supporting Indigenous businesses and our communities. “I have very big shoes to fill and am excited to begin working with the team to continue bringing innovative Indigenous-led businesses to market in financially sustainable ways.” First Australians Capital was conceptualised in the early 2000’s to promote and support Indigenous business and enterprise as a way for Indigenous people to become economically independent. Since 2016, FAC has supported over 700 Indigenous businesses and leveraged $68 million in cumulative funding for Indigenous businesses. In the financial year ending 2022, FAC delivered more than 8000 hours of support for Indigenous businesses, and supported 201 Indigenous businesses, of which, 45 per cent were
female-led and 42 per cent were in regional and rural locations. The main sectors that sought support from FAC were in construction, arts and recreation, retail and professional services. FAC’s 10-year strategy focuses on making FAC a catalyst for radical change in investment markets. By 2031, FAC aims to contribute to the Indigenous business sector tripling in size and seeing $1 billion in mainstream capital leveraged for investment in Indigenous businesses and communities.
Resources: • For more information about First Australians Capital or to enquire about ways to support FAC, visit https:// firstaustralianscapital.org/ • To view FAC’s Strategy 2031: Radical Possibilities, visit https:// firstaustralianscapital.org/ radical-possibilities/ • To view the Indigenous First Impact Framework (IFIF) developed by FAC and Indigenous Impact, visit https:// firstaustralianscapital.org/ investors/indigenous_first_ impact_framework/
NEWS 07 Renewable energy focus at summit The central role First Nations people can play in achieving Australia’s decarbonisation goals was in the spotlight at the inaugural First Nations Chamber of Commerce and Industry (FNCCI) Summit ‘23 held in Gladstone last month. The summit brought together over 160 people from business, government and communities to identify how First Nations businesses can be part of the renewable energy transition. FNCCI Chairman Matthew Cooke said the Summit was a critical step towards achieving meaningful Indigenous participation in the nation’s booming renewable energy industry. “As Australia enters this next phase of largescale economic development with a push to decarbonisation, we must act early to ensure government and major industry cement First Nations opportunities and shared prosperity from the outset,” Mr Cooke said. “The transition to renewables presents a unique opportunity, outside of government funding of vital human and social services, to make great inroads to Close the Gap. “By investing, mandating and accelerating First Nations participation and equity in economic development projects, we have a real opportunity to change lives.” The two-day event was keynoted by inaugural Ambassador for First Nations People from the Department of Foreign Affairs and Trade Justin Mohamed. “Supporting the meaningful economic development and participation of First Nations peoples is one very important facet of my role as Ambassador for First Nations People,” Mr Mohamed said.
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