Indigenous Prosperity Foundation and the Mastercard Foundation Partner to Accelerate Indigenous Entrepreneurship

This Transformative Model to Provide More than 2,000 Young Indigenous Business Owners with Holistic Supports

November 19, 2024. Ottawa, Ontario: The Indigenous Prosperity Foundation (IPF) and the National Aboriginal Capital Corporations Association (NACCA) are proud to announce a landmark partnership with the Mastercard Foundation. This transformative collaboration will support more than 2,000 young Indigenous business owners and advance efforts to resource and empower Indigenous entrepreneurs and communities across Canada.

The partnership, supported by an investment of $17.6 million over five years, will equip Indigenous young people with the tools and resources to build sustainable businesses and contribute meaningfully to their communities. As Canada’s fastest-growing population, Indigenous youth are key to the country’s future prosperity. The Mastercard Foundation’s commitment, through the EleV Program, reflects a deep recognition of the vital role Indigenous young people play in shaping our shared future.

“We’re proud to embark on this new partnership with the Indigenous Prosperity Foundation and NACCA,” said Jennifer Brennan, Senior Director, Canada Programs at the Mastercard Foundation. “We work with partners who are creating pathways to meaningful livelihoods for Indigenous youth. The IPF will contribute to a future where young Indigenous people have unlimited opportunities to unlock their entrepreneurial potential and contribute meaningfully to their communities and the country as a whole. When Indigenous youth succeed, we all succeed.”

This collaboration aims to create a dynamic ecosystem for Indigenous entrepreneurs. The partnership will provide skills training, micro-grants, ongoing mentorship, and other essential support to help Indigenous youth reach their goals and aspirations.

“We aim to transform education and employment systems to support Indigenous youth to thrive and prosper,” Brennan added. “We are committed to working together in co-creation and are truly honoured to be part of this journey.”

Bobbie Racette, Chair of the Indigenous Prosperity Foundation, emphasized the impact the partnership will have on advancing access to the tools and resources Indigenous young people need to build businesses. “The partnership with the Mastercard Foundation will significantly enhance our efforts to build a thriving and inclusive Indigenous economy. Our goal is to break down barriers and implement innovative approaches that support Indigenous young people. This collaboration is pivotal in helping us achieve this vision.”

Racette also reflected on her personal journey: “As someone who struggled to find support and opportunities, I understand the importance of having a foundation like IPF. This partnership will ensure that Indigenous youth have the support and resources they need to succeed.”

An early announcement was made at the NACCA Indigenous Prosperity Forum in Gatineau, Quebec, where key stakeholders from industry, government, and the non-profit sector gathered to discuss the future of Indigenous economic empowerment. Today marks the official announcement, highlighting the critical importance of Indigenous-led initiatives in driving meaningful change across Canada.

For Media Inquiries, Please Contact:

Relay Tangie
Special Advisor
Indigenous Prosperity Foundation
info@indigenousprosperity.ca

About the Indigenous Prosperity Foundation

The Indigenous Prosperity Foundation (IPF) is a charitable organization established by the National Aboriginal Capital Corporations Association (NACCA) and Indigenous Financial Institutions across Canada. IPF’s mission centres on fostering success and empowerment among underserved Indigenous women, youth, and early-stage entrepreneurs across Canada by providing training, mentorship, access to technology, Internet and seed grants to ensure accessibility and equity while building capacity within the Indigenous economic development ecosystem.

About the Mastercard Foundation

The Mastercard Foundation is a registered Canadian charity and one of the largest foundations in the world. It works with visionary organizations to advance education and financial inclusion to enable young people in Africa and Indigenous youth in Canada to access dignified and fulfilling work. Established in 2006 through the generosity of Mastercard when it became a public company, the Foundation is an independent organization separate from the company, with offices in Toronto, Kigali, Accra, Nairobi, Kampala, Lagos, Dakar, and Addis Ababa. Its policies, operations, and program decisions are determined by the Foundation’s Board of Directors and leadership.

Learn More about the EleV program