Indigenous entrepreneurs are a growing part of the Canadian economy, with Indigenous-led businesses contributing more than $31-billion to the country’s annual gross domestic product (GDP), according to the National Indigenous Economic Development Board.

Indigenous business owners in Canada account for more than 50,000 enterprises but they continue to face significant barriers in accessing capital, even as they launch new ventures at five times the rate of their non-Indigenous counterparts.

One expert says it simply makes good business sense and it’s an investment in national prosperity to offer support and resources to these companies.

“The Indian Act actively excluded Indigenous Peoples from participating in business, economic systems, resource development and access to lands. What we need now is to recognize Indigenous Peoples as generative, investable and viable partners,” says Carol Anne Hilton, CEO and founder of the Indigenomics Institute and the Global Centre of Indigenomics.

“To realize Indigenous economic power brings a strategic advantage within the Canadian economy.”

From technology startups to transportation companies, Indigenous entrepreneurs are creating jobs and building sustainable investments in their communities, while offering a business perspective that balances economic growth with environmental responsibility.

But Ms. Hilton says Indigenous entrepreneurs still need seats at more boardroom tables, better access to capital, and more partnership opportunities to better realize economic impacts in their communities across Canada.

The Indigenomics Institute, in partnership with Mastercard, launched the Indigenous Economic AI Generative Study last October to address these issues. Using massive data sets, it was designed to identify the trajectory of the Indigenous economy based on a more accurate picture of its current state.

Panelists at the 2025 Indigenomics IMPACT event in Vancouver speak to the power of Indigenous entrepreneurship, highlighting the transformative potential of partnerships. From left: Jennifer M. Sloan, Senior Vice President, Mastercard, Canada; Steven Stark, President and CEO, Tsawwassen Shuttles Inc., Deanna Lewis, CEO, Kalkalilh Communications; Natasha Marshall, Business Director and Manager, Indigenomics Institute.Supplied

The study aims to address long-standing barriers faced by Indigenous business owners and entrepreneurs, shaking off the legacy of colonialism, with Ms. Hilton calling for “significant shifts in language, policy, data and mindset” to drive meaningful change.

“The [study] easily identified $100-billion of Indigenous economic activity,” says Ms. Hilton, who coined the term “Indigenomics” more than a decade ago. “Now it’s about understanding a set of missing data that hasn’t been paid attention to in the past.”

For example, the study employed AI to analyze and map Indigenous economic activity across the country. New businesses and economic contributions were found in a variety of sectors, including clean energy and procurement.

“When it comes to economic reconciliation, we want to be part of the conversation,” says Jennifer M. Sloan, senior vice-president of government affairs, policy and stakeholder engagement at Mastercard in Canada. “And we want to be part of the solution, which means working in partnership and collaboration.”

The Indigenomics Institute collaborated with Mastercard on the 2025 Indigenomics IMPACT event in Vancouver, which brought together Indigenous business leaders and investors, showcasing success stories from more than 100 Indigenous entrepreneurs from across Canada.

Part of the Indigenomics Events series—which includes Indigenomics on Bay St. and Indigenomics NOW—these conferences highlight Indigenomics’ AI development, Indigenous-led financial architecture and successful business models in the Indigenous economy.

The two-day Indigenomics IMPACT event highlighted different sectors such as construction, technology, clean energy and tourism, which are full of thriving Indigenous businesses that have transformed families and communities. Advocates like Ms. Sloan say this is just the beginning if the right support systems can be constructed.

“When you have the opportunity to participate in conferences like this, or to work with some of the Indigenous organizations that we have been working with and partnering with and collaborating with, you see the immense potential,” she says. “At Mastercard, we’re focused on amplifying those voices and the work of Indigenous entrepreneurs and communities.”

At the IMPACT conference, Ms. Sloan moderated a panel on the power of Indigenous entrepreneurship. Along with Indigenous leaders and entrepreneurs, they highlighted the transformative potential of partnerships such as the one with Mastercard for the future of the Indigenous economy––whether it’s through capital investment, mentorship or both.

Ms. Sloan also points to the company’s partnership with the Indigenomics Institute as a natural extension of Mastercard’s broader mission to power economies and empower people, to drive future prosperity across Canada.

“The Indigenous communities are chomping at the bit to get going with their ideas and businesses,” she continues, “and the end result is they thrive, we thrive, and we have a better economy.”

For Ms. Hilton, the point of these events is to reframe the conversation around Indigenous business, from one of challenges to one of opportunity because, after generations of exclusion, she says Indigenous entrepreneurs are finally being recognized for the positive role they play in the market.

“Historically, we’ve been disinvited to that space,” she says. “Now it’s time to take notice that we are foundational to the Canadian economy.”

Mastercard is working to create a supportive ecosystem that empowers everyone, including Indigenous entrepreneurs, so they can start and grow their businesses, access training and support, and connect with community.

Visit Mastercard to learn more.