Cultural Market Systems Development

Reference # T.4.2223008
Research Programs 4. Activating the First Nations Estate

Project Timeframe 3 years (2023 to 2026)
CRCNA Funding $880,000
Total project value $1,855,000

First Nations led business development

Project locations: Locations across Northern Australia

Project partners: Indigenous Connection Pty Ltd ; Tracks Indigenous Services Pty Ltd ; National Australia Bank Limited

Project summary and impacts

The Cultural Market Systems Development (CMSD) project, led by Indigenous Connection, explored how market systems can better recognise First Nations cultural knowledge, strengthen economic participation and support improved cultural, social and economic wellbeing across remote and very remote communities in northern Australia.

The research examined the interconnected influence of housing, essential infrastructure, institutional relationships and market systems on economic participation. It identified opportunities for governments and industry to work more effectively with First Nations communities, including through the recognition and procurement of cultural knowledge services.

Key outcomes include the development of the Cultural Market Systems Development Index (CMSD-I) and a future scenario modelling tool, providing new evidence to inform place-based policy, investment and market systems design.

The findings highlight the potential to unlock significant opportunities for cultural economic inclusion, strengthen reconciliation and contribute to Closing the Gap. By recognising and valuing First Nations knowledge of Country, culture and community, this approach could create pathways for up to 1,000 First Nations people to participate in the economy through culturally aligned employment and business opportunities.

Stay connected

Visit the Indigenous Connection CMSD webpage to download the report and register your interest in the research. Indigenous Connection is seeking feedback from readers to understand how the findings are informing decisions, practices and opportunities for change within organisations and communities.

Follow Indigenous Connection at:

Website https://www.indigenousconnection.com/s/

Instagram @indigenousconnection

Facebook @indigenousconnection

LinkedIn Indigenous Connection