Esparq Ventures is quietly reshaping the Indigenous business landscape across Northern Australia. In less than two years, its community-led model has supported dozens of Indigenous entrepreneurs to launch and grow ventures across sectors like tourism, agriculture, technology and education. These businesses are creating jobs, building founder confidence, and strengthening local economies – all while staying grounded in culture and Country. 

Esparq Ventures is an Indigenous-led organisation working alongside Indigenous entrepreneurs to grow strong, successful businesses and a thriving First Nations business ecosystem. Founded in 2024, Esparq exists to back Indigenous founders with the tools, networks and support they need to take their ideas to market and succeed on their own terms. This includes building ventures, unlocking new market opportunities, and strengthening the infrastructure needed to support a connected and resilient Indigenous economy. Everything we do is grounded in self-determination and a belief in what’s possible when communities have the resources to shape their own futures. Esparq has 100% Indigenous membership and a majority Indigenous Board.

 To find out more visit: www.esparq.com.au   

Darryl Majid, founder and CEO of Esparq, is modest about his own achievements – but when he speaks about his team, their work, and the people they walk alongside, his enthusiasm is unmistakable. In this conversation, Darryl shares the thinking behind Esparq’s approach, the lessons learned from walking alongside entrepreneurs in Far North Queensland and the Torres Strait, and the bold vision driving the company’s next chapter.  

This conversation accompanies Walking Together, Esparq’s first official report, co-authored with The Next Economy, and explores the challenges, opportunities and stories shaping a new Indigenous-led business ecosystem. 

Tell us about your journey – what’s your background, and what inspired you to start Esparq Ventures? 

I started out working in the space as a First Nations Lead, alongside some incredibly talented and passionate people. We were making early progress in building Indigenous social enterprises, and that experience gave me a real sense of what was possible. But it also highlighted the limitations of traditional structures for Indigenous businesses. 

In August 2023, I made the decision to leave and build something new. I’d just become a father, so part of it was necessity – I needed to bring in income. But I also knew I had a unique skill set and a deep passion for this work. I’ve always thrived on the challenge of raising capital and pitching ideas, it scratches a competitive itch for me. 

More importantly, I saw that there were all sorts of people and funders who genuinely wanted to support Indigenous businesses but didn’t know how to connect with the right people or navigate the cultural context. Esparq was born out of that gap – to walk alongside entrepreneurs, unlock opportunities, and build something that could truly shift the landscape. 

You often talk about ‘walking alongside’ entrepreneurs, and it’s the name of the paper, what does that look like in practice? 

It means going the long route. We’re not just handing over a business plan and walking away. We pitch for our clients, call out bad actors, ring government on their behalf. We pool shared resources like bookkeeping. It’s a tough model – expensive and time-intensive – but we believe the long-term investment will pay off. 

We’re deeply embedded in the work. We’re part of the business, not just advisors. That’s what walking alongside really means. 

What are the biggest barriers Indigenous entrepreneurs face – especially in remote or regional areas? Why haven’t traditional investment models worked? 

Capital is the biggest barrier – always. There are lots of other barriers, but they all come back to money. Non-Indigenous entrepreneurs are more likely to have access to family savings or assets they can leverage. That’s not the reality for most Indigenous people. If you don’t have money, you can’t get money. 

Traditional investment models assume that kind of access. They’re built around people who can self-fund or bootstrap. That’s why they haven’t worked – they don’t account for the structural disadvantage Indigenous entrepreneurs face. 

What kind of future do you imagine for Indigenous entrepreneurship, and how does Esparq help bring that to life? 

I imagine a future with more access, more exposure, and more maturity in the Indigenous business sector. Right now, a lot of businesses are sole traders or joint ventures – many are dependent on grants, not loans; not independently owned or scalable. We need to build models that allow Indigenous entrepreneurs to grow and thrive, not just survive. 

Esparq is about creating those models. We’re building businesses that can replicate and scale across northern Australia – like Bush Beef, which allows Indigenous cattle breeders to supply into a single entity to better access markets. Through one business, we can create many. It’s about solving our own problems and using those learnings to drive systems change. 

What strengths do you see in the businesses you work with, and what are some common misconceptions? 

One big misconception is that Indigenous people aren’t entrepreneurial – but that couldn’t be further from the truth. There’s a genuine entrepreneurial spirit in our communities. People are running multiple micro-businesses, juggling jobs, and constantly innovating. In the past two weeks alone, we’ve had leads ranging from drone tech to AI tools for classrooms. The ideas are out there. 

The strength lies in the people.  

We look for founders with tenacity, creativity and character … the kind of high-agency individuals who move with urgency, challenge the status quo and find a way to keep going when others stop looking. Like the woman who catered for a full group from a tiny kitchen with a single burner — and still delivered unforgettable food, by boat. Or the tourism founder who couldn’t get funding, but rallied volunteers, built partnerships and got a bus on the road to market his vision. You can’t help or teach this stuff. The rest – pricing, bookkeeping, operations – we can help with. 

What does success look like for Esparq, beyond just the numbers? How should we be measuring value in Indigenous business? 

Success is about empowering people to create wealth and autonomy. If people have money, good things follow. We don’t need to define impact narrowly – we just need to record the great things that happen when communities are empowered. 

Measuring jobs, revenue, and businesses supported has its role. But a job in Cairns isn’t the same as a job in remote Cape York. We need to tell the stories of what happens when people are given wealth and autonomy – that’s the real impact. 

What did the Esparq Partner Experience in Cairns and the Torres Strait mean to you – personally and professionally? 

It was surreal. I’ve never had many traditional jobs, so I’m always figuring things out. Professionally, it opened new opportunities for Esparq and the businesses we support. Personally, it was more relief than excitement – just knowing it worked, and it all came together. 

The trip wasn’t about showcasing our work – it was about introducing people to the communities we work with. That’s the difference. We’re not saying, ‘come see what we’ve done’ – we’re saying ‘come meet the people we’re walking alongside’. 

What’s next for Esparq, and what are you most excited about in this next phase? 

We’re shifting toward building scalable businesses and co-founding with community. Bush Beef is another good example – one head business that Traditional Owners can supply to. We’re piloting tourism and logistics networks to break down barriers of remoteness. It’s about replicating and scaling models across northern Australia. 

We’re also using those learnings to shape new products – like our Futures Fund, alongside shared services. It’s about solving our own problems and building systems that work for our communities. 

What message would you share with investors, policymakers, or aspiring Indigenous entrepreneurs reading your new report? 

There’s a quote I relate to: ‘It’s human nature to overestimate risk and underestimate opportunity’. The risks aren’t as big as you think, and the opportunities are bigger. Despite all the barriers, people are still finding a way to win. Imagine what we could do if we unlocked those barriers. 

For entrepreneurs, I don’t want to sugarcoat it – business is hard. It’s not for everyone. But if you’re still keen after hearing that, then maybe it is for you. We’re here to walk alongside those who are ready to take that leap. 

Read Walking Together: Building Indigenous Business in Northern Australia – a new report by Esparq Ventures, co-authored with The Next Economy.