Researchers from the University of Adelaide's business school have received a $330,000 grant to foster economic development for First Nations communities.
Dr George Mihaylov, Dr Ivan Obaydin, and Professor Ralf Zurbruegg have been awarded the funding from the National Indigenous Australians Agency (NIAA) under their Prescribed Bodies Corporate Capacity Building program.
The researchers will work with the Dieri Aboriginal Corporation (TDAC) to deliver a tailored financial and investment education program for TDAC senior management.
The project, which will start in 2025 and is expected to take three and a half years to complete, will also examine developing sustainable investment strategies and processes suitable for a wide range of not-for-profits, including First Nations corporations.
Dr Mihaylov said the funding was a major milestone for the research team.
"We're delighted to be a recipient of funding from the National Indigenous Australians Agency, whose support has been absolutely invaluable," he said.
"Our team is looking forward to collaborating with TDAC to promote the sustainable economic development of Indigenous communities."
The researchers will engage with rural and remote communities across Adelaide, Port Augusta and Broken Hill, to help promote sustainable economic development.
Professor Zurbruegg said the project would assist in supporting independence for Indigenous communities.
"The funding will provide a case study in developing bespoke investment literacy education for not-for-profits like TDAC, as well as supporting research into sustainable financial management processes within Indigenous communities," he said.
"Many not-for-profit organisations, including native titleholder entities, rely on the goodwill and knowledge of their members to manage their operations.
"Our aim is to provide a foundation for these organisations going forward, supporting them as they strive for continuous improvement in financial and investment decision-making."
Prescribed Bodies Corporate (PBC) Capacity Building program aims to support PBCs in recognising economic opportunities relating to Native Title Rights and interests.
More information about the program is available via the NIAA website.
