CBJ JANUARY 2026

27 ULNOOWEG AT 40: BUILDING THE FUTURE, ROOTED IN TRADITION JANUARY 2026 « The Canadian Business Journal 26 have helped reshape the narrative around Indigenous-led enterprise. A Vision for the Next Decade As Ulnooweg looks toward its 50th anniversary, its ambitions are larger than ever. The organization is developing plans for Indigenous capital funds ranging from $50 to $100 million, designed to support multimillion-dollar community projects, major industry investments, and sustained local development. “The pipeline is here,” says Googoo. “We just need to build the financial tools that allow communities to own their future.” A Legacy of Resilience and Renewal From a single idea in 1985 to a network of are increasingly open to collaboration, there remain structural limits that restrict flexibility and access. “That’s why we’re building Indigenous- controlled capital,” Googoo explains. “Private investment, trust-based partnerships, and demonstrated capacity are key to shifting perceptions of risk.” Ulnooweg’s ecosystem — which includes its development group, education centre, and foundation — enables the organization to deliver impact across multiple fronts. Together, they incubate new initiatives, foster entrepreneurship, and support emerging Indigenous institutions. A recent example illustrates this holistic model: Ulnooweg helped a regional marine operator purchase a vessel to support coast guard work — providing financing, workforce training connections, and infrastructure upgrades, including at the St. John dock. “That kind of full-circle support grows businesses, strengthens skills, and creates long-term jobs,” Googoo says. STEM and Land-Based Learning The onset of the pandemic tested Ulnooweg’s adaptability, but it also accelerated innovation. The Science & Innovation Program received renewed federal support, enabling the delivery of more than 600 laptops to remote communities and a shift to flexible, remote learning models. In 2021, Ulnooweg took another bold step by acquiring Windhorse Farm, a 200-acre property that serves as a land-based learning and healing centre. There, Elders and educators work side by side, teaching youth both cultural traditions and STEM disciplines such as forest ecology, climate science, and water systems. The result is a program where traditional knowledge and modern science strengthen one another. The Next Wave of Growth Looking ahead, Ulnooweg is focused on emerging sectors that promise long-term, community-led growth. Clean energy and resource development stand out as key frontiers. Through the Major Resource & Energy Development Fund, Ulnooweg supports Indigenous equity participation in wind and solar projects — helping communities build intergenerational wealth and a stronger voice in national energy discussions. “Governments can’t fill all the gaps,” Googoo notes. “Indigenous-controlled capital is essential for lasting growth.” The organization also sees new opportunities in gaming, creative industries, and digital entrepreneurship — areas that align with Indigenous storytelling, innovation, and self- determination. Overcoming Bias, Building Trust Despite progress, systemic bias continues to challenge Indigenous organizations. “There’s still an assumption that Indigenous businesses will fail in unfamiliar sectors,” Googoo says. “That mindset affects both philanthropy and finance. The only cure is proof — success after success.” Ulnooweg’s track record speaks volumes. Its consistent performance, long-term partnerships, and commitment to transparent governance Carol Marie Paul played an important early role in the development of Ulnooweg, serving as the organization’s first secretary and bookkeeper. Coming from Eskasoni, she supported the foundational administrative and financial work that helped Ulnooweg establish itself as a trusted Indigenous-led institution in Atlantic Canada. As a proud member of the Eskasoni community, her contributions reflect the dedication of the people who built Ulnooweg from the ground up, strengthening opportunities for Indigenous entrepreneurs and communities. Although not widely profiled publicly, her early involvement remains part of the organization’s acknowledged history and long-term success. Photograph of Carol Marie Paul (circa mid-1980s)