Four decades after its founding, Ulnooweg reflects on its journey from grassroots lender to a national leader in Indigenous innovation, education, and community prosperity.
When Ulnooweg began in 1985, it was a small grassroots initiative — a few determined leaders working to open economic doors for Indigenous communities across Atlantic Canada. Four decades later, Ulnooweg has evolved into a national model for Indigenous-led development, combining economic growth, education, and cultural renewal into a single, cohesive vision.
The Canadian Business Journal recently spoke with Christopher Googoo, Chief Operating Officer at Ulnooweg Development Group, and proud member of the We’koqma’q First Nation. Googoo reflects on a journey defined by persistence, partnership, and purpose — one that has reshaped how Indigenous communities build, lead, and sustain their own futures. “We’re not just lending — we’re building the ecosystem that trains employees, supports entrepreneurs and sustains community wealth,” says Googoo.
From Grassroots to Growth
Ulnooweg’s early mission was simple but ambitious: to create opportunities for Indigenous entrepreneurs where few existed. In the 1980s and 1990s, that meant offering access to business loans and financial support that mainstream institutions rarely provided. Over time, however, Ulnooweg’s role expanded beyond lending.
A major milestone came in 2013 with the creation of the Indigenous Education Centre, an initiative that began with financial literacy programs and later evolved to include science, technology, engineering and math (STEM) education. “Financial literacy is a foundation,” Googoo explains, “but STEM is about preparing our youth to lead in tomorrow’s economy.”
By 2018, Ulnooweg had established a dedicated Foundation to strengthen its charitable and cultural work. The following year, a landmark five-year, $15 million youth empowerment partnership helped scale programming across Atlantic Canada, delivering nearly $9 million in community initiatives and education over that period.
Leading Through Barriers
Ulnooweg’s story is one of vision in the face of structural challenges. From restricted access to capital to systemic gaps in philanthropy, the organization has had to navigate — and dismantle — many of the barriers Indigenous businesses still face today.
“Leadership in this space means staying focused on the goal,” notes Googoo. “We repeatedly encounter systemic and cultural barriers — from access to capital to trust within the financial sector — and overcoming them takes persistence and relationship-building.”
That commitment now drives Ulnooweg’s efforts to expand access to Indigenous-led capital through vehicles such as the Indigenous Growth Fund. It also underpins the organization’s ongoing work to formalize STEM learning — including an accredited curriculum that counts as a half-credit within public schools.
“Education, culture and capital must move together,” says Googoo. “That’s how we create real opportunity.”
Anchored in the Fisheries and the Future
The fisheries sector remains a vital pillar of Indigenous economic development, and Ulnooweg has played an essential role in helping communities participate and lead. The Marshall Decision accelerated Indigenous ownership in fisheries, and Ulnooweg’s support — from strategic purchases to business development — helped communities become active partners, not just participants, in the industry.
At the same time, the organization’s education programs are preparing youth for careers in marine research, ocean science, and technology. Through camps and partnerships with academic and research institutions, students explore underwater robotics, marine ecosystems, and climate science — blending Indigenous knowledge with scientific innovation.
Capital, Collaboration, and Community Impact
As Canada’s financial institutions begin to adapt to Indigenous economic realities, Ulnooweg continues to push boundaries. While banks 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 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 thriving programs across Atlantic Canada, Ulnooweg’s legacy is one of resilience — proof that with trust, innovation, and cultural integrity, Indigenous organizations can redefine what sustainable growth looks like.
“Ulnooweg has always been about empowerment,” Googoo reflects. “Not just through lending, but through education, culture, and leadership. That’s what sustains community wealth.”
Key Initiatives at a Glance
• Indigenous Education Center — Financial literacy to STEM; accredited half-credit curriculum
• Ulnooweg Foundation (est. 2018) — Philanthropic partnerships and cultural programming
• $15M, 5-year Youth Empowerment Partnership — Expanded programs across Atlantic Canada
• Windhorse Farm (2021) — 200-acre land-based education & healing centre
• Indigenous Growth Fund & Major Resource & Energy Development Fund — Capital for large-scale community projects
• Canadian Business Journal proudly celebrates Ulnooweg’s 40 years of leadership, innovation, and Indigenous empowerment — a story of partnership, perseverance, and the enduring power of community vision.
CBJ proudly celebrates Ulnooweg’s 40 years of leadership, innovation, and Indigenous empowerment — a story of partnership, perseverance, and the enduring power of community vision. Christopher Googoo’s interview was conducted by CBJ’s Matthew Taplay.
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