The Australian Institute of Company Directors (AICD) has proudly unveiled the First Nations Director Scholarship Program, inviting applications for this transformative initiative. Designed to cultivate a cadre of Indigenous directors equipped with the requisite skills and expertise to assume board positions in both First Nations and non-First Nations organizations nationwide, this program is set to make a lasting impact on boardroom diversity.
Made possible through a generous $1-million grant from the National Indigenous Australians Agency (NIAA), the program will grant 135 governance scholarships over a span of three years, commencing in 2024. Minister for Indigenous Australians, Linda Burney, expressed her enthusiasm for this groundbreaking endeavor, highlighting its pivotal role in reshaping boardrooms across the country.
“The First Nations Director Scholarship Program will offer 135 Indigenous leaders from the community sector an exciting opportunity to advance their career. Importantly, the world-class training will also help develop Australia’s Indigenous director pipeline,” stated Minister Burney.
In its inaugural phase, AICD has joined forces with the Australian Indigenous Governance Institute (AIGI) to support 45 distinguished leaders within the First Nations community-controlled sector who are poised to transition into governance roles. Participants in this program will gain access to premier governance education, along with a suite of culturally relevant and community-informed mentoring and workshops.
Successful applicants will embark on AICD’s esteemed Foundations of Directorship for Indigenous Organisations course. This course is designed to provide participants with a comprehensive understanding of boardroom fundamentals, while building their proficiency in comprehending the duties and responsibilities that come with board and directorship positions.
Mark Rigotti, Managing Director and CEO of AICD, commented on this innovative collaborative model, stating, “This is a new collaborative model for us in the First Nations sector, which combines the AICD’s formal governance education with AIGI’s mentoring and immersive workshop program. The AICD is excited to be launching this concept on a national scale and we look forward to working with leaders in the First Nations sector to build their capacity and gain the necessary skills to step into boardroom roles. This is a groundbreaking initiative for the AICD and we thank the NIAA for its backing of such a significant program.”
The First Nations Director Scholarship Program represents a milestone in the endeavor to augment the representation of First Nations individuals within boardrooms, fortifying the foundation of inclusive leadership in Australia. Through this program, AICD is poised to not only provide a transformative educational experience but also to establish a robust network of empowered Indigenous leaders ready to take on pivotal roles in governance.
This scholarship program is poised to catalyze a new era of boardroom diversity and inclusivity, fostering an environment where the unique perspectives and expertise of Indigenous leaders can thrive. By equipping participants with the necessary knowledge and skills, AICD aims to fortify the Indigenous director pipeline, ensuring that First Nations voices are not only heard but hold significant influence in critical decision-making processes. In conclusion, the First Nations Director Scholarship Program stands as a testament to the commitment of AICD, in partnership with NIAA and AIGI, to foster inclusive leadership and promote diversity within boardrooms across Australia. With a generous funding of $1 million and an ambitious target of 135 scholarships over three years, this initiative is set to transform the landscape of corporate governance. Through a combination of premier education and community-informed mentoring, participants will be equipped with the tools needed to excel in boardroom roles. This program represents a significant step towards a more inclusive and representative future for Australian boardrooms.
