November 25, 2025 – Cairns, Australia: Ithangee Fisheries has today announced it has qualified for the Torres Strait Regional Authority (TSRA) Business Growth Package valued at $158,000, after receiving business and mentoring support funded by the TSRA and provided by Esparq Ventures, which is building a business ecosystem for Indigenous entrepreneurs to succeed.
Ithangee Fisheries received a $10,500 grant from the Esparq Futures Fund earlier this year. The TSRA will provide a total $158,000 to help set the business up for success in a remote region in the Torres Strait. Esparq Ventures will play a key role in providing business support and advisory services as the Ithangee Fisheries grows.
Ian Wymarra, Founder at Ithangee Fisheries, commented, “Ithangee Fisheries has had to overcome a range of hurdles to get to where it is today. Despite those challenges, we have established a clear business opportunity, and we’re going after it wholeheartedly. With Esparq and the TSRA’s backing, we’ll be able to operate at full capacity. The business is now set up for success to bring exciting financial, upskilling, professional, and networking opportunities to my family and our community.”
“Esparq has walked with us as we continue to innovate and dream big. Traditional financial institutions haven’t always seen the opportunities and potential of our business, which has made it challenging in the past to access capital and effectively plan for growth. With Esparq, we’ve gained access to flexible capital, business support to keep us sustainable and ready to scale, and a team genuinely invested in our success.”
Darryl Majid, CEO and Founder of Esparq Ventures, said, “Every business has ups and downs, but planning to scale a small business in a remote part of the Torres Strait Islands has a completely different set of challenges. While Ithangee Fisheries may not tick all the boxes for traditional financial institutions, Ian absolutely demonstrates all the characteristics that contribute to a founder worth backing – he’s ambitious, an expert in his field, known within his community to deliver, open to collaboration, and is daring to build his business at a reimagined scale. We’re proud to be partnering with the TSRA to back Ian and his exciting venture.”
Acting TSRA Chairperson Patrick Mooka said, “The funding reflects TSRA’s commitment to support local, First Nations businesses in the Torres Strait region, including Northern Peninsula Area communities of Bamaga and Seisia.”
About Esparq Ventures
Founded in 2024, Esparq Ventures (Esparq) is working with Indigenous entrepreneurs to build a thriving First Nations business ecosystem. This includes building innovative Indigenous ventures to unlock the potential of whole business sectors and supporting Indigenous businesses to thrive and grow in a self-determined, resilient and connected Indigenous economy.
Esparq has a 100% Indigenous membership and majority Indigenous Board.
Find out more at: www.esparq.com.au
About the TSRA
Established on 1 July 1994, TSRA is a statutory body and the lead Commonwealth agency in the Torres Strait for Indigenous Affairs, operating under the direction of a community-elected board.
As one of the most remote Australian Public Service (APS) agencies, TSRA supports programs across the region, including for 17 inhabited islands of the Torres Strait and the communities of Bamaga and Seisia on the Northern Peninsula Area of mainland Australia.
Through its dedicated Economic Development and Fisheries programs, TSRA’s aims include to help local fishers progress towards owning 100% of the region’s fisheries and building strong fishing futures. This aligns with local aspirations to help increase fishing participation, business development and job, income and economic opportunities for our people through fishing.
Learn more about TSRA including business grants, services and support at www.tsra.gov.au
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