IJV DOS AND DON’TS CCIB asked Michael Fox, founder of Indigenous & Community Engagement, and Todd den Engelsen, CEO of TNDC, to reflect on the practices and perspectives that contribute to successful Indigenous joint ventures. DOS businesses to develop management expertise, train local workers, generate own-source revenue and steadily strengthen their ability to pursue larger opportunities. “There’s the aspiration of communi- ties to think they can take on some- thing, versus the ability to actually do it and [understand] what it takes in some cases,” Fox says. “If you want to grow outwards and take on larger proj- ects, then you’re going to need proven, bigger players to joint venture with and show you the works.” Over time, that experience can lead to greater commercial participation, “and the more commercial experience they get, the more they can take on,” says Fox. There is no single blueprint for creating an IJV. Not every partnership is intended to arrive at the same desti- nation. Some are built around defined projects with clear end dates. Others may be designed to build capacity over time, deepen Indigenous partic- ipation or even work toward eventual First Nation ownership of an operation. Overall, says Fox, “It really depends on the starting point of the partners and what their short-, mid- and long-term goals are. If from the beginning there is a common vision that the First Nation takes over the whole operation over time, that’s a different kind of partner- ship than one built around a project.” While objectives may vary, Fox says the strongest partnerships share some common foundations. “I think the moti- vations, the common interests and values are a big deal,” he says. “Those values can be around safety, commu- nications with the communities and their shareholders, or mutual benefits.” That alignment becomes particularly important when a partnership moves from agreement to operation. Poor communication is among the most common source of friction, particularly when information stops at the executive or leadership level rather than reaching the broader community. This transpar- ency is crucial, Fox notes, as expecta- tions around jobs, benefits and project impacts can quickly become sources of frustration. Align on values, goals and expec- tations first. Begin the partnership with honest conversations about shared values, what each party wants in the short and long term, and how each plans to get there. If the destination or the route differs between parties, address these expectations before signing. Choose the right partner, not just the biggest name. Don’t assume the company with the most recog- nizable brand is the one that will make the best fit for your busi- ness. Prioritize partners with proven expertise in your field, operational fit, and a genuine commitment to Indigenous employment, training, knowledge transfer and commu- nity benefit. Build real governance and accountability. Establish shared oversight, clear performance measures and, where possible, a dedicated partnerships function responsible for both revenue and community outcomes. Agree on how you will handle friction. Settle conflict-resolu- tion processes, decision-making authority and communication expectations upfront, including how communities and share- holders will be kept informed. Plan the exit before you enter. Not all partnerships will make it to the finish line intact. Discuss upfront what happens if a partner wants out, needs to cash out, pursues an independent venture, or shifts to a different arrange- ment, as well as how the part- nership might evolve or bring in new participants. DON’TS Don’t mistake a signed agree- ment for a functioning part- nership. Both sides need to be prepared to adapt when assump- tions meet reality. In other words, says Fox, the signing is only the beginning: “Going for a photo op and signing a deal is one thing. Operations are messy, and some- times the assumptions people had when working out the deal don’t match the reality.” Don’t overpromise jobs, revenue or community benefits. Be realistic about what the venture can deliver and when, or unmet expectations can quickly erode trust. Don’t assume capacity exists because opportunity does. Be clear-eyed about workforce readi- ness, capital, management systems and specialized expertise, then build a plan to close the gaps. Don’t confuse equal with fair. This applies particularly in multi-Nation ventures, where differences in community size, workforce capacity, and contributions may require more thoughtful approaches to sharing benefits. Don’t lock into a structure before proving the fit. An IJV that is not pursuing real contracts, generating revenue, or advancing community goals can become administrative dead weight. Test the relationship, measure performance, and be willing to change course. Don’t misrepresent who is doing what. In the past, the volume of work being performed by the Indigenous side of the JV has at times been misrepresented. Be careful to ensure that the work being performed by the Indigenous partner is represented fairly. 24 A CCIB PUBLICATION Fall 2026 INDIGENOUS JOINT VENTURES
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