Founding Esparq Ventures, he wants to increase access to capital for First Nations businesses, which Mr Majid said often get overlooked for philanthropic funding and investment.
"The entrepreneurial spirit that lives within communities, it's often not people's work ethic or creativity that holds it back, it's rather those building blocks and access to capital and services to get those ideas off the ground," he told AAP.
Through its Torres Futures Kickstarter Fund, Esparq is distributing grants and low-to-no interest loans between $10,000 to $30,000 for businesses in far north Queensland and the Torres Strait.
With challenges such as geographic isolation and lack of access to intergenerational wealth a reality for many businesses in the region, it can be difficult to get an idea off the ground.
But once the "first dollar" is generated, significant financial and social outcomes can be delivered, Mr Majid says.
"It's really difficult to get the first bit of money in the door ... very early on you need that risk capital for people to test their ideas out and start to build some traction," he said.
"That first bit of money helps people get the first bit of equipment, get the insurance, it allows people to take on their first contracts."
Torres Strait crayfisherman Ian Wymarra's business Ithangee Fisheries received a $10,000 grant from the Torres Futures Kickstarter Fund, which allowed him to upgrade parts of his boat and purchase fuel.
But it's not just the grant money that has made a difference - Esparq also provides support with admin and bookkeeping, and mentoring for entrepreneurs.
Mr Majid said there cannot be a one-size-fits-all approach to working with First Nations businesses.
"It's about understanding the individual context and experience of the place," he said.
"The different costs that happen, why you have to operate in a certain way, why people want to - rather than focus purely on profit - they want to give back to the community and hire locally," he said.
Before Esparq, Mr Wymarra was flying his catch to a vendor on Thursday Island who would then send it on to buyers overseas.
He's now working to establish his own supply chain to export his crayfish directly to buyers.
"It's very rare to find a financial or capital partner who genuinely understands how the business operates, the ambitions we have to grow, and the additional support we need to bring those ambitions to fruition," Mr Wymarra said.
"Working with ... the Esparq team has enabled us to get the basic infrastructure to ensure our business can not only continue to operate sustainably, but also grow in ways that wouldn't otherwise be possible."
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