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Purpose This study aims to integrate social embeddedness with learning society philosophy to explore how grassroots associations of Indigenous women tourism entrepreneurs can leverage their social network to co-create value. Design/methodology/approach A critical feminist perspective considers the intersectional experiences of Indigenous women tourism entrepreneurs from the rural Manasalu region of Nepal. Twenty-one semi-structured interviews with local tourism stakeholders were carried out. Hermeneutics in tandem with Indigenous methods of analysis ensured consideration of Indigenous ontologies and social locations beyond being merely theoretically driven. Findings A paradox of Indigenous women’s empowerment emerged where several efforts for empowerment presented themselves as a double-edged sword. Individuals’ social capital and social support for the sustenance and stability of grassroots associations ensure collective and continuous learning through a value-creation framework. Research limitations/implications Collective self-reflection and self-determination for knowledge creation and sharing amongst social ties shed new light on the role of an Indigenous standpoint on value creation. Originality/value To the best of the authors’ knowledge, this is the first study that captures how the intersectionality of Indigenous women entrepreneurs in grassroots associations use their social capital through contesting, leveraging and learning to transform their social network into a value network.