I have a fictional race which lives on a small island. The environment on that island is of no use to any of the races on the mainland but is the perfect environment for them. They are a human/spider hybrid kind of thing and have the ability to produce silk, which is prized by the mainland races. They do not have much technological advancement but that is not because they are stupid, they just don't have the resources. They would not stand a chance against an attack from a mainland race although it would be hard to capture/kill all of them. They cannot eat anything except the mosses which grow on their land and the animals eating the moss.
You can make it whatever helps your story.
The spiderfolk are wiped out.
The spiderfolk are exploited by commercial powers wanting silk.
The spiderfolk are made a protectorate by a powerful country, protecting them from less powerful / reasonable interests, and allowing the spiderfolk (and interests in the powerful country) to profit from their silk.
Spiderfolk island is made off limits by a powerful country in the manner of the Andamanese and allowed to do their spiderfolk things without outside interference.
Ho hum. I find it more interesting if
Spiderfolk moss turns out to grow like wildfire in the outside world, becoming an invasive species nearly everywhere. Spiderfolk leave the island and thrive.
Spiderfolk carry spiderfolk syphilis which decimates the persons of the outside world.
The reasonable philosophy of the spiderfolk turns out to be very popular among persons in the outside world. The silk is nice, but the spiderfolk religion is really what people want. Spiderfolk persons are in great demand to head up temples everywhere. Spiderfolk island is the site of pilgrimages and becomes wealthy as a center of religious teachings.
Everybody gets attacked
A defeated army retreats to an island they can fortify against their pursuers. Refugees desperate for farmland pile into boats and head to sea. Pirates scout for a base of operations. Conniving merchants arrange for a land office to issue them a deed, then they look for any possible way to make their holding pay off.
Your scenario may be reminiscent of Congo Free State, and you might be interested in working in some elements of that tragedy - the international scientific organization, the nationalist call for colonization, the utopian capitalist model of a state ruled by a corporation. It is not much of a stretch from rubber to silk, really.