NEWS: ACS to take over River City Labs

Big News. Today we told the world that the Australian Computer Society will be taking over River City Labs.

Since I announced that I was looking for new owners for RCL in May this year, we’ve spoken to over a dozen serious interested parties. This process was always about finding the right custodian, not just to maintain business as usual but to take it to the next level.

We had a lot of interest and some great expressions of interest. But the ACS proposal stood out, for some very strong reasons:

1. They came to the table with fresh new ideas and a compelling vision for supporting tech entrepreneurship in Queensland and beyond.
2. The ACS was excited to welcome the whole RCL team to the fold and prepared to offer them the opportunities they need to grow, and to work with them make a bigger impact on the start eco-system.  
3. They were willing to put their money where their mouths are, and make a $7.5 million investment in RCL programs and operations over the next three years.

The ACS are more than a safe pair of hands for RCL, they’re the perfect backer to help it realise its mission of being Australia’s leading hub for supporting tech entrepreneurs.

While they may not be as well known in startup circles, the ACS are a serious operation, with tens of thousands of members and operations across every state in Australia. Most importantly, they have been dedicated to supporting and championing tech professionals for well over 50 years. In particular they have a focus on the deep tech fields that Australia needs to develop if we want to build more startups. Those involved with tech startups know that the feedstock for this sector is people, tech savvy people and this is what ACS brings to the table, not just that but also an ingrained understanding of corporate and government support structures and demonstrated ability to lobby effectively.

There are a lot of parallels. Like RCL, events are a core component of what the ACS offers – bringing together people and building communities. In CEO Andrew Johnson and President, Yohan Ramasundara, they have a highly capable and visionary leadership team who are excited to bring their capabilities and resources to supporting the next generation of Australian tech startups. River City Labs, RCL Accelerator and Startup Catalyst have an exciting future ahead.

I’ll still be around as a mentor, adviser and cheerleader. But after six years, I could not be more excited to have found a new owner with the vision, resources and passion to providing the best outcome for the Queensland startup ecosystem, and I can’t wait to see this new team work together to take what RCL has done all around Australia.