River City Labs Sold to ICT Professional Association ACS
River City Labs (RCL), the incubator behind some of Queensland’s most successful tech startups, has been sold to ICT professional association ACS.
ACS is the professional association for Australia’s ICT sector and intends to invest heavily in the future of the incubator.
The association’s acquisition will take effect immediately, and includes the operations of the RCL Accelerator and Startup Catalyst.
ACS says it intends to invest $7.5 million in RCL over the next three years to ramp up the incubator’s mission to support tech entrepreneurs.
RCL was founded by serial entrepreneur and Shark Tank judge Steve Baxter (pictured right) in 2012 to foster the growth of tech scale-ups in Queensland and build the platform solutions for the world of tomorrow.
Read the full article in Business News Australia by Journalist David Simmons