Brisbane co-working hub and startup hotspot River City Labs has announced their first ever accelerator program, the fittingly titled River City Labs Accelerator, which has been launched as part of a trial partnership with Telstra-backed accelerator muru-D.
The fourteen week program will be taking applications from today until August 16th, kicks off September 14th, and will offer five startups $20,000 in return for 3% equity. Prospective startups will have to focus on a digital business concept and have been operating for less than two years, and will have the chance to learn more during a Queensland regional roadshow running August 3-14th.
The program offers the usual accelerator attractions – mentoring, networking, co-working – but has a few added perks, notably opportunities to participate in an overseas trade delegation, the aforementioned equity deal, and a global support network. Muru-D run an accelerator program in Singapore, where they launched earlier this year as part of Telstra Software Group’s expansion into South-East Asia.
“This partnership with muru-D is an exciting next step for us,” River City Labs’ Peta Ellis said. “It will be fantastic to be able to leverage muru-D’s best practices, resources and guidance to shape the content and inform the delivery of our accelerator program.
“Local companies will share in the wisdom of some of the most experienced business people in the world. We are thrilled to be working alongside some of the greatest tech minds in the startup ecosystem to deliver our first accelerator program right here at River City Labs.”
Half the seed funding will be supplied by muru-D and the other half by River City Labs investors, with RCL operating the co-working space and muru-D offering, amongst other things, the global networking opportunities. As well as their Singapore connections, Muru-D has partnered with New Zealand hub The Icehouse as part of a networking and practice sharing deal announced in April.
The Sydney-based Muru-D has also been scouting Sunshine Coast and Perth for potential partnerships – Maroochydore’s Zach Johnson, founder of the recently-launched Spark Bureau, spoke to The Sunshine Coast Daily earlier this month about his pitch. While the outcome of Johnson’s pitch remains unknown, muru-D’s focus is currently on the Brisbane program.
“Brisbane has been one of the fastest growing, most active cities in Australia for early stage technology companies,” muru-D Entrepreneur in Residence Mick Liubinskas said. “Our goal is to support it by sharing all the things we’ve learned and developed at muru-D to see more successful, global companies over the next ten years.”
Find out more about the accelerator program here.