River City Labs to exit The Precinct in Brisbane as CoSpaces appointed new manager

After more than a decade of fostering Brisbane startups in Fortitude Valley, River City Labs (RCL) has announced it is exiting The Precinct and will no longer be offering co-working as part of its membership fees, with a relocation to Anzac Square in the CBD at a new co-working space in partnership with Hub Australia.

River City Labs was founded in 2012 by entrepreneur and Shark Tank investor Steve Baxter, before being sold in 2018 to the Australian Computer Society (ACS) which also has hubs on the Sunshine Coast, Sydney and Melbourne.

RCL has been based at The Precinct situated within the TC Beirne Building since it was opened in 2017 as part of the $755 million Advance Queensland initiative established to support innovative businesses and attract tech talent to the Sunshine State.

According to its website, more than 700 founders have called RCL home since it began with the hub hosting more than a thousand events aimed at supporting founders on their entrepreneurship journeys, and welcoming more than 29,000 guests into the community.

"After 11 years of success in the innovation ecosystem, and a review of current and developing market needs, River City Labs have decided to increase its focus on the programs and resources it provides members," a spokesperson for ACS told Business News Australia in a statement.

"Along with parent organisation ACS – the Australian Computer Society – River City Labs will be relocating in mid-January to Anzac Square in the Brisbane CBD to a new coworking location in partnership with Hub Australia.  

"This move will include River City Labs members that are co-located at Fortitude Valley, ACS Queensland staff and ACS Staff who visit, ACS members and partners and guests who use our current facilities."

The spokesperson said members will be able to access all of its current and growing programs and services via a digital platform and "continue to be the landing pad for technology entrepreneurs and the communities that enable them".

Meanwhile, the Queensland Government has announced CoSpaces as the new manager of The Precinct under an agreement that will commence at the start of March.

With more than a decade of experience delivering innovation projects for government, corporates, and startups, CoSpaces CEO Ben Howe says the team is thrilled to be appointed to manage of The Precinct.

“The Precinct has long been a beacon of inspiration, fostering the development of cutting-edge technology and groundbreaking companies that have driven Queensland’s innovation ecosystem forward,” Howe says.

“We’re thrilled to be working alongside Advance Queensland, and the wider Brisbane community to support founders, startups, and innovation thrive and grow in the State of Queensland.”

As manager of some of Queensland’s leading entrepreneurial projects, coworking spaces, and innovation hubs, CoSpaces is responsible for over 13,000 square metres of shared workspace, delivering support programs, resources, and events to help Australian tech startups and small businesses grow.

CoSpaces currently manages Cohort Innovation Space, the Queensland AI Hub, LX Health, and OldStation.