Hi there, I’m Bryce Greig, CEO of ACAC Innovation. Thanks for visiting the website.
A bit about me
While I’ve recently taken over the daily operations of ACAC Innovation from my father and founder Andy Greig, I have been closely involved in its development and activity since commencement. ACAC Innovation has been operating for over four years and during this time we have created relationships with hundreds of applicants and invested in dozens of promising opportunities. As for me, I started my career as a lawyer and then moved into subcontracts/claims management on some major domestic and international construction projects.
As a result, I’ve had the opportunity to learn how a variety of businesses operate, grow and succeed. I’m looking forward to meeting and working with enthusiastic startups in Brisbane.
What I’m looking for from you
If you’re on this website, you might be wondering what we are looking for in startups that come through our doors. Firstly, I encourage you to familiarise yourself with our website and fill out an application. Aside from the questions on the application, I’ve included below what we personally look for in startups (in order of personal importance):
- Ethics / Personal Compatibility – we expect the highest level of personal and business ethical behaviour at all times throughout our dealings, and potential relationship.
- Committed Founder(s) – we expect the person or people who are applying to have their time fully invested in this idea, or plan to do so in the not-too-distant future. We invest in the people as much as the idea.
- Disruptive idea – The question I always ask myself “will this idea disrupt the status quo / the way things are done now?”
- A reasonable and realistic understanding of the value of the idea – while you may believe your idea will be worth billions in the future (and we want to see you get there!), we will be assessing the value of the idea now, so be sure to do your research and be able to justify your estimates.
- Seeking early stage/seed investment – while we have participated in a handful of larger investments, 95% of our investments are at the seed funding stage. While this is the most exciting time for a potential startup, it is also the most unknown/risky for everyone and the stage we believe our support can be most beneficial.
We do not have a focus on any particular industry or field – we look at all applications, on the merits, and consistent with the questions in the application, and the criteria I have listed above.
What you can expect from me
We commit to providing a short turnaround on investment decisions – you’ll either get a yes, no, or additional information required.
ACAC Innovation’s motto is “Innovation, Incubation, Investment”, and should your application be successful, we provide the following:
- Seed capital to help develop your idea;
- Advice to support the growth of your idea – while we are not involved in the day-to-day management of startups, we will always be there to provide any support we can; and
- Office space to support your growth – our offices are located in Newstead (3kms from the Brisbane CBD), and are able to offer space, at no cost, to small startups to help accelerate their growth (and eventually “move out of home”, as I call it).
Thanks for your interest in ACAC Innovation, and I look forward to hearing from you.