Fast Forward call for applications
Slaughter and May, the international law firm based in London, Brussels, Beijing, and Hong Kong, has recently opened the fourth application window for “Fast Forward,” its incubation program for startup companies. Applications are welcome by the 31st of August.
The program targets UK startups that utilize emerging technologies. Namely, those with “strong ESG (Environmental, Social, and Governance), diversity credentials, and those using cutting edge technologies in areas such as IoT, telematics, quantum, and biometrics/genomics.”
Also, “Fast Forward” targets early and mid-stage ventures rather than established businesses. However, Slaughter and May will accept applications from newly-formed companies through to the pre‑IPO/exit stage.
“Fast Forward is our emerging tech incubation program which supports the work of technology entrepreneurs and innovators. Through the program, we share our market-leading expertise with a new generation of tech entrepreneurs and innovators whose businesses have the potential to deliver meaningful improvements or increased competition across a broad range of business sectors...”
Previous Fast Forward cohorts included, per Slaughter and May, some of the most innovative UK companies. Namely:
- bio-bean, Bundle, Coconut, CreditMint, Magway, Tully (cohort three);
- Digital Fineprint, Flock, Multiply, TAB, TrueLayer, Valsys (cohort two);
- Enforcd, Tide, Garrison, By Miles, WorldRemit (cohort one).
The program provides services of potentially immense value to early-stage companies. As estimated by Slaughter and May, these amount to 30,000 British Pounds of direct value:
- Legal support (from Slaughter and May’s Emerging Tech and Fintech Team’s legal experts in technology, financial services, intellectual property, data, employment, competition and company law);
- Model documents (templates such as NDAs, employment contracts, and intellectual property transfers);
- Introductions (Slaughter and May’s existing networks and Fast Forward’s consultative panel of leading industry and legal professionals);
- Coaching (individual coaching and development sessions in crucial areas such as pitching, presentations, people management, communications, and negotiation).
Slaughter & May legal tech innovation
While “Fast Forward” has a broader scope, Slaughter and May also has its legal tech innovation focus. Namely, their “Collaborate” exclusively targets legal tech companies.
“Collaborate” was launched in 2019, and has currently closed its 2020 cohort (you can see the participants here).
advice from VC funds and other legal tech entrepreneurs – giving you opportunities to receive advice on securing funding and other practical tips for start-ups and scale-ups;
access to legal tech and innovation specialists based in Europe, the US and APAC to help you set your sights beyond the UK legal tech market;
Access to Slaughter and May lawyers - with opportunities to discuss product development and use cases with lawyers from across our firm. You will have two dedicated mentors – one lawyer and one member of our Knowledge and Innovation Team - who will design a tailored program for you and support you through that program.
Networking and demo opportunities;
Access to our tech sandbox and dummy data - the right environment to test and develop your product in a typical law firm infrastructure.
Legal Tech incubators gain traction
It is exhilarating to see legal tech incubators picking up speed, despite the current macro factors.
Likewise, it is encouraging that biglaw started to open their knowledge-base. With support from biglaw, entrepreneurs could potentially shape the delivery of legal services and access to justice alike.
Recently, we have covered another example - potentially the first-mover NextLaw Labs. We will be watching with great excitement at what other firms will get into the legal innovation race.
CL News Team closely follows events that could potentially shape legal services delivery, the business of law, and influence transformation of the legal space.
If you have important news to share, or would otherwise like to get in touch, feel free to email editorial(at)cloiutlegal(dot)com.