Ashurst has announced the first cohort of businesses for FinTech Legal Labs, a three-day accelerator programme designed to provide FinTech businesses with legal support and access to investors and leading financial institutions.
As evidenced by the large number of companies involved, the Labs programme is not like law firm fintech accelerators such as Slaughter and May’s Fast Forward or AG Elevate from Addleshaw Goddard, which take place over a period of months. However, speaking to Legal IT Insider, partner Abradat Kamalpour, who leads FinTech Legal Labs, said:
“When I designed the programme I listened to what the fintechs said and for them to commit to a three-to-six month programme is quite heavy. We designed the three-day programme because we felt we could cover all the areas of law in day one and two and give them access to clients and investors.”
“We have a lot of post Lab activities planned including breakfasts and events and I’m sure we’ll get requests from clients to meet these companies. We’re thinking about how that will be structured on an ongoing basis.”
Whereas these types of programmes are a good way for law firms to make contact with young companies that they hope will grow to become profitable, it is also a way to help existing larger clients. Kamalpour told us: “We’re also focussed on our institutional clients and helping them to access these companies.”
This latest programme will be run over three days from 20-22 November, and is designed to:
- Cover key areas of law relevant to the accepted FinTech companies and give them access to the firm’s clients and contacts from financial institutions and investors; and
- Provide leading financial institutions and investors access to cutting edge FinTech companies that have been accepted in the programme.
Kamalpour said in a statement:
“We had an overwhelming response to the launch of the inaugural programme from a wide variety of great FinTech businesses operating in the sector. We are really delighted with the businesses that we are talking into the first cohort and the programme is set to be a fantastic platform to bring together know how, collaboration and create partnerships from across the FinTech and institutional sectors.”