Mishcon de Reya has selected five new startups for its tech incubator programme MDR LAB, launching its second round today.
The firm has opted to provide legal advice, mentorship and education to two companies based in the UK, two in the US and one in Israel. The companies are real estate startup ThirdFort, collaboration tool DealWIP, claims analysis solution LitiGate, legal budgeting tool Digitory Legal and trademark attorney delivery platform LawPanel.
All of these startups, which range from concept stage to revenue generating, will have access to legal advice, mentorship and education for 10 weeks starting today.
Mishcon chief legal officer and MDR LAB director Nick West said: “The first year of MDR LAB really exceeded our expectations – as our ongoing relationships and investments in the 2017 cohort illustrate. We genuinely enjoy working with these early stage legal tech start-ups to help them bring their propositions to life.
“We’ve found this collaborative approach has accelerated the development of some incredible products and we’re proud of what all of the 2017 cohort have achieved.”
These firms were selected during a pitch process at the firm’s headquarters on 21 March, where 16 companies presented their products and ideas.
Last year Mishcon decided to invest in two of the legal startups that took part in its first MDR Lab. The investments are in Everchron, which develops collaborative litigation management software and Ping, which offers automated timekeeping for lawyers and provides data analysis for law firms.
Mishcon confirmed that the investments were “financial” but did not disclose their size, although they are estimated to be relatively minimal and in the tens – rather than hundreds – of thousands of pounds.
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