New initiative will provide support for up to ten early stage tech-driven businesses
Slaughter and May, the international law firm, today announces an expansion of its work with entrepreneurial technology businesses. The firm will be making available legal and other support with a value of at least £300,000 to up to ten UK-based technology-driven businesses in the financial services sector through its Fintech Fast Forward programme.
The first formal application round for the programme – now entitled Fintech Fast Forward – will open on 17 November. Any UK-based start-up or scale-up business operating in fintech and similar fields, including insurtech, regtech, datatech and blockchain/distributed ledger technology can apply.
Each business accepted into the programme will be eligible to receive £30,000 of value add services such as legal advice and guidance from experts at the firm, access to model legal documentation, as well as network access and tailored one-to-one coaching on topics such aspitching, presentations, people management, communications and negotiation.
A consultative panel of leading legal and industry professionals includingMike Lynch, CEO of Invoke Capital; Trevor Callaghan, General Counsel of DeepMind Technologies; Ophelia Brown, General Partner at LocalGlobe and Sigga Sigurdardottir, Chief Customer and Innovation Officer UK at Santander, will help the firm to identify businesses that stand to benefit most from the programme.
Throughout its long history, Slaughter and May has both supported and practised entrepreneurialism and innovation. Through the Fintech Fast Forward programme the firm aims to share its market-leading expertise with a new generation of tech entrepreneurs and innovators whose businesses have the potential to deliver meaningful improvements or increased competition to financial services and markets.
Rob Sumroy, partner at Slaughter and May, commented;
“We created Fintech Fast Forward because we recognise the depth of talent which exists in the UK’s entrepreneur population, and now more than ever we need to nurture that talent. A number of the firm’s most active clients first came to us as promising entrepreneurs and we hope that many of the entrants to this programme will have the potential to go as far”
Ben Kingsley, partner at Slaughter and May further commented;
“We are acutely aware of how tough it can be for new businesses to access the first class legal support that will contribute to their success – success that will drive growth and create jobs. We know that businesses can fail simply because their supporting infrastructure isn’t sufficient – and this can also be major a stumbling block at key fundraising milestones. We are offering first rate practical support and guidance to early and mid-stage fintech ventures because we back the talent that we know exists in the UK”
CEO of Invoke Capital and Fintech Fast Forward consultative panel member, Mile Lynch, believes that the programme is filled with opportunity and will be beneficial to help young fintech businesses fulfil their potential.
“Slaughter and May’s Fintech Fast Forward programme is intended to help young fintech businesses fulfil their potential. I’ve worked with Slaughter and May for many years now and I’m confident the firm can provide a significant boost for any ambitious business which isaccepted into the programme”