Slaughter and May opens third round of applications for tech incubator
The firm has rebranded its 'FinTech Fast Forward' incubator
October 23, 2018 at 08:02 AM
2 minute read
Slaughter and May has opened its latest round of applications for the third stage of its tech entrepreneurs programme, Fast Forward.
The firm is looking for about five UK-based technology businesses, each of which will receive £30,000 in free services including legal advice, access to model legal documentation and tailored coaching in areas such as pitching and presentations.
The programme – previously known as 'Fintech Fast Forward' – is opening to a wider net of emerging tech companies than in previous years, with startups from the cryptography, cybersecurity, robotics, internet of things, machine learning and blockchain fields invited to apply, as well as fintech.
Slaughter and May also hopes to include one or more businesses with a sustainability or greentech focus in the cohort and will particularly encourage businesses with strong environmental credentials to apply.
Last year 50 businesses applied to join the programme, with six making it through.
As with previous years, the programme is led by London partners Ben Kingsley, co-head of the firm's fintech practice, and Rob Sumroy, head of the firm's technology and outsourcing practice (pictured left to right).
Kingsley said: "There are a lot of lawyers providing great service to the SME economy on the nuts-and-bolts stuff, but if you need advice on high-stakes or complex regulatory issues, or data, or tax structuring, there are fewer firms that can do that for a startup at the right price point."
He added: "A lot of our traditional client base likes to know what's happening at the bleeding-edge of new tech, so we've been able to use the programme to give insight, to build out our knowledge and to demonstrate a track record. So, it's been really a win-win for us and the clients."
The programme has also led to recruitment opportunities. According to Kingsley, prospective trainees often ask if they will be able to work with emerging tech companies if they join the firm. He says: "Young lawyers are interested in the mega M&A deals that get to the front of the FT, but they also love the startup world, especially emerging technology. Working with companies like those in our programme enables us to give our lawyers both of those experiences."
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