Mishcon de Reya has selected six companies that form the first batch of its technology incubator, MDR Lab.
The start-ups edged 13 other companies that participated in the law firm’s pitch day on 25 April. The companies – which come from Germany, the US, the UK, and India – make a broad array of technologies that are all applicable to the legal industry.
For 10 weeks starting 8 May, Everchron, Orbital Witness, Ping, SaltDNA, Surukam, and Synergist will work inside Mishcon. They will work with the firm’s lawyers to further develop their technologies within their target market, gain better understanding of the legal services industry, and have access to the firm’s lawyers and other business experts from inside and outside of the firm.
Everchron, a US-based company founded by former litigators, develops collaborative litigation management software that features intuitive search, dynamic key document chronologies, and automatically generated witness files.
Orbital Witness, a concept-stage start-up, aims to analyse satellite imagery to give real estate lawyers actionable insights. The software will provide historical images of a site, gather images from commercial satellite operators and space agencies, and use machine learning and existing real estate data to analyse images.
Ping, a US-based company founded last year, automates timekeeping for lawyers and provides data analysis for law firms. Already in the user stage, it aims to negate the up to 20% loss in billable time and the loss of critical data for law firms resulting from manual timekeeping.
SaltDNA, a company which already has 17 staff members in Belfast, makes fully enterprise-managed software platform for secure mobile communications. The company is already in the user stage and is generating revenue.
Surukam, founded in 2015 in India, is also already being used by clients and is generating revenue. The company makes artificial intelligence-powered automatic contract management software. Based on the principle of predictive analysis, the platform assists in automation of contract extraction, redlining contracts, and deviation analysis.
Synergist, which is based in Berlin, provides a secure cloud service to automate contract-terms negotiation. The platform reduces deal cycles by automating contract workflow and guiding users through negotiations.
MDR LAB was
launched in January with L Marks. SeedLegals recently partnered with Mishcon and L Marks for the program, the firm said.
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