The winner of the Slaughter and May Collaborate incubator Demo Day is StructureFlow – which has won the chance to participate in a full-scale pilot with the leading law firm. The startup, which provides lawyers with a visual representation of deal structures, was one of six companies involved in Slaughter and May’s first ever legal tech incubator.
The demo day was the culmination of the incubator process and saw the six companies first each make a 5 minute pitch to the judges (see below) and the assembled audience of lawyers and guests. The audience then voted for a favourite and the top three went to the next round.
Then these final three had to answer one of the questions (see below) posed by the firm – some of which were really thought provoking. The judges then made the final decision and in this case the final three were: Clarilis, LitiGate and the overall winner, StructureFlow.
StructureFlow is the brainchild of Tim Follett, who had been an associate at Farrer & Co until late 2017, and before that at Slaughter and May. The application appeared to capture the audience’s support with the way it turned very complex and sometimes quite abstract deals into a highly structured and visually engaging format (see image below).
Follett told the story of how he had once visited a potential backer and been told to give up and instead work inside another startup run by someone else, as ‘lawyers don’t make good entrepreneurs’. Fortunately he ignored this dismissive advice and decided to press ahead. He noted that lawyers do in fact have the skills to be great entrepreneurs – something that Artificial Lawyer 100% agrees with.
It was a tough field. All six of the companies present offered great products. In particular LitiGate and Clarilis made very strong presentations and provided good answers to the questions they had to answer. But, perhaps Follett’s application won the day because its visual approach really stood out and captured the imagination.
Overall it looks to have been a success for the firm, and all the companies involved said they had got something very useful out of working with the lawyers and innovation team there. It’s understood that the firm is now keen to do this again and Artificial Lawyer looks forward to Collaborate becoming a mainstay of the legal tech landscape.
The full list of the six companies:
- Tabled – a platform which helps lawyers manage tasks and projects by automating workflows and assigning tasks to team members, providing a full picture of the team’s legal work.
- StructureFlow – a platform which helps lawyers and their clients quickly and easily visualise complex legal structures and transactions.
- Clarilis – a document automation tool which can be used for even the most complex of legal documents without the need to amend existing precedents or templates first.
- JUST: Access – an easy-to-use transcription and dictation solution using AI and natural language processing to produce transcripts and related analysis.
- Logiak – a tool which allows users with no coding experience to create complex logic/rule-based systems, for example to create an app to assist in working out if a particular law or regulation applies in a certain situation.
- LitiGate – an AI-powered litigation platform which uncovers hidden insights, provides a bird’s eye view of each case and automates day-to-day tasks.