Slaughter and May, a leading law firm, has unveiled the newest members of its Collaborate incubator programme, showcasing a diverse cohort of innovative legal tech startups. The fourth cohort, which includes companies exploring generative artificial intelligence (GenAI), represents the highest number of applications received to date, indicating a thriving legal tech startup ecosystem.
The Collaborate program, launched in 2019, serves as a platform for startups to test and develop their tools with Slaughter and May's lawyers, business service professionals, and the Client Innovation Network, comprising over 70 client organizations. Partners at Slaughter and May also have the option to invest in cohort members through the firm's Ventures structure.
In 2024, the cohort focuses particularly on companies leveraging AI, with each member incorporating some form of AI technology to varying degrees. The selected startups cover a range of AI applications tailored to legal tasks, including contract review, task categorization, document creation, and pricing proposals.
Among the six new cohort members is Associo, offering a collaborative analysis and forecasting tool powered by AI to assist lawyers in evaluating arguments, predicting outcomes, and verifying statements efficiently. Other startups include Atria AI and LegalFly, both providing GenAI assistants for legal teams and Notarist, which utilizes AI to analyze emails and meeting notes for task categorization and progress tracking.
In addition to AI-focused startups, Collaborate also welcomes Visual Contracts, offering an AI-driven platform for creating understandable contracts, and Virtual Pricing Director, a pricing and profitability tool for creating pricing proposals using AI and structured logic.
Sally Wokes, Innovation Partner at Slaughter and May, expressed excitement about engaging with startups incorporating generative AI and exploring their innovative technologies. Billie Heer, Collaborate Programme Lead, highlighted the program's evolution to align with changes within the firm, its clients, and the dynamic legal tech industry.
Kiah Bradley, Client, and Practice Solutions Executive, emphasized the anticipation surrounding this year's cohort, particularly due to the incorporation of generative AI in all tools. Collaborate 2024 aims to provide startups with access to Slaughter and May's resources and networks, fostering collaboration and innovation in the legal tech space.
Collaborate 2024 will be led by the firm's central Client and Practice Solution team, supported by key personnel such as Jane Stewart, Head of Legal Operations, and Sally Wokes, along with the wider Legal Operations Partner Group.
The Collaborate incubator program reflects Slaughter and May's commitment to fostering innovation and supporting the growth of promising legal tech startups. As the legal sector continues to embrace AI technology, initiatives like Collaborate play a crucial role in driving forward industry advancements and enhancing client service delivery.
