‘Global Legaltech Venture Days’ in an Increasingly Globalized Legal Sphere

This article was written by Gabrielle Orum Hernández for The American Lawyer International. The original article was found via: https://www.law.com/international/2018/06/04/global-legaltech-venture-days-takes-on-an-increasingly-globalized-legal-sphere/?kw=%27Global%20Legaltech%20Venture%20Days%27%20Takes%20On%20an%20Increasingly%20Globalized%20Legal%20Sphere&et=editorial&bu=International&cn=20180605&src=EMC-Email&pt=International%20News&pc=INTALERT

 

Madrid-based IE Law School, along with partner organizations Law Schools Global League, South Summit and global law firm ONTIER, is this year hosting a global innovation competition for early-stage legal tech companies. Competitors will compete in Global Legaltech Venture Days events scheduled in Singapore, the United States and Mexico, which will culminate in a finals event hosted in Madrid.

The competition, according to its website, seeks out organizations that can bring a “positive impact on major challenges faced by legal operators or legal systems with the aim to improve their operations and promote the cause of justice.” The winning organization will be eligible to participate in a legal tech residency program through both IE and ONTIER to support its work.

Northwestern University’s Pritzker School of Law in Chicago is set to host the U.S. Venture Day on June 15, while Instituto Tecnológico Autónomo de México (ITAM) will host Mexico’s Venture Day on June 20.

Javier de Cendra, dean of IE Law, explained that IE’s business school has long hosted Venture Day events in different cities across the world to acclimate students and alumni to startup development and connect them to potential investors. IE Law thought that adopting the model could be a way to both help bring these opportunities to law students and help foster broader dialogues about what kinds of technology could best support legal services in the digital age.

“We thought that it makes sense to use the resources we have at IE Law School to do a large activity around legal technology,” de Cendra told Legaltech News.

Chief among those resources are IE’s vast network of partners and resources. Two of the Global Legaltech Venture Days partners are member-based consortium groups—the Law Schools Global League and South Summit—and the group is actively courting new participating law firms and host institutions. IE Law also runs “innovation farms,” a set of resources for student and alumni startups looking to get off the ground.

Global Legaltech Venture Days now joins with a few other major hackathons and competitions that have begun to take shape in the legal technology space. The Global Legal Hackathon, which recently hosted its finals event, hosted companies drawn from 40 countries as they brought their ideas before a panel of judges.

The cross-regional focus on many of these latest hackathon competitions may highlight the growing interest in working across country lines to develop legal technology. Language and regional needs tend to guide a lot of legal technology development, but de Cendra noted that much of the core technology likely to shape the legal industry in coming years has broad applicability across borders.

There are a few different approaches de Cendra flagged. Multinational mega-firms have invested heavily in technology to help them conduct global work, while others are “adapting the technology to develop to the regional market, to jurisdiction-specific solutions.”

“Those companies are regional-level, solving regional problems, but the technology they’re using is the same technology used across the world,” de Cendra added.

Building a global conversation around these shared technologies, as well as what different regions may be able to offer one another, is part of what de Cendra and the team behind the project hope to offer. “By creating this network, what we really do is connect the dots,” de Cendra noted.

To that end, de Cendra thinks the current participating locations for the Global Legaltech Venture Days need to expand to fit a growing audience. De Cendra and others are actively looking to build partnerships and potential Venture Days hosts in Africa, as well as more opportunities across Latin America and Southeast Asia.

 

 

 

This article was written by Gabrielle Orum Hernández for The American Lawyer International. The original article was found via: https://www.law.com/international/2018/06/04/global-legaltech-venture-days-takes-on-an-increasingly-globalized-legal-sphere/?kw=%27Global%20Legaltech%20Venture%20Days%27%20Takes%20On%20an%20Increasingly%20Globalized%20Legal%20Sphere&et=editorial&bu=International&cn=20180605&src=EMC-Email&pt=International%20News&pc=INTALERT

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