City outfit’s ‘MDR LAB’ housed six companies for ten weeks
Mishcon de Reya has invested in two of the six legal tech start-ups it welcomed through its doors earlier this summer as part of its first technology incubator programme.
The project saw the firm invite six small businesses to spend ten weeks at its futuristically-named ‘MDR LAB’, working alongside some of its top legal and business minds. Now, Mishcon has revealed it has made financial investments in Everchron and Ping, two of the incubator’s start-ups, but hasn’t said how much cash it chucked their way.
Everchron, a US firm founded by ex-litigators, has developed “collaborative litigation management software” that can automatically generate witness files and allows lawyers to quickly find relevant information. Mishcon confirmed it had also put pen to paper on an enterprise-wide licence with Everchron, allowing its lawyers to make full use of the software.
Meanwhile, Ping — another business with strong links to the US — has created a programme that automates timekeeping for lawyers and provides data analysis for law firms. Mishcon has also agreed a “further co-development project” with the company.
Mishcon has said it continues to develop relationships with all of the incubator’s inaugural participants, the other four names being Orbital Witness, SaltDNA, Synergist and Surukam. Commenting on the investments, Mishcon de Reya’s chief strategy officer and director of MDR LAB, Nick West, said:
“We had a fantastic first year of MDR LAB. The programme achieved a lot. We met and worked with some great people and some innovative companies and are thrilled to announce these first two investments. We’re excited to continue to work with all of our 2017 cohort and to see what MDR LAB 2018 brings!”
The firm — which is one of a number of City outfits to launch similarly tech-focused projects — also announced that it would relaunch its MDR LAB in 2018. Applications are expected to open shortly.