MDR LAB provides legal tech start-ups with real business insight
Tuesday evening saw the culmination of ten weeks hard work as five start-ups presented at the MDR LAB demo day. The MDR LAB provides legal tech start-ups with real business insight giving them the opportunity to develop, refine and test their innovative products and services in a real live legal environment.
The start-ups have hailed from afar afield as Tel Aviv, San Francisco and New York as well as home grown talent from London, all being supported by mentors from across Mishcon de Reya network.
The demo day opened with two of the 2017 cohort reliving their experiences and giving an insight into the support that MDR has offered. This covering not only the ten week programme but also subsequently, including helping PING, who have developed an automated timekeeping system using machine learning for large law firms, raise over $3M of development funding from some of Silicon Valleys’ largest venture capitalists.
But of particular relevance to the residential market in the 2018 cohort is ThirdFort, who are developing escrow services to residential conveyancers, enabling outsourced handling of client funds. Co-founder Olly Thornton-Berry said
“MDR LAB has turbo charged our progress in helping shape our strategy as we build our first product to begin improving the property buying experience. For a start-up, gaining access to so many property lawyers and getting to grips with the pain points of property settlement has been enlightening. We look forward to developing our offering to the residential market and also our continued relationship with Mishcon”.