A network for technology entrepreneurs was today named as the recipient of the latest government funding for the burgeoning lawtech sector. The £2m, allocated to the Ministry of Justice earlier this year, will go to Tech Nation, which describes itself as 'the leading scaleup network for entrepreneurs'.
Tech Nation will take forward and build on the work of the Lawtech Delivery Panel, the body set up last year to promote and champion technology in the legal sector. Tech Nation already supports the government-backed Fintech Delivery Panel.
The justice secretary, Robert Buckland QC MP, said the funding will 'help support the development and use of UK lawtech, boost wider economic growth and pave the way for a technological revolution in the UK legal sector'.
Gerard Grech, chief executive of Tech Nation said: 'We look forward to working with the LawTech Delivery Panel’s distinguished members, tech entrepreneurs, the Ministry of Justice and the wider ecosystem to grow this sector.'
Jennifer Swallow, former general counsel at financial transfer service TransferWise, will lead the initiative, engaging with the legal services and lawtech community and working with the panel's chair, currently Christina Blacklaws, immediate past president of the Law Society. An early priority for the panel is to draw up a 2022 lawtech vision and specific projects to advance that vision.
International investment in lawtech reached $1.66bn (£1.29bn) in 2018, a 714% increase on the previous year.
Swallow said: 'The transformational potential of tech is huge. Considering the foundational nature of law and legal services for our businesses and wider society, I am delighted to have the opportunity as director of the lawtech delivery function to help accelerate the evolution of the sector through tech. Bringing together industry leaders, our amazing tech talent, the wider legal community and beyond, and engaging candidly on the issues, we can step change the sector to be truly fit for the future, globally.'