Top law firm Slaughter and May is looking to build relationships within the UK fintech scene by giving 10 startups free legal services worth tens of thousands of pounds.
Next month the London-based giant will open the doors to its first Fintech Fast Forward programme, inviting applications from startups in areas such as insurtech, regtech, datatech and distributed ledger technology.
A consultative panel of experts including Santander's chief customer and innovation officer for the UK, Sigga Sigurdardottir, and former Autonomy chief Mike Lynch, will pick up to 10 firms to join the programme.
Each business accepted will be eligible to receive £30,000 of value add services such as legal advice and guidance from experts at the firm, access to model legal documentation, as well as network access and tailored one-to-one coaching on topics such as pitching, presentations, people management, communications and negotiation.
Slaughter and May isn't the first law firm working to build relationships with fintech startups that could one day become unicorns and valuable clients. In May Simmons & Simmons set aside £100,000 a year to provide free legal advice to three or four young companies in the sector.
Rob Sumroy, partner, Slaughter and May, says: "A number of the firm’s most active clients first came to us as promising entrepreneurs and we hope that many of the entrants to this programme will have the potential to go as far."