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Contxto – As tech-efficient as we are, we can’t deny that duck tape continues to restrict more startups from sprouting in Latin America.
Realizing this, Liquid Venture Studio (LVS) recently partnered with law firm Rodrigo, Elías y Medrano Abogados (REM) in Peru. Together, the companies will launch the first-ever accelerator to support legaltech startups.
Interested participants can submit applications until July 14. Known as LVS Challenge – Legal Tech Edition, the accelerator will only select three applicants to hop on-board.
The 24-week Lima-based program will help founders grow their startups through mentoring and coaching on various subjects. Some of these include digital product and service design, as well as growth hacking. Finally, these companies will be eligible for a seed funding pool of US$300 thousand.
Both partnering companies aim to invest in innovative solutions to improve the legal industry in Peru, Latin America and beyond.
“Interested startup must fill out this form, of which only three will go through the acceleration program, valued at US$45 thousand,” said Director of LVS Mauricio Andújar in a recent press release.
“The legal market has historically been seen as a reticent sector to innovation and change,” said Luis Carlos Rodrigo from REM. “However, due to the new demands and needs of customers as well as the very impulse of legal tech startups, the legal sector is already passing by a process of transformation and modernization at an accelerated pace.
“In this regard, we believe that boosting the legal tech market in Peru and supporting the digital transformation of law firms is not only an advantage but a necessity,” continued Rodrigo.
Today, there are over 2,000 legaltech startups in Peru and abroad, according to Rodrigo. Both LVS and REM are looking for startups that yield potential both inside and outside of the Peruvian legal sector. Moreover, they should have the potential to scale and reach other international markets.
Also, partners should be able to create enhancements and solutions for various industry players. In the legal world, these range from independent lawyers, studios, judges, researches, citizens, etc. Lastly, the regional potential, innovation, and the team’s commitment and aptitudes, will also be evaluated.
Chosen startups will be notified by August 5.