The country has announced a programme focused on building up tech expertise for the legal marketplace.
Singapore is making moves in legaltech as it announces that it will host Southeast Asia's first legaltech accelerator from April. The plan is to grow legaltech startups as well as incubate new business models or services conceived by law firms. The Future Law Innovation Programme (FLIP) will create a legal innovation lab and a LawNet Community, a virtual collaboration platform which allows the legal community to network and access tech tools.It will also create a 100-day accelerator programme, Accelerate which will provide startups with mentorship and seed funding from Singapore's development agency, Spring, and venture capitalists. Law firms will receive 70 per cent of the cost of funding new technology for their practices under the new initiative.