Cyril Amarchand launches India's first legal tech incubator, PrarambhFebruary 20 2019
Cyril Amarchand Mangaldas has launched Prarambh, India's first legal technology incubator.
Launched with a view to supporting innovation in the field of legal technology, the Prarambh initiative will aid young entrepreneurs in coming up with new technology-based solutions for the legal industry.
Managing Partner of Cyril Amarchand, Cyril Shroff said in a press release,
“Our Firm has a proud tradition of innovating in the Indian legal market. We have been first to adopt a number of new technologies in the legal space, such as artificial intelligence based machine learning, and we are now the first to support and incubate technology start-ups."
The areas covered by the initiative will include access to justice, dispute resolution, law firm operations, legal research, compliance, and managing legal talent, among others.
Prarambh will initially be housed in the Delhi office of Cyril Amarchand, and will later be extended to other locations.
On the potential of Prarambh, Cyril Shroff stated,
“The potential is enormous...CAM also believes that there is a deep pool of undiscovered and under-supported legal and technology skills in India that can be fostered to fill this gap. I am extremely confident that Prarambh has all the ingredients to radically transform legal-tech landscape impacting both transactions and dispute resolution, CAM is setting the ball rolling for emergence of India as an important player in this legal technology domain.”
Applications will be open to technology startups developing products or services for the legal industry. Initially, 3 to 4 high-potential startups will be selected. These new businesses will be supported by Prarambh, which will provide them with mentorship and a co-sharing workspace with IT infrastructure.
Applications for selection to Prarambh will remain open from April 8, 2019 to April 30, 2019 (form will be available here). The list of shortlisted startups will be announced on May 31, 2019. The candidates will be invited for interview and to make a pitch in June 2019, which will be followed by announcement of successful candidates in the first week of July 2019.
Prarambh is an initiative fostered by the CAM Innovation Lab, which was set up in May 2017. The team is headed by Komal Gupta, who has over fourteen years of experience in the fields of legal operations management, business development, and regulatory compliance. The CAM Innovation Lab also has six tech-savvy lawyers who work on innovation in the legal tech space.
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