A British technology firm, Tech Nation, has been awarded £2m in government funding to “help support the digital transformation of the UK’s legal sector”, the Ministry of Justice has announced.
Tech Nation will embrace the opportunities of Lawtech, drive innovation and help the UK legal sector grow, the MoJ claimed.
It added that the support “could include encouraging investment and innovation, ensuring understanding, awareness and use of lawtech, exploring ethics and regulation around technology in the legal sector, enhancing the competitiveness of the UK as a global commercial dispute resolution centre and promoting the use of English law and UK jurisdiction as a foundation for LawTech globally”.
The company will be responsible for building on the work of the LawTech Delivery Panel, which was established in 2018.
Justice Secretary Robert Buckland said: "Tech Nation has an impressive track record in both fintech and insurtech and I’m delighted they will be taking forward this initiative.
"This 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.”
Funding for lawtech in the last five years has grown rapidly with £62m invested as of October of this year compared to less than £1.5m invested in 2014.