Lucius Report, the startup that makes compliance easy, wins Global Legaltech Venture Day final in Madrid
After celebrating three Venture Days in Singapore, Chicago and Mexico, Lucius, a legaltech startup that focuses on generating due diligence reports and aims to make compliance easy, wins Global Legaltech Venture Day final organized by Ontier, Law Schools Global League and IE.
In the past four months, more than 60 startups participated in the Global Legaltech Venture Days. Startups participating in this legaltech startup competition, hosted by ONTIER, Law Schools Global League, IE and South Summit, have been hand-picked to participate in the final global startup competition. Esquify (Chicago), Lucius Report (Mexico) and EasyLaw (Singapore) are the winners and inspiring innovators that made it to the final round, but only one could be selected the winner of the final prize and incubator program.
These startups made their way to the finale to pitch in front of our final panel of judges, which included: Javier de Cendra, President Law Schools Global League; Adolfo Suárez Illana, ONTIER International President; Liz Fleming, Principal Adara Ventures, Advisor at South Summit; Mario Brassesco, Venture Capitalist at Encomenda Smart Capital and Ignacio Longarte, Board/Advisory board member in EU Digital start-ups & investor. After a difficult deliberation, we have a winner: Lucius from Mexico.
“We are a legaltech tool that generates due diligence reports, combining algorithms and the legal expertise of qualified lawyers to deliver a comprehensive, relevant and easy to grasp report”, explained Guillermo Miranda, Co-Founder and Legal Director of Lucius, during his pitch at the Global Legaltech Venture Day final, and further explains the idea of their innovation. “in simple terms is to use the technology they designed to gather comprehensive publicly available information of the analyzed individual, which is later on reviewed by one of our lawyers to deliver an executive report with the most important and relevant information that our clients need”.
“Our model is completely scalable. At this stage we are seeking for investment to boost our expansion so that we can replicate our technology in other jurisdictions”, explained Guillermo.
Connecting legaltech talent
This global program has been designed to “identify and support start-ups that have the ability to have a positive impact on major challenges faced by legal operators and legal systems”.
“We seek to build a global conversation around these shared technologies, as well as what different regions may be able to offer one another. By creating this network, what we really do is identify talent, innovation and connect the dots,” de Cendra noted in his opening speech.
“We are not only looking for ideas and projects, but for people. People who develop projects to make a better world”, said Adolfo Suárez Illana, ONTIER International President, in his opening speech.
The panel on the future of the legal industry was moderated by Joaquín Muñoz, Head of IT Law at ONTIER. During the panel Eva Bruch, Partner and Founder AlterWork, Alejandro Touriño, IP/IT Lawyer, Managing partner at ECIJA and President IT Section at ICAM and Jorge Morell, Founder Términos & Condiciones discussed the state of legaltech in Spain, how law firms and legal departments can innovate and implement technology in their firms, the main challenges they face in the process of innovating and how to be a more effective and efficient lawyer.