It will offer up to £100,000 worth of legal advice to startups
One of the top 40 UK firms Reynolds Porter Chamberlain (RPC) is offering technology companies with a focus on environmental, social and governance (ESG) issues. It is presenting £100,000 worth of legal advice to early and mid-stage startups along with mentoring and networking opportunities as a part of its new accelerator programme, RPC Tectonic.
Led by RPC's commercial head Jeremy Drew and corporate partner Peter Sugden, the programme hopes to leverage the firm's experience operating in the tech sector to help newer ESG-focused tech ventures to keep up with the evolving market conditions and regulatory requirements.
Sugden said, "We are committed to supporting sustainability, inclusion and diversity and social responsibility and are delighted to launch RPC Tectonic, which is just one part of delivering on that commitment."
"We are really excited to be able to offer meaningful support to companies that we hope will be at the vanguard of addressing some of the biggest issues we face as a society," he added.
The programme, operating under a subscription model, will recruit two companies as its first cohort. Successful applicants will pay a fixed monthly subscription fee between £500-£2,000 in return for legal advice worth five times the monthly fee. The participants will be free to choose their subscription fee.
The accelerator's fee model is similar to other law firms' tech incubator programmes, which generally do not take equity in their selected businesses.
Early to mid-stage ESG-focused tech ventures based anywhere in the world would be able to apply for the scheme. It will also offer advice, mentoring, office access, networking opportunities and assistance with drafting legal agreements for up to 12 months.
RPC, which has offices in London, Bristol, Hong Kong and Singapore, said it would be able to advise businesses of "any jurisdiction, which require legal advice with an English, Hong Kong or Singaporean nexus."
The firm informed that it was actively interviewing applicants and looking to kick off the programme once the two selected companies complete onboarding regulatory requirements.