South West highlighted in law tech report
The South West has been highlighted as a centre for the UK’s fast growing law tech sector.
LawtechUK, the Ministry of Justice (MoJ) backed initiative has published its Ecosystem Tracker Report.
The report details the growth and dynamism of the UK’s lawtech sector, spotlighting the South West as a burgeoning hub of legal technology innovation.
Amid projections that the sector is on track to secure £2.2bn in annual investment by 2026.
Tracking the sector’s expansion from 37 entities in 2002 to an extensive network of 356 companies in 2023, the report underscores the UK’s dominant stance in the global lawtech marketplace.
According to the report the South West, home to 11 lawtech companies, embodies the dynamic and innovative spirit of the UK’s lawtech sector.
Co-Chairs of Bristol+Bath LegalTech (BBLT) Chris Bull and Dagmar Steffens said: “The LawtechUK Ecosystem Tracker clearly shows that the sector is still in its infancy somewhat, both in terms of numbers of start-ups and the gaps particularly in consumer-facing solutions.
“The Bristol + Bath city region is nationally in the top three of each legal services and technology clusters.
“And on this basis, the West of England’s globally leading innovation cluster identifies lawtech as a clear and significant growth opportunity, with the region becoming a hub for legal technology innovation. While availability of funding is pivotal, so are talent, networks and here in Bristol and Bath, we have all of those in abundance in our existing technology and legal clusters.”
