FinTech) but involved in legal innovation R&D. Four companies responded to the invitation and interviews were carried out in early 2023 with (i) Validient, (ii) Credas, (iii) Wyser, and (iv) Identitech. To maximise engagement, we also (i) issued a public call for Welsh start-ups involved in LegalTech, via Legal News Wales, and (ii) developed an online survey for companies that had not responded to invitations to interview. However, no further engagement resulted from these efforts. 4.2 Mapping the LegalTech start-up and scale-up ecosystem in Wales The Welsh start-up and scale-up ecosystem encompasses a diverse and blossoming range of companies, contributing to the growth of the economy and fostering innovation. As mentioned above, we distinguish two categories of companies: 1) LegalTech start-ups and scale-ups : companies that are primarily engaged in the development and marketing of legal technology aimed at the provision of legal services, in line with the definition set out in chapter 2. 2) Other start-ups and scale-ups developing legal innovation : companies that, while primarily engaged in the development and marketing of other types of products and services, are involved in LegalTech R&D as part of their business activities.
a) LegalTech start-ups and scale-ups 231 Validient 232
Established in 2021, Validient offers compliance management tools and digital client onboarding systems for legal organisations, estate agents, and other regulated businesses. The start-up was
founded by Ieuan Leigh, Karl Turnbull, Gareth Williams, and Thomas Elliott and is supported by the Welsh Government, Wesley Clover, Alacrity Foundation, and the Waterloo Foundation 233 . According to co-founder and CEO Ieuan Leigh: Validient is an end-to-end commercial client lifecycle management system with a focus on maximising the output of firms’ current systems, whilst keeping clients in an all-in-one hub. With a focus initially on onboarding and ongoing engagement, the vision is to increase transparency
231 Please note that, where not differently referenced, information concerning the products and services offered by the companies listed below have been summarised from the respective company website. 232 See https://validient.com/. 233 Ibid.
35
Made with FlippingBook HTML5