Grants of up to £4 million available to support LegalTech projects in AI and data

Two innovation competitions for Transforming accountancy, insurance and legal services with AI and data launch today (18th June), offering grants of up to £4 million.

UK Research and Innovation will invest up to £12 million in innovation projects to support the application of artificial intelligence (AI) and data technologies in three target sectors: legal services, accountancy and insurance.

According to Innovate UK these are sectors “where there is an imminent threat from overseas competition”.

The competition is part of the Next Generation Services Challenge and there are two strands to the project:

Small Projects Strand

To lead a project in the small projects strand your business can work alone and must:

• be a UK based business
• involve at least one micro, small or medium-sized enterprise (SME)

Total project costs should be up to £400,000 and projects should last between 1 and 2 years.

Large Consortia Strand

To lead a project in the large consortia strand you must:

• be a UK based business, academic or research and technology organisation (RTO)
• involve at least one micro, small or medium-sized enterprise (SME)

Total project costs should be between £2 million and £4 million, and projects should last up to 2.5 years.

The deadline for entering the competition is August 15th 2018 and projects should plan to start on December 1st 2018. All projects must complete by 31st March 2021.

Photo by Michael D Beckwith on Unsplash

Originally published at Technomancers — LegalTech Blog.