Top-tier international law firm King & Wood Mallesons (KWM) has partnered with the University of Technology Sydney Hatchery+ accelerator to support collaboration it sees as "vital to the future of the legal profession."
The partnership is a first for KWM, which will run seminars as well as provide legal support tailored for each team in the UTS Hatchery+ accelerator.
Hatchery+ Program Manager Joe Allen says the partnership will be invaluable in helping startups grow.
"One of the most difficult aspects of launching a startup is navigating the myriad of legal documents you need in place to reduce the risks of doing business," he said.
"It can be an expensive process which can kill a startup before it has begun.
"Partnering with KWM will bring a wealth of knowledge and experience to help our startups build a solid legal foundation."
Hatchery+ has just welcomed its third cohort, which includes SkilledSmart, TunaSolutions and buzzbox. The program provides access to mentors, master classes and $2,000 in funding.
The partnership will allow KWM to expose its staff to entrepreneurship and the innovation sector. Sue Kench, KWM Chief Executive Partner Australia, says industry collaboration with startups is vital to the future of the legal profession.
"Growing a mindset of innovation is a strategic priority for the firm. We are constantly challenging our people to think differently, to explore ideas and draw inspiration from outside the legal profession," she said.
"Collaboration is critical to accelerating our innovation agenda which is why the partnership with UTS Hatchery+ is so exciting. It will give our people a unique opportunity to immerse themselves in innovation and expose them to new ways of thinking."
The firm is building on its relationship with UTS, having hosted a hackathon with the UTS Faculty of Law earlier this year. Executive Director of Innovation, Michelle Mahoney, said KWM was looking forward to another opportunity to co-collaborate with the startup community.
"Like UTS, we recognise that young innovators are part of Australia's business future," she said.
"We are proud to support the startup community and the important work of the Hatchery+ by sharing our legal knowledge and expertise with the program's teams."
Last year Hatchery+ helped launch dessert platform GetFoodi, video recruitment company myInterview and drone control company Tekuma.