Law Firm Hall & Wilcox has chosen 10 startups for its 2022 Frank Lab accelerator program, spanning climate to edutech, fintech and even art.
Frank Lab 2022 follows the success of the 2021 female-focused cohort and the 2020 and 2019 programs, which helped accelerate a broad range of businesses and their solutions. These included an open banking/data-sharing platform, rocket engine technologies, inclusive clothing for people with disability, eco-friendly period products, new contraceptives and social enterprises.
Frank startup practice Senior Associate Jasmine Koh and Special Counsel James Bull, who head up the annual program, said the startups involved receive a $5,000 credit to spend on legal services and get to work with an experienced lawyer as their own trusted legal advisor for the duration of the program.
“We are looking forward to tackling the weird and wonderful challenges that arise when working with clients who are providing novel technology-based solutions,” they said.
Hall & Wilcox also offers office space nationally to the startups involved as well as access to the firm’s Smarter Law technology solutions and introductions to its business contacts, including accountants and investors, along masterclasses, covering topics ranging from raising capital to how to value your business.
The startups involved will receive 50 of the 100 points required to qualify as an Early Stage Innovation Company (ESIC).
Investors in eligible startups receive significant tax incentives, such as an immediate tax offset or rebate equal to 20% of their investment, capped at $200,000 in each income year, and can access modified capital gains tax treatment for their shareholding.
The Frank Lab 2022 businesses are:
|AIBUILD||AIBUILD develops and applies artificial intelligence (AI), machine learning and virtual reality (VR) tools to provide customised solutions to a range of businesses, in such industries as real estate, education and research and development.|
|Book an Artist||Book An Artist is a digital marketplace that connects and streamlines the process of commissioning original artwork. This art-tech tool is currently live across Australia, Singapore and the UK.|
|Circle 8 Clean Technologies||Circle 8 Clean Technologies is a cost-effective waste-management solution that aims to optimise resource usage and keep resources within the circular economy to create a more sustainable future.|
|Cybera||Cybera is on a mission to stop money laundering and help protect customers from financial cybercrimes. Cybera’s solutions share crime data in real-time with financial institutions, fintech and crypto exchanges.|
|DigiSoil||DigiSoil provides geospatial digitisation and mapping of soil data across farming paddocks and down the production profile. These maps allow for precise management and optimisation of agricultural production.|
|Edapt Education||Edapt Education personalises teaching and learning to the needs and interests of each individual student through each year of primary and high school through a data analytics platform and learner profile.|
|Fyrrr||Fyrr (pronounced ‘fire’) is an AI-powered platform that empowers people in the workplace to quickly find the answers they need by delivering learning content that is accessible, on-demand and carefully curated.|
|Stripped Supply||Stripped Supply is Australia’s first diabetes pharmaceuticals subscription box, allowing patients to order, schedule and refill life-saving diabetes supplies so they never run out.|
|Ultimate Athlete||Ultimate Athlete, through its app, UAre, aims to help users to ‘add meaning to movement’ – understand their favourite activities with help from leading athletes, connect with exercise buddies and live a healthier, happier and longer life.|
|Unhedged||Unhedged is an easy-to-use investment app – different to robotech (no static rebalancing) and unlike hedge funds (no high-frequency trading). Its algorithms analyse millions of data points and actively trade every day.|