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Legalbeagle - AngelHack Singapore 2016
- 1. Find the Lawyer you need
- 2. lack of effective channels client-lawyer mismatch slow growth SMEs with legal concerns young law firm Problems
- 3. Algorithm word scraping enquiry relational mapping natural language processing entity extraction
- 4. Value Proposition increase your paying customers SMEs with legal concerns young law firm find the lawyer you need in 3 clicks
- 5. Market Segment 1-5 Lawyers 6-30 Lawyers Law Firms in Singapore 729 firms 128 firms Total Legal Market in Singapore, 2011 S$1.8 Billion 180,000 SMEs in Singapore 20% 36,000 startups / accelerating
- 6. Go-to-Market Strategy scraping of existing data referrals programme partnership with industries
- 7. Validation Senthil Dayalan ex-Rajah and Tann, current Senior Associate at Eldan Law LLP clients
- 8. Revenue 10% commission Joint Venture Contracts $5,000 Financing $5,000 - $10,000 Employment $600 Typical legal transaction prices
- 9. Milestone 12 months Expansion 18 months Regionalization objectives 10 clients & 900 lawyers 30 clients, Hong Kong & Jakarta 150 clients & ASEAN resources Data scientist, Lawyer & Seed Investment partnerships Dragon Law Local firm w/ overseas reach Local firm w/ overseas reach 6 months Pilot
- 10. Team CEO – Marcus CS, Brown University COO - Jay Talent Acquisition, ShopBack CMO - Joyce Marketing Head, IAM Product - Keith Product Dev, HK PolyU UI/UX - Salman CIS, University of London IT - Brian Comp Engg, SUTD CTO - Vishnu CS, Imperial College PR - Jamie Founder, BEAM
- 11. Find the Lawyer you need
- 12. Competitive Analysis effectiveness of match no. of lawyers on platform
Editor's Notes
- Client: Someone wants to find specific legal advise, find friend. If call firm, will get inaccurate information. Not specific. Cases are more complex than the categories that often represent them. Customer doesn’t understand his problem. Vendor: Inexperienced Lawyers who do not have the capabilities to take on cases that pay because they do not have a history of experience. -- Client: Lack of capital (not enough money to seek for pro lawyer) No direction of solution (Unclear about their target vendor, reverse) Mismatching with lawyer Vendor: No clues on marketing (Lack of experience in self-packaging) Hard to grow big for young law firm ?? -- Client: (WHO) No direction of solution Mismatching with lawyer Vendor: (WHO) Low visibility for young law firm
- Client: Simple matching process to quality vendors (accurate) Vendor: Increase business
- Specificity IBM watson Front-end -> experience Experts SME salman
- Guarantee Specificity Ease of use Provide inexperienced lawyers with more experience
- Salman Graphics: Legal 1.8Bn in Singapore, 150Bn in Asia 2011 https://www.mlaw.gov.sg/content/dam/minlaw/corp/News/Final%20Report%20of%20the%20Committee%20to%20Review%20the%20Reg%20Framework%20of%20the%20Spore%20Legal%20Sector.pdf 180,000 total startups: 9% Startups, 11% Accelerating, Moderate 37%, Mature 33%, Decline 10% (Deloitte) Total Addressable Market for Singapore: 36,000 * 1000 Law firms: 729 (1-5 pax), 128 (6-30 pax), 22 (31+ pax)
- Scraping of existing data Initial ‘free’ period Reduce barrier to entry Referrals Programme Agents and bankers* Partnerships with industries (insurance, property, VCs) IE Singapore, Singapore Business Federation, Trade Association, Events
- Scraping of existing data Initial ‘free’ period Reduce barrier to entry Referrals Programme Agents and bankers* Partnerships with industries (insurance, property, VCs) IE Singapore, Singapore Business Federation, Trade Association, Events salman
- Salman: Financing = $5k - $10k Joint Venture Contracts = $5k Employment = $600
- Salman 180,000 total -> 20% of that is startups and accel -> We reach out to 20% -> Only 5% come onto the site -> 3% conversion rate -> 10 total conversions
- Salman 180,000 total -> 20% of that is startups and accel -> We reach out to 20% -> Only 5% come onto the site -> 3% conversion rate -> 10 total conversions
- Marcus – Brown University, ex-**(law firm)**, CEO, Head of Legal Jay – Cornell University, Former Head of Talent Acquisition - ShopBack, COO Joyce – Ex-Head of Marketing of IAM, CMO Jamie – Co-founder of BEAM, Community Manager Vishnu – CS, Imperial College London, CTO Keith – Product Engineering at HK Poly University, Chief Product Officer Salman – CIS University of London , Mobile Lead at PUB, Lead UI/UX Designer Brian – Computer Engineering SUTD, Back-end Developer salman
- market size == market strategy