Tuesday July 26, 2022
Hub71 and Clara partner to digitise startupsâ€™ legal needs
Partnership offers automated legal services for startups.
Hub71, Abu Dhabiâ€™s global tech ecosystem, has announced a partnership with Clara, a LegalTech startup that offers automated legal services for startups.
The partnership will support Hub71 based startups and provide them with access to Claraâ€™s innovative digital platform, facilitating the complex legal processes involved in setting up, growing and exiting a startup.
Under the agreement, Hub71 will underwrite the costs of its startups who are incorporating their ADGM companies through Clara. The startups will also be able to access preferential pricing for the platformâ€™s wider suite of products, including Claraâ€™s document generation, cap table, and structured data room features, as well as its predictive education function, which educates founders on the full spectrum of legal concepts that are important to their business.
Hashem Alkaabi, Head of Corporate Services at Hub71, said: â€œLegalTech has the power to positively impact startup functions and facilitate expensive, complex and time-consuming processes. Hub71â€™s range of programs, incentives, and partnerships support startups at any stage, making it easier and more affordable for founders to relocate, setup, build and scale successful startups. Our partnership with Clara complements these efforts and will ensure our founders are equipped with the tools and knowledge to make informed legal decisions that can strengthen their success.â€
Patrick Rogers, CEO and Co-Founder of Clara, said: â€œStartups are looking for a new approach to help them overcome the pain and complexity of dealing with legal matters. We are thrilled to be announcing this partnership with Hub71. More than 50% of Hub71 companies are already Clara customers and we look forward to continuing to support the growing roster of exciting startups who are choosing Hub71 as their launchpad.â€
Hub71 is home to startups from 25 countries worldwide operating in 18 sectors, including artificial intelligence, big data, and analytics. Through its partnerships, Hub71 connects entrepreneurs with impact-driven investors and corporates and supports them with scaling their businesses and accessing global markets.
Hub71 is Abu Dhabiâ€™s global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation.
Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors. Through Hub71â€™s entrepreneurial infrastructure, value-add programs, enabling services and support packages, founders can build, and scale widely adopted technologies with purpose and impact. Hub71 is on a mission to introduce new minds and technologies to Abu Dhabi, finding new ways to build globally enduring technology companies and sustain the nationâ€™s continuous economic development.
Clara is an operating system that digitises and automates startup legal expertise. Clara educates and empowers founders to address many of the tasks currently performed by lawyers, including incorporating companies, drafting agreements, building cap tables, structuring data rooms and predictively educating founders on legal concepts. At the same time, Clara acts as a collaboration and information sharing tool for founders, investors and lawyers so that the key players in the global startup ecosystem can work together more efficiently. Clara is led by a seasoned team of entrepreneurs who have worked at the upper echelons of the legal and technology industries.
Earlier Hub71, Abu Dhabiâ€™s global tech ecosystem, has announced the launch of the second edition of â€œThe Outliers Programmeâ€, bringing together leading corporate and government partners including Aldar, Department of Culture and Tourism â€” Abu Dhabi (DCT) and Department of Health â€” Abu Dhabi, and Thales to present business and operational challenges for tech startups to solve.
The Outliers is Hub71â€™s annual programme designed for tech startups worldwide to solve real challenges set by participating organisations in the public and private sectors. The Outliers facilitates startup collaboration with major corporations and government departments across Abu Dhabiâ€™s diversified economy, offering founders the ability to respond with technology-led approaches that address their challenges. Startups will have the opportunity to customise their product to support the organisationâ€™s business objectives, develop commercial deals, and gain up to Dhs100,000 in value to fund the development of their POC.
The second edition of The Outliers features seven challenges from five leading organisations, including Aldar, DCT, DoH and Thales.