RPC launches accelerator programme for global ESG-focused tech companies
RPC Tectonic to offer up to £100,000 worth of legal advice to early- and mid-stage startups along with mentoring and networking opportunities
Top 40 UK firm RPC is offering technology companies with a focus on environmental, social and governance (ESG) issues up to £100,000 worth of legal advice as part of the firm’s new accelerator programme, RPC Tectonic.
Led by RPC’s commercial head Jeremy Drew and corporate partner Peter Sugden, the programme hopes to leverage RPC’s experience operating in the tech sector to help newer ESG-focused tech ventures keep up with evolving market conditions and regulatory requirements, the firm said.
The programme, which will operate under a subscription model, will recruit two companies as its first cohort. Successful applicants will pay a fixed monthly subscription fee of between £500 and £2,000 in return for legal advice worth five times the monthly fee, with participants being free to choose their subscription fee.
The accelerator’s fee model is similar to that of many other law firm tech incubator programmes, which generally do not take equity in their selected businesses.
Early to mid-stage ESG-focused tech ventures based anywhere in the world will be able to apply for the scheme, which will also offer advice, mentoring, office access, networking opportunities and assistance with drafting legal agreements for up to 12 months.
RPC, which has offices in London, Bristol, Hong Kong and Singapore, said it will be able to advise businesses of ‘any jurisdiction which require legal advice with an English, Hong Kong or Singaporean nexus’.
“As a firm, we're committed to supporting sustainability, inclusion and diversity and social responsibility, so we are delighted to be launching RPC Tectonic, which is just one part of delivering on that commitment,” Sugden said.
He added: “We are really excited to be able to offer meaningful support to companies that we hope will be at the vanguard of addressing some of the biggest issues we face as a society."
The firm said it is actively interviewing applicants and looking to kick off the programme once the two selected companies have completed onboarding regulatory requirements.
In other ESG and tech news, UK Magic Circle firm Linklaters announced last month it had become a strategic partner on SoftBank’s Vision Fund Emerge 2021 programme, a scheme designed by the Japanese conglomerate to promote diversity in tech by supporting underrepresented startup founders.
And back in May Allen & Overy 's tech incubator Fuse announced its latest cohort, adding 11 startups amid rising demand for digital legal solutions during the pandemic that included ESG and sustainability compliance company Greenomy.