Frank Lab lures future-focused tech startups to 2022 program
Hall & Wilcox has launched its Frank Lab 2022 accelerator program, which will focus on startups innovating in the digital economy and technology space. The 10 chosen startups range from climate-tech to edutech, fintech to art-tech, and look to solve current and future challenges.
Frank Lab Co-Leads James Bull and Jasmine Koh discuss how Hall & Wilcox’s Frank Lab accelerator came about, and how corporate law can be applied in novel ways to do business. Several of our 2022 cohort members: Andrea Koch from DigiSoil, Warren Sare from Circle 8 Clean Technologies and Victoria Kossoff from Fyrrr, share what they are most looking forward to as part of the program.
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 | Fyrrr (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. |
Each chosen startup will:
- receive an initial $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;
- have the opportunity to regularly meet with their Frank Lab Trusted Advisor who will assist them in identifying their legal needs and achieve their commercial objectives;
- be introduced to Hall & Wilcox networks, including accountants and investors;
- participate in a program of masterclasses, covering topics ranging from raising capital to how to value your business; and
- gain access to Hall & Wilcox office space nationally and the firm’s Smarter Law technology solutions.
By participating in Frank Lab, companies will receive 50 points 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.
Frank Lab 2022 follows the success of the 2021 women-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.
Senior Associate Jasmine Koh and Special Counsel James Bull, who head up the firm’s Frank startup practice said, ‘We are looking forward to tackling the weird and wonderful challenges that arise when working with clients who are providing novel technology-based solutions.’
Hall & Wilcox is a leading independent law firm of more than 950 people, including over 110 partners. We service corporate, public sector and private clients, both Australian-based and those offshore doing business in Australia.