Why is the Government of Singapore funding the technological upgrading of law firms?
If you are working in a law firm that has an office in Singapore, you cannot fail to be interested in the technology program for firms launched by the Singapore Ministry of Law in May 2019, which ends in January 2021.
This program costs the first year of investment for the implementation and improvement of a law firm's technology. Funding can range from $22,000 to $73,000, depending on the technological means available, with 70% of the funding paid out during the first year of the grant.
Why is the Singapore government funding law firms' technological improvements? A survey carried out by The Law Society of Singapore (LawSoc) in 2018 revealed that only 12% of law firms in Singapore admitted to having adopted the appropriate technological transformations to improve their performance.
In total, the Singapore government is expected to provide $3.68 million to support law firms in improving their technologies.
In particular, this financial assistance may be particularly beneficial to small law firms. Gregory Vijayendran, President of LawSoc, said: "The new Tech-celerate for Law Programme will accelerate our lawyers' advancement of that journey especially for our smaller law firms".
"Technology is changing the way legal services are delivered and will help power the growth and development of Singapore legal services", said Mr Edwin Tong, Senior Minister of State for Law and Health, said at the launch of Tech-celerate for Law.