CASE STUDY – LEGALPROOF LTD

The Startup is called LegalProof and specialises in the automation of Will Writing. 

A year ago, Luke and Ryan, two aspiring student/startups came to the Technology Startup team from two different universities, Coventry University and the University of Leicester respectively. They wanted to make their dreams of setting up their businesses come true. So, they joined a twelve-hour workshop, The Launchpad, in order to test the viability of their business ideas. The Launchpad is offered via the Coventry & Warwickshire Business Support Programme which is part-funded by the European Regional Development Fund (ERDF).

During the course of the workshop, it became clear that their ideas did not have sound foundations. As we were discussing the possibilities and the potential pivots, it became clear to the coach that the two startups had complementary skills and abilities that could be employed elsewhere. So, the two students started exploring the possibility of creating automated software services in the legal sector. They attempted to tackle conveyancing as well as will writing. Due to the complexity of the first sector, they ended up focusing on the second.

So, Luke took over the customer development of the new business and Ryan the writing of the software under the auspices of the startup team at Coventry University Services. A few months later they were ready to seek funding in order to grow their budding business. They came back to the University for a second 12-hour programme on How to Become Investment Ready. They learnt how to approach investors, what materials to prepare, what investors want, how to negotiate a deal and many other aspects of the process.

Co-founder and CTO Ryan Nash stated “I have been working with Constantina since my final year computer science dissertation, where she provided an alternative path involving the development of a startup business alongside its software platform aspect. Through weekly sessions where the idea for this startup was cultivated, Constantina taught the foundations of the LEAN startup methodology and how to apply it to my chosen business idea. Her guidance throughout this period as well as since I have graduated and found a business partner has been invaluable to the development of our startup, without her strong background in business and investment we likely would not have reached the stage of development with potential investors where we are now. Despite studying business management as part of my computer science degree I have learned far more from the mentorship of Constantina, particularly in real world applications by navigating the volatile waters of startup creation. Her entrepreneurial expertise and her passion for developing new ideas with people she believes in is a rare find that inspires hope for anyone wanting to stretch themselves and start their own business.”

Once the workshop finished and after they created a good pitch deck, they started contacting potential investors. After several false starts, the team managed to start conversations with accredited investors in the field that can see clearly the potential of the business. With the help of their coach, the startup navigated the treacherous waters of angel investing. Hopefully, very soon they will secure the longed-for funding and employ it towards the exceptional growth of their business.

The co-founder of the Startup and CEO of the company, Luke Windett, said about his experience: “Constantina has honestly changed the trajectory of my life. I was very unsure about what I wanted to do after university and had a lot of energy as well as ambition but didn’t necessarily know where to direct it. What she has taught us and her guidance has definitely given me focus for my ambition and has also made me realise that entrepreneurship is what I want to do for many years as a long-term career. If I did not meet Constantina I probably would not have made this decision or even have been informed to make the decision. The things she has taught us about business and how entrepreneurship is applied in the REAL world, is not taught by many and has honestly changed my perspective on business as well as going out into the world and actually making things happen. Lindsey also has been a massive help with the setting up, organisation and communication side of things, ensuring everything runs correctly and smoothly as well as being really encouraging to us whilst also giving us the right guidance. This has helped everything to move forward quite fast also. The both of them are truly a great team, world-class at what they do and are very patient as well as kind. A very rare combination which makes them both very unique! I could talk about this all day but I would say if you are reading this and thinking about this programme it is 1000% worth it.”

If you would like help with your Start-Up get in touch with us today

You can book their valuable services here www.legalproof.co.uk