ASEAN LegalTech Officially Introduced in Indonesia, an Association for Legal Tech Startups
There are 88 legaltech throughout Southeast Asia, 21 are Indonesian-based startups
ASEAN LegalTech officially introduced in Indonesia. It is the first association in Southeast Asia to connect legaltech ecosystem or legal-based digital startups in the region.
Justika's CEO, Melvin Sumapung is one of the ASEAN LegalTech representatives for Indonesia. He explained the purpose of introducing this association to the public as the voice of communities, further the ecosystem and the bridge for Southeast Asia's stakeholders.
"This advocacy emphasized more on promotion to various kinds of stakeholders. For legaltech happened not only from startup or law firm but the combination of various parties. Therefore, on the side of the founding board, there are law firms, legaltech startups, and others," he told DailySocial
ASEAN LegalTech was founded by 6 people from different countries. Those are Eric Chin from Alpha Creates, Hanim Hamzah from ZICO Law, Cherilyn Tan from Interstellar Group, Thomas Thoppil from Hewlett Packard Enterprise, Michael Law from Rajah & Tann Technologies, and Andrew Stoutley from Tilleke & Gibbins.
The association has representatives in almost all Southeast Asia;s countries. Along with Melvin, there is also Hukumonline's CTO, Arkka Dhiratara who is also appointed as ASEAN LegalTech representative for Indonesia.
LegalTech potential in Southeast Asia
Legaltech market in Southeast Asia still leaves great space to develop further. ASEAN LegalTech research has found 88 registered legaltech in Southeast Asia. Dominated by Singapore and Indonesia for 25 and 21 startups.
It is bigger than the number mentioned on Codex Techindex on legaltech startup worldwide. It is said in the index, only 16 startup listed in Southeast Asia.
However, the market share available in the region consists of 645 million population, 3,825 registered company on the exchange and 650 million SMEs. While the lawyer population in Southeast Asia just reached 248 thousand.
"ASEAN LegalTech aims to connect Indonesia, Singapore, Malaysia, Vietnam with other countries, and it's not only 16 but 88 players unnoticed by the whole universe while they exist," Sumapung added.
He also said to target 21 legaltech in Indonesia joined the association. Other institutions, such as law firms and regulators might be a member of this network.
–Original article is in Indonesian, translated by Kristin Siagian