The legal tech sector in Leeds contributes £374m to the region’s local economy, according to a new report.
The legal sector in Leeds has grown by 19% since 2020, while the local tech sector has skyrocketed 110% to £15bn, according to the report by Whitecap Consulting.
The report also found that the legal and tech sectors were responsible for 20% of Leeds’s £83bn gross value added (GVA) per year.
“We are proud to have one of the world’s largest legal services markets here in the UK,” said Mike Freer, parliamentary under-secretary of state for the Ministry of Justice.
“Our ambition is to ensure our legal services sector continues to be world-leading and an important part of that is ensuring that the UK is a global hub for legal tech. This includes a vital role for legal and tech centres across the UK including in Leeds.”
The report identified 14 firms specialising in legal tech in Leeds, with a much larger general tech industry providing services to the region’s legal sector.
One of the city’s most prominent legal tech startups is Just: Access, which has developed an AI-powered transcription tool for law firms.
The report estimates that 11% of all law firms are based in the the Leeds City Region.
“The launch of this report showcases the speed of digital transformation and also the progress made to date alongside all our partners through our ‘Team Leeds’s approach. There are clear objectives and plenty for us to build on in the year ahead,” said Tom Riordan, chief executive of Leeds City Council.
“Legal tech in Leeds is one of our big success stories – together we are leading the way with a blueprint of how successful collaboration across sectors can work to create opportunities, jobs and industries of the future for the benefit of everyone in Leeds and wider region and the Council is looking forward to continuing to support the network as it grows”.
In addition to legal tech, Leeds has strong fintech credentials. A separate report from Whitecap Consulting, published in February, found that the number of fintech startups and scaleups in the Leeds City Region has increased by 263% since 2020.
Read more: Why Leeds is a hotbed for tech scaleups