The next.legal sandbox is a regulatory sandbox announced at the annual Bytelex next.legal innovation summit. The sandbox draws inspiration from 2020 year’s theme ‘an integrated ecosystem built on radical ideas’. Defined by their geographical barriers, high growth firms (‘tech startups’) in Africa are in pursuit of unlocking value from new markets. Startups are increasingly looking for gems in ecosystems across Africa and the world, to identify talent, financing, exits and regulatory certainty or flexibility to unlock value. In just 6 month’s of its announcement, the sandbox has mobilized partner resources across the world including B&C international, Orrick, Herrington & Sutcliffe LLP and Yale Startup Africa Review.
Using these resources, the sandbox aims to:
- Propose flexible regulatory protocols that promote innovation and structuring.
- Assist startups in preparing to scale and access new markets.
- Offer financing and exit instruments tailored for startups and investors.
- Offer multi-disciplinary partnerships and resources for startups and investors.
Mission of the sandbox:
The emerging African ecosystem is home to several successful high growth companies. These companies must withstand conditions of extreme uncertainty. Companies and investors usually find themselves in an unusual situation of innovating for each unique challenge in Africa’s emerging ecosystem. The sandbox is intended to facilitate these innovations and create a set of predictable and acceptable protocols (‘sandbox protocols’) that promote scaling, financing and exiting a tech company in Africa.
Participants in the sandbox can expect to:
- Pilot emerging structuring models that promote scaling, financing and exits.
- Participate in rolling evaluations of sandbox protocols.
- Iterate and help to modify and improve sandbox protocols.
You are a good fit for the sandbox if:
- You are a high growth emerging company or tech startup interested in scaling, and open to novel financing approaches or looking for an innovative exit.
- You are an investor looking to invest in or exit high growth companies in Africa.
- Access to innovative practice toolkits for financing and exit tech startups.
- Meet and collaborate with sandbox participants and others in the startup community.
- Town hall sessions from ecosystem enablers and builders.
- Technical sessions from mentors and partners.
- One on one office hours (up to 5 hours per company).
- Access to partnerships and relationships to help scale, finance and exit your business to the US, Kenya, Rwanda, South Africa and Uganda.
Interested applicants must submit their application online before the 30th of April 2021 through the application portal at this link: https://bytelexhq.com/nextlegal-sandbox
Candidates will be interviewed and decisions to participate will be made on a rolling basis.