January 27, 2021
Torys is proud to announce its partnership with the world’s largest pre-seed accelerator, Founder Institute, to help progress the Canadian startup tech ecosystem. The partnership will make Torys the largest new incorporation law firm for emerging and high growth technology companies in the country.
Founder Institute is also the largest pre-seed accelerator in Canada, launching more than 100 new incorporated tech startups across the country each year. The accelerator conducted a legal sponsorship bid process in late 2020 where Torys was selected as the successful law firm.
Founder Institute worked with its alumni graduate Sponsor Circle to complete the national search for a firm with a Canadian office. Requirements were a partner who understood the needs of tech startups and shared a vision of building a vibrant startup community across Canada.
“We worked with Founder Institute to identify the top 30 law firms with offices in Canada. Using our platform we had firms submit their proposals for what they could do to help build the Canadian tech ecosystem," Sponsor Circle founder Mary Beth Kyer said.
"Without question, Torys proved they understood the startup landscape better than any other firm.”
Law firms were requested to submit proposals on why they were best-suited to represent the needs of tech startups. Startup priorities included understanding intellectual property (IP) requirements for both hardware and software startups, the coordination of large fundraising rounds, and the need to help startups quickly scale globally.
Many law firms pretend they understand the unique needs of emerging and high growth technology companies, but few can actually prove they do," Founder Institute Waterloo-Toronto Director Jordan Jocius said.
"It was really important for us to identify an international full-service law firm that shared the vision of seeing Canada as among the best places in the world to launch a startup. By investing in the grassroots Canadian tech ecosystem, I predict that Torys will become the best law firm in the country in this space in a decade.”
As Founder Institute’s Canadian legal partner, Torys has launched a new incorporation portal specifically for Founder Institute startups with special resources available and a seamless incorporation process.
For full-service legal support, from incorporation and building an IP strategy, right through to raising financing rounds and beyond, Torys LLP is positioned to help tech startups," Torys Counsel Ryan Unruch said.
"We are excited to be the exclusive legal partner for Founder Institute from Western Canada to the Innovation Corridor, Toronto, and beyond.”
Based in Silicon Valley and with chapters across 200+ cities worldwide, Founder Institute provides high-potential entrepreneurs and teams with the devoted support network and structured growth process needed to get to traction and funding. Participants in the four-month core program also get access to a lifetime of support through the Founder Institute's industry-leading post-programs.
Torys is proud to partner with Founder Institute in Canada to help build the future. For more information on the work we do to support startups, and the VC’s, lenders and strategic investors who finance them, reach out to our Emerging Companies and VC practice.