PHILADELPHIA, Jan. 26, 2016 /PRNewswire/ -- Saul Ewing LLP, a full service law firm with more than 270 lawyers in 11 East Coast offices, today introduced RAMP (Resources, Access and Mentoring Program), a new firmwide initiative aimed at providing emerging companies the support and practical direction they need to move their businesses forward.
RAMPTM takes a multi-pronged, holistic approach to addressing the legal and business needs of startup companies. "Young companies need more than what a lawyer can provide them for an hourly fee," says Debbie Spranger, Chair of the firm's Business and Finance Department. "In some cases, they don't know what they don't know. They need someone who has 'been there, done that' to help walk them through it – particularly when it comes to fund-raising."
Investor in Residence
Understanding that financing is top of mind for most young companies, Saul Ewing will be offering the services of an Investor in Residence (IIR). The firm has engaged Revital Hirsch, an Associate at local venture firm SCP Vitalife, to conduct a 3-6 month pilot of the IIR program, during which her services will be provided free of charge to a few select companies. Ms. Hirsch has substantial experience in evaluating business plans and investor presentations, reviewing and negotiating term sheets, and modeling the impact of various financing alternatives on capital structure and exit proceed distributions.
Through the firm, she will also have access to databases containing comprehensive information about local and national financing sources and what they are investing in that can be leveraged to provide warm introductions to interested parties. Companies participating in the pilot are:
Human Motion Technologies, LLC (Pittsburgh): HuMoTech is a recent spin-out of Carnegie Mellon University that builds high-performance robotic lower-limb prostheses and exoskeletons for research and development. HuMoTech is developing clinical applications of its core technology, including an evaluation tool to assist clinicians in the prescription of prosthetic limbs.
LytPhage, Inc. (Philadelphia): A biotech company developing novel antimicrobial products that harness genetically-modified bacterial viruses (bacteriophage/phage) for the treatment of antibiotic resistant bacterial infections.
Vedu (Baltimore): Vedu is a web-based video technology solution company focused on the higher education market, which enables students applying to colleges to submit a video essay as part of their college application. A personal video provides a genuine and personalized presentation of who the student is and what they are looking for in a college, leading to greater fit for the student and school. Vedu provides a turn-key solution to colleges, which standardizes their video workflow, simplifying and creating greater efficiencies in managing the video application process.
Saul Ewing attorneys will begin holding office hours at the firm's new office at One Drexel Plaza (within the Drexel Innovation Neighborhood) and will continue existing office hours at Carnegie Mellon University's Project Olympus and various incubators in the Baltimore/DC areas. During office hours, existing and prospective clients will have the opportunity to discuss their corporate, intellectual property, labor and employment, real estate, litigation and other legal needs with practitioners in those areas. "Going to the companies rather than having them come to us gives us a better opportunity to see and understand their businesses. It also allows us to strengthen our already strong bonds with the host institutions," Spranger says.
Monthly Roundtables; Networking Opportunities
The firm will expand its Start-Up Roundtable Series, currently conducted in Baltimore and DC, to Philadelphia, Pittsburgh and, eventually, Boston. These interactive programs, structured around topics of interest to young and growing companies, give entrepreneurs the opportunity to network and learn from each other as well as from the speakers. RAMP will also offer regular opportunities throughout the year for companies to network in informal social gatherings.
RAMP will offer a variety of discounted, deferred and/or fixed fee arrangements designed to fit each participant's needs.
Participants may be referred into RAMP by existing clients or friends of the firm, and will be evaluated based on factors such as strength of business plan, experience of management team, and interest in working collaboratively.
ABOUT SAUL EWING LLP
Saul Ewing LLP is a full service law firm serving businesses throughout the United States and internationally, including recognizable names in corporate America, exciting start-ups and an array of closely held and privately held companies, as well as nonprofits, governmental and educational entities. The firm has focused on growing its Life Sciences and Technology, Private Equity and Venture Capital practices in recent years, adding more than 20 lawyers and patent agents to these groups since 2013.
SOURCE Saul Ewing LLP