A construction of 2-filtered bicolimits of categories
  We define the notion of 2-filtered 2-category and give an explicit construction of the bicolimit of a category valued 2-functor. A category considered as a trivial 2-category is 2-filtered if and only if it is a filtered category, and our construction yields a category equivalent to the category resulting from the usual construction of filtered colimits of categories. Weaker axioms suffice for this construction, and we call the corresponding notion pre 2-filtered 2-category. The full set of axioms is necessary to prove that 2-filtered bicolimits have the properties corresponding to the essential properties of filtered bicolimits. Kennison already considered filterness conditions on a 2-category under the name of bifiltered 2-category. It is easy to check that a bifiltered 2-category is 2-filtered, so our results apply to bifiltered 2-categories. Actually Kennison's notion is equivalent to ours, but the other direction of this equivalence is not entirely trivial. 
Eduardo J. Dubuc and Ross Street