IP funding launched for European SMEs
13 February 2023
The European Commission and the European Union Intellectual Property Office have announced a €60.1 million fund to support EU-based small and medium-sized enterprises (SMEs) in protecting their intellectual property rights.
The “Ideas Powered for business SME Fund” is a grant scheme which will run from 23 January 2023 to 8 December 2023. The fund will reimburse up to €1,000 of costs associated with filing trade mark and registered design applications, as well as up to €1,350 of the cost of the IP Scan service. The IP Scan puts companies directly in contact with an IP expert designated from a national IP office who will work with the company to review their business model, products/services and growth plans. SMEs can use the service to figure out what intangible assets to protect and in what way their IP can help support business growth.
Additionally, from mid-February, the SME Fund will also reimburse 75% of the fees charged by national patent offices and the European Patent Office for the registration of patents; and 50% of the application fees charged by the Community Plant Variety Office for the registration of new plant varieties. From the second half of 2023, costs of initial enforcement-related advice could be also covered.
If you have any questions or think this could help your business, please get in touch with your usual W&R attorney or complete our complete our enquiry form.
