In 2024, the European Union Intellectual Property Office (‘EUIPO’) has continued its proactive support for small and medium-sized enterprises (‘SMEs’) across the European Union with the latest iteration of the ‘Ideas Powered for Business’ SME Fund.
This European Commission (‘EC’) backed initiative, which began in 2021, is specifically designed to enhance the intellectual property (‘IP’) capabilities of EU-based SMEs, offering financial aid to secure their IP rights.
What is the EUIPO SME Fund?
The EUIPO SME Fund 2024 grants targeted financial support to EU-based SMEs to assist them in registering trade marks, patents*, and designs, as well as engaging in IP Scan pre-diagnostic services. These services are essential in enabling SMEs to identify and strategise their IP assets with the guidance of expert professionals. The fund aims to cover significant portions of the associated costs, providing reimbursements that include:
• 90% for IP Scan services provided by national IP offices within EU member states.
• Up to 75% on fees for registering trademarks and designs, both nationally and across the EU.
• Subsidies for basic fees associated with international trademark and design registrations.
• Partial reimbursements for patent searches and application processes.
Are you an SME?
According to the EC, ‘small and medium-sized enterprises (SMEs) represent 99% of all businesses in the EU’ , therefore identifying whether you meet definition of an SME ‘is important for access to finance and EU support programmes targeted specifically at these enterprises.’
SMEs are defined in the EU recommendation 2003/361 and there are criteria for determining whether an enterprise qualifies as an SME
You can find out more information regarding SMEs here.
How Can SMEs Benefit?
To access the previously mentioned benefits, SMEs must apply within the operational window from 22 January to 6 December 2024. Successful applicants will receive vouchers that facilitate reimbursement of incurred costs, which must be activated within two months after receipt. It is important to note that the fund operates on a ‘first come first served’ basis, in other words, once the funds for the Scheme are exhausted, the initiative will end for the year 2024.
Why Engage Now?
In an increasingly competitive business landscape, protecting your IP rights is more important than ever. The financial support offered by the EUIPO SME Fund lowers the barriers to comprehensive IP protection, allowing businesses to invest in innovation with reduced financial burden while simultaneously securing their creative and innovative outputs.
How Can We Assist You?
Navigating the intricacies of IP law and the application process for the EUIPO SME Fund can be daunting. Our IP team has successfully guided various SMEs through the application process, enabling them to benefit from the financial incentives offered by the SME Fund while ensuring that their IP assets are fully protected.
If you are interested in learning more about how the EUIPO SME Fund can benefit your business or need assistance with your application, please contact our IP team to discuss your requirements.
For more information on the EUIPO’s SME Fund for the year 2024 please visit the following link.
*Please note that as of the time of writing, the EUIPO advises that vouchers for patents are temporarily unavailable for new applications as funds have been exhausted as result of the high number of requests received.
