THE IDEAS POWERED FOR BUSINESS SME FUND
The Ideas Powered for Business SME Fund is a grant scheme designed to assist EU-based small and medium-sized enterprises (SMEs) in protecting their intellectual property (IP) rights.
The new fund is due to launch on 3 February 2025 and will offer up to a maximum of €7050 per SME in vouchers for use in protecting IP. The fund has been running since 2023 and is only growing in popularity, as SMEs recognise how straight forward it is to obtain the funding and how much value resides in the resulting IP rights. Funds are limited and awarded on a first-come, first-served basis, so we strongly recommend applying for the funding as close to the opening of the scheme as possible, to avoid missing out.
AVAILABLE GRANTS
The SME Fund offers financial support in the form of vouchers that can be used to claim reimbursement for IP application costs. The grants include:
- IP Scan: This voucher can be used for IP pre-diagnostic services valued up to €1350, depending on the EU country.
- Trade marks and Designs: A voucher worth €700 for registering trade marks and/or designs at national, regional, EU, or international levels.
- Patents: A voucher worth €3500 for registering national patents at an EU Member State’s national IP office and/or European patents filed at the EPO.
- Plant Varieties: A voucher worth €1500 for registering plant varieties within the EU.
ELIGIBILITY CRITERIA
All SMEs established in the EU are eligible to apply for the funding. According to the EUIPO, an SME is defined as an entity with fewer than 250 employees, an annual turnover of less than €50 million, and/or an annual balance sheet total of less than €43 million.
APPLICATION PROCESS
The process begins with selecting the appropriate voucher(s) and filing the application form online through the EUIPO portal (available here). Any eligible SME can apply for any or all of the vouchers simultaneously.
After the grant application is approved, you may proceed with your selected IP activities in accordance with the specific voucher that was sought. Only fees for activities which occur after the grant of the voucher can be reimbursed.
The voucher must be used within the designated ‘activation period’ from the date it is approved, which is 6 months for voucher 1 and 1 month (extendable to 2 months) for vouchers 2-4. For vouchers 2-4, if any balance remains on the voucher after it is used within the activation period, the SME shall have an additional 6-month implementation period, to clear the balance, as desired. This further implementation period does not apply to voucher 1.
Reimbursement payments will be made directly to the SME's bank account, once the approved voucher is activated.
NECESSARY DOCUMENTS
To apply, you will need:
- VAT Certificate (or equivalent): Issued by the competent national authority, or a national registration number certificate for self-employed individuals.
- Bank Statement: Containing the company name (account holder), full IBAN number with country code, and BIC/SWIFT code.
- Declaration of Honour: Required if using an external representative to obtain the funding. This must be signed by an authorized owner or employee of the SME.
FAQs
The EUIPO has provided a list of Frequently Asked Questions, as may be viewed here, or Potter Clarkson can be reached for assistance by way of your usual representative or euiposmefund@potterclarkson.com.
