European SMEs to benefit from €47m IP fund
The European Commission and the EU Intellectual Property Office (EUIPO) have unveiled a €47 million ($53 million) grant scheme to help small and medium-sized entities (SMEs) cover the costs of protecting IP during the COVID-19 recovery period.
The fund will cover several costs associated with obtaining IP across the EU from 2022-2024. These include reimbursing 90% of fees for ‘IP scan’ services (initial comprehensive and strategic IP advice) charged by member states and 75% of overall fees charged by the EUIPO and the Benelux Intellectual Property Office for trademark and design registration.
It will also cover 50% of fees charged by the World Intellectual Property Office for trademark and design protection and 50% of fees charged by national patent offices for the registration of patents.
The executive director of the EUIPO, Christian Archambeau, said: “SMEs represent 99% of all businesses in the EU, create prosperity and opportunities within local communities and are a source of innovation and creativity.
“The COVID-19 pandemic has hit SMEs significantly and has shown, more than ever, that we must support them towards recovery. Through this new and expanded phase of the SME Fund, available to all small businesses in Europe, we are committed to helping them secure and reap the benefits of their intellectual property assets.
Further costs could be covered from 2023 onwards, including the partial reimbursement of costs related to prior art searches, patent filing according to the announcement made January 10, 2022.
Executive vice-president of the European Commission Margrethe Vestager said: “Small is beautiful, but if SMEs want to grow or take the lead in new technologies, they need to protect their inventions and creations, as big companies do.
“New ideas and expertise are the main added value we have in the EU. With this fund, we want to support SMEs to face those peculiar times and remain strong and innovative through the decades to come.”
This marks the first time the new EU SME Fund is pledging to cover patent costs, with the commission setting aside approximately €2 million to patent-related services.
The SME Fund will be managed through calls for proposals, the first of which can be accessed now. Application for grants will be open throughout the period 2022-2024 and will be evaluated on a “first in, first out” basis.
Commissioner for Internal Market, Thierry Breton, said: “It goes without saying that SMEs have been particularly impacted by the COVID-19 crisis. But what does not change is that they remain the backbone of our economy, of our ecosystems. This Fund will support SMEs to valorise their innovations and creativity. And this is crucial for SMEs to recapitalise and drive the green and digital transitions.”
This is the second round of funding aimed at supporting SMEs during the COVID-19 recovery period.
The first SME Fund was launched in 2021 and offered reimbursements for IP scan and national trademark and design registration costs.
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