The European Commission and the EU Intellectual Property Office (EUIPO) have announced the implementation of the Ideas Powered for Business SME Fund 2023, a €25million+ grant scheme designed to encourage European small and medium sized enterprises (SME) to protect their Intellectual Property (IP) rights and develop an IP Strategy.
SME Fund 2023
Ideas Powered for Business SME Fund 2023
“High-value IP can be used to establish new sources of income such as from licensing, sales, or co-branding agreements. When it comes to obtaining financing, registered IP is considered indicative of a company being strong and healthy.”
~ EUIPO, The Importance of Registered IP
The SME Fund 2023 was launched on 23 January 2023 as a reimbursement programme divided into 4 vouchers, the latter two of which will be announced at a later stage:
Voucher 1: IP Scan
Voucher 2: Trade Marks & Designs
Voucher 3: Patents (coming soon)
Voucher 4: Community Plant Varieties (coming soon)
The SME Fund 2023 will run until 8 December 2023, unless the set budget is exhausted before that date, in which case the application windows for each of Vouchers 1-4 will close earlier, accordingly.
Since funds are limited and available on a first come, first served basis, it is highly recommended that you contact us as soon as practicable to commence the process on your behalf.
ELIGIBLE SME
SME Fund 2023
The SME Fund is open to all enterprises that are established within the EU and fall within the definition of a “SME” as defined in the EU Recommendation 2003/361. The table below illustrates the categories of SME in the EU:
| Enterprise category | Staff headcount | Annual turnover | Annual balance sheet total |
|---|---|---|---|
| Medium-sized | <250 | ≤ € 50 m | ≤ € 43 m |
| Small | <50 | ≤ € 10 m | ≤ € 10 m |
| Micro | <10 | ≤ € 2 m | ≤ € 2 m |
VOUCHER 1 – IP SCAN
SME Fund 2023
What is it?
The IP Scan voucher entails the determination of your business’ most appropriate IP Strategy.
What does an IP Scan cover?
The IP Scan covers all IP rights including trade marks, designs, patents, utility models, plant varieties and geographical indications, as well as those that are unregistered or unregistrable, e.g., copyrights, trade secrets, unregistered designs, company and domain names.
Once completed, the IP Scan should reveal your business model and company strategy, existing IP and IP-relevant assets, IP searches, IP management and strategy techniques, summarised with strategic recommendations.
The total eligible reimbursement amount for Voucher 1 (IP Scan) is capped at €1,350.
What does the procedure entail?
The IP Scan is not a legal service; it is the path towards the design of an IP Strategy taking into account your business’ needs and future goals.
What benefits does my business get from an IP Scan?
IP Scan offers your businesses the opportunity to:
VOUCHER 2 – TRADE MARKS & DESIGNS
SME Fund 2023
There are several reimbursement options for trade marks and designs, depending on your business’ intended territorial coverage envisioned through its branding, marketing, strategy and business development plans.
If you aim for EU-wide protection, your business can apply for a 75% reimbursement of trade mark and/or design application fees, additional class fees, and examination, registration, publication and deferment of publication fees at EU level.
The registration of European Union Trade Marks (EUTM) and Registered Community Designs (RCD) is done through the EUIPO.
If you aim for a more local protection, your business can apply for a 75% reimbursement of trade mark and/or design application fees, additional class fees, and examination, registration, publication and deferment of publication fees at national and regional level.
The registration of national or regional trade marks is done directly through a national IP office or the Benelux Office for Intellectual Property.
The Benelux Office for IP covers protection at regional level covering Belgium, the Netherlands and Luxembourg.
If you aim for a more international protection, your business can apply for a 50% reimbursement of trade mark and/or design basic application fees, designation fees, and subsequent designation fees at an international level.
Note that designation fees for EU countries are excluded, as are handling fees charged by the office of origin.
The registration of trade marks and design on an international level is done through the World Intellectual Property Organization (WIPO).
The total eligible reimbursement amount for Voucher 2 (Trade Marks & Designs) is capped at €1,000.
The designated budget for Voucher 1 (IP Scan) and Voucher 2 (Trade Marks & Designs) is set at €25million.
VOUCHER 3 – PATENTS (COMING SOON)
SME Fund 2023
Voucher 3 covering Patent searches and registration is expected to be released within 2023. This IP activity is estimated to have a total budget of €2million and it is expected to cover:
The total reimbursement amount for Voucher 3 (Patents) is expected to be capped at €1,500.
Interested applicants should regularly check the EUIPO website or contact us for updates on this voucher.
VOUCHER 4 – COMMUNITY PLANT VARIETIES (COMING SOON)
SME Fund 2023
Voucher 4 covering Community Plant Varieties applications is expected to be released within 2023. This IP activity is estimated to have a total budget of €100,000 and it is expected to cover:
The total reimbursement amount for Voucher 4 (Community Plant Varieties) is expected to be capped at €225.
Interested applicants should regularly check the EUIPO website or contact us for updates on this voucher.
A UNIQUE OPPORTUNITY
SME Fund 2023
The SME Fund is a unique opportunity for SME to grow their business by protecting their IP rights, enhance their branding strategy and build on their reputation. In fact, statistics by the EUIPO show that:
Interested in a 23% discount?
For eligible SMEs, we offer a notable 23% discount on our IP trade mark services and, in particular, for national (Cyprus), EU (EUIPO) and world trade mark applications (WIPO). Email us with your details to commence the process. Please note that due diligence checks apply for all clients, as per EU legislation.
OUR IP PRACTICE PORTFOLIO
At ServPRO, we have already taken advantage of the SME Fund in all its editions, from its launch in 2021, to its upgraded version in 2022, and to its expanded 2023 version. We have successfully applied and received reimbursement for applications made within the EUIPO’s given vouchers to-date.
Get in touch with us for a consultation or an enquiry relating to the protection of your trademark(s) and other rights pertaining to intellectual property. Our clientele benefits from our in-depth knowledge and experience in handling the entire IP Rights registration process on their behalf.
Moreover, for our clients seeking cross-border trademark registration, we cooperate with our handpicked regional and international partners in order to safeguard their IP rights in their selected jurisdictions.
Our clientele further benefits from tax aspects relating to the protection of their IP Rights, including the sought after Cyprus IP Box Regime; a tax-beneficial regime relating to R&D and taxation in Cyprus.
LET’S WORK
TOGETHER.
T: +357 22 021100
F: +357 22 757566
F: +357 22 757566
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