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SME Fund 2023

Ideas Powered for Business SME Fund 2023

The European Commission and the EU Intellectual Property Office (EUIPO) have announced the implementation of the Ideas Powered for Business SME Fund 2023, a €27.1 million grant scheme designed to encourage European small and medium sized enterprises (SME) to protect their Intellectual Property (IP) rights and develop an IP Strategy.

“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

Voucher 4: Community Plant Varieties

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

  • 90% reimbursement for IP pre-diagnostic services (IP Scan)

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 and varies depending on the EU Member State concerned.

The designated budget for Voucher 1 (IP Scan) and Voucher 2 (Trade Marks & Designs) is set at €25million.

The total budget available under the SME Fund 2023 has been increased to €27.1 million.

 

What does the procedure entail?

  • The IP Strategy is driven by arranged interviews with an IP expert designated by the national IP office concerned (e.g., Cyprus IPO) and an examination of your business model, products or services and growth plans.
  • Next, the IP expert will provide you with a full report on your IP strategy and propose a set of best practices and recommendations on how to manage, protect, and develop your IP rights in the future.

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:

  • Review its business model with an IP expert.
  • Explore its IP assets, their registration and management.
  • Understand how to protect your IP and how to handle cases of IP rights infringement.
  • Evaluate ways of preventing conflicts with IP rights of competitors or potential partners.
  • Design an IP Strategy to take your business forward. After an IP Scan you should be in a position to know what IP rights to register, where to register, and how to exploit them through processes like licensing, partnerships, and internationalisation.
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.

  • 75% reimbursement of trade mark and design fees at EU level

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.

  • 75% reimbursement of trade mark and design fees at national and regional level

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.

  • 50% reimbursement of trade mark and design fees outside the EU

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.

The total budget available under the SME Fund 2023 has been increased to €27.1 million.

VOUCHER 3 – PATENTS

SME Fund 2023

Voucher 3 covering Patents encompasses the following reimbursement initiatives for the benefit of your business:

  • 75% reimbursement for Patent prior art searches

Your SME may claim 75% reimbursement of the fees for a Prior Art Search Report. The Prior Art Search Report is performed worldwide and must be conducted by a national IP office of an EU Member State, in advance of the patent application.

  • 75% reimbursement for Patent pre-grant, grant and publication fees

Your SME may claim 75% reimbursement for Patent pre-grant (filing, search, and examination), grant and publication fees for national patent protection in an EU Member State.

  • 75% reimbursement for European Patent applications

If your intention is to have a European Patent, your SME may claim 75% reimbursement for filing and search fees charged by the European Patent Office (EPO) for European Patent applications.

The total eligible reimbursement amount for Voucher 3 (Patents) is capped at €1,500.

The designated budget for Voucher 3 (Patents) and Voucher 4 (Community Plant Varieties) is set at €2.1million.

The total budget available under the SME Fund 2023 has been increased to €27.1 million.

VOUCHER 4 – COMMUNITY PLANT VARIETIES

SME Fund 2023

Voucher 4 covering Community Plant Varieties applications provides for:

  • 50% reimbursement for online applications for Community Plant Varieties at EU level

50% reimbursement of the online application fee for a Community Plant Variety on an EU level, through the Community Plant Variety Office (CPVO).

The total eligible reimbursement amount for Voucher 4 (Community Plant Varieties) is capped at €225.

The designated budget for Voucher 3 (Patents) and Voucher 4 (Community Plant Varieties) is set at €2.1million.

The total budget available under the SME Fund 2023 has been increased to €27.1 million.

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:

  • 93% of SME experience a positive impact on their business by registering IP rights
  • SME which own IP rights observe a 68% higher revenue per employee than those that do not
  • 36% of SME achieve financial gain through their registered IP rights
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.

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T: +357 22 021100
F: +357 22 757566
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3rd Floor, 1102 Nicosia, Cyprus
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