As part of the Fund for Small and Medium-sized Enterprises (SMEs), on 22 January 2024, the European Union Intellectual Property Office (EUIPO) together with the European Commission launched this year’s edition of the SME ideas powered by buisness fund, which offers intellectual property vouchers to small and medium-sized enterprises based in the European Union.
The SME Fund 2024 follows on from the huge success of the 2023 edition of the fund, which received over 35,000 applications.
Who can benefit?
The SME Fund offers financial support to small and medium-sized enterprises based in the European Union. These are companies employing up to 250 people and whose total turnover does not exceed EUR 50 000 000 or whose balance sheet total does not exceed EUR 43 000 000.
Who is eligible to submit an application?
A request may be submitted by a business owner, employee or authorised external representative acting on their behalf.
Until when can an application be submitted?
The program is based on a first-come, first-served basis. Applications for a grant can be submitted from January 22, 2024 to December 6, 2024.
How do I receive grants?
The grants are awarded in the form of vouchers that the beneficiary can use to claim reimbursement. The reimbursement is always paid directly into the SME’s bank account. The SME Fund offers 4 different vouchers that can be used to claim reimbursement for different IP-related activities. These include trademark, design, patent and plant variety applications and IP Scan services . Depending on the country or region, you can save up to 75% on IP Right applications and 90% on IP Scan.
If the application is approved, the Applicant will receive the subsidy and vouchers (within 15 working days). They must then be activated by submitting a request for reimbursement within 2 months (extensions are possible – for another two months). In order to receive a refund for the ordered IP services, the request for reimbursement must be submitted after paying for the services in the so-called implementation period, during which the applicant can apply for further activities and apply for reimbursement of additional costs within the scope covered by the voucher(s). This period is:
– 6 months in the case of vouchers for covering fees for trademarks and designs
– 12 months in the case of vouchers for patents and community plant varieties
If you are interested in receiving funding and the procedure is still unclear to you or you are not sure where to start with the application, we will be happy to help you through the entire procedure.
We offer our experience!
BSKPP Team
Sources
