EURO 20 million grant fund aims to benefit enterprise

The 18th of December saw the launch of a EUR 20 million grant fund (Ideas Powered for Business SME Fund) aimed at helping small and medium-sized enterprises based in the European Union to access and benefit from their intellectual property (IP) rights.

European small and medium-sized enterprises (EU SMEs) are vital for the European economy, providing 67 % of total employment and making up 99% of all business in the EU.

Even though only 9% of all EU SMEs own IP rights, those that have registered their IP have almost a third more revenue per employee than SMEs that do not, according to research carried out by the EUIPO.

EURO scheme to offer financial support in the form of reimbursements

Open to all enterprises in the EU that fit the official definition of an SME, the new scheme offers financial support in the form of reimbursements for trademark and design application, up to a maximum amount of EUR 1 500 per business. It opens for applications on 11 January 2021 in the first of five application windows that will run throughout 2021.

The new scheme is run through the Ideas Powered for Business programme at the EUIPO, and forms part of the European Commission’s IP Action Plan. It is carried out in cooperation with the national and regional intellectual property offices of the EU.

The Executive Director of the EUIPO, Christian Archambeau, said: The impact of the COVID-19 pandemic has hit SMEs hard, and the EU is committed to supporting them towards recovery.

Much of our future economic growth and prosperity depends on the success of innovative and dynamic SMEs, including startups.

Helping them to secure their intellectual property rights is an important part of the EUIPO’s mission, and that of its partners, especially the national and regional intellectual property offices of the EU, which are close to SMEs in their own Member States.

As part of the post-COVID-19 recovery action plan for EU SMEs, this action – the Ideas Powered for Business SME Fund – encompasses reimbursements for trademark and design applications at a national level, at the regional level (in the Benelux) and at the EU level, through the EUIPO.

The requirements, timing, and other relevant information can be consulted ahead of the 11 January opening of the scheme through the Ideas Powered for Business hub.

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