SME vouchers: €20 million grant fund to help SMEs maximise their intellectual property assets

As of today, small and medium-sized businesses (SMEs) can apply for financing under a €20 million grant scheme to help EU companies to make better use of intellectual property rights. With the support of the Commission and the European Union Intellectual Property Office (EUIPO), the Ideas Powered for Business SME Fund aims to help firms develop their intellectual property (IP) strategies and protect their IP rights, at national and EU level. Commissioner for Internal market Thierry Breton said: “The coronavirus pandemic has hugely impacted SMEs. We want to help SMEs capitalise on their innovations and creativity to support their recovery.” Open to all enterprises in the EU that fit the official definition of a SME, the new scheme offers financial support in form of reimbursements for IP scan services (IP pre-diagnostic) and trademark and design application, up to a maximum amount of €1,500 per business. Today, the fund opens the first of the five application windows that will run throughout 2021. The new scheme (also called IP Voucher) is the first key action of the Commission’s IP Action Plan published in November 2020. The requirements, timing and other information relevant to the scheme can be found here.