SME fund "Ideas Powered for Business"
The SME fund "Ideas Powered for Business" was set up on the initiative of the European Commission. The SME Fund provides financial support to small and medium-sized enterprises (SMEs) based in the European Union (EU) for the protection of their intellectual property rights.
Each applicant has the opportunity to receive up to EUR 7,350 from this fund for the financing of designs, trademarks, patents and plant variety protection. In 2024, a total of EUR 21.3 million will be available for these purposes
The fund was established on 22 January 2024 and will run until 13 December 2024 or until the planned funding is exhausted.
What is funded?
The fund is a reimbursement programme. Financial assistance is awarded in the form of vouchers that can be used for a variety of activities in the field of intellectual property:
- Trademark and design applications (max. EUR 1,000)
- Patent applications (max. EUR 3,500)
- IP pre-diagnostic service (IP scan) (max. EUR 1,350)
- Application for Community plant variety rights (max. EUR 1,500)
Who is eligible for funding?
All SMEs based in the EU can apply for funding.
In general, all companies with less than 250 employees and a turnover of up to €50 million per year are considered SMEs.
Self-employed persons are also entitled to apply to the SME Fund.
Where to apply?
The application for funding can be submitted online on the website of the European Union Intellectual Property Office (EUIPO).
Only a few documents are required for the application:
- a VAT certificate
- a bank statement
- a signed 'declaration on honour' if the application is submitted by an external representative
Concluding remarks
The EU funding programme is an easily accessible way to help you or your company protect intellectual property.
As funds are limited (in 2023, the fund was already exhausted in November), we recommend that you apply early.
Of course, if you need any assistance, we are always available to help.