This week marks the launch of the highly anticipated 2024 SME Fund by the European Union Intellectual Property Office (EUIPO) and the European Commission. Building on the tremendous success of the 2023 edition, which saw a staggering 35,000 applications, this year’s SME Fund continues to be a game-changer for small and medium-sized enterprises (SMEs) across the European Union.
The SME Fund, has been an example of support for SMEs since its inception in 2021. It offers intellectual property vouchers that provide partial reimbursement on IP fees.
Considering that SMEs constitute 99% of businesses in the EU and contribute three-quarters of employment, safeguarding their intangible assets is crucial for attracting investment and scaling up.
Opportunity Knocks for EU SMEs! 🚪
This year’s fund extends its support to an even broader range of services, including legal costs for drafting and filing European patent applications.
EU-based SMEs can now avail themselves of up to 50% reimbursement (or EUR 2,000 if using a professional representative from the EPO official list). Moreover, the support for IP Scan Enforcement in participating offices further adds to the comprehensive assistance provided.
Funding Details for 2024 💰
The estimated budget for 2024 stands at a substantial EUR 18.85 million for vouchers one and two (covering IP scan and trademark or design protection) and EUR 1.15 million for vouchers three and four (addressing patents and plant varieties).
Get Ready to Seize the Opportunity! 🏃♂️
Don’t miss out on this golden chance to fortify your business’s intellectual property. The SME Fund is not just an investment in protection but a strategic move to foster growth and innovation.
Key Dates to Remember 📆
Applications for the SME Fund 2024 are now open. Act fast to secure your place and propel your SME to new heights. The 2024 SME Fund is not just a financial boost; it’s a strategic move to empower EU SMEs. Act now, protect your intellectual property, and set the stage for unprecedented growth. The future belongs to those who seize the opportunities today! 🚀💡
FAQs About the SME Fund 🌐
Q: Who can apply for the SME Fund? A: EU-based small and medium-sized enterprises (SMEs) are eligible to apply.
Q: What services are covered by the fund? A: The fund covers a range of services, including trademark registration fees, legal costs for patent applications, IP scan enforcement, and more.
Q: Is there a maximum reimbursement limit? A: Yes, the fund offers up to a 75% reimbursement, with specific limits for different services.
Q: Can SMEs apply for multiple vouchers under the SME Fund 2024? A: Yes, eligible SMEs can apply for multiple vouchers, depending on their specific needs. The fund caters to a range of services, allowing SMEs to choose the support that best aligns with their intellectual property requirements.
Q: How can you do it? A: Contact me and I will take care of that 😉
If you’re considering this, get in touch with us. Let’s talk about it.
Lawyer | Corporate, Contract management, IP & Innovation Lead @ NOVA Legal