Funding opportunity to help EU SMEs to protect their IP rights

By Ramona Livera and Aylin Zeybek

The SME Fund is a grant scheme designed to help and protect the intellectual property (IP) rights of EU small and medium-sized enterprises (SMEs).

The SME Fund is a European Commission initiative implemented by the European Union Intellectual Property Office (EUIPO) and will run from 23 January 2023 to 8 December 2023.

Funds are limited and will be distributed on a first come, first served basis.

Protecting your intellectual property is essential in the digital era that we live in. It is the only legal way to protect your unique ideas, products or services from being copied or used without your permission. The protection of IP can cover a wide range of assets, including trademarks.

Who can benefit from the SME Fund?

The SME Fund offers financial support to small and medium-sized enterprises established in the European Union. The application can be filed by an owner, an employee or an authorised representative of an EU SME. Grants are always transferred directly to the small and medium-sized enterprises.

How do I know that my company is a valid SME?

In general, EU SMEs are categorised as follows:

In Cyprus, the SME fund is a reimbursement programme that issues vouchers which can be used to partly cover the fees for select activities.

Voucher 1 may be used to cover up to €1,350 of costs linked to IP pre-diagnostic services (IP Scan). Voucher 2 provides up to €1,000 to cover trademark and design eligible fees.

Activities you can apply for:

Based on your business needs, the SME Fund, 2022 edition, covers several activities to help you implement your IP asset strategy. Some of these are as follows:

1. 90% reimbursement of costs for the IP Scan
2. 75% reimbursement of trademark and design fees at EU level
3. 75% reimbursement of trademark and design fees at national and regional level
4. 50% reimbursement of trademark and design fees outside the EU

The process consists of four stages: –

Given that funds available under the Cyprus SME Fund are limited, it is advisable to apply for support as early in the year as is possible. However, when choosing the best protection for your SME’s trademarks or designs it is important to consider your business strategy and growth plans carefully, consulting experienced and specialised professionals.

Ramona Livera and Aylin Zeybek lawyers at Elias Neocleous & Co LLC.