The Ideas Powered for Business SME Fund 2023 in a sentence.
The Ideas Powered for Business SME Fund 2023 is a €27.1 million grant scheme implemented by the European Commission and the EU Intellectual Property Office (EUIPO) designed to encourage European small and medium sized enterprises (SME) to protect their Intellectual Property (IP) rights and develop an IP Strategy.

Benefits to your business.
The SME Fund 2023 run from 23 January to 8 December 2023 as a reimbursement programme on a first come, first served basis, divided into 4 vouchers:

• Voucher 1: IP Scan
• Voucher 2: Trade Marks & Designs
• Voucher 3: Patents
• Voucher 4: Community Plant Varieties

The Ideas Powered for Business SME Fund 2023 in numbers.
According to a recent post by the EUIPO, almost 35,000 EU and Ukrainian SMEs requested reimbursements for their applications in trade marks, patents, designs, and plant variety rights – first-time applicant businesses accounted for a notable 78% of those requests under the SME Fund 2023.

The most popular IP service requested were Trade Marks & Designs (33,023 applications), followed by the IP Scan service (2,250 applications), Patents (2,130 applications), and Plant Varieties (190 applications).

Micro-sized SMEs accounted for 78.8% of the applications, while small- and medium-sized SMEs accounted for 16.4% and 4.8% of the applications, respectively.

SME Fund 2024.
Contact us to stay tuned for further information regarding the forthcoming release of the Ideas Powered for Business SME Fund 2024, which is expected to be released in Q1 2024.

Tell me more: SME Fund 2023

Our SME Fund Practice Portfolio at ServPRO.
At ServPRO, we have already taken advantage of the SME Fund in all its editions, from its launch in 2021, to its upgraded version in 2022, and to this year’s 2023 version. We have successfully applied and received reimbursement for all applications made within the EUIPO’s given vouchers to-date.

Get in touch with us if you’re interested in registering your intellectual property rights or know someone who might be via email (info@servpro.com.cy) or by telephone (+35722021100).

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