Ideas Powered for business, new aid fund

• Ideas Powered for business is a European grant program to protect your industrial or intellectual property rights from SMEs and self-employed
• This fund of up to 20 million euros will be allocated on a first-come, first-served basis.
• Application submission deadline until December 6, 2024

What does it consist of

The European Union Intellectual Property Office (EUIPO) has launched an ambitious subsidy program called Ideas Powered for business, in collaboration with the European Commission and the different national intellectual property offices in the European Union. This program aims to provide a fund of up to 20 million euros for SMEs and the self-employed throughout 2024.

The purpose of the fund is to support companies in the protection of their industrial or intellectual property rights, offering financial support for the safeguarding of assets such as brands, designs, patents and plant varieties.

Why is protecting intellectual property essential?

In the digital age, the protection of industrial or intellectual property has become crucial. This legal action prevents unauthorized copying or use of unique ideas, products or services.

Through the fund, companies can obtain the necessary support to secure their property rights.

Amounts

During 2024, 20 million euros will be allocated, divided into four types of bonds depending on the activity to be subsidized:

• Bonus 1: Reimbursement of 90%, up to 1,350 euros, for activities related to the IP Scan service (the amount varies depending on the country).
• Bonus 2: Reimbursement of up to 75%, up to 1,000 euros, for activities related to brands, designs and models.
• Bonus 3: Reimbursement of up to 75%, up to 3,500 euros, for activities related to patents.
• Bonus 4: Reimbursement of up to 75%, up to 1,500 euros, for activities related to the community protection of plant varieties.

The IP Office will credit the amount due to the beneficiary's bank account within thirty calendar days of receipt of a valid payment request. It is important to clarify that the payment period will begin upon receipt of the payment request.

Application process and required documentation

This fund is open to applications from SMEs established in the European Union. The request can be submitted by the owner, an employee or an authorized external representative on behalf of the company. Additionally, it is crucial to note that funds are limited and will be allocated on a first-come, first-served basis.

Before submitting the application, the following must be prepared: documents in pdf format:

1. Identification certificate for VAT purposes or national registration number certificate issued by the competent national authority.
2. Company bank statement including company name, full IBAN number with country code and BIC/SWIFT code.
3. In the case of self-employed workers, the certificate of registration in the special regime for self-employed or self-employed workers (RETA).
4. Affidavit, in case of using the services of an external representative.

The deadline for submitting calls ends on December 6, 2024.

The evaluation of applications will begin on Fridays of the week following their submission. Said evaluation and notification of results is limited to up to 10 business days.

Steps to benefit from the fund

You must follow the following steps:

Apply for the grant

• Registration of the SME fund account and completion of the application form.
• Verify that all the necessary documents are present before starting the process.

Obtaining the subsidy and bonuses:

• Once the application is approved, the subsidy and bonuses will be received within fifteen business days.

Request and pay for PI services:

• Request reimbursement of intellectual property services after paying for them, using the form available in the SME fund account.

Getting a refund:

• Fill out and submit the refund form to activate the bonus and begin the execution period.
• The EUIPO will make the payment within a period of one month.

Application period:

• During the validity period of the voucher, which varies depending on the type of voucher, more activities and additional refunds may be requested.

Notably bonuses are not retroactive, so expenses incurred before the date of notification of the grant decision will not be reimbursed from them.