UK Intellectual Property Office to launch new financial support scheme for SMEs
New Scheme
The UK Intellectual Property Office (UKIPO) will be launching a new, tiered financial support pilot scheme for small to medium enterprises (SMEs).
This scheme follows the IP Audit scheme which provides funding towards an audit report and the IP Access which was launched in 2021 following the pandemic to help SMEs implement audit recommendations.
The new pilot scheme is still being developed but will aim to provide SMEs with the option to apply for:
- A discussion with an IP professional on a particular IP issue, for instances when a full IP audit is not appropriate.
- A full IP audit (part-funded by the IPO) for SMEs who have been assessed at the stage to benefit from an in-depth review.
- Funding towards advice from an IP professional to implement an IP strategy, such as managing an IP portfolio or commercialisation.
Many SMEs have valuable IP but can be put off by the costs associated with implementing an IP strategy. Having a solid IP strategy can enable SMEs to further grow their companies through commercialisation or raising further investment. It is hoped that with this access to professional IP support, SMEs can implement and exploit their valuable IP in a way that is affordable and sustainable.
The UKIPO is working with delivery partners to identify eligible SMEs and provide them with the option(s) that will provide the businesses with the greatest benefits.
As part of the review, collaborative meetings were held with CIPA and CITMA members, along with delivery partners and SMEs to provide insight from all perspectives. Support for the funding schemes was received with wider benefits also being recognised.
The pilot scheme is set to launch in Summer 2024.
How can Maucher Jenkins help?
Here at Maucher Jenkins we can provide IP audits and implement audit recommendations within a wide range of fields.
If you would like further information about the scheme or applying for the scheme, please get in touch here.
We will keep you posted with further developments.
Sources
Financial support for SMEs - appetite for pro bono work - UKIPO
