EU Grants to Small and Medium Sized Enterprises for Registering Trademarks
The EU is for 2021 offering financial incentives for small and medium-sized enterprises to register and, consequently, to protect their trademarks and industrial designs, through the program “Ideas Powered for Business SME Fund”. In total, the program will provide €20 million euros to small and medium-sized enterprises based in the EU to help them access and benefit from their intellectual property rights. Of course, small-medium enterprises in Cyprus are also entitled to benefit from the program.
Interested businesses, if eligible under the official EU definition of small and medium-sized enterprises, can submit their applications for the grant electronically to the EU Intellectual Property Office (EUIPO) and, if approved, apply for registration of their trademarks and industrial designs, they will then be reimbursed 50% of the basic fee they paid for the registration application. In Cyprus the refunds will be given by EUIPO for applications that will be registered at the Intellectual Property Division of the Registrar of Companies, Ministry of Energy, Commerce and Industry, which is one of the national and regional intellectual property offices of the EU. In our country the basic fee for applying for trademark registration is €141 euro and for an industrial design €136,69 euro. The maximum refund fee per enterprise is €1,500 euro.
The time periods during which the project is open are:
- 11 January 2021 – 31 January 2021
- 1st March 2021 – 31 March 2021
- 1st May 2021 – 31 May 2021
- 1st July 2021 – 31 July 2021
- 1st September 2021 – 30 September 2021
In accordance to the program regulations, applications submitted outside the five specified time periods will not be considered. A chronological order of priority will be observed for the funding.
You can find out more about the required conditions, the schedule and other information related to the program through the platform “Ideas Powered for Business”, online at the link https://euipo.europa.eu/ohimportal/online-services/sme-fund. At the same link you may also be informed about how to submit the applications.
The Ministry of Energy, Commerce and Industry encourages companies to protect their intellectual property by strengthening their trademark and industrial design, to make their businesses more widely known and recognizable in the market. Intellectual property is becoming increasingly important in today’s knowledge economy, as it is a key driving force for innovation and economic growth.
For more information you may contact us on email@example.com to speak with a trademark lawyer who can guide you on the procedure of applying for the grant and for registering a trademark.