The “Ideas Powered for Business” SME fund is a grant scheme that has been approved in order to assist small and medium-sized enterprises based in the European Union (including Cyprus), to benefit from their intellectual property rights.

Further to the success that the programme had in 2021, it has been renewed for applications within 2022 as well.

The new scheme, which is applicable to all EU companies that meet the official description of SMEs, offers financial support in the form of reimbursement of costs for applications of trademarks, designs and patents of up to €2,500 in order the intellectual property of a company to be protected.

In line with the above, interested companies, if eligible under the official EU definition of small and medium-sized enterprises, can submit their applications electronically to the EU Intellectual Property Office (EUIPO) and, if approved, a refund of 50% of the application fee will be given.

The effective date where applications are open start from 10th of January 2022.

For further information and assistance, feel free to get in touch with Xenia Kasapi, Head of the Intellectual Property & Data Protection Department.