In the general evaluation of the Ideas Powered for Business SME Fund for 2021 by the Intellectual Property Office of the European Union (EUIPO), only the data of the aid received by Greek small and medium enterprises (SMEs) from its use are presented positively.

The €20 million Ideas Powered for Business Fund, launched in 2021, provides for the provision of intellectual property vouchers (the benefit is offered in the form of reimbursement of costs) to SMEs based in the 27 EU Member States. It aims to help them develop:

• their IP strategies
• to encourage them to protect their rights at national, regional or community level
• to derive financial benefit from their protection

Many of the small and medium enterprises understood that intellectual property can help them translate their ideas into products and that the protection titles of their various inventions can be a powerful tool, not only for survival, but also for competition and growth.

Economic benefit from Ideas Powered for Business

Thus, the financial benefit that Greek small and medium enterprises (SMEs) had in 2021 is reflected as follows:

• A total of 467 Greek SMEs (medium, small, micro) benefited, with a refund of 50% of their basic title filing fees (industrial design and trademark).
• The Fund received preference and financially benefited very small SMEs.
• The order of preference for the titles was ^1st Community Badge, 2nd National Badge, 3rd Community Design and 4th National Design.
• Medium-sized enterprises (10) mainly preferred the Community Label (13 applications). Secondly, the Community Plan (4 applications).
• Small businesses (91) also preferred the Community Label (125 applications) and the National Label (32 applications). Less the Community Scheme (12 applications) and the National Scheme (5 applications).
• Very small businesses (366) primarily preferred the Community Label (372 applications) and the National Label (177 applications). Secondly the Community Scheme (52 applications) and the National Scheme (38 applications).

For the Industrial Property Organization, which during 2021 managed only Industrial Plans (within the Program), 43 national and 68 community applications have been submitted and joined the Fund.

2022

For the current year (2022), the Fund has improved the terms of participation. The most important improvement is increasing the refund rate of basic fees from 50% to 75%. The financial support during 2021 covered only Design and Model and Trademark applications. Most will also include Patent fees with a 50% refund. A fact that is expected to motivate SMEs for greater utilization of the provision of the Fund.

This initiative is carried out in cooperation with the national and regional EU Intellectual Property offices, at national, regional and Community level through the EU Intellectual Property Office (EUIPO). In Greece, it is implemented by the Industrial Property Organization (OBI) and the General Secretariat of Trade of the Ministry of Development and Investments.

More information at: https://euipo.europa.eu/ohimportal/el/online-services/sme-fund.