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How can SMEs benefit from the trademark and industrial design grant scheme
The second application window for the "Ideas Powered for Business SME Fund" scheme for a 50% reimbursement of the application basic fee for Trade Marks and Industrial Designs has started on 1st March 2021.
The fund offers financial incentives to SMEs to register and protect their Trademarks and Industrial Designs. During 2021, the fund provides to small and medium-sized enterprises based in the EU a 20 million Euro grant scheme assisting them to access their intellectual property rights and benefit from their use.
The second application window will last until 31/03/2021. During this time period, Cypriot SMEs can apply for a 50% reimbursement of the application basic fee for Trade Marks and Designs through European Union Intellectual Property Office’s «Ideas Powered for Business» platform at the following link: https://euipo.europa.eu/ohimportal/online-services/sme-fund. Interested parties can also be inform at this link about the eligibility conditions, the timetables and other information regarding the scheme.
Three more application windows will follow with the last one being in September.
The Ministry of Energy, Commerce and Industry encourages enterprises to protect their intellectual property, maximizing thus the strength of their trademark and industrial design and getting them more widely known and recognizable in the market. The importance of intellectual property in the economy of knowledge today is becoming more and more important as it is a key driver for innovation and economic growth.
It is worth mentioning that the first application window for the scheme ended successfully, as 37 Cypriot enterprises filed applications for reimbursement of trade mark and/or design basic application fees. Specifically, during the first phase of the scheme that ended on 3/01/2021, EUIPO has received a total number of 37 reimbursement applications on trade mark and/or design basic application fees from Cypriot SMEs. Other 79 reimbursement applications were received from SMEs operating in Cyprus.
Cyprus is therefore ranked 13th among 27 participating countries’ applications from native SMEs and 8th among 28 National Offices’ applications from SMEs operating in Cyprus.
The first window’s statistics for the «Ideas Powered for Business SME Fund» grant scheme can be accessed HERE.
Interested enterprises can reach for additional information with the relevant Officer of the Ministry of Energy, Commerce and Industry Pandelis Pandeli at 22404357 and through email ppandeli@drcor.meci.gov.cy.
2/3/2021
