SME Fund Opportunities 2024 – A Guide for SMEs

By Gilbert Ross

At Keen, we are dedicated to providing valuable resources and insights to our clients, and today, we’re excited to share information about the SME Fund 2024 launched by the Malta Chamber. This initiative, spearheaded by the European Commission and executed by the European Union Intellectual Property Office (EUIPO), aims to provide financial assistance to SMEs within the European Union, specifically to support the procurement of intellectual property rights.

Here are the key aspects of the SME Fund 2024:

Financial Assistance: The Fund offers reimbursement of up to 75% of the fees associated with trademarks, designs, and patents at both EU and national levels. Reimbursement caps are set at €1,000 for trademarks and designs, and €1,500 for patents, per beneficiary.

Enhanced Support for 2024: This year, the eligibility criteria have been expanded to cover a portion of the representation costs incurred during the preparation and filing of European patent applications.

Application Window: The submission period runs from 22 January 2024 until 6 December 2024. Allocations are made on a first-come, first-served basis, so early application is encouraged.

Evaluation Process: Submissions undergo weekly evaluations, with outcomes communicated within 10 working days from each evaluation cut-off.

Application Procedure: The Fund is accessible to owners, employees, or authorized representatives of EU SMEs. Interested parties can apply directly via the SME Fund portal.

Successful Applicants: Those awarded will receive a voucher, facilitating the registration of intellectual property through the appropriate channels (Malta IP registration, EU IP registration, European patent application), before seeking reimbursement from the EUIPO.

For further details and to apply, please visit the SME Fund’s webpage.

At Keen, we believe in empowering businesses to thrive, and initiatives like the SME Fund 2024 present valuable opportunities for growth and innovation. Contact us today to learn more about how we can support your business in leveraging this funding scheme and unlocking new possibilities for success.