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8월 21. 2024

UK IPO launches new SME financial support scheme

We are pleased to share a development that could be of interest to our SME partners looking to understand, protect and commercialise their intellectual property (IP):

The UK Intellectual Property Office (IPO) recently launched a new SME financial support scheme, IP Advance. The scheme aims to help high-growth small and medium size SMEs to access professional expertise to leverage their IP assets.

There are two levels of support, and businesses can apply for either or both:

  • IP Audit provides part-funding of £2,250 (including VAT) towards the cost of an IP audit, conducted by a suitably qualified IP professional. The business must contribute £750 (including VAT) towards the overall cost of the audit. The business will receive a bespoke IP Audit report with recommendations, cost projections and a suggested timeline for implementation. As part of an IP Audit, the business will also have a follow-up meeting to discuss the report’s recommendations with the IP professional.
  • IP Access provides a contribution of up to £2,250 (including VAT) for IP professional advice to progress an IP management strategy or implement recommendations from their IP audit. The business must contribute a minimum of 50% towards the cost of the services carried out by their IP professional under IP Access to qualify for support.

The IP Advance scheme is being delivered exclusively through the UK IPO’s regional partners: Innovate UK Business Growth, Welsh Government, Scottish Enterprise, Highlands and Islands Enterprise, South of Scotland Enterprise, and Invest Northern Ireland. For more information about the scheme contact the relevant partner for your region.

At PDR, we welcome the launch of this scheme by the IPO and the opportunity it provides SME’s, many of whom we work with.

If you are interested in working with us on your next project, get in touch or if you’d like to understand how we use our expertise in design and research to drive success and innovation for businesses, watch this short video: How can PDR support businesses?