To invent, you need a good imagination and a pile of junk.
Thomas Edison

EU Funding for IP extended to Ukrainian applicants

The EU's SME fund - providing up a 75% reimbursement of official fees for trademark, design and patent applications, is now available to Ukrainian applicants. For 2023, the European Union has designated EUR 25 million to support European Small and Medium Enterprises with their IP rights applications via the Ideas Powered for Business SME Fund. The fund provides a 75% reimbursement on official fees for trademarks and designs (up to EUR 1000), patents (up to EUR 1500), as well as 50% on the official fees for plant variety protection at the EU level up to a maximum of EUR 225. In a further sign of solidarity with Ukraine during the ongoing Russian invasion, the EU has extended the SME fund to Ukrainian businesses as well. The following is required for an EU or Ukrainian business to qualify for this funding:
  1. Be an SME under the EU criteria (fewer than 250 staff and either 50m EUR or less turnover or a balance sheet of 43m EUR or less).
  2. Provide a document demonstrating the company's tax/VAT registration number - generally an extract from the commercial register will suffice.
  3. Provide a bank statement showing the company's IBAN and other bank details.
  4. If using a representative, sign a declaration to appoint the representative.
All documents can be provided in any official EU language, as well as in Ukrainian. It must be noted that funding approval must be secured before filing for any IP rights. The SME fund will not provide any reimbursement for applications that have already been filed. Thus, it is recommended that applicants apply for the EU funding quickly, as there is usually a 2 week waiting period before approval. Dr. Emil Benatov & Partners can assist with securing funding from the SME Fund, filing applications for all IP rights and any other IP-related matters. Contact us for a consultation in Bulgaria and Ukraine.      
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