Does the UK provide support for SMEs to assist them with their IP strategy?

The UK Intellectual Property Office (UKIPO) has launched a pilot of its new financial support scheme, IP Advance, aimed at helping small to medium-sized enterprises (SMEs) to access support and advice, and leverage their intellectual property.

Previously, the IP Audit scheme was popular with SMEs as it helped them to establish their position with regard to their IP. IP Advance takes this further and assists with implementing the strategy and obtaining more professional assistance.

The IP Advance Scheme

IP Advance is a tiered funding programme and builds upon the existing financial support provided by the IPO, with two levels of support available:

1. IP Audit provides part-funding for the cost of a qualified IP professional to conduct an IP audit. The IPO will provide £2,250 (including VAT) towards the cost, with a further £750 (including VAT) to be contributed by the business.
2. IP Access contributes up to £2,250 (including VAT) to SMEs to instruct an IP professional for advice on IP strategy or to implement recommendations from an IP audit, where the SME has to pay at least 50% of the cost of the advice and/or the implementation – availing the SME of at least £4,500 (including VAT) of further support for half of that price.

How to apply

SMEs can apply for both levels of funding either together or separately, and the funding options are not mutually exclusive; receiving the IP Audit funding is not a prerequisite to receiving IP Access funding.

Applications for the IP Advance scheme can be made to one of following business support partners; Innovate UK Business Growth, Welsh Government, Scottish Enterprise, Highlands and Islands Enterprise, South of Scotland Enterprise and Invest Northern Ireland.

Those SMEs who are identified as benefitting from specialist support in the management of IP-related matters and engaged in a business support programme with one the above organisations are eligible to apply.

The outcome of both of these funding opportunities is specific and targeted advice to help businesses to better understand their IP and develop an IP strategy, as well as how to leverage their intellectual property to support growth.

What is an IP Audit?

An IP audit enables a business to obtain a clear picture around their IP position and can be especially useful for elucidating where they should focus their often limited resources to build their IP portfolio.

It involves meeting with an IP professional to discuss the aims of the audit and the present IP position. The outcome is a document which is submitted to the relevant government partner, e.g. Welsh Government or Scottish Enterprise, and then used as the basis of a follow-up from the government with the IP professional who prepared the audit.

What is IP Access?

IP Access provides funding to implement an IP management strategy or recommendations from the IP audit (although the IP audit is not compulsory). This may assist with preparing a patent application or help with a freedom-to-operate search – or could enable the IP professional to take more of a deep dive into your plans and provide more detailed recommendations and strategic advice.

Next Steps

If you are interested in these schemes, then please get in touch so we can answer your questions as to how it may assist with your business.

For more information on the scheme, see the CIPA website.