UK SME Intellectual Property Funding Scheme

In the UK, there are many projects to help SMEs innovate, from obtaining intellectual property rights to protecting intellectual property rights or monetizing intellectual property rights, which can provide considerable bonus assistance. The main types of funding include:

• The UK Intellectual Property Office's intellectual property funding program includes intellectual property searches, or providing professional intellectual property advice to SMEs, or developing intellectual property management strategies for SMEs, as well as providing advice on how SMEs can implement intellectual property.
• Invest NI's Technical Development Incentive encourages SMEs to engage in innovative activities such as product development, process improvement and the identification and protection of intellectual property. Northern Ireland SMEs can receive funding of up to £15,000.
• Invest Northern Ireland projects are defined as projects that have not previously undergone any R&D. Northern Ireland businesses under the project can receive up to £25,000 to fund investigation and planning, produce and test prototypes, experiment and refine designs or deal with intellectual property costs.
• The European Commission's EIC Accelerator Grant provides financial assistance to UK start-ups and small and medium-sized enterprises with the ability to scale up. Technology companies can receive up to £15 million in funding to carry out innovative activities.
• UK companies undertaking scientific and technological innovation projects may be eligible to apply for R&D tax credits to receive tax relief on their R&D projects.
• The Patent Box provides a 10% reduction in the corporation tax rate for companies that exploit patented inventions in the UK. The reduced 10% rate applies to profits from: sales of patented products; licensing or sales of patent rights; infringement and compensation payments; and is available to businesses across the UK. The Patent Box also applies to human and veterinary medicines, plant breeding and plant varieties.

Currently, UK SMEs can take advantage of a number of business support measures which can be combined with professional IP advice to maximise the commercial value of your business’s intangible assets.