Funding for UK SMEs: IP Advance Scheme

IP Audit – provides part-funding of £2,250 (including VAT) towards the cost of an IP audit. Your business must contribute £750 (including VAT) towards the overall cost of the audit. The IP audit needs to be carried out by a UK-based IP professional (e.g. a Chartered UK Patent or Trade Mark Attorney).

IP Access – provides businesses with up to 50% of the cost of IP professional advice or services (e.g. preparation of design, patent and trademark applications) to progress an IP management strategy or implement recommendations from their IP audit, up to a total funding contribution of £2,250 (including VAT).

To be eligible, a business should be:

• a UK Small or Medium-Size Enterprise (SME) – i.e. have fewer than 250 employees
• engaged with one of the IPO recognised partners – i.e. Innovate UK Business Growth, Scottish Enterprise, Highlands and Island Enterprise, South of Scotland Enterprise, and Invest Northern Ireland or the Welsh Government

An IP audit is a method of identifying existing intellectual property (IP) assets held in your business, as well as potential IP assets, and compiling an overall IP inventory.

An IP audit can help you to:

• Uncover unused or under-utilised assets
• Determine ownership of these assets
• Identify potentially patentable technology, potentially registrable trade marks and designs, in addition to trade secrets and copyright
• Identify any related threats.

With this inventory, you can then make informed decisions on how to develop and implement an IP strategy, which will help drive your business forward.

An Innovation Manager from one of the recognised partners (i.e. Innovate UK Business Growth, Scottish Enterprise, Highlands and Island Enterprise, South of Scotland Enterprise, and Invest Northern Ireland or the Welsh Government) will discuss your situation and advise whether your company meets the relevant criteria (see above) and would be suitable to apply for IP Advance funding.

If you are advised to proceed, you will then need to complete an application form – Dehns are able to advise and support you through this process. Once completed, this form will be sent via your selected partner to the UK IPO on your behalf. Applications must be submitted to the UK IPO through a Business Advisor from the relevant recognised partner.

You will then need to appoint a firm of UK IP professionals, such as Dehns, who will arrange a meeting to discuss your IP needs.

If you feel that IP Advance funding would be of benefit to your business to help achieve its commercial objectives, let us know and we can provide initial advice and then put you in contact with one of the UKIPO’s recognised partners (e.g. Innovate UK).

If you are approved for the scheme, we can then undertake the IP Audit or other IP services on your behalf.
For an IP audit, we will work with you to understand your business, its technology, its R&D activities and identify the existing and potential IP held within your business. The firm will then provide your company with a bespoke report detailing their findings and recommendations.

The work carried out under the IP Access scheme will be tailored to your particular IP strategy needs, and any recommendations made in an IP Audit, if relevant.

If you think your business could benefit from IP strategy advice (whether or not you are eligible for funding through the IP Advance scheme), please do get in touch with one of our key contacts below.