intelligent

The European Union Intellectual Property Office ( EUIPO ) has launched a new fund that offers vouchers for EU-based SMEs to help protect their intellectual property ( IP ) rights , with IP playing a key role in SME growth . Erik Oskarsson , Principal at Rouse Consultancy , spoke to us about the fund , IP and how it all impacts SMEs .

Can you provide some wider context as to the recovery that many [ European ] SMEs are currently going through following the COVID-19 pandemic ?

Nearly all businesses , from start-ups to multinationals , have experienced tough times over the last two years . Yet , for SMEs , the challenges brought by the pandemic were exacerbated .

If we look at supply chains , for example , SMEs don ’ t typically have multiple chains in place . In practice , this has meant that interruptions because of the current supply crunch have overall had a more direct and critical impact on the business operations of SMEs that rely on hardware than on their larger competitors .

Securing funding , which is vital to business growth , is another regular challenge for SMEs .

However , the post-pandemic rise in interest rates that we are seeing will make the situation even more difficult over the coming months , as adequate funding becomes relatively harder for them to obtain .

All of this has left many SMEs in a more precarious position than larger businesses and made the need for a swift recovery even more important .

When it comes to IP rights , what challenges have SMEs encountered historically ?

IP is a rich man ’ s game . Thanks to their ability to move faster and choose more unconventional paths , SMEs are typically more innovative than larger companies , but they hit a cost barrier when it comes to IP . A registered patent can cost around € 10,000 for every market you enter , and many SMEs

SMES ARE TYPICALLY MORE INNOVATIVE THAN LARGER COMPANIES , BUT THEY HIT A COST BARRIER WHEN IT COMES TO IP .