EC Launches Fund to Help Small, Medium-sized Businesses

The European Commission (EC)  and the European Union (EU) Intellectual Property Office have launched the new EU Small and Medium-sized  Enterprises Fund (SMEs), which offers vouchers to small and medium businesses in the European Union to help them protect intellectual property rights.

The newly established aims at helping companies COVID-19 recovery and green and digital transformations for the next three years (2022-2024).

Executive Vice President Margrethe Vestager, who is responsible for competition policy, said: “If SMEs want to grow or take the lead in new technologies, they must protect their inventions and creativity, as big companies do, and new ideas and experiences are our main added value in the European Union.

"Through this fund, we want to support small and medium businesses to weather these strange times and stay strong and innovative over the coming decades," she said.

Commissioner for Internal Market, Terry Britton, said: "Small and medium-sized businesses have been particularly affected by the COVID-19 crisis.

But what does not change is that those varied volume companies remain the backbone of the European economy and ecosystems.

This fund will support SMEs in valuing their innovations and creativity, which is critical for SMEs to recapitalize and drive green and digital transformations.