UK IPO Launches New SME Financial Support Scheme, IP Advance

IP Advance is a tiered funding programme designed to provide the right support to SMEs at the right stage in their innovation journey. It provides targeted advice and support to help businesses better understand their IP, develop an IP strategy, and where appropriate, support to implement that strategy.

There are two levels of support available, and applications can be submitted at any time. Businesses can apply for one or both levels of funding.

For many years, the IPO has provided targeted financial support to innovating, high-growth potential small and medium-sized enterprise (SMEs), helping them access professional expertise. Their IP Audit scheme provided funding towards an audit report, and their IP Access scheme was then introduced in 2021 as a post-Covid support measure to help SMEs implement audit recommendations.

Through 2023/24, within the IPO’s commitment to reviewing our office-wide approach to supporting innovative SMEs leverage their IP assets, they undertook a review of their financial support measures to ensure they were sustainable, provided value for money and delivered impact.

Now, UK IPO are pleased to share their new financial support scheme, IP Advance, which launched as a pilot on 15 July 2024.

IP Advance is a tiered funding programme designed to provide the right support to SMEs at the right stage in their innovation journey. It provides targeted advice and support to help businesses better understand their IP, develop an IP strategy, and where appropriate, support to implement that strategy.

The two levels of support available are:

1. IP Audit provides part-funding of £2,250 (including VAT) towards the cost of an IP audit, conducted by a suitably qualified IP professional. The business must contribute £750 (including VAT) towards the overall cost of the audit. The business will receive a bespoke IP Audit report with recommendations, cost projections and a suggested timeline for implementation. As part of IP Audit, the business will also have a follow-up meeting to discuss the report’s recommendations with the IP professional.
2. IP Access provides a contribution of up to £2,250 (including VAT) for IP professional advice to progress an IP management strategy or implement recommendations from their IP audit. The Business must contribute a minimum of 50% towards the cost of the services carried out by their IP professional under IP Access to qualify for support.

Businesses can apply for one or both levels of funding; receiving IP Audit funding is not a prerequisite to receiving IP Access funding.

As in previous years, IP Advance will be delivered exclusively through our UK partners: Innovate UK Business Growth, Welsh Government, Scottish Enterprise, Highlands and Islands Enterprise, South of Scotland Enterprise, and Invest Northern Ireland.

Noting the initiative is delivered through their regional business growth partners, the UK IPO will not be publishing any public facing, external communications or updating GOV.UK.  This is specifically to avoid direct enquiries to the IPO and any misunderstanding of IP Advance being a standalone package.

SMEs identified as benefitting from specialist support in the management of IP-related matters and engaged in a business support programme with one of our partners, are eligible to apply for the scheme. Applications are submitted to the IPO via a Business Advisor from the relevant regional partner. All IP Advance applications are subject to an assessment and funding is not guaranteed.

UP IPO have worked with these regional partners, and the Chartered Institute of Patent Attorneys (CIPA) and the Chartered Institute of Trade Mark Attorneys (CITMA) to develop IP Advance, including ensuring that the guidance we provide to SMEs and to legal professionals carrying out the work funded by IP Advance is clear.