SME FUND 2024 starts on 22.01.2024

FOR IMMEDIATE RELEASE,  04.01.2024 – Tallinn, Estonia

SME Fund 2024 starts on 22.01.2024

1000€ Voucher for 🇪🇺 EU for Trademark Registration Fees

Coming your way on January 22, 2024, SME Fund 2024 is a cool initiative from the European Intellectual Property Office (EUIPO). They’re here to help small and medium-sized businesses (SMEs) with funds and resources so you can rock the business scene, boost the economy, and reach your goals. Go, SMEs! 🚀

Period for SME Fund Applications:  22.01.2024 – 06.12.2024

The Main Benefit of SME Fund Program

Benefit Details
Fee Reduction for Trademark Registration Reduce fee by 75% for Trademark Registration, e.g., Basic Fee in EU Trademark (850 EUR) becomes 212 EUR after deduction. 🚩 🇪🇺

 

Benefits of Trademark Registration
Source: EUIPO, Intelectual Property Office – Alicante

Comparision: SME Fund in 2022 vs 2023

Metrics 2022 2023 Change
Total Applications 22,479 34,800 +12,321 (+54.9%)
IP Scan Requests 505 581 +76 (+15%)
Stakeholder Satisfaction Rate (%) 93.5 95 +1.5 (+1.6%)
SMEs Financially Supported 15,929 21,150 +5,221 (+32.8%)
The Comparision of SME Fund Program in 2022 vs 2023

SME Fund 2023 in Numbers

 

Model of grant decision

Contact Information

 

PAWEL KROK – Board Member – contact@eesticonsulting.ee

EESTI CONSULTING OÜ is a member of the Estonian Chamber of Commerce & Industry 🏦 and e-Residency 🌐 Marketplace.

 

 

 

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e-Residency program

Success of e-Residence – EUR 17.5 million of tax revenues in 2020

Increase in tax revenues by 1/3

The amount of Estonian tax revenues from the e-Residency system increased by 1/3 compared to 2020 according to estimates of the state agency Enterprise Estonia, which is a record since 2014. Companies founded by natural persons from all over the world who are registered e-residents paid EUR 17.5 million to the budget of the State of Estonia.

Lauri Haav, managing director of the e-Residency program, says the results are delivering more ambitious goals, as well as the fact that existing e-resident companies continue to grow and expand, and e-residents continue to create thousands of new businesses each year. many of which show many international promises.

1/5 of the new businesses were founded by e-Residents, Haav said.

Lauri Haav, who became head of e-Residency last December, said: “In the last three years, almost 20 percent of all private limited companies registered in Estonia were founded by e-residents.”

“In addition, the program has significantly contributed to the expansion and diversification of the Estonian economy,” Haav said, according to a press release from Enterprise Estonia.

E-residents are customers originating in the US, Finland, Sweden, Russia and Ukraine, topping the table, which, as Enterprise Estonia points out, covers a relatively large range of countries in terms of development and wealth.

Andres Sutt – IT and entrepreneurship minister said: “The e-Residency programme has spurred innovative rethinking of traditional business models and provides a flexible platform for a new generation of entrepreneurs”

Most e-Residency companies are small, agile, said Lauri Haav, especially in high-value-added sectors such as IT. The program has attracted enthusiasts of new technologies, security, as well as the Estonian business community, which is already known for its transparency and minimal bureaucracy, says Enterprise Estonia.

E-residence and lockdown

The e-Residency program was launched in December 2014. The purpose of the program is to provide stakeholders with secure access to Estonia’s e-services, as well as enabling digital signature, payment of taxes, establishment and registration of companies.

The e-Residency card is a digital ID card and is no different than that of Estonian citizens. At the moment, the application base is 80,000 e-residents, which gives a total of 16,000 established companies. The coronavirus pandemic made the e-Residence program a perfect fit. In a situation of local restrictions – many Europeans have problems with performing activities at the notary’s or visiting offices. E-residents say goodbye to this problem, because they handle all official matters remotely, including even granting a power of attorney in the e-Notary Service – adds Paweł Krok Eesti Consulting OÜ

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