Development of a regional Intellectual Property strategy that will support the development of policy interventions to raise IP capability in the area and ensure
Companies increasingly derive more of their value in knowledge assets than physical. There is evidence to show that businesses that manage their intellectual property well grow faster and are more resilient, having a better chance of survival and growth.
IP gives businesses opportunity and confidence in export - according to Inngot active IP management makes SMEs 10% more likely to report overseas turnover IP-intensive industries account for approximately 90% of the EU’s trade with the rest of the world.
As powers are devolved to new Combined Authorities across England, there are opportunities to work with local policy makers to develop a business support environment with increased intellectual property (IP) capability. The UK Intellectual Property Office is partnering with the Greater Birmingham and Solihull Local Enterprise Partnership to develop policy interventions that will raise IP capability in the area and ensure support for SMEs to understand their IP assets and derive value from them, thereby growing their business and contributing to the local economy.
The IP strategy that has been developed recommends an IP Forum to bring together IP capabilities in universities, the public and private sector. It also proposes projects through ERDF to extend an IP Audits programme for SMEs, provide subsidies for protection and pilot lending against IP through the Midlands Engine Investment Fund. Further to this, business advisors in the Growth Hub will be trained in an IP Maste
Incorporated into the GBSLEP Growth Hub one stop shop activities
Evidence of success
Improved engagement and support around IP leading to more businesses to be better able to make informed decisions regarding their IP assets, ensuring they derive value from them, grow their business and contribute to the West Midlands and the UK economy.
Potential for learning or transfer
Enables increased IP capability through partnership working to make the most of scarce resources. This has been achieved through a public private partnership so strategy is private sector influenced. Partners include UK Intellectual Property Office (executive Agency of Department for Business, Energy and Industrial Strategy – BEIS); Greater Birmingham & Solihull Local Enterprise Partnership, universities and Library of Birmingham, SMEs and patent attorneys.laims
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