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EUROCROWD Participates in Second Annual Ideas Powered for Business Network Event by EUIPO

by EUROCROWD on 11.10.2023

Brussels, September 21 – EUROCROWD, a member of the Ideas Powered for Business Network, played a significant role in the network's second annual event, hosted by the European Union Intellectual Property Office (EUIPO) in Alicante.

The second annual meeting of the Ideas Powered for Business network, established by EUIPO, once again underscored the critical relationship between intellectual property and access to finance for startups and SMEs. With the commitment of twenty-one participating organizations, the meeting also served as a platform to advance the work initiated within the IP and Finance working group.

In her State of the Union address, President Von der Leyen emphasized the paramount importance of improving conditions that support European business competitiveness in the current political and economic climate. Enhanced IP protection and improved access to finance are pivotal elements to support both emerging and established companies. EUROCROWD has been a staunch advocate for increased awareness, capacity building, and support services within the crowdfunding industry to benefit all stakeholders involved.

The event addressed various topics, from the imperative need to establish closer ties between companies and IP experts to the challenges posed by emerging technologies such as AI and the metaverse on intellectual property. A key theme throughout the event was the necessity of attributing a more defined role to protected intangible assets in the overall evaluation of any company. This would provide better guidance in determining potential financial benefits that can be offered to companies protecting their IP in the short term. Simultaneously, improving coordination across the financial ecosystem and among various capital providers, including crowdfunding platforms, business angels, venture capitalists, and banks, is essential to streamline IP valuation and facilitate the transition of companies between different stages of development and funding.

These challenges, along with potential barriers, form the core focus of the IP and Finance working group established by EUIPO, in which EUROCROWD has actively represented the crowdfunding sector since its inception. Within this framework, the working group aims to enhance IP knowledge within intermediary organizations like crowdfunding platforms through training, checklists, and other supporting materials. EUROCROWD's ambition extends to further integrating IP aspects within the crowdfunding sector, with the goal of developing practical support services accessible to companies seeking to run crowdfunding campaigns through crowdfunding platforms or EUROCROWD's broader network of members.