Over 50 responses were received from IP attorneys, trade bodies, industry associations and a range of industry sectors. As a result the IPO has committed to:
- work with the British Business Bank and Her Majesty’s Treasury (HMT) to address barriers to growth for IP rich firms. This should help them use their IP to access growth funding
- pilot an ‘Innovation Enabler Fund” for Local Enterprise Partnerships and Universities of the West Midlands. This will give financial and advisory support to help local Small, Medium Enterprises (SMEs) put in place IPstrategies
- review and update the IP Finance Toolkit
- develop a Business to Business toolkit to help business cooperation
Minister for Intellectual Property, Sam Gyimah said:
We are a nation of great ideas, which for many companies and innovators are their most valuable asset. Today’s response shows our intellectual property community that we are listening, and through our modern industrial strategy are determined to back our ambitious creators with a world-class IP regime.
You can read the full response on the Industrial Strategy call for views.