GrowthAccelerator is a government backed scheme that offers services aimed at helping to support companies that have the potential to grow rapidly.  The scheme can provide assistance in a number of different ways, from access to finance and business development through to leadership and management training.

On the intellectual property side of things, companies that have signed up to the scheme can apply for an IP audit.  This is a grant worth £3000 from the UK intellectual Property Office to conduct an audit of the company's intellectual property.  The aim of an IP audit is to maximise the value of IP within the business.  This can include a review of existing IP as well as looking at the potential for obtaining further IP. 

The IP audit scheme has recently been renewed and IP audits are currently available.

An IP audit can cover all types of IP – patents, trademarks, designs, copyright, know-how and confidential information.  The audit can be focused according to your individual needs and can include guidance on topics such as improving invention harvesting and portfolio management, assessing third party IP rights, and commercialisation of your technology.  Putting in place the right IP strategy can help to protect your technology and improve your market position, thereby helping your company to grow.

There is no contribution from the company towards the cost of the IP audit, the application process is simple and the company is free to choose the IP professional that they would like to carry out the audit.