Patent Incentive Fund
The National Intellectual Property Management Office (NIPMO) is currently assessing whether it will offer a similar award to the Inventors Incentive Award scheme that was operated by the now defunct Innovation Fund.
The Award programme is therefore under review until further notice and no awards are currently being made. Notice of any developments will be updated on this site and any eligible inventors will be contacted by RC&I.
The Innovation Fund, in a drive to stimulate the filing of patent applications at research institutions has offered a Patent Incentive Fund to reward inventors for each granted South African patent. RC&I applies for this award on behalf of UCT inventors and ensures that supporting information, confirmations of inventors and prior art searches are provided.
Awards are dependent on the number of inventors:
- A single inventor receives R25,000
- Two to three inventors receive R20,000 each
- Four inventors receive R18,000
- Where there are multiple inventors of five and above a maximum of R80,000 is paid per patent, which is shared equally amongst the inventors.
An inventor may only receive one award per annum and it may be subject to PAYE deductions.
Download more information about the Patent Incentive Fund conditions here.
To find out more about the UCT application process contact Cynthia Best.