EIC STEP Scale-Up Guide: EUR 900M for European Deep Tech Scale-Ups [2026]

The EIC STEP Scale-Up is a new equity investment programme launched by the European Innovation Council in 2025 under the Strategic Technologies for Europe Platform (STEP). It provides EUR 10-30 million in EIC Fund equity to European deep tech scale-ups, with a total budget of EUR 300 million in 2025 and a planned trajectory reaching EUR 900 million over 2025-2027. Unlike EIC Accelerator, this programme offers no grant component and targets larger, more mature companies raising substantial funding rounds.

EUR 300M

2025-2026 annual budget

EUR 900M

Planned 2025-2027 total

EUR 10-30M

Per company investment

3 sectors

Strategic tech areas

What Is the STEP Programme?

STEP stands for Strategic Technologies for Europe Platform. It was established by the European Commission to address a recognised market gap: European deep tech companies consistently struggle to raise the large funding rounds needed to scale globally. While US and Asian competitors can access institutional growth capital at scale, European scale-ups have historically faced a funding valley of death between seed/Series A and late-stage growth rounds.

The EIC STEP Scale-Up call fills this gap directly. The EIC Fund acts as an equity co-investor, committing EUR 10-30 million alongside qualified private lead investors. The objective is to catalyse total funding rounds of EUR 50-150 million, supporting companies that are developing technologies critical to European strategic autonomy.

Strategic Autonomy Focus

STEP Scale-Up proposals must demonstrate that the technology reduces or prevents strategic dependencies of the EU. This is not a generic innovation fund. The programme explicitly targets sectors where European reliance on non-EU suppliers poses economic or security risks.

Budget and Growth Trajectory

The programme launched in 2025 as a pilot with a EUR 300 million budget. The European Commission has confirmed the same annual budget for 2026, with the trajectory growing toward EUR 900 million across the three-year period 2025-2027.

Year	Budget	Status	Cut-off Dates
2025	EUR 300M	Completed (pilot)	April, Q2, November
2026	EUR 300M	Open	11 Feb, 6 May, 9 Sep, 25 Nov
2027	EUR 300M+	Planned	To be confirmed

Eligible Strategic Technology Sectors

STEP Scale-Up covers three strategic categories. All proposals must fall within at least one of these areas:

Digital and Deep Tech

Advanced semiconductor technologies
Artificial intelligence
Quantum technologies
Advanced connectivity and navigation
Advanced sensing technologies
Robotics and autonomous systems

Clean Technologies

Solar and wind energy
Battery storage and electrification
Green hydrogen
Carbon capture and utilisation
Nuclear (including fusion)
Circular economy technologies

Biotechnologies

Critical medicines and APIs
DNA and RNA technologies
Protein and cell engineering
Gene and viral vectors
Bioinformatics platforms
Nano-biotechnology

Eligibility Requirements

The eligibility rules are tighter than EIC Accelerator. Check every item before investing time in an application.

Single SME or small mid-cap with up to 499 employees

Established in an EU Member State or Horizon Europe Associated Country

Technology operates in digital, clean tech, or biotech strategic sectors

Qualified lead investor committed to at least 20% of the total funding round

Total target funding round between EUR 50 million and EUR 150 million

Investment request between EUR 10 million and EUR 30 million

Technology demonstrates innovative, cutting-edge elements with significant economic potential

Companies with more than 499 employees (large enterprises are excluded)

Companies in financial difficulty or subject to outstanding recovery orders

Proposals submitted for the fourth or more time with the same or improved idea (from 2026)

Technologies without a clear link to reducing EU strategic dependencies

Investor Eligibility

A qualified investor under STEP Scale-Up must be a professional investor as defined by MiFID II, or a public financial institution. Angel investors or friends-and-family rounds do not satisfy the 20% co-investment requirement. Confirm your lead investor qualifies before submitting.

EIC STEP Scale-Up vs EIC Accelerator: Full Comparison

Both instruments sit within the EIC portfolio, but they target different company stages and offer fundamentally different funding structures. See our full comparison of EIC instruments for broader context.

Criterion	STEP Scale-Up	EIC Accelerator
Funding type	Equity only	Grant + Equity (blended)
Investment amount	EUR 10-30M	Up to EUR 2.5M grant + EUR 15M equity
Target company size	SME or small mid-cap (up to 499 employees)	SME (up to 249 employees)
Company stage	Growth / scale-up (Series B+)	Early to mid-stage (TRL 5-9)
Co-investor requirement	Mandatory (min. 20% of round)	Not required at application
Total round size	EUR 50-150M	Not specified
Sector focus	Strategic STEP sectors only	All breakthrough innovation
Application frequency	Continuous, 4 cut-offs/year	Three cut-offs per year
Sovereignty Seal	Yes	No (separate EIC Seal)
Business acceleration	Yes (for Seal recipients)	Yes (EIC programme)

The Application Process

The call is continuously open. Applications are batched into four quarterly evaluation rounds per year. The 2026 cut-off dates are 11 February, 6 May, 9 September, and 25 November.

Prepare your application package

Assemble the company profile, technology description, market analysis, financial projections, and evidence of the lead investor commitment covering at least 20% of the target round. The application is submitted through the EIC Funding and Tenders Portal.

Submit before a quarterly cut-off

Submit your proposal before the next batch cut-off date. All proposals submitted by the cut-off date enter the same evaluation batch. There is no advantage to submitting weeks before the deadline versus the final day.

Administrative and eligibility check

The EIC verifies that the company meets formal eligibility requirements (company size, sector, investor commitment, round size). Incomplete or ineligible applications are rejected without evaluation.

Expert evaluation

A panel of independent experts evaluates proposals on technology innovation and strategic impact, market potential and economic significance, and quality of the proposed scale-up plan.

Jury interview (invited applicants only)

Companies that meet evaluation thresholds are invited to a jury interview. Invitation notifications are sent within 4-6 weeks of the batch evaluation start. The jury consists of investors and industry experts who assess the team and business case.

Investment recommendation and due diligence

Recommended companies are subject to standard investment due diligence by the EIC Fund before the investment is finalised. The EIC Fund then negotiates and executes the equity investment alongside the private lead investor.

Key Timing Note

The evaluation-to-investment timeline varies, but based on 2025 pilot data, expect roughly 3-6 months from submission to investment decision for successful companies. Plan your fundraising timeline accordingly, as the EIC Fund investment will not close until after due diligence completes.

The Sovereignty (STEP) Seal

One significant feature of STEP Scale-Up is the Sovereignty Seal. Companies that meet all evaluation thresholds but are not selected for investment still receive the Seal. This is not a consolation prize. The Seal grants:

Privileged access to funding and support from other EU programmes

Recognition as a company of strategic importance to European competitiveness

Access to the EIC Business Acceleration Services network

Signalling value to private investors and financial institutions

Potential preferential treatment under national and regional funding schemes

2025 Pilot Results

The programme completed three evaluation rounds in 2025, establishing a track record:

Round	Proposals submitted	Invited to interview	Recommended
1st (April 2025)	34	22	7
2nd (2025)	19	5	4
3rd (November 2025)	51	36	8
Total 2025	104	63	19

The first companies to receive disbursed investments from the EIC Fund were IQM Quantum Computers and Zadient Technologies, announced in November 2025. Other funded companies from 2025 rounds span quantum computing, fusion energy, next-generation photovoltaics, space operations, and advanced semiconductor manufacturing.

Selection Rate Context

Across the three 2025 rounds, approximately 18% of submitted proposals received investment recommendations, and 61% of proposals submitted were invited to interview. This compares favourably to EIC Accelerator, which selects around 5-8% of all applicants. However, STEP Scale-Up applicants are substantially more advanced companies with committed investors, so fewer speculative applications are submitted.

Evaluation Criteria

The jury evaluates proposals on three dimensions. Each must be addressed explicitly in the application:

1. Technology Innovation

The technology must be innovative, emerging, and cutting-edge. The proposal must demonstrate how it reduces or prevents EU strategic dependencies. Pure commercial products without technological novelty do not qualify.

2. Market and Economic Potential

Significant addressable market with a credible path to commercial scale. The EIC expects investees to become global category leaders, not niche players. Revenue traction and customer evidence are critical.

3. Scale-Up Plan Quality

A credible and detailed plan for how the EIC investment and the co-investor capital will be deployed. Clear milestones, use of funds, team capability, and a compelling explanation of why the round size is appropriate.

How to Position Your Application

Based on the 2025 pilot results and EIC guidance, these are the factors that distinguish successful applications:

Lead with strategic dependency reduction. Explicitly map how your technology reduces European reliance on non-EU suppliers, whether in critical materials, manufacturing capacity, software infrastructure, or supply chains.
Demonstrate investor quality. The calibre of your lead investor matters. Tier-1 European or transatlantic VCs with deep tech portfolios signal credibility. Document their expertise in your sector.
Show revenue traction. STEP Scale-Up is not a research grant. Companies entering EUR 50-150M rounds should have meaningful commercial revenue or binding customer commitments.
Prepare for the jury interview. The interview covers deep technical questions alongside business and financial questions. Ensure your CTO and CEO are both prepared and available.
Be specific about use of funds. Generic "scale sales and marketing" plans are insufficient. Quantify headcount, geographic expansion, manufacturing capacity, or R&D milestones with the capital.

After the Investment

EIC Fund investments are structured as equity stakes, meaning the EIC Fund becomes a shareholder. Companies should expect:

Standard minority investor rights and information obligations
Access to the EIC Community, connecting funded companies across the EIC portfolio
Business Acceleration Services: coaching, mentoring, investor matching, and corporate partnership facilitation
Potential co-investment opportunities with National Promotional Banks and other EU financial institutions

The EIC Fund is a long-term investor and does not hold investments indefinitely. Exit strategies and holding periods are negotiated as part of the investment agreement.

Is EIC STEP Scale-Up Right for Your Company?

STEP Scale-Up is appropriate if all of the following apply to your situation:

Your company has up to 499 employees and is registered in the EU or an associated country

Your technology clearly falls in digital/deep tech, clean tech, or biotech

You are raising a round of EUR 50-150M in the next 6-18 months

You have a committed qualified lead investor covering at least 20% of the round

You can articulate how your technology reduces EU strategic dependencies

Your technology has genuine novelty and a defensible competitive position

If your company is earlier-stage or raising a smaller round, the EIC Accelerator or other EU funding instruments for SMEs are likely better fits.

Frequently Asked Questions

What is the EIC STEP Scale-Up programme?

The EIC STEP Scale-Up is an equity-only investment programme launched in 2025 under the Strategic Technologies for Europe Platform (STEP). It provides EUR 10-30 million in EIC Fund equity investments to European deep tech scale-ups in digital, clean technology, and biotechnology sectors. The total budget is EUR 300 million per year, growing to EUR 900 million over 2025-2027.

How does EIC STEP Scale-Up differ from EIC Accelerator?

EIC STEP Scale-Up targets more mature companies raising larger rounds (EUR 50-150M total round size) and provides equity-only investments of EUR 10-30M. EIC Accelerator supports earlier-stage SMEs with blended finance up to EUR 2.5M in grants plus up to EUR 15M in equity. STEP Scale-Up also requires a committed lead investor covering at least 20% of the total round, while EIC Accelerator does not mandate co-investors at application stage.

Who can apply to EIC STEP Scale-Up?

A single SME or small mid-cap with up to 499 employees, established in an EU Member State or Horizon Europe Associated Country. The company must be developing technologies in digital and deep tech, clean and resource-efficient technologies, or biotechnologies. An investor may submit a proposal on behalf of an eligible company. As of 2026, applicants are limited to 3 attempts with the same or improved proposal.

What is the co-investment requirement?

Applicants must demonstrate initial market interest from a qualified investor committing at least 20% of the total target funding round. The total round must be EUR 50-150 million, meaning the EIC investment of EUR 10-30M should catalyse a round 3 to 5 times larger than the EIC contribution.

When are the 2026 application deadlines?

The call is continuously open. Proposals are batched at four cut-off dates in 2026: 11 February, 6 May, 9 September, and 25 November. Applicants are informed about jury interview invitations within 4-6 weeks of the start of the evaluation process.

What is the Sovereignty (STEP) Seal?

Companies that meet all evaluation thresholds are awarded the Sovereignty (STEP) Seal, even if not selected for funding. The Seal provides privileged access to other EU programmes, additional funders, and investors. It functions as a quality mark signalling strategic importance to European competitiveness.

What sectors qualify under EIC STEP Scale-Up?

Three strategic categories are covered: (1) Digital and deep tech including advanced semiconductors, AI, quantum technologies, advanced connectivity, sensing technologies, robotics, and autonomous systems; (2) Clean and resource-efficient technologies including solar, wind, battery storage, hydrogen, carbon capture, and circular economy; (3) Biotechnologies including critical medicines, DNA/RNA technologies, cell and gene engineering, and nano-biotechnology.

How competitive is EIC STEP Scale-Up?

Based on 2025 pilot data, the programme is selective but not as extreme as EIC Accelerator. In the first 2025 cut-off, 34 proposals were submitted and 7 were recommended for investment. In the third cut-off, 51 proposals were submitted and 8 were recommended. Overall, the selection rate across 2025 rounds was roughly 19 out of 104 proposals submitted.

Find Funding Opportunities With GrantsFinder

EIC STEP Scale-Up is one of many EU instruments targeting deep tech companies. Matching your specific technology and stage to the right programme requires understanding the full landscape. GrantsFinder uses AI to analyse your project and surface the most relevant EU funding calls from across Horizon Europe, the EIC portfolio, Digital Europe, and beyond.

Describe your technology and growth plans, and GrantsFinder will identify which programmes your company is most competitive for, including STEP Scale-Up, EIC Accelerator, and sector-specific calls.