EIC STEP Scale Up: Six European Scale-Ups Selected for Investments of up to €30 Million

On 28 July 2026, the European Commission announced the latest results of the EIC STEP Scale Up call. Six deep-tech companies have been put forward for equity investments by the EIC Fund, with a combined volume of around €97 million. For European scale-ups in strategic technology sectors, the scheme has become one of the most attractive financing instruments in the EU.

Six out of 24: the results at a glance

Of the 24 submitted proposals, 17 companies were invited to the interview stage with independent high-level experts. Finally six of those were selected to start the investment process with the EIC Fund. The companies may receive a combined €97 million in equity investments, at between €10 and €30 million per company.

The selected companies cover a broad spectrum of technologies that are strategically relevant for Europe:

A notable detail for applicants: being short-listed but not funded is not a dead end. The six selected companies, together with a further six that were also assessed as excellent but could not be selected in this round because of the limited STEP budget, all receive the STEP Seal – a quality label intended to open doors to complementary or alternative funding sources and to the EIC Business Acceleration Services.

How the EIC STEP Scale Up scheme works

STEP Scale Up is part of the Strategic Technologies for Europe Platform (STEP) and is implemented by the EIC Fund. Unlike the EIC Accelerator, it is not a blended-finance instrument with a grant component, it is a pure equity investment.

Funding conditions in brief

• Investment volume: €10 million minimum, €30 million maximum per company (equity only)

• Call budget: €300 million in 2026

• Leverage effect: the EIC investment is designed to catalyse private co-investment and enable overall financing rounds of €50 to 150 million or more, addressing a well-documented gap in European deep-tech scale-up financing

• Thematic scope: digital technologies, clean and resource-efficient technologies including net-zero, and biotechnologies

• EIC STEP Scale-Up Defence: A separate call with a budget of €100 million was opened on June 30 for defence technologies to support projects falling within the defence strategic technology areas as described in STEP. Read our latest blog post on dual-use and defence here. 

• Additional benefits: access to the EIC Business Acceleration Services including global partners, coaches and mentors, training and the EIC innovation ecosystem, plus the STEP Seal for every company that passes the evaluation threshold

Who can apply?

Eligible applicants are a single SME or small mid-cap with fewer than 500 employees, established in an EU Member State or an eligible Associated Country (the UK is excluded). An investor may also submit a proposal on behalf of such a company.
The decisive hurdle, however, is not formal eligibility but investor readiness. Applicants must demonstrate initial market interest from a qualified investor covering at least 20% of the total target funding round. That target round must lie between €50 and 150 million and amount to at least three to five times the EIC investment.

Next submission dates

The call remains continuously open on the Funding & Tenders Portal, with evaluation sessions held quarterly. However, about 82% of the 2026 budget was already committed in the first deadlines, so competition will be intense. The remaining cut-off dates for proposal batching in 2026 are 9 September 2026 and 25 November 2026.

Our take

EurA AG supports deep-tech companies across the full EIC portfolio from EIC Pathfinder and Accelerator through to STEP Scale Up. If you are considering an application for one of the coming cut-offs, we are happy to assess your positioning and the fit of your funding round in a no-obligation initial conversation.

Text: Dr. Thomas Kraus

Image source: smartcat, stock.adobe.com