EIC STEP Scale Up: Up to 30 million euros for deep tech

The path from a groundbreaking technology to an internationally successful company is capital-intensive. Many deep-tech companies hit financial limits, especially during the scaling phase: they must build up production capacity, tap into international markets, and meet regulatory requirements—long before they generate significant revenue.

With the EIC STEP Scale Up Program, the European Union has created a new financing instrument that addresses precisely this challenge. The European Innovation Council (EIC) co-invests between 10 and 30 million euros in equity in particularly innovative European deep-tech companies, thereby supporting large funding rounds alongside private investors.

What is EIC STEP Scale Up?

EIC STEP Scale Up is aimed at companies that already have a validated technology and are now looking to take the next step in their growth. The program’s goal is to bring key European technologies to market more quickly and strengthen their international competitiveness.

The program focuses on equity investments from the EIC Fund. These investments are intended to complement private investments and enable financing rounds ranging from 50 to 150 million euros or more. This makes EIC STEP Scale Up one of the largest European financing instruments for innovative growth companies.

Who can apply?

The program is aimed at innovative companies based in an EU member state or an associated country that are active in strategic deep-tech sectors.

These include, among others (excerpt):

• Clean technologies and energy technologies
• Semiconductors and Microelectronics
• Artificial Intelligence (AI)
• Quantum Technologies
• Robotics and Automation
• Defense
• Biotechnology
• New materials, as well as
• many other strategic future technologies

The prerequisite is that the technology has already reached a high level of maturity and that the company is on the verge of a decisive phase of growth or international expansion.

What benefits does EIC STEP Scale Up offer?

Access to substantial growth capital

Secure larger funding rounds

Many deep-tech companies require funding volumes that exceed those of traditional venture capital rounds. EIC STEP Scale Up helps close funding gaps and enable substantial growth investments.

Increase international visibility

An investment from the European Innovation Council sends a strong signal of quality to investors, industry partners, and international customers. It strengthens the company’s credibility and can facilitate access to additional sources of capital.

More than just capital

In addition to funding, companies benefit from the EIC’s Business Acceleration Services. These include international networks, coaching, mentoring, and connections to industry partners and investors. These additional services support international scaling and accelerate the market launch of innovative technologies.

The selection process: High standards, great opportunities

Selection takes place through a rigorous competitive process. Among other factors, the following are evaluated:

• Level of innovation and technological edge
• Market potential and scalability
• Business model and growth strategy
• Contribution to Europe’s technological sovereignty
• Quality of the management team
• Investment readiness and financing strategy

A compelling application strategy is therefore crucial to success. In addition to technological excellence, companies must clearly articulate their market position, scaling plans, and capital requirements.

Successfully submitting an EIC STEP Scale Up application with EurA

Preparing an EIC STEP application requires much more than just filling out forms. Successful applications combine technological innovation with a compelling business strategy, a robust financial plan, and a clear investment story.

EurA supports companies throughout the entire process - from the initial potential analysis and the development of a compelling application strategy to submission and communication with the European Innovation Council.

With decades of experience in European innovation funding and comprehensive expertise in the EIC programs, we help you significantly increase your chances of success and streamline the application process.

Conclusion

EIC STEP Scale Up offers European deep-tech companies an exceptional opportunity to finance their next phase of growth. With equity investments of up to 30 million euros, the involvement of private investors, and a strong European innovation network, the program creates ideal conditions for the international scaling of cutting-edge technologies.

Would you like to know if your company is eligible for EIC STEP Scale Up?

Then please feel free to contact us. We’ll work with you to assess your eligibility, develop a compelling application and financing strategy, and support you all the way through to a successful submission. This will help you create the best conditions for realizing the full potential of your innovation.

Text: Benjamin Raab

Image source: GabiD - stock.adobe.com