STEP Scale Up

STEP Scale Up

Invests in European deep-tech scale-up ventures with momentum needing capital for commercial expansion.

Eligibility · EU member states + Horizon-associated

STEP Scale Up is the European Innovation Council's equity-only late-stage investment instrument, operated by the EIC Fund under the Strategic Technologies for Europe Platform (STEP) framework and administered by EISMEA under Horizon Europe. It provides €10–30 million equity investments to individual deep-tech SMEs and small mid-caps (under 500 employees) that are raising scale-up rounds of €50–150 million, with EIC covering 20–33% of the total target round alongside a qualified lead investor. The 2026 programme budget is €300 million. Priority sectors are Digital and Deep Tech, Clean Technologies, and Biotechnologies, with explicit priority on quantum technologies and semiconductors. The first eight portfolio companies were announced in April 2026, confirming active disbursement at scale. Applications are accepted on a rolling basis against four annual cut-off dates: 11 February, 6 May, 9 September, and 25 November 2026.

A hard pre-condition distinguishes STEP Scale Up from grant instruments: applicants must provide written proof of market interest from a qualified investor committing at least 20% of the total target round before submitting. This co-investment requirement positions EIC as a follow-on institutional participant in a round already anchored by a credible private lead, rather than as a primary risk-taker. Single applicants only — no consortia — and the lead investor may submit on the company's behalf. UK-registered companies are excluded entirely, unlike some other EIC instruments. Eligible geographies are EU Member States and Horizon Europe Associated Countries excluding the UK. Applicants may not have a concurrent EIC Accelerator application pending. Civil applications only; defense and military uses are excluded. Companies that meet the quality threshold but are not invested in receive the EIC Sovereignty Seal.

For applicants, STEP Scale Up is most relevant to post-product, revenue-generating or late-prototype deep-tech companies seeking to lead a Series B or C-equivalent round in Europe. The programme's structure means it functions as a signal multiplier — EIC participation alongside a named private lead investor provides credibility and balance-sheet depth to support further private co-investors in the same round. Applicants should approach the programme only when a credible investor commitment at the 20% threshold is already secured or very nearly so.