EIC STEP Scale Up: €10–30 million in equity for deep-tech scale-ups, deadline 25 November

The European Innovation Council (EIC) invests between €10 million and €30 million in the equity of SMEs and small mid-caps (under 500 employees) that develop digital, clean or biotechnology solutions and are preparing a funding round of €50–150 million. The EIC STEP Scale Up call remains permanently open. The next evaluation deadline is 25 November 2026 at 17:00 (Brussels time), and the budget for 2026 is €300 million.

At the end of July 2026, the EIC announced the results of an evaluation round: of 24 proposals submitted, 17 companies were invited to interview and 6 moved on to the investment decision stage. If negotiations succeed, the 6 companies could receive a combined €97 million.

In brief

• Programme: EIC STEP Scale Up (Horizon Europe, STEP platform – Strategic Technologies for Europe), call HORIZON-EIC-2026-STEP
• Authority: European Innovation Council (European Commission); investments are managed by the EIC Fund
• Beneficiaries: a single company, an SME or small mid-cap (under 500 employees), established in an EU Member State or in an eligible associated country
• Total budget: €300 million in 2026
• Value per project: between €10 and €30 million, exclusively in the form of equity
• Submission period: permanently open call; the 2026 evaluation deadlines are 11 February, 6 May, 9 September and 25 November, at 17:00 (Brussels time)
• Status: open; the next deadline is 25 November 2026

Who can apply?

According to the EIC, a single company may apply: an SME or small mid-cap with fewer than 500 employees, established in an EU Member State or in a country associated with Horizon Europe. Companies from Romania are eligible. The proposal may also be submitted by an investor on behalf of the eligible company.

The technology must fall within one of the three STEP areas:

• digital and deep-tech technologies (for example semiconductors, artificial intelligence, quantum technologies);
• clean and resource-efficient technologies, including net-zero (for example solar, wind, hydrogen);
• biotechnologies (for example DNA/RNA-based therapies, nanobiotechnology).

According to the frequently asked questions published by the EIC, it is not mandatory to have previously received EIC funding.

What financial conditions must be met?

STEP Scale Up is not a grant. The EIC takes an equity stake in the company as an investor, alongside other investors. The official conditions are:

• the targeted funding round must be between €50 and €150 million;
• at least 20% of the total round must be committed upfront by a single qualified investor, public or private, with demonstrable experience in the relevant market;
• the total round must be at least 3–5 times larger than the EIC investment of €10–30 million.

How and by when do you apply?

Submission is made on the European Commission's Funding & Tenders portal, under call HORIZON-EIC-2026-STEP. The application comprises a full proposal (maximum 50 pages) and a pitch deck in PDF format (maximum 15 pages). After the eligibility check, a technology due diligence review and an interview with a jury follow.

Proposals are gathered in batches at each deadline. For 2026 only one deadline remains: 25 November, 17:00 (Brussels time). The EIC announces within 4–6 weeks of the start of the evaluation whether the company is invited to interview, and the interview result comes roughly 2–3 weeks after the interviews.

Proposals that pass the evaluation thresholds but receive no funding because of a lack of budget are awarded the "STEP Seal", a mark of excellence that helps in obtaining other funding and gives access to EIC acceleration services. In the July round, in addition to the 6 selected companies, another 6 received this seal.

What this means for your business

Our recommendation: STEP Scale Up suits a small number of Romanian companies: those that already have customers, revenue, a validated technology and an investment round of at least €50 million in preparation. For an early-stage start-up, other instruments are more suitable, for example the EIC Accelerator or national programmes. The quickest way to see where you fit is the eligibility check.

If your company qualifies, two months before the deadline you need to have:

• a lead investor who commits, in documented form, to at least 20% of the round (without one, the proposal will not pass the eligibility check);
• financial data and a growth plan that support a round of €50–150 million;
• clear arguments for fitting into one of the three STEP areas and for the innovative nature of the technology;
• a team prepared for due diligence and for an interview with the jury.

The most common trap is treating the call like a grant. The EIC becomes a shareholder, so the structure of the round, investor rights and the company's valuation are all negotiated. Involve legal and financial advisers early.

Frequently asked questions

Is EIC STEP Scale Up a non-refundable grant?

No. The EIC invests exclusively in the company's equity, through the EIC Fund, between €10 and €30 million, as part of a larger funding round.

Can companies from Romania apply?

Yes. SMEs and small mid-caps with fewer than 500 employees, established in an EU Member State, including Romania, or in an eligible associated country, may apply.

What is the next submission deadline?

The call is permanently open, and the next evaluation deadline is 25 November 2026, 17:00 (Brussels time). It is the last deadline announced for 2026.

Do I need an investor before I apply?

Yes. At least 20% of the targeted total round must be committed upfront by a single qualified investor, public or private, with experience in the relevant market.

What happens if the proposal is good but does not receive funding?

Proposals that pass the evaluation thresholds receive the "STEP Seal", which helps in accessing other funding and gives access to EIC acceleration services.

Official sources

• EIC – The EIC selects new European scale-ups for STEP Scale Up investments (28 July 2026)
• EIC – STEP Scale Up programme page
• EIC – frequently asked questions about the STEP Scale Up call
• Funding & Tenders portal – call HORIZON-EIC-2026-STEP

Information checked on 27 September 2026. Conditions may be amended by the managing authority — check the guide in force before submitting.