The first EIC STEP Scale Up results of 2026 are out, and they reveal an important shift in how Europe is supporting its most strategic deep-tech companies.
EIC STEP Scale Up is emerging as a highly selective funding pathway for European deep-tech companies ready to scale.
In the first 2026 batch, 44 companies applied, 28 reached the interview stage, and 8 were selected for potential EIC Fund investments worth a combined €146.5 million, subject to due diligence.
The results highlight a clear trend: success depends not only on breakthrough innovation, but also on investor readiness, scale-up potential and strategic relevance for Europe.
What is EIC STEP Scale Up?
It focuses on strategic sectors such as:
AI
Quantum technologies
Space
Biotech
Clean tech
Advanced manufacturing
Critical raw materials
Unlike most EU funding schemes, STEP Scale Up targets growth-stage companies. Through the EIC Fund, it provides equity investments of €10 million to €30 million to help companies close large funding rounds and attract private investors.
The goal is simple: bridge Europe’s scale-up funding gap and help high-potential companies become global leaders.
Nearly two-thirds of applicants reached the interview stage, but only 8 companies were ultimately selected.
This suggests that many companies meet the technical and innovation requirements, but far fewer can demonstrate the commercial maturity, investment readiness, and scale-up potential needed to secure funding.
The biggest hurdle appears to be the interview stage. In other words, the programme is not only evaluating innovation. It is evaluating whether the company is ready for a major scale-up round.
Almost half of the 2026 budget may already be committed
The 8 selected companies could receive a combined €146.5 million.
With a total 2026 budget of €300 million, almost half of the available funding may already be tied to the first batch.
That is a strong signal: STEP Scale Up is not distributing small amounts across many companies. It is concentrating large investments in a limited number of scale-ups that are ready for serious growth.
For future applicants, this means there may be less room for “good but not ready” proposals in later batches. Companies need to show they can justify a large equity ticket, attract co-investment and turn the funding into a credible European scale-up story.
A strong proposal is important, but so is a convincing investment story.
Large investments for ambitious growth
The average potential investment in this batch is around €18.3 million per company.
This confirms that STEP Scale Up is designed for serious growth rounds, not small grants or bridge financing.
For deep-tech companies, this level of funding can support:
Manufacturing scale-up
Market expansion
Regulatory approvals
Infrastructure development
Talent acquisition
Commercial deployment
In short, STEP Scale Up is aimed at companies ready to move from innovation to large-scale growth.
Which countries were selected?
While established innovation hubs remain well represented, the results also show that strong companies can emerge from across Europe.
Success appears to depend far more on company quality and strategic relevance than geography.
Strategic technologies are the priority
The selected companies operate in areas that are central to Europe’s future competitiveness:
The common theme is not only technological excellence. It is strategic relevance.
STEP Scale Up is not a general innovation programme. It is designed to strengthen Europe’s position in technologies that matter for economic resilience, industrial leadership, and technological sovereignty.
Thus, applicants need to show not only why their technology is innovative, but why it matters for Europe.
The STEP Seal still matters
Not every strong company received funding.
Alongside the 8 selected companies, another 18 applicants received the STEP Seal, recognising them as high-quality projects that could not be funded due to budget limitations.
That means 26 out of 44 applicants, almost 60%, received some form of recognition.
For companies that receive the STEP Seal, it can still be a valuable asset when approaching investors, national funding programmes, or alternative financing sources due to a strengthened company’s credibilty.
A stable selection pattern is emerging
Looking at all STEP Scale Up results to date:
Stage
Cumulative companies
Rate
Proposals submitted
148
100%
Invited to interview
91
61%
Selected
27
18%
Overall, the success rate remains close to 18%, almost identical to this latest batch.
This suggests a consistent pattern:
Around 60% reach interview.
Around 20% are ultimately selected.
For applicants, interview preparation is becoming increasingly important.
Does EIC Accelerator experience help?
One interesting trend is the connection between EIC Accelerator and STEP Scale Up.
So far, 19 of the 27 selected STEP Scale Up companies previously received EIC Accelerator funding: around 70%.
Although previous EIC funding is not required, it may still provide an advantage. Companies that have already gone through the EIC process often have stronger business cases, clearer growth strategies, and a better understanding of investor expectations.
This reinforces the idea that STEP Scale Up is often part of a longer funding journey rather than a standalone opportunity.
Key lessons for applicants
The first 2026 results highlight four clear success factors:
1. Innovation alone is not enough. Companies must show they are ready to scale.
2. Investor readiness matters. A credible financing strategy is essential.
3. Strategic relevance is critical. The strongest applications align with European priorities.
4. Interviews can make or break an application. This is where many companies fall out of the process.
Final thoughts
The first EIC STEP Scale Up results confirm that the programme is becoming one of Europe’s most important funding instruments for deep-tech scale-ups.
In conclusion, the companies that succeed are not just innovative. They combine strong technology with commercial maturity, investor confidence, and a compelling strategic role in Europe’s future.
If you’re considering EIC STEP Scale Up, the question is no longer whether your technology is good enough.
The real question is whether your company is ready to scale.
At Evolution Europe, we help deep-tech companies build funding strategies, strengthen investor readiness, and prepare competitive EIC applications.
Thinking about applying for EIC STEP Scale Up? Contact us to discuss your funding strategy:
Let us help you unlock the full potential of your innovation. Whether you’re looking for grants,
private funding, or tax benefits, our experts are ready to guide you every step of the way.
