The European Commission’s Strategic Technologies for Europe Platform (STEP) Scale Up Initiative: Boosting High-Growth Tech Companies

The European Commission has recently announced its support for eight promising technology companies through the STEP Scale Up initiative, a part of the Strategic Technologies for Europe Platform (STEP). This initiative aims to provide major equity support to accelerate strategic innovations in Europe.

These selected companies are now in the process of finalizing investment decisions by the EIC Fund, subject to due diligence. The program targets companies at a crucial stage where significant capital is required to scale operations and establish a strong market presence.

Each of the chosen companies stands to receive funding between €10m and €30m, with a total potential investment of up to €146.5m if negotiations are successful. Out of 44 applicants, only eight companies met all technical, commercial, and strategic criteria, highlighting the competitiveness and high standards of the EIC STEP Scale Up process.

European Innovation in Strategic Sectors

The selected companies represent a diverse range of deep-tech innovation aligned with Europe’s industrial priorities. For instance, Aignostics from Germany focuses on using artificial intelligence (AI) for drug development to enhance clinical outcomes. Meanwhile, Alice & Bob in France is working on a universal quantum computer, and Quantware in the Netherlands is dedicated to scalable quantum hardware architecture.

In the space sector, companies like Endurosat from Bulgaria and Payload Aerospace from Spain are expanding satellite intelligence and developing transportation systems for lunar and interplanetary missions, respectively. Sustainability and resource innovation are also key areas of focus, with companies like Again Bio from Denmark converting CO₂ into chemicals using AI-driven biocatalysts and Reverion in Germany advancing renewable energy systems.

Greenland Resources is contributing to critical raw materials supply by developing a significant molybdenum deposit with additional magnesium output.

Tackling Europe’s Scale-Up Funding Gap

The EIC STEP Scale Up scheme addresses the persistent challenge of insufficient late-stage funding for deep-tech companies in Europe. By offering investments between €10m and €30m, the program aims to catalyze larger funding rounds ranging from €50m to €150m or more. This strategy is designed to attract private capital and reduce dependence on external markets.

The focus on digital technologies, clean energy, and biotechnology aligns with Europe’s goal of achieving greater strategic autonomy in these sectors.

Ongoing Opportunities and Strategic Implications

With a budget of €300m allocated for 2026, the EIC STEP Scale Up program is witnessing significant demand. The initiative operates on a rolling basis, with evaluation cut-off dates scheduled throughout the year to support breakthrough technologies and enhance industrial resilience.

The latest cohort of companies funded through the program signifies a shift towards investing in firms capable of delivering economic value and technological sovereignty. By concentrating capital on high-potential companies, the EIC STEP Scale Up program prioritizes depth and impact in key sectors like quantum computing, clean energy, and space infrastructure.