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Grant Analysis

Purpose & Target

This grant aims to propel ambitious scale-up companies with game-changing innovations in Europe's critical technology areas. It provides significant financial and strategic support to help these companies raise larger funding rounds and reach the forefront of their sectors. - Single, clear statement of grant's core objective: To accelerate the development and market launch of high-risk, game-changing innovations from ambitious scale-up companies in critical technology areas through equity-only investments. - Explicit identification of target recipient type and size: SMEs and small mid-caps. - MUST state if grant is 'SECTOR-SPECIFIC' or 'SECTOR-AGNOSTIC': SECTOR-SPECIFIC - Geographic scope and any location requirements: Companies must be established in an EU Member State or an Associated Country. - Key filtering criteria for initial grant screening: - Your innovation must be within designated critical technology areas (digital, clean/resource efficient, biotechnologies). - You must be raising significant funding rounds. - You must demonstrate initial market interest with a pre-commitment for equity investment from a qualified investor (at least 20% of your target round). - Grant frequency and program context: This is a recurring call, part of the 2025 EIC Work Programme under Horizon Europe, with budget allocated for 2025-2027.

Financial Structure

Funding type: Equity-only investments managed by the EIC Fund.
Grant component: Applicants will not receive a grant component.
Minimum investment per application: EUR 10,000,000.
Maximum investment per application: EUR 30,000,000.
Total indicative budget for 2025: EUR 300,000,000.
Total indicative budget for 2025-2027: Expected to rise to EUR 900,000,000.
Co-financing requirements: The EIC investment is designed to catalyse major funding rounds aiming at least three to five times the amount of the requested EIC contribution (e.g., total funding round in the range of EUR 50,000,000 to EUR 150,000,000).
Payment mechanism: Specific terms of each investment are considered and negotiated on a case-by-case basis in accordance with the EIC Fund Investment Guidelines.

Eligibility Requirements

Organization Type and Size

Single company classified as an SME or small mid-cap (up to 499 employees).
An investor may submit a proposal on behalf of an eligible SME or small mid-cap, provided a prior agreement exists with the company.

Geographic Location

The company must be established within an EU Member State or an Associated Country.
If a holding entity exists, this holding company must also be established in an EU Member State or an Associated Country.

Financial & Operational Capacity

The company must be raising significant funding rounds.
The company must demonstrate initial market interest.
A pre-commitment for an equity investment from a qualified investor is mandatory.
This pre-commitment must represent at least 20% of the total target funding round you are aiming to raise.

Critical Technology Focus

Innovation must be within the scope of priority areas defined in the STEP regulation and Guidance note:
- Digital technologies and deep tech innovations (e.g., advanced semiconductor, AI, quantum, advanced connectivity, sensing, robotics, autonomous systems).
- Clean and resource efficient technologies, including net-zero technologies (e.g., solar, wind, battery, heat pumps, hydrogen, biogas, carbon capture, electricity grid, nuclear fission, alternative fuels, hydropower, energy efficiency, non-biological fuels, biotech climate/energy, transformative industrial, CO2 transport/utilisation, wind/electric propulsion, other nuclear, advanced materials, manufacturing, recycling, water purification/desalination, circular economy).
- Biotechnologies, including medicinal products on the Union list of critical medicines and their components (e.g., DNA/RNA, proteins, cell/tissue culture, process biotechnology, gene/RNA vectors, bioinformatics, nanobiotechnology).
These technologies are deemed critical if they either:
- Bring to the internal market an innovative, emerging, and cutting-edge element with significant economic potential; OR
- Contribute to reducing or preventing strategic dependencies of the Union.

Exclusion Criteria

Recipients must not be directly or indirectly controlled by a non-associated third country or a legal entity established in a non-associated third country.

Application Process

Application Deadlines & Submission

Application submissions are accepted on a continuous basis.
The latest submission deadline is 2025-12-16 00:00:00+0000.
Proposals must be submitted via the EU Funding & Tenders Portal.

Required Documentation & Materials

An application form specific to this call, available in the Submission System.
Familiarity with the EIC Work Programme 2025 and relevant Guidance notes (especially regarding priority areas and criticality conditions).
Proof of a pre-commitment for an equity investment from a qualified investor as part of your proposal.

Evaluation Process

The call features a shortened evaluation process.
Evaluation includes assessment by EIC Juries.

Support Offered

Beyond funding, successful companies benefit from a strong support system including Business Acceleration Services (BAS).
Successful applicants will be awarded a Sovereignty (STEP) Seal, which facilitates and provides privileged access to funding and support from other EU programmes and funders/investors.

Evaluation Criteria

The evaluation for the EIC STEP Scale Up call employs a shortened evaluation process and involves EIC Juries, similar to the EIC Accelerator. Core Evaluation Focus (Binary GO/NO GO decision)

Strategic Relevance & Innovation Potential:
- Is the innovation a game-changing solution in Europe's critical technology areas?
- Does it have the potential to disrupt established markets or forge new ones across Europe, with significant global impact?
- Does it contribute to reducing or preventing strategic dependencies of the Union?
Scale-Up Potential & Financial Viability:
- Is the company positioned to raise significant funding rounds?
- Will the EIC investment act as a catalyst for larger funding rounds (e.g., 3-5 times the EIC contribution)?
- Is there initial market interest supported by a pre-commitment from a qualified investor?
Impact & European Interest:
- Will the investment ensure the company keeps most of its value, including its intellectual property, in the EU or Associated Countries?
- Will the project contribute to economic growth and job creation within the EU or Associated Countries?
Company & Team Strength:
- Implicitly, the company and its team must demonstrate the capacity to successfully execute the scale-up plan and attract subsequent investment. While not explicitly detailed as scoring criteria in Section V, this is a general expectation for EIC investments of this magnitude.

Compliance & Special Requirements

Economic Security

To safeguard the Union's strategic assets, interests, autonomy, and security, recipients must not be directly or indirectly controlled by a non-associated third country or a legal entity established in a non-associated third country.
Specific safeguards may be introduced in the investment agreement on a case-by-case basis to protect European interests, as defined in the Investment Guidelines.

Intellectual Property (IP)

Supported companies are expected to keep most of their value, including their IP, in the EU or Associated Countries.

Financial Compliance

The EIC Fund will not enter into any contract or maintain a business relationship with any institution or individual listed on sanction lists.
Compliance with EU rules and policies addressing money laundering, terrorism financing, tax avoidance, tax fraud, and tax evasion is required.
Prohibition of new or renewed operations with entities incorporated or established in non-cooperative jurisdictions or identified as high-risk third countries for tax purposes.

Strategic Importance & Special Features

This call is part of the implementation of the Strategic Technologies for Europe Platform (STEP), supporting the development or manufacturing of critical technologies within the Union or safeguarding their value chains.
It is designed to fill the funding gap for companies investing in the scale-up of high-risk innovations where other investors cannot fully finance the required amount.
Applicants are encouraged to consider complementarity with Venture Debt from InvestEU implementing partners.
This is introduced as a pilot call with novelties, including a shortened evaluation process.
Support for startups in semiconductor technologies and quantum technologies will be particularly pursued through this call, including in support of the Chips Act.

Grant Details