The European Commission’s Strategic Technologies for Europe Platform (STEP) Scale Up call represents a major new opportunity for high-potential, innovation-driven businesses seeking to secure significant rounds of investment and accelerate their growth trajectories. On April 3tercero, 2025, the Commission revealed the outcome of the first-ever application round. Out of 34 proposals received, 22 companies were invited to an in-depth Juries evaluation interview, and 7 companies have been deemed to meet all the criteria required to receive direct EIC Fund investment decisions, subject to standard due diligence. Additionally, 4 companies will be awarded the STEP Seal in recognition of their excellence, further enabling them to enhance their credibility and attract resources within the deep-tech and tech scale-up ecosystem. This article aims to provide a detailed overview of these results, the program’s objectives, the selection process, and the broader context of the STEP Scale Up call.
Background and Purpose of the STEP Scale Up Call
The introduction of the EIC Strategic Technologies for Europe Platform (STEP) Scale Up call is one of the European Commission’s most determined efforts to bolster Europe’s competitiveness and sovereignty in critical technology areas. Rapidly evolving market landscapes, combined with intensifying global competition, demand that European startups and scale-ups receive sufficiently large investments at crucial growth stages. Funding rounds in the €50 million to €150 million range have often been challenging to secure in the European ecosystem, thereby pushing valuable innovative companies to seek capital abroad or be acquired prematurely.
STEP Scale Up thus bridges this “valley of death” that most high-tech ventures encounter during or after market validation. The program promotes agile development, quick market expansion, and stronger positioning in strategic technology sectors—be it deep-tech, quantum technologies, AI, fusion energy, advanced materials, or space-related innovations. By providing investments of between €10 million and €30 million per company (with the intention of leveraging additional private co-investment), the new call is expected to help beneficiaries achieve these higher financing rounds needed for genuine scale-up.
The First Results of 2025
The first batch of submissions to the EIC STEP Scale Up call produced the following high-level results:
• Submission Deadline of the First Round: Early 2025
• Total Proposals Submitted: 34
• Number of Companies Invited to Interview: 22
• Companies Selected to Move Forward for Investment Decisions: 7
• STEP Seal Recipients: 11 (this includes the 7 investment decision candidates plus 4 additional high-scoring companies)
By these numbers alone, it is evident that the call is highly competitive. The overall success rate from proposal submission to being put forward for investment is reported at approximately 20.6%. When we delve deeper into specific stages of the evaluation, we see an approximate 63.7% pass rate from the written proposal to the interview stage, and from the interview stage to final selection, about 31.8% of interviewed companies were recommended for investment decisions. These percentages give a clearer idea of the rigorous selection funnel:
• Proposal to Interview: 63.7%
• Interview Pass Rate (to recommended for funding): 31.8%
• Overall Success Rate: 20.6%
This multi-layered, highly selective process ensures that only those companies with the strongest technological foundations, most robust business plans, and highest potential for positive societal and economic impact can access the STEP Scale Up’s large funding scheme.
Presenting STEP Scale-Up Winners
From the 34 potential ventures, 7 made it through every hurdle of the evaluation and are now presented to the EIC Fund for possible investment. These companies represent the cutting edge of the European innovation landscape, encompassing advanced AI hardware, clean fusion energy, quantum computing innovations, space surveillance, and more:
Axelera AI (Netherlands)
Axelera AI is recognized as a leading provider of application-specific AI hardware solutions, engrossed primarily in generative AI and computer vision inference. Their platform is designed to improve the efficiency and speed of data processing, allowing for the next generation of AI-based applications to operate at scale. By building strong hardware-software integration in Europe, Axelera AI is well placed to strengthen the EU’s competitiveness in the AI hardware race—an area typically dominated by large non-European players.
Focused Energy (Germany)
Focused Energy is tackling one of the largest challenges of our time: providing clean and limitless energy. They utilize a fusion process derived from seawater and lithium, making them one of the most compelling ventures in the emerging fusion energy sector. If successful, their technology can significantly reduce carbon emissions, address energy security, and serve as a transformative force for green energy transition in Europe and beyond.
Infinite Orbits (France)
Europe’s first commercial provider of autonomous in-orbit servicing, Infinite Orbits offers satellite servicing and AI-powered space surveillance. Their system can conduct on-orbit refueling, repairs, and maintenance, which extends satellite lifespans and reduces space debris. By merging advanced AI capabilities with aerospace engineering, Infinite Orbits lays the groundwork for a sustainable and resilient satellite infrastructure supporting everything from Earth observation to telecommunications.
IQM Finland (Finland)
IQM Finland is a quantum computing leader aiming to usher in a new era of European sovereignty in quantum technology. With a roadmap to produce 1 million qubits by 2033, IQM aims for a massive leap forward in computing power—transforming sectors like pharmaceutical research, complex modeling, logistics, and cryptography. IQM has already fabricated 30 quantum computers, placing them among the global leaders in quantum hardware technology.
Pasqal (France)
Pasqal focuses on full-stack quantum computing, developing critical hardware and software solutions that streamline the simulation of complex phenomena across multiple industries. They harness applications spanning materials design, climate modeling, and advanced encryption. Pasqal’s approach capitalizes on neutral-atom-based quantum computing, a methodology that has garnered significant interest for its scalability and coherence characteristics.
Xeltis (Netherlands)
Xeltis pioneers regenerative implants that utilize Nobel Prize-winning chemistry, reinventing vascular surgery and other medical fields by stimulating natural tissue regeneration in the human body. This feat promises a significant leap for minimally invasive therapy, reducing complications tied to synthetic implants. The technology can shorten hospital stays, reduce follow-up procedures, and ultimately save the healthcare system money while improving patient outcomes.
Zadient Technologies (France)
Zadient addresses crucial gaps in Europe’s semiconductor supply chain by seeking to establish industrial-scale Silicon Carbide (SiC) wafer production capabilities. SiC is a cornerstone material for electric vehicles, renewable energy systems, and power electronics, due to its higher performance at high voltage and temperature compared to traditional silicon. By securing a stable supply of ultra-pure SiC, Europe can reduce its dependencies, boost competitiveness, and ensure resilience in semiconductor manufacturing.
Presenting STEP Seal Recipients
Alongside these seven companies, four additional ventures achieved exceedingly high scores and demonstrated excellent proposals. Although they did not receive investment selections in this round due to budgetary constraints, they earned the STEP Seal, which acknowledges their excellence and eligibility for alternative or complementary funding opportunities. They also receive access to EIC Business Acceleration Services. These four are:
- Leyden Labs (Netherlands)
- Multiverse Computing (Spain)
- NETRIS Pharma (France)
- Prométhée Earth Intelligence (France)
Receiving the STEP Seal can significantly bolster a company’s profile when engaging with potential investors, industry partners, and research institutions. This recognition signals that, while immediate funding is not guaranteed, these entities have passed the same rigorous evaluation thresholds that define the standards of European innovation excellence.
STEP Sovereignty Seal
The STEP Seal is an important feature of the program, designed to drive synergy between public and private funding channels. Its core objectives include:
- Signaling Quality to Investors: Since each Seal recipient has withstood a comprehensive evaluation of its technology, market potential, financial plan, and operational strategy, the Seal bolsters their credibility and attractiveness for private capital.
- Providing Access to EIC Networks: STEP Seal recipients gain entry to a wealth of EIC Business Acceleration Services, including match-making with leading corporates, training workshops, networking events, and potential further financial opportunities.
- Bridging Funding Gaps: Companies may leverage the STEP Seal to unlock other EU-level grants, loans, or equity instruments administered under various frameworks. This multi-lateral approach to funding ensures that even those that are not allocated direct EIC investment in one round retain the impetus to locate the right funding source.
Commissioner Statement
The Commissioner for Startups, Research, and Innovation, Ekaterina Zaharieva, underscores how STEP Scale Up factors into the broader vision for Europe:
“The STEP Scale Up scheme is a game-changer for high-growth businesses, offering the vital resources, funding, and expert guidance needed to accelerate expansion. By unlocking powerful networks and strategic support, it empowers companies to break through growth barriers, spark innovation, and fuel economic success.”
This statement encapsulates both the spirit and ambition of the initiative. In a rapidly shifting global landscape, the Commission views robust entrepreneurial support as quintessential for achieving technological sovereignty, fueling job creation, and maintaining global competitiveness.
STEP Scale-Up Conditions
With a budget of €300 million in 2025—and projections to grow to €900 million during 2025-2027—the call helps close Europe’s investment gap in strategic technologies. A key goal is to catalyze private co-investment by requesting a pre-commitment from a qualified investor for at least 20% of the total funding round at the time of the application. Companies that raise a round of €50 million to €150 million generally need multiple funding sources, and the EIC—through the STEP scheme—aims to serve as a major anchor investor.
The mechanism works as follows:
- Investment Ticket: €10 million to €30 million per company from EIC Fund resources.
- Leverage Requirement: The overall round should reach €50 million or more, with external investors covering at least 20% at the outset.
- Continuous Submission: STEP Scale Up calls are open all year round, with evaluation sessions held quarterly, offering potential applicants the flexibility to apply when they are ready.
STEP Selection Process
The selection process for EIC STEP Scale Up funding is carefully structured to ensure that each proposal is measured on technical merit, economic potential, and strategic alignment with European objectives. Below is an expanded view of each step in the evaluation:
(1) Proposal Submission
• Eligible Applicants: A single SME or small mid-cap (defined as having up to 499 employees) from a Member State or Associated Country.
• Investor-Led Submissions: An investor may submit on behalf of an eligible venture, which is especially relevant for those businesses already in advanced discussions with key investment partners.
• Key Elements of the Application:
– Full Business Plan: Maximum 50 pages, covering technology, market analysis, revenue projections, and strategic direction.
– Pitch Deck: A concise 15-page document highlighting the core value proposition, target market, traction, and investment timeline.
– Pre-Commitment from an Investor: A letter from a qualified investment institution, demonstrating initial market interest and readiness to co-finance at least 20% of the new funding.
– Ownership Control Declaration: Clarification on shareholder structure to ensure that the business is predominantly owned and controlled within the EU or an Associated Country.
(2) Preliminary Assessment
• After submission, proposals undergo a preliminary check for eligibility and completeness. This includes verification of the SME or mid-cap status, compliance with page limits, presence of an investor letter, and alignment with strategic technology areas.
• Typically, within 4-6 weeks, applicants are notified about whether they progress to the in-person or online Jury interview stage, or require modifications.
(3) Jury Interview
• Applicants that pass the preliminary assessment join a Jury session composed of up to six members with domain expertise spanning venture capital, scientific research, technology commercialization, or corporate innovation.
• During this session, the leadership team from the applying company delivers a short presentation on their technology, business model, and market outlook, followed by a Q&A period.
• Juries evaluate applicants based on factors such as market potential, differentiation of the technology, feasibility of scale, and alignment with the mandates of the EIC and the Commission.
• In keeping with the program’s ambition for high-level strategic technologies, applicants are also expected to demonstrate how their technology and business model will fortify Europe’s future competitiveness, resiliency, or sovereignty in a given sector.
(4) Final Decision and Notification
• Following the interviews, each company receives a detailed evaluation summary report.
• Companies recommended for funding (i.e., the “winners”) move forward for formal due diligence by the EIC Fund. This legal and financial diligence process ensures that the terms of investment are aligned with standard venture capital practices.
• Companies that satisfy the evaluation criteria but are not selected for immediate funding will receive the STEP Seal and access to Business Acceleration Services.
• Companies that do not meet the criteria receive comprehensive feedback to refine their proposals for future submission rounds or alternative funding routes.
Future Expectations
The success of the first round of the EIC STEP Scale Up call offers a glimpse into the strategic growth engine the Commission envisions for Europe. By focusing on quantum, AI, clean energy, and other transformative fields, the EIC invests in emergent nodes of technological revolution. The likely effects of these investments include:
• Enhanced Sectors: Europe’s overall standing in advanced innovation sectors (particularly AI hardware, quantum, fusion energy, etc.) is poised to improve, creating a more competitive research and commercialization environment.
• Talent Retention: Large investment rounds and scale-up activities help European companies attract and retain top-tier talent, which might otherwise relocate to regions with greater venture capital availability.
• Strengthened Supply Chains: By bringing previously offshored processes and resources back into Europe—such as SiC wafer production—critical dependencies on third countries are minimized.
• Better Access to Markets: Larger investment rounds give companies the runway to expand globally, forging strong distribution channels, and enabling manufacturing scale.
Presupuesto
With a budget of €300 million allocated in 2025 and total projections up to €900 million for 2025-2027, the Commission is committed to sustaining and further developing the STEP Scale Up platform. The continuous open call with quarterly evaluation cycles ensures that the Commission remains flexible, responding dynamically to the pace of innovation. This stands in contrast to older, more rigid funding approaches with fixed deadlines that may not align with a startup’s readiness or capital requirements.
Cómo aplicar
Companies considering applying to future rounds of the STEP Scale Up call should keep the following points in mind:
• Prepare Thorough Documentation: Given the 50-page limit on the business plan, it is essential to present all pertinent details—technology, market, IP strategy, competition, financials, and expansion strategies—without losing clarity.
• Secure Investor Commitments Early: The requirement for a 20% co-investment letter from a qualified investor can be a bottleneck. Early-stage conversations and alignment with venture capital firms, corporates, or specialized funds can strengthen the submission considerably.
• Emphasize European Strategic Relevance: Demonstrate how the company’s growth will underpin European economic leadership, reduce dependencies, or secure sovereignty in a critical technology sector.
• Engage with EIC Business Acceleration Services: Even before applying, companies can benefit from the broader EIC environment, potentially attending events or workshops to hone their pitches.
• Focus on Long-Term Impact: Juries will closely examine how the product or service can create sustainable impacts—both economic and societal—over a multi-year horizon.
Conclusión
The unveiling of the first cohort from the EIC STEP Scale Up call has delivered several takeaways: Europe is home to a thriving ecosystem of highly ambitious companies tackling challenges that combine deep technological complexity with vast commercial opportunities. The 7 companies recommended for EIC Fund investment—Axelera AI, Focused Energy, Infinite Orbits, IQM Finland, Pasqal, Xeltis, and Zadient Technologies—are emblematic of Europe’s drive toward greater self-reliance, strategic autonomy, and innovative capacity. Meanwhile, the additional 4 companies awarded the STEP Seal continue to show that the funnel of potential recipients is both selective and robust.
With a 20.6% overall success rate, there is no doubt about the call’s competitiveness. Yet, even for companies that are not selected in the first instance, the Commission’s commitment to iterative support and feedback ensures the capacity to refine proposals and aim for subsequent rounds. This cyclical process, combined with the overarching support services offered by the EIC, fosters a truly pan-European approach to scaling breakthroughs.
Ultimately, the STEP Scale Up scheme stands as a central pillar in the EU’s efforts to stimulate major funding rounds for emerging technologies. As the program matures, further waves of promising European innovators will be given the runway to flourish, bringing forth a new generation of global category leaders capable of driving growth, reinforcing the Union’s tech leadership, and providing sustainable, positive impacts across the continent and beyond.
For more information on the STEP Scale Up open call, and to submit an application, prospective companies, investors, or partners should explore the Funding & Tenders Portal, familiarize themselves with the technical requirements, and prepare for the upcoming quarterly evaluation windows. By doing so, they position themselves at the frontline of European innovation and contribute to the shared vision of a dynamic, resilient, and sovereign European technology landscape.
Datos sin procesar
- Results published: 3 April 2025
- Year: 2025
- Round: 1
- Proposal submissions: 34
- Companies interviewed: 22
- Winners: 7
- Proposal success rate: 64.7%
- Interview success rate: 31.8%
- Overall success rate: 20.6%
- STEP Seal recipients: 11
- STEP Seal rate: 32.4%
The Full List Of STEP Scale-Up Winners
| Compañía | País | Project | Fondos | STEP Seal | Año |
|---|---|---|---|---|---|
| Axelera AI | Países Bajos | The leading provider of purpose-built AI hardware acceleration technology for generative AI and computer vision inference | Equity | Yes | 2025 |
| Focused Energy | Alemania | Fusion fuel designed for clean energy production, derived from sea water & lithium | Equity | Yes | 2025 |
| Infinite Orbits | Francia | Europe’s first commercial provider of autonomous in-orbit servicing and AI-powered space surveillance | Equity | Yes | 2025 |
| IQM Finland | Finlandia | Quantum computing leader with a production milestone of 30 quantum computers and a roadmap to 1 million qubits by 2033 | Equity | Yes | 2025 |
| Pasqal | Francia | Developer of a full-stack quantum computing technology designed to simulate complex phenomena for scientific discovery | Equity | Yes | 2025 |
| Xeltis | Países Bajos | Developing regenerative implants using Nobel-prize winning chemistry to revolutionise vascular surgery through natural tissue regeneration | Equity | Yes | 2025 |
| Zadient Technologies | Francia | Developing ultra-pure silicon carbide (SiC) materials and high-yield crystal growth technology to establish Europe's first industrial-scale SiC wafer production — a cornerstone for EVs, renewables, and semiconductor resilience | Equity | Yes | 2025 |
| Leyden Labs | Países Bajos | / | None | Yes | 2025 |
| Multiverse Computing | España | / | None | Yes | 2025 |
| NETRIS Pharma | Francia | / | None | Yes | 2025 |
| Prométhée Earth Intelligence | Francia | / | None | Yes | 2025 |
Acerca de
Los artículos encontrados en Rasph.com reflejan las opiniones de Rasph o sus respectivos autores y de ninguna manera reflejan las opiniones de la Comisión Europea (CE) o el European Innovation Council (EIC). La información proporcionada tiene como objetivo compartir perspectivas que son valiosas y pueden informar potencialmente a los solicitantes sobre esquemas de financiación de subvenciones como EIC Accelerator, EIC Pathfinder, EIC Transition o programas relacionados como Innovate UK en el Reino Unido o Small Business Innovation and Research grant (SBIR) en los Estados Unidos.
Los artículos también pueden ser un recurso útil para otras consultorías en el ámbito de las subvenciones, así como para redactores de subvenciones profesionales contratados como autónomos o que forman parte de una pequeña y mediana empresa (PYME). El EIC Accelerator forma parte de Horizonte Europa (2021-2027), que recientemente ha sustituido al anterior programa marco Horizonte 2020.
Este artículo fue escrito por ChatEIC. ChatEIC es un asistente de EIC Accelerator que puede asesorar sobre la redacción de propuestas, discutir tendencias actuales y crear artículos interesantes sobre una variedad de temas. Los artículos escritos por ChatEIC pueden contener información inexacta o desactualizada.
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