European Commission Reveals 8 Startups Receiving STEP Funding
European Commission Reveals 8 Startups Receiving STEP Funding
The European Commission (EC) has announced eight innovative startups selected to receive significant equity investments through the EIC Strategic Technologies for Europe Platform (STEP) Scale-Up call. These companies, working on breakthrough technologies crucial for Europe’s future, will undergo further evaluation by the EIC Fund before final investment decisions are finalised.
€171 Million in Proposed Investments
A total of €171 million has been proposed for equity investments under the EIC STEP Scale-Up scheme, with individual companies eligible for funding ranging from €10 million to €30 million. The initiative aims to attract private co-investment, enabling financing rounds of up to €150 million or more, according to the EC. The funding is designed to help bridge the financial gap faced by startups developing strategic technologies, allowing them to scale their innovations.
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Eight Companies Selected from 51 Proposals
Out of 51 companies that applied for the STEP funding, 36 were shortlisted to present their projects to a panel of independent high-level experts. Following rigorous evaluations, eight companies were selected for further consideration by the EIC Fund. The chosen startups represent a broad spectrum of strategic technologies, including quantum computing, advanced photonics, and renewable energy.
The selected companies are:
- Aldoria (France): Focuses on optimising and securing space operations.
- Focused Energy (Germany): Pioneering laser-driven fusion technology.
- Leyden Laboratories (The Netherlands): Developing solutions to combat respiratory viruses.
- Marvel Fusion (Germany): Building a laser-driven fusion power plant.
- Nexwafe (Germany): Specialising in next-generation solar wafers.
- Qphox (The Netherlands): Creating scalable, high-performance quantum processors.
- Quandela (France): Advancing photonic quantum computing.
- Smart Photonics (The Netherlands): Manufacturing next-generation chips.
While these firms have moved forward, 21 other companies that demonstrated strong potential missed out on funding due to budget constraints. However, all 29 companies, including those not funded, will receive the STEP Seal, which could help them secure additional funding and access EIC Business Acceleration Services.
Aiming for Strategic Independence
The STEP Scale-Up scheme is part of the EC’s broader efforts to reduce Europe’s strategic dependencies by scaling critical technologies. With a total budget of €300 million allocated for 2025 and 2026, the programme seeks to provide substantial support to companies working on innovations that will shape Europe’s technological landscape.
"This initiative is crucial in addressing the funding gap necessary for scaling up breakthrough innovations across Europe", the EC highlighted. The STEP funding call remains open for submissions, with evaluations scheduled quarterly, ensuring continuous opportunities for tech-driven companies to benefit from this programme.
By fostering larger financing rounds and encouraging private investments, the STEP Scale-Up scheme hopes to accelerate the development and market entry of technologies that will play a vital role in Europe’s future economic and strategic autonomy.