EIC selects six new European scale-ups for STEP Scale Up investments

The European Commission has announced a new group of companies selected to receive investments of up to €30 million to help them scale up and establish a strong market position. The investments are part of the EIC Strategic Technologies for Europe Platform (STEP) Scale Up call. Out of 24 companies that submitted their proposals, 17 were invited to interview with independent high-level experts. Six of those met all the eligibility and evaluation criteria and are now put forward for investment decisions by the EIC Fund, subject to due diligence. If negotiations are successful, the companies may receive a combined €97 million of equity investments (between €10 and €30 million per company).

These six companies, together with additional six companies that were also considered excellent but not selected in this round due to the limitations of the available STEP budget, will all receive the STEP Seal. The Seal aims to facilitate access to complementary or alternative funding as well as to EIC Business Acceleration Services.

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