First results under the EIC STEP Scale Up scheme
Published on: 30/05/2025
Seven companies that have met all the criteria will be put forward for investment decisions by the EIC Fund.
Selected companies will now go forward to the EIC Fund for investment decisions, subject to due diligence. The scheme provides investments of between €10 and €30 million (per company) aiming to leverage private co-investment and achieve financing rounds of €50 to €150 million or more. This addresses the market gap in such financing rounds which are critical for scaling breakthrough innovations in Europe.
Out of 34 companies that submitted their proposal to the first batch, 22 were invited to interview with independent high-level experts, and seven that meet all the criteria will be put forward for investment decisions by the EIC Fund. The selected companies cover a range of strategic technologies for Europe:
- Axelera AI (NL) - the leading provider of purpose-built AI hardware acceleration technology for generative AI and computer vision inference
- Focused Energy (DE) - fusion fuel designed for clean energy production, derived from sea water & lithium.
- Infinite Orbits (FR) - Europe’s first commercial provider of autonomous in-orbit servicing and AI-powered space surveillance.
- IQM Finland (FI) - quantum computing leader with a production milestone of 30 quantum computers and a roadmap to 1 million qubits by 2033
- Pasqal (FR) – Developer of a full-stack quantum computing technology designed to simulate complex phenomena for scientific discovery.
- Xeltis (NL) - developing regenerative implants using Nobel-prize winning chemistry to revolutionise vascular surgery through natural tissue regeneration.
- Zadient Technologies (FR) - 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.
