What is the STEP?
The Strategic Technologies for Europe Platform (STEP) scale up call is a fundraising programme that offers support to start-ups and SMEs that meet the following criteria:
- Aim to scale up via funding round
- Already secured an external investor
- Focus on strategic technologies as defined by the EU
Who can apply?
You can apply if you meet the following eligibility criteria:
- You are one of the following:
- An Israeli company legally registered in Israel that meets the EU definition of a Small-Medium Enterprise (SME) or a small mid-cap of up to 499 employees legally registered in Israel or Europe.
- An investor applying on behalf of an eligible SME or a small mid-cap (if selected for funding, the contract will be signed with the eligible company).
- The company is focused on one of the strategic areas defined by the EU: Digital and deep tech, Cleantech, and Biotech.
- The company already has a pre-commitment for an investment of at least 20% of the funding round.
Funding
Companies will receive an equity-only investment of EUR10 million – EUR30 million, covering 20%-33% of the funding round (total round EUR50 million – EUR150 million).
How to apply for EIC STEP?
Application consists of 2 stages:
- Stage 1 – submission of application: companies must send a full business plan, a pitch deck presentation, and a pre-commitment letter from a qualified investor. Every 3 months the proposals will go through an eligibility check for the applicant, the thematic area of the proposal and the investor. All eligible proposals will be invited to the second stage.
- Stage 2 – interview: a panel of up to 6 jury members will conduct a remote interview. The interview will consist of two sessions: a pitch deck presentation by the company, followed by a Q&A session. Results are expected about 2 weeks following the interview.