Investing in the European Industry of the Future
The Strategic Technologies for Europe Platform “STEP” is an initiative of the European Commission dedicated to boosting investment in critical technologies in Europe. Calls are open through various types of EU funding, including grants and loans – with the aim to de-risk investments.
STEP is not a new fund or programmes. It pools funding from 11 different EU funding programmes – managed or co-managed by the Commission - towards projects that are innovative and/or reduce the dependency of the EU towards third countries.
In terms of stage of development, the projects supported span from research to manufacturing.
Investment needs across the EU are massive - European industries are looking for capital to reach their full potential.
If you are an institutional, public or private investor interested in strategic technologies, we encourage you to regularly visit our website to discover innovative projects that may present compelling investment opportunities. Pay special attention to projects that have been awarded a STEP Seal by the European Commission, as this new label designation signifies excellence and potential.
STEP Seal projects
The STEP Seal is awarded to top-rated proposals under 5 programmes funded by the EU and managed by the European Commission: the Digital Europe Programme, the European Defence Fund, the EU4Health programme, Horizon Europe, or the Innovation Fund. It is awarded by the European Commission to promising projects with the aim to bridge the funding gap for groundbreaking ideas. This new label of excellence signifies high-quality projects in cutting-edge technology with high potential.
STEP Seal selection process
The projects are carefully evaluated by the European Commission and independent expert panels for feasibility, innovation, scalability, and market potential. The award criteria ensure as well that all project proposals meet at least one of the following conditions:
- They bring an innovative, cutting-edge element with significant economic potential to the Single Market
and/or
- They help reduce or prevent strategic dependencies of the Union.
This assessment offers assurance that the projects are high-quality strategic technologies with promise for the future of the EU industry. These projects are seeking long-term financial partners and vary in nature depending on the EU funding programme from which they were selected.
- Innovation Fund projects typically encompass large decarbonization industrial projects that implement new technologies. These projects are often financed by companies through loans, and guarantees can be beneficial. For investors seeking less risky projects with a strong Environmental, Social, and Governance (ESG) dimension, Innovation Fund projects may present an appealing option.
- Horizon Europe supports a wide variety of research projects, ranging from fundamental to applied research, often involving multiple beneficiaries. While particularly relevant for public investors, European Innovation Council (EIC) Accelerator projects, mainly involving single-beneficiary SMEs with breakthrough innovation, are closer to market and may present compelling opportunities for venture capital investment, potentially benefiting from equity investment from the EIC Fund and private co-investors.
- Digital Europe Programme encompasses areas such as supercomputing, artificial intelligence, advanced digital skills, cybersecurity, and the widespread use of technologies across the economy and society. For investors working in these areas, the selected projects offer valuable insights into upcoming developments.
- EU4Health finances projects that contribute to a healthier European Union, focusing on protecting people, enabling access to medicinal products and devices, and strengthening healthcare systems. While these themes may be of less direct interest to private investors, breakthrough innovations in the health sector are addressed by Horizon Europe EIC Accelerator.
- European Defence Fund promotes cooperation between companies in the defence field, boosts defence capabilities, and supports the development of cutting-edge and interoperable technologies. Investors specializing in this industry will find interest in exploring the new developments in this area.
STEP Seal: added value for EU managing authorities
The STEP Seal offers advantages for Member States managing authorities by streamlining the selection process for preselected projects that have been awarded the Seal and meet the requirements of the Common Provision Regulation and relevant cohesion policy fund-specific rules under the European Regional Development Fund (ERDF) or the European Social Fund (ESF+).
This means that projects which have already passed evaluations under programmes like Horizon Europe, Digital Europe, EU4Health, the European Defence Fund, or the Innovation Fund, and align with STEP objectives, can receive easier access to support from ERDF or ESF+.
Ultimately, this opens up more opportunities for projects to secure funding and make meaningful contributions to the objectives of the programmes.
Join the conversation and share your ideas
Are you an investor with questions, comments, or innovative ideas on how to make STEP a bigger success? Share your thoughts and help shape the future of STEP. Simply fill out this form to connect with us and let us work together to drive growth and innovation in Europe's critical technologies.