The European Commission has updated the investment guidelines within the EIC programme, specifically for the EIC Accelerator and EIC STEP Scale Up. The new guidelines clarify the conditions under which the EIC programme invests in innovative start-ups, SMEs and scale-ups. The changes mainly concern investments in defence and dual-use activities and tightened rules. This update follows earlier changes to the EIC Work Programme 2026. The 2026 Work Programme also already provides an outlook for EIC 2027.

What is changing in the EIC investment guidelines?

The EIC investment guidelines describe how the EIC programme makes investment decisions and ultimately exits investments. They are relevant to companies receiving funding through the EIC Accelerator or EIC STEP Scale Up. The new version of the EIC investment guidelines is also better aligned with the current EIC Work Programme. Some of the changes introduced relate to:

• Expansion of EIC funding for defence and dual-use technologies;
• Investment amounts within EIC STEP Scale Up are being increased;
• Greater attention is being paid to measures that can protect strategic European interests;
• The new investment guidelines are better aligned with the TRL requirements in the EIC Work Programme.

An important reason for the update is therefore the expansion of the EIC Accelerator and STEP Scale Up to include dual-use innovations. Since the amendment to the EIC Work Programme on 17 June 2026, projects under these schemes no longer have to focus exclusively on civilian applications. In 2026, a specific call for defence applications is therefore also available: the EIC STEP Scale Up Defence call. This means that the EIC programme is being explicitly used to support Europe’s economic and technological security.

EIC Accelerator for high-impact innovations and breakthrough technologies

For innovative start-ups and SMEs, the EIC Accelerator remains the main EIC instrument for the transition from technological development to commercialisation and scaling up. In 2026, a budget of more than €634 million is available for the EIC Accelerator. This is divided between EIC Accelerator Open and the thematic EIC Accelerator Challenges.

The updated investment guidelines are particularly relevant when an application includes an equity component. The EIC Fund can use various forms of equity and quasi-equity. In the case of direct equity, the fund aims to secure co-investments from other investors.

EIC STEP Scale Up for large investments

For companies requiring a larger funding round, EIC STEP Scale Up offers significantly greater investment capacity. STEP Scale Up focuses on strategic technologies, including digital and deep-tech technologies, clean tech and biotechnology. The scheme is intended to stimulate larger funding rounds. A company must therefore be able to demonstrate that there is already interest from a qualified investor willing to cover at least 20% of the intended total funding round. In 2026, €300 million is available for this scheme.

The new investment guidelines now more explicitly bring the conditions for these larger investments together with the EIC programme’s existing investment approach.

EIC grants in 2027: what is already known?

Although the final EIC Work Programme 2027 has not yet been published, the European Commission has already included an outlook in the EIC Work Programme 2026. It states that the main calls for EIC Accelerator, EIC Pathfinder, EIC Transition and EIC STEP will continue in 2027 without major changes. However, EIC 2027 is the final Work Programme under the current Horizon Europe programme. This could mean that some changes will be introduced as pilots for the subsequent programme. A draft version of the EIC Work Programme 2027 was recently published, but important budgets and dates have not yet been included.

This means that the updated investment guidelines are also relevant to companies planning to make use of the EIC programme in 2027. The final budgets and deadlines will, however, only become known once the EIC Work Programme 2027 is published in its final form.

Support with your EIC application?

Would you like to use one of the EIC instruments to take your breakthrough technology or innovation to the next level? Good preparation is essential. Our specialists have extensive experience with such applications and are happy to help you prepare effectively. Contact us at info@hezelburcht.com, call 088 495 20 00 or complete the contact form for an introduction.

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