The European Commission has updated the investment guidelines for the European Innovation Council (EIC) Fund
The updated EIC Fund investment guidelines will help SMEs and potential investors involved in the EIC Accelerator and EIC STEP Scaleup programmes.
Published on 27 August 2026 by the European Innovation Council and SMEs Executive Agency, the revised EIC Fund investment guidelines explain how the EIC Fund approaches investment and divestment decisions.
They also outline the conditions and processes companies can expect after being selected for support.
New rules show changing investment priorities
One of the biggest changes is the inclusion of defence-related activities. This follows recent adjustments to the EIC work program and clarifies how companies operating in relevant areas may be considered for investment.
The updated EIC Fund investment guidelines also take into account of larger potential investment amounts following the introduction of the EIC STEP Scaleup call.
The STEP initiative supports companies with the potential to develop and scale technologies considered strategically important for Europe’s future competitiveness.
More clarity for companies and investors
The revised EIC Fund investment guidelines helps companies understand what happens once they are selected for EIC support. It also provides useful information for potential co-investors looking to participate alongside the EIC Fund.
Several areas have been aligned more closely with the latest EIC work programs. These include investment safeguards, technology readiness levels (TRL), follow-on investments and intellectual property rights.
The changes are intended to clarify the investment process while ensuring EIC funding remains focused on companies with strong potential for growth and technological impact.
Supporting Europe’s deep tech ambitions
The EIC Fund plays a central role in the European Union’s efforts to help promising deep tech companies move from innovation to commercial scale.
Since its creation in June 2020, the Fund has invested in more than 360 deep tech companies across Europe. Its investments are also designed to attract additional private capital, with the EIC Fund currently leveraging more than €3.50 in additional investment for every €1 of direct investment.
This approach aims to address one of the major challenges European startups face: securing sufficient capital to develop and commercialise advanced technologies at scale.
Separate guidelines for the Scaleup Europe Fund
The updated investment guidelines apply to companies selected through the EIC Accelerator, specifically those receiving blended finance or equity support, as well as companies selected under EIC STEP Scaleup calls.
Separate investment guidelines will be issued for the Scaleup Europe Fund (SEF) after this compartment is established in August 2026.
The latest update provides applicants and investors with a clearer framework for understanding how the EIC Fund operates as Europe continues to strengthen support for high-potential startups and SMEs.
