The European Commission has published updated EIC Fund Investment Guidelines, providing revised guidance for companies selected under the EIC Accelerator and EIC STEP Scaleup, as well as for potential co-investors.
The guidelines explain the EIC Fund’s investment approach and the conditions governing investment and divestment decisions. Compared with the previous version, they incorporate recent changes to the EIC Work Programme, including provisions relating to defence-related activities and the larger investment amounts introduced through the EIC STEP Scaleup call.
What has been updated?
The revised guidance strengthens alignment with the EIC Work Programme in several areas:
- Investment safeguards applied to EIC Fund operations.
- Technology Readiness Levels (TRLs) considered in the investment process.
- Follow-on investments supporting eligible portfolio companies.
- Intellectual property rights and their treatment in investment decisions.
EIC Accelerator investments generally range from €0.5 million to €10 million, while EIC STEP Scaleup investments can range from €10 million to €30 million.
Why the guidelines matter
The EIC Fund supports high-potential European start-ups and SMEs in scaling breakthrough technologies while attracting additional private investment. Since its establishment in 2020, the Fund has invested in more than 360 deep-tech companies across Europe.
According to the European Innovation Council, every euro invested directly by the EIC Fund has leveraged more than €3.5 in additional investment. Clearer investment guidance therefore matters not only to selected companies, but also to private co-investors assessing potential transactions alongside the Fund.
Who do the updated guidelines apply to?
The updated guidelines apply to companies selected under the EIC Accelerator blended-finance or equity-only routes and the EIC STEP Scaleup scheme. They also provide important information for potential co-investors considering participation in EIC-backed investment rounds.
Separate investment guidelines for the new Scaleup Europe Fund will be issued following the establishment of that fund.
Official source
This EXELIXIS briefing is an original summary based on the official European Commission announcement published on 27 August 2026. The official guidelines and applicable programme documents prevail.