# EIC STEP Scale-Up Defence closed Tuesday with nine applications and €175 million in equity demand -- 75 percent above the €100 million available.
EUACC page: https://www.euacc.ai/briefing/pulse-17
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## Public content

**issue:** 17
**type:** pulse
**date range:** 30 Oct 2026
**tagline:** EIC STEP Scale-Up Defence closed Tuesday with nine applications and €175 million in equity demand -- 75 percent above the €100 million available.
**published at:** 2026-10-30
**sections:** 
  -     **body:** On **28 October**, the **EIC STEP Scale-Up Defence** call closed -- the first EIC instrument offering direct equity to companies in **pure-defence** applications, not just dual-use.

Nine applications were submitted from defence companies across **seven EU member states**. Together they requested **€175 million** in equity investment, against a total call budget of **€100 million**. Focus areas spanned **air and missile defence** and **drones and counter-drone systems**.

Tickets run from **€10 million to €30 million** per company, with investment made directly through the **EIC Fund**. Shortlisted candidates face interviews in **January 2027**, with results announced in **February 2027**.
    **emoji:** ⚔️
    **label:** EIC DEFENCE
    **heading:** First EIC defence equity call closed: nine applicants from seven countries, €175M requested against €100M budget
  -     **body:** Demand exceeding supply by **75 percent** at first close signals a structural funding gap in EU defence deep tech that the STEP instrument was designed to address.

Each EIC investment is structured to catalyse co-investment of **at least three times the EIC contribution** -- meaning the €100M budget is designed to unlock €300M+ in private rounds alongside it.

One in three applicants came from **widening countries** (member states with lower research and innovation performance), a notably broad geographic spread for a first-of-kind call.

For companies that missed the October window: the **general EIC STEP Scale-Up** call (non-defence deep tech, €10-30M equity) closes **25 November 2026**.
    **emoji:** 📍
    **label:** WHY IT MATTERS
    **heading:** Oversubscribed at first close -- and a catalytic model designed to unlock three times the public capital

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