In a groundbreaking announcement, the European Commission has selected eight innovative startups to receive Strategic Technologies for Europe Platform (STEP) funding, with three of these companies hailing from the Netherlands. The STEP initiative, part of the European Innovation Council's broader strategy, aims to identify and accelerate the growth of groundbreaking technologies that will strengthen Europe's technological sovereignty. For entrepreneurs and founders, particularly in deeptech, this is a pivotal moment worth dissecting.
As an entrepreneur myself, I’ve seen the European tech ecosystem evolve over the last decade. While strides have been made, the gap in late-stage funding for startups has often forced some of Europe's brightest companies to seek opportunities elsewhere, particularly in the United States. With STEP funding providing up to €30 million per company and the potential to facilitate financing rounds of €50M or more, this is a game-changer. Here’s everything business owners, startup founders, and freelancers need to know about this development.
The Eight Startups and Their Innovations
The European Commission reviewed 51 proposals from across the continent and interviewed 36 applicants before narrowing the selection to eight. These companies represent a wide spectrum of strategic technologies deemed critical for Europe's future. Here's a closer look at these innovators:
- Aldoria (France): Enhancing the safety and optimization of space operations.
- Focused Energy (Germany): Laser-driven fusion technology for clean energy generation.
- Leyden Laboratories (Netherlands): Developing solutions to protect populations from respiratory viruses.
- Marvel Fusion (Germany): Building next-generation fusion power plants.
- Nexwafe (Germany): Pioneer in high-efficiency solar wafer manufacturing.
- Qphox (Netherlands): Scaling high-performance quantum processors.
- Quandela (France): Breakthroughs in photonic quantum computing systems.
- Smart Photonics (Netherlands): Designing and manufacturing photonic chips for the next generation.
The Dutch Standouts: The Netherlands cemented its reputation as a leader in deeptech with three selected startups: Leyden Laboratories, Qphox, and Smart Photonics. From quantum processors to innovative photonic chips, the Netherlands is showcasing its ability to tackle some of the most complex and pressing technological challenges today.
Why This Matters for Entrepreneurs
The STEP initiative addresses one of the most significant barriers for startups in Europe, access to sufficient funding for scaling. Historically, startups in deeptech sectors such as quantum computing and fusion energy have struggled to secure late-stage financing in Europe, even with promising technologies.
According to the European Commission, by providing equity investments of up to €30 million and facilitating larger financing rounds with co-investors, STEP is designed to bridge this scale-up gap.
For startup founders, this is an important takeaway. The Commission has recognized the vital role technology plays not only in economic growth but also in the continent’s geopolitical independence. Whether you're working on deeptech, climate solutions, or healthtech innovations, the STEP model highlights the growing support for groundbreaking ideas.
How to Benefit from STEP Funding
If you're a startup founder, freelancer, or even a small business looking to expand into deeptech sectors, here’s a quick guide on leveraging this opportunity:
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Monitor STEP Calls Regularly: STEP investments are part of ongoing initiatives under the EIC. To increase your chances, regularly check platforms like the EIC Fund information page.
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Apply Early and Focus on Strategic Tech Areas: The Commission is heavily investing in areas like quantum technologies, renewable energy, and biomanufacturing. Align your business goals with these priorities.
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Prepare for Rigorous Vetting: The STEP application process is stringent and competitive, involving high-level expert interviews. Focus on showcasing the scalability, innovation, and impact of your product or service.
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Collaborate Smartly: A key feature of STEP funding is co-investment. Assemble partnerships with European and international investors to strengthen your profile during the evaluation stage.
The Pitfalls to Avoid
While this funding model is groundbreaking, it’s not without challenges. Entrepreneurs should watch out for these potential pitfalls:
- Underestimating the Application Process: Don’t treat the application process as a simple grant proposal. Every detail, from scalability to long-term sustainability, will be scrutinized.
- Over-reliance on EU Support: While STEP funding is significant, it should not be your company’s sole financial lifeline. Build a diverse investment portfolio by engaging with private investors.
- Ignoring Follow-up Opportunities: Even if you’re not selected, receiving the STEP Seal, a mark of credibility, can open doors to other investment opportunities. Leverage this recognition when seeking alternative funding.
Deeper Insights from Violetta Bonenkamp
As a serial entrepreneur and advocate for innovative ecosystems, this announcement feels personal to me. My experience with startups has shown that access to late-stage funding is frequently the bottleneck that prevents promising European innovations from flourishing. The STEP program addresses this head-on by making Europe a more attractive market for both innovators and investors.
But the real brilliance of this initiative lies in its long-term planning. STEP isn’t just about pouring money into startups, it’s about shifting Europe’s approach to technology, sovereignty, and sustainability. For founders, this is your wake-up call. Now is the time to align your strategies with forward-looking EU goals. Programs like STEP are providing unprecedented opportunities to scale technologies that will define the future.
Ending with Actionable Tips
Whether you're an aspiring founder or an established innovator, here’s my advice:
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Get familiar with STEP-funded startups, like those mentioned above, and learn what made them successful. For instance, startups like Leyden Laboratories and Smart Photonics excelled by focusing on scalable innovations that address critical challenges.
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Understand the EU's strategic tech priorities. Quantum computing, photonics, health tech, and clean energy currently dominate. Tailor your company’s R&D efforts to these high-impact areas.
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Network with other entrepreneurs and experts working in these fields. You can gain insights and even potential partners by attending events and joining ecosystems like Fe/male Switch, my very own startup game initiative aimed at growing entrepreneurs in deeptech spaces.
In conclusion, while STEP funding is a major win for Europe’s strategic autonomy, it’s also a moment of unparalleled opportunity for entrepreneurs. With clear goals, a robust strategy, and alignment with the EU’s vision for transformative technologies, your startup could be the next success story. Europe is gearing up for a tech renaissance, are you ready to be part of it?
FAQ
1. What is the STEP initiative?
The Strategic Technologies for Europe Platform (STEP) is an initiative by the European Commission to provide scale-up funding for startups in strategic technology sectors crucial for Europe's technological sovereignty. Selected startups can receive up to €30 million in equity investments. Learn more about STEP
2. How many startups were selected for STEP funding, and which countries are they from?
Eight startups were selected, with three companies based in the Netherlands. The remaining startups hail from France and Germany. Discover the selected startups
3. What are some of the Dutch startups supported by STEP?
The Netherlands contributed three startups: Leyden Laboratories (focused on antiviral solutions), Qphox (scalable quantum processors), and Smart Photonics (photonic chips). Explore Dutch contributions
4. How does STEP aim to close the funding gap for late-stage European startups?
STEP addresses the late-stage funding gap by providing significant equity investments (up to €30 million) and facilitating financing rounds between €50M to €150M through partnerships with private co-investors. Learn about STEP's funding goals
5. What types of innovation are being supported through STEP funding?
The STEP initiative focuses on groundbreaking technologies such as quantum computing, fusion energy, photonics, and healthtech, all considered critical for Europe's strategic autonomy. Discover STEP's tech priorities
6. What additional support do startups receive if not selected for STEP funding?
Startups not selected for funding may still receive a STEP Seal, which enhances their credibility and can help them secure alternative investments or access the EIC Business Acceleration Services. Learn more about STEP Seal benefits
7. How competitive is the STEP funding selection process?
The selection process is highly competitive. Out of 51 initial proposals, only 36 companies were interviewed, and ultimately eight were chosen based on rigorous evaluation by expert panels. Explore the selection process
8. Why is STEP significant for Europe’s future?
STEP is critical for ensuring Europe's technological sovereignty by supporting innovations that reduce dependency on non-EU technologies, promote economic growth, and address global challenges like energy and health crises. Read more about STEP's impact
9. What sectors have dominated the first round of STEP funding?
Deeptech sectors such as quantum computing, renewable energy (fusion technology and solar wafers), and health solutions have been prominent in the first round of STEP funding. Check out funded sectors
10. How can startups and businesses prepare to apply for STEP funding in the future?
Interested startups should align their innovations with STEP’s focus areas like quantum tech and renewable energy, prepare for rigorous evaluations, and build partnerships with private co-investors. Get tips on applying for STEP
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.