EU programmes · European Investment Bank Group
The EIB Group overhauled its defence lending policy, expanding the Strategic European Security Initiative to allow pure military investments and creating a one-stop shop with a dedicated Security and Defence Office as a single point of entry. Products span direct loans, venture debt for innovative SMEs and mid-caps, and intermediated credit lines through banks, with the Pan-European Security & Defence Lending Envelope tripled to €3 billion. The 2026-2028 Operational Plan keeps overall financing at €100 billion with €4.5 billion for security and defence.
Debt, not grants: the EIB now finances defence companies that banks still avoid, and venture debt from its one-stop shop can extend runway without dilution once you have revenue or strong contracts.
European Commission (DG DEFIS), with EUSPA and the EIF
Space is treated as dual-use across EU funding; CASSINI gives space-defence start-ups an equity pipeline and visibility instruments that stack with EDF and EUDIS applications.
European Investment Fund with the European Commission, under InvestEU
Not a programme you apply to as a company, but it determines which European VCs have fresh defence-mandated capital; track its fund commitments to know who can actually write you a cheque.
European Commission (European Innovation Council, Horizon Europe)
The only EU instrument giving a single dual-use company both grant and equity with no consortium requirement; since June 2026 you no longer need to disguise defence relevance as purely civil.
Next deadline 4 Nov