This paper proposes a directionality framework that highlights goal, sector and solution as key dimensions of transformative policy missions. The framework is used to investigate the directionality of process industry decarbonization in Sweden, by analyzing the orientation of projects supported by the major national funding program the ‘Industry Leap’ between 2017 and 2022. The results show that innovation activities (i) mainly aim to reduce fossil emissions rather than produce negative emissions, (ii) focus on the steel and chemicals industries, and (iii) engage mostly with carbon capture, electrification and hydrogen. This indicates that innovation activities are somewhat narrow and imbalanced, which suggests that policymakers should promote broader experimentation. The theoretical and empirical contribution of this paper supports academics, policymakers and other actors in understanding, evaluating and shaping the directionality of transformative policy missions.