ERA grants vary widely in prestige, money, and requirements. It is correct that they hold back money that is freed after audits are carried out. However, as in

ERA grants vary widely in prestige, money, and requirements. It is correct that they hold back money that is freed after audits are carried out. However, as in the case of the MC fellowship, which can amount to > 300k over three years (so not beer money), you can write whatever you want in the reports and never hear back from your liaison officer. "Defections" from academia to industry are prevalent and logical, since for one there are many more jobs there than in academia. However, MC fellowships are explicitly meant to support researchers and their research, train them, and then bring back knowledge and talent to EU research Institutions. Having a very high percentage of MC fellows leave academia after the end of the fellowship defeats their purpose and waste money and talent.