I share your sentiment, I'm also very skeptical that this money will be wisely used, a good chunk of it probably sinks into the Treibsand of European bureaucrac

I share your sentiment, I'm also very skeptical that this money will be wisely used, a good chunk of it probably sinks into the Treibsand of European bureaucracy. And significant amounts will go to shallow ideas of startups. Europe just doesn't have the right startup spirit. It's over regulated and risk averse. Both fatal for a fruitful development.