All these while the EU is running out of funds and in a process of de-industrialization. There should be an independent corruption investigation on Brussels.
It's bureaucracy, often bordering with stupidity. You may need advisors to navigate all their forms & processes. But it certainly isn't "pals-only" type of deal.
On the other hand - is it harder than getting VC funding? For seasoned founder with reputation - probably. For fresh startup - probably not.
highly doubt, the whole thing about the success of the US west coast is that they are&were willing to fund unproven upstarts.
The point being that, as soon as public dollars are on the table, people expect perfection. Anything less is waste, fraud, and abuse.
There's literally no winning. Want to make sure the money is allocated right? Bureaucracy. Want to not do that? Waste, fraud, and abuse.
Except that Apple, Intel, Tesla, etc have all received US government investment [1]. TSMC is a product of the Taiwanese state! Government investment can be done well, and seeds excellent companies.
[1]: https://www.sba.gov/blog/2024/2024-02/white-house-sba-announ...
The comment you're replying to is tainted with the survivorship bias. We see successful companies that got government funding, but not the opposite. Maybe we'd have more innovation and competition without government picking these specific winners.
Ironically, one of the companies you mentioned (Apple) now operates in an environment with very little competition and regularly faces antitrust claims.
Government picking winners may actually reduce competition in the long run. The key difference: when private money picks wrong, it's their loss. When government picks wrong, it's taxpayer money.
https://www.politico.eu/article/ombudsman-slams-commission-f...
The probability of getting a Horizon Europe grant allegedly (not official stats) is about 8.5% according to some friends, which may seem low. You need to write 70 pages following a Word template and the key goal is to cover answers to a large number of questions. Each proposal gets various grades across a range of dimensions, which get added up and if you obtain at least 13 out of a possible 15 points, you are eligible to get funded, read: "You will get funded if there is enough money." Often, there are several proposals that justly achieve 15/15, and because of that, many prosals that have 14 points and all proposals that have less may not get funded, simply because there just is not enough total funding available to fund all the technically eligible proposals. Having judged many proposals in AI / ML / search / "big data" / language technology etc. I recommend optimizing recall, i.e. aspiring completeness.
The application process is not easy, but you can get help: there are support agency in each member country, free online Webinars to help, hotline help desks as well as an ecosystem of paid consultants that typically charge about 3k€ to vet a proposal for you if you need that kind of service (I never used it).
The process is neutral and conducted professionally and with external oversight (consultants are hired as "rapporteurs" that report on process/procedural integrity in additional to the actual reviewers). I value the research officers of the EC as people of high competency, integrity and motivation (research money is tax payers money so it should be spent carefully).
In comparison, VC (and even more so business angel) funding is achievable with much less formal apparatus, often a short business plan and a convincing slide deck and demo can get people to a partner meeting if the time is right. But the criteria and process are much different, and ideas ready for public research grants are typically too early for VCs (but the EC wants to foster the creation VC-funded startups resulting from the disseminated research).
> The EIC welcomes applications from innovators in all EU Member States and countries associated to the Horizon Europe programme. It particularly welcomes applications from startups and SMEs with female CEOs.
So that's one that strongly pushes that angle. But the one I saw I clearly remember saying "female co-founder", not CEO.
Yes, some of the questions are weird, but I'd really rather write a bit confirming that the AI system being developed isn't going to be racist or Skynet than jump through some other hoops that exist (and that absolutely includes VC due diligence). The actual biggest issue with European funds is they get way more competent applications than they can fund anyway.