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Personally I'm rather happy that the allocation was not too large at first, even that is quite a sizeable sum. The EU is great at kickstarting projects that sound like a panacea, but end up not leading to anything. Once they have something to show, by all means, throw more money at them.

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The trap that these EU projects typically fall into is that they burn all of the grant funding on paying politically connected consultants to write reports. No one gets around to building an MVP.

I thought that was the point?

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