Correct. The government has a spending target, let's say 56% of GDP (that is taxes, how much you can borrow from creditors, and how much money printing you can afford).
Then they divide that money in categories, and it turns out IT industrial policy got allocated that much money, which they divide into projects.
In this project, they build a comittee, which decides the best is to subsidise cool sounding initiatives by well connected, politically correct groups.
Top to bottom government spending that goes wasted in politically connected groups that give nothing back to society.
Why do governments feel compelled to constantly intervene in businesses?
What market failure (apparently unique to Germany) are they fixing?
Edit:
I have like 4 different responses. 1) Open source is a human right, 2) security is a mess, 3) China has proven an invasive industrial policy can be successful, and 4) Government intervention is important to prevent wealth imbalances
So my conclusion given the lack of consensus is that this fund is totally pointless.
20k of GDP per capita means in any year of your life, even after 65.
People migrate to the US before the EU. Besides, US lifestyle (also a high tax country btw) is not the only possible alternative to european style quasi socialism (56% on the way there)
It's quite off-puting branding, playing with the flag of a bureaucratic institution like the EU.
If it was about what Europeans create, I would be receptive. Instead, they are promoting whatever is in the European Commission agenda, which is radically different to what I need.
Is 15k extra per year an effective boost to happiness?
Is 15k enough to keep working for Big Brother, in a job with very limited freedom, professionally and socially
Is 15k enough to keep working in a company that keeps users addicted to unhealthy behaviors?