European funding available for interesting development projects

I don't know anything about this one in particular but in a too long time ago I participated in some projects funded by the European commission. There can be a fair amount of bureaucracy involved, especially for the initial, submission and selection phase. This effort is obviously lost when you're not selected - for instance because you lost to some relatively similar project except the other project has people experienced with the submission process itself and you don't. Well, now you have more submission experience and materials for next time but...

tl;dr: do not assume the best idea and a good sales pitch is all it takes. Try to get help from someone who knows something about NGI POINTER whatever that is. European universities desperate for funding tend to have this sort of skill.

There are also evaluation phases but funny enough it's generally too late, they can't really ask for the money back. In the very worst case they'll turn off the tap if they still can and maybe try to tarnish your reputation a bit if you really failed totally.

PS: in a different, cultural domain a friend in a very small non-profit told me once half-jokingly that he spends almost as much time drafting proposals and submitting them as doing actual work.