The application process is pretty easy. I applied a couple of years ago. I did take it seriously, but I probably should have put more time and effort into my message and presentation.
What I don't really get about NLNet is their page titles are all about the Public Nature of the Internet, but the granted projects are all over the place. Not a bad thing, and being overly vague is a necessity to not push projects a certain way, but it hinders clearer communication, I think.
Yes, I checked it out afterwards, seems like a decent program. My comment was more about EU investing in OSS large scale. I've seen how EU projects get awarded and I doubt anything of value will come out of that, especially once cost is accounted for.