I took the Fediversity project as an example because it was mentioned above in the comment and not an example of something I wanted to specifically point it. Truth to be told 90% of other EU funds are similar if not the same in the context of grants, and no, I don't find it sufficient, and no, I don't think such strategy will yield anything worth the salt. You will keep the developers have fun with their projects but something worthwhile? Forget. It doesn't exist at such minuscule scale.

The only bigger denominator in terms of funds is Horizon which is completely political, and not worth mentioning at all, if that's what you wanted to suggest. It also operates under minuscule scale in terms of grants (up to 2.5M over 2 years) or funding (1-30M). No possibility for seed rounds which implies you already must be in the business and already have an almost viable product ready to deploy to the market tomorrow (EU bureaucracy calls it TRL6-8). This is all ridiculous and shows how detached from reality people making decisions there are. They even hire "experts" to weigh your application for which you know ... ta-da ... have to hire yet another "expert" to write that application for you. 100s of pages to prove your idea worthy. Once a year. World innovation runs at much much higher pace.

So, sure the R&D environment in EU is built on a very fertile ground and Brussels is doing their best to "call for an evidence" because open-source software is going to save the economy??? Right.