I don't think VC system is good, but I'm tired of going in to EU calls to only see there's actually no money for start-ups but it's often earmarked to keep big EU companies afloat and competitive. This is in itself not a bad thing, pretty much everyone does it (US military industrial complex for example). So I accepted these as money injection to big business rather than expecting it to tickle down to small businesses or start-ups.

On start-up funding we have a systematic issue of European wealth going to US for investment and EU start-ups going to US to find investment. These EU money injections doesn't solve it imho.