You might want to do a deep dive into the concept of "real options", there's a good deal written about the concept and it's basically what you're describing. It's a very interesting way to look at life in general and I've found it very useful. I am curious about the specific program you're citing. What is it called? (I'm not an EU citizen so don't worry, I won't be competing with you!).
Each country has their own programs financed from the overall EU budget and there are usually several such programs. Here's the one I applied for: http://startup.prois-nv.ro I wouldn't worry even if you were a citizen, actually I've advertized the programs to my friends but enthusiasm is low, the money are very frugal: 40k EUR and you gotta keep two full time employees for 18 months (1.5 years). For IT, that's ridiculous compared to industry wages but then again, this is not a job but sponsoring a business. So it's only for the truly motivated (and likely having some savings of their own to invest), otherwise stick with the cozy corporate job.
A fool and his money are soon parted. I can’t even wish you luck, as you are pretty transparently a scammer. But who knows, people are stupid, and that’s what you’re fishing for.
Free money! Free money! Just pm me for details. Can’t lose. 110%, no scratch that, 125% sure I’ll be oversubscribed so make sure to get in on this!
To be fair any equity investment in a startup is essentially "free money" for the founders. I got a substantial amount of money from VCs for my first startup without providing any personal guarantees and if I'd burned through it all and shut down at the end we would have shook hands and departed friends, potentially they may have even invested in me again. Granted there were a number of controls they had and a board seat to ensure we were working diligently toward the goal we sold them on, but it was really a free call option for me since I got a good salary and still owned most of the company so got most of the upside when it went well with pretty much none of the downside. This is the typical startup model, certainly not unique to me, and is similar to the program the OP posted a link to if you can read Romanian or Google translate.
Sig- I’m an angel investor in 2 startups. They guarantee me nothing, and I have no expectation of getting anything back. This is far from an arbitrage. He's not offering founder positions to anyone for free. Oh, so the check is in the mail. 110%. Great! What could possibly go wrong?
The OP isn't trying to recruit you to a scheme. He is essentially a founder, and someone like you (an investor) is giving him free money that he could either leverage into more money or use, i.e. he's not going to lose money and could make money. The word "arbitrage" isn't a good description of the situation, but it is essentially a free call option for him. He's just asking what would be a good way to leverage this to make money. Perhaps it's dumb money, government's trying to be angel investors often are, but it's apparently out there and he's getting it legally and it will have zero impact on you unless you're a Romania taxpayer, so not sure what the hostility is about?
“How can I make this an arbitrage for external investors likeyou?” “And I actually got a Californian VC interested in my venture although they were shy in actually letting loose actual money investment.” Da fuck he’s not