Step 1 isn't getting the money. Step 1 is getting trustworthy people together.
Here's what happens to your program. You get someone to administer "gifted" tests. All their friends and family are suddenly "gifted". They cheat or bribe their way into staying in the program. They then take the "education" they got and go work somewhere with your impressive-looking credentials.
Then your reputation tanks as employers find out that you're yet another foreign school which churns out impressive-looking credentials that do not reliably signal ability.
Note that my second paragraph is a big big part of why some schools and countries have a much easier time getting employed in the US than others.
Thus spake Eliezer:
It seems that many here might have outlandish ideas for ways of improving our lives. For instance, a recent post advocated installing really bright lights as a way to boost alertness and productivity. We should not adopt such hacks into our dogma until we're pretty sure they work; however, one way of knowing whether a crazy idea works is to try implementing it, and you may have more ideas than you're planning to implement.
So: please post all such lifehack ideas! Even if you haven't tried them, even if they seem unlikely to work. Post them separately, unless some other way would be more appropriate. If you've tried some idea and it hasn't worked, it would be useful to post that too.