As a researcher, I've run the numbers on what it would take to start a new nonprofit research institute. Assuming some other sources of revenue (e.g. grants),

As a researcher, I've run the numbers on what it would take to start a new nonprofit research institute. Assuming some other sources of revenue (e.g. grants), 10M was actually the sweet spot to get a minimum sustainable group off the ground (about 5 PIs, with postdocs and grad students). This is for math/cs/physics theory, where there are no experimental costs. The IP stance is surprising -- for an independent group, it is tough to give up on a potential source of revenue. Seems like YC itself provides a way to monetize the ideas, though, since some of them will likely feed into the VC side and help the companies.