Emergent Ventures is a fast, rolling grant program by Tyler Cowen and the Mercatus Center that funds high-impact, unconventional individuals and projects, with a special tranche co-funded by Eric Schmidt to identify and foster AI researchers. It exists to support risk-taking, contrarian thinkers who have promising ideas but lack traditional institutional backing, aiming to generate outsized social and economic returns.

- No formal eligibility restrictions; open to individuals worldwide, including non-traditional researchers and entrepreneurs. - Emphasis on high expected value, intellectual ambition, and potential for transformative impact. - Preference for contrarian, independent, and self-directed applicants who pursue novel approaches. - For the AI tranche, focus on AI researchers, but not limited to safety; capability research also considered. - Rolling applications, quick decisions, and minimal bureaucracy; no lengthy forms or strict deadlines. - Grants are typically small ($5K-$100K) and can be used flexibly (e.g., research, travel, equipment, living expenses). - Reviewers look for evidence of initiative, past output, and a clear plan for how the grant will accelerate progress.

Past winners include a diverse mix of young researchers, entrepreneurs, and writers, often with unconventional backgrounds. Examples include AI safety researchers, biotech innovators, and policy entrepreneurs. The program explicitly seeks 'underrated' and 'high-variance' individuals, so winners often have a track record of independent projects, preprints, or startups rather than traditional academic credentials.

The platonic ideal applicant is a brilliant, self-starting individual with a bold, high-impact idea that is too risky or unconventional for traditional funding. They are likely early-career, have demonstrated initiative through independent research or ventures, and can articulate a clear, ambitious plan that the grant would unlock. They are contrarian, intellectually curious, and not afraid to challenge orthodoxy.