I considered creating a startup. But I don't think there is a realistic market for such a thing. That's not to say that it isn't useful, but I don't see any viable way to market it.
Open source is fine, but creating an open source project is not the same as giving away an algorithm for someone else to use in their own project. If I get around to building a proof of concept, it can go on Github where the originator of the system can be verified and credit can be given. If someone wants to dedicate their spare time on this project, and only this project, and if we work well together, then we can get it done even faster.
Regarding the requirement for experienced developers. I've been in the industry for 15 years, and have interviewed a lot of candidates for jobs and worked with all shapes and sizes of developers. You just don't get ahead in ambitious projects by having your core team consist of people that you have to babysit. I spend most of my day job lately cleaning up bad code left over from a developer whom my former boss allowed free reign on the project. Five bad developers can be worse than one good one, often even producing a net negative utility.
A core team of relatively experienced developers should co-found an ambitious open source project. If it's a simpler project, you only need one person with plenty of spare time. Once a good team cohesion is established, with the members having a good understanding of the goals of the project and the code base, then the volunteer developers can start contributing, and those contributions can be integrated into the repository in a sane and supervised manner. Having a swarm of newbie developers as "the team", on the other hand, brings all sorts of problems that you don't want.
I would rather wait until it can be done right than risk doing it wrong and not having a second chance.