The project is at the planning stage, so it doesn't really require that much money. The big money will need to come when things move to the construction stage.
Their idea is not to create a utopia, but to create a situation where forms of government can compete. (With self government being a primary form to explore.) Imagine each of these is like a condo and there's a consensual government.
The key guy at the institute is Patri Friedman who is the son of David Friedman. David Friedman is an economist and the author of The Machinery of Freedom which explores how to promote and defend liberty while having little to now government. David Friedmans' father is Milton Friedman.
This effort, far more than anything else, is the one that gives me hope for liberty in my lifetime.