As long as we keep bickering at people for proposing a plan and private funding, we'll get nowhere at all. Why not just ignore what you won't invest in and let him do it?
The risk is his to take.
It's a private proposal, so why not have him give it a go?
Giving it a go

It's not like I could force him not to waste $7500 on reinventing the wheel even if I wanted to.