Schmidt Futures

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LLM Summary:Schmidt Futures is a major philanthropic initiative founded by Eric Schmidt that has committed substantial funding to AI safety research ($135M across AI2050 and AI Safety Science programs) while also supporting talent development and scientific research across multiple domains. The organization has faced some ethical controversies around government influence but represents a significant funding source for AI safety work, though its long-term impact remains to be determined.

Critical Insights (5):

Quant.Schmidt Futures has committed $135 million specifically to AI safety research through AI2050 ($125M) and AI Safety Science ($10M) programs, making it one of the largest non-corporate funders in this space.S:3.0I:3.5A:3.0
NeglectedThe organization's AI Safety Science program addresses what it describes as significant underfunding by providing not just grants up to $500K but also computational resources from CAIS and OpenAI API access.S:2.5I:3.0A:3.5
Counterint.Schmidt Futures faced significant ethics concerns in 2022 for indirectly paying salaries of White House science office employees, with the general counsel filing a whistleblower complaint about conflicts of interest.S:3.5I:3.0A:2.0

Quick Assessment

Dimension	Assessment
Type	Philanthropic initiative
Founded	2017
Founders	Eric Schmidt (former Google CEO) and Wendy Schmidt
Structure	For-profit initiative (Futures Action Network LLC) funded by 501(c)(3) foundation
Focus Areas	Talent development, AI, advanced computing, biosciences, climate, astrophysics
Major Programs	Schmidt Science Fellows, Rise Challenge, AI2050, Schmidt Sciences
Notable Funding	$1 billion commitment to talent programs, $125 million for AI2050, $10 million for AI safety
Headquarters	New York City (with offices in Washington D.C. and London)

Key Links

Source	Link
Official Website	schmidtfutures.org
Wikipedia	en.wikipedia.org
EA Forum	forum.effectivealtruism.org

Overview

Schmidt Futures is a philanthropic initiative founded by former Google CEO Eric Schmidt and his wife Wendy Schmidt in 2017. Operating through a for-profit structure (Futures Action Network LLC) while being funded by the Eric and Wendy Schmidt Fund for Strategic Innovation (a 501(c)(3) private foundation), it functions as a “venture facility for public benefit” rather than a traditional standalone nonprofit.¹²

The organization’s core mission is to “bet early on exceptional people making the world better” by identifying talented individuals, building networks, fostering collaboration, and providing resources to scale ideas addressing challenges in science, technology, and society.³⁴ Schmidt Futures emphasizes that the talent market is “broken” and seeks to create new pipelines for visionaries through diverse tools including gifts, grants, investments, and startup activities.⁵

With headquarters in New York City and offices in Washington D.C. and London, Schmidt Futures operates across multiple domains including AI, advanced computing, synthetic biology, astrophysics, biosciences, and climate systems. In 2024, the organization launched Schmidt Sciences to consolidate and expand its science research efforts in high-impact areas.⁶

History

Founding and Early Years

Schmidt Futures was established in 2017 by Eric Schmidt, who had recently stepped down as Alphabet’s executive chairman, and his wife Wendy Schmidt.⁷⁸ The initiative emerged from Eric Schmidt’s longstanding interest in science policy and talent development, building on his experience at Google and subsequent involvement in government advisory roles.

The organization’s founding mission centered on addressing what the Schmidts viewed as systemic failures in identifying and supporting exceptional talent. Rather than focusing solely on established researchers or institutions, Schmidt Futures aimed to identify promising individuals early in their careers and provide them with resources, networks, and opportunities to pursue ambitious projects.⁹

Major Milestones

In 2018, Schmidt Futures launched the Schmidt Science Fellows program, which provides postdoctoral fellowships for early-career researchers to pursue interdisciplinary work.¹⁰ Dr. Elizabeth Kiss was appointed to lead the program’s development in partnership with the Rhodes Trust.

A defining moment came in 2019 when Eric and Wendy Schmidt committed $1 billion to scholarships, mentorship, and support for exceptionally talented youth.¹¹ This massive commitment anchored the Rise program (developed with the Rhodes Trust), which targets young people aged 15-17 globally with lifetime support including residential summits, four-year higher education scholarships covering tuition and stipends, competitive idea funding, and network access.¹²

The year 2022 saw the launch of AI2050, a $125 million program over five years focused on solving AI “hard problems” including safety and alignment.¹³ Inaugural fellows included prominent AI safety researcher Stuart Russell, who works on probabilistic programming for AI interpretability, provable safety, and performance.¹⁴

In 2024, Schmidt Futures evolved its science efforts by launching Schmidt Sciences, led by Chief Scientist Stuart Feldman. This new entity consolidates work in AI/advanced computing, astrophysics/space, biosciences, and climate/science systems, with an emphasis on “bold science” and revolutionary research.¹⁵¹⁶

Recent Developments

Early 2025 marked another significant expansion with the announcement of a $10 million AI Safety Science program supporting 27 projects on foundational AI safety research.¹⁷¹⁸ The program addresses gaps in funding and academic access to frontier models, providing computational support from the Center for AI Safety and OpenAI API access to researchers developing robust benchmarks and evaluations for advanced AI systems.

The 2025 Schmidt Science Fellows cohort included 32 early-career researchers from 15 nationalities (including first-time fellows from Jordan and UAE) and 27 universities, working on topics ranging from cancer treatment and quantum technology to octopus cognition and smart blood vessels.¹⁹

Organizational Structure and Operations

Legal and Financial Structure

Unlike traditional philanthropic foundations, Schmidt Futures operates through an unusual legal structure. It functions as an initiative under Futures Action Network LLC, a for-profit entity, while receiving funding from the Eric and Wendy Schmidt Fund for Strategic Innovation, a 501(c)(3) private foundation.²⁰ This hybrid structure allows the organization to engage in diverse activities including making grants to nonprofits, investing in for-profit companies, and launching startup ventures—all aligned with its public benefit mission.

This flexibility enables Schmidt Futures to deploy what it calls “diverse types of capital” across different contexts. The organization can provide traditional philanthropic grants alongside equity investments, loan facilities, and operational support to launch new entities. This approach reflects Eric Schmidt’s background in technology and venture capital, applying business-oriented thinking to social impact work.²¹

Leadership and Key Personnel

Eric and Wendy Schmidt serve as co-founders and primary funders. Stuart Feldman holds multiple leadership roles as chief scientist of Schmidt Futures, co-CEO, and president of Schmidt Sciences, where he emphasizes building the foundation for AI safety science and responsible AI development.²²²³

Other key leaders include Thomas Kalil as chief innovation officer, and senior advisors James Manyika and Fareed Zakaria.²⁴ Program-specific leadership includes Megan Kenna as Executive Director of Schmidt Science Fellows, who oversees fellow selection and leadership training,²⁵ and Michael Belinsky as Director of the AI and Advanced Computing Institute, leading the AI Safety Science program.²⁶²⁷

Wanjiru Kamau-Rutenberg serves as Executive Director of Rise, managing the global talent program that represents Schmidt Futures’ largest single funding commitment.²⁸

Major Programs and Initiatives

Talent Development Programs

Schmidt Science Fellows represents one of Schmidt Futures’ flagship efforts, providing postdoctoral fellowships for early-career researchers to pivot into new disciplines. The 2024 cohort included 32 researchers from 17 nationalities and 26 institutions, studying topics like intelligent materials, fake news algorithms, gut bacteria, and climate mitigation. First-time participating institutions included A*STAR (Singapore), Nanyang Technological University (Singapore), Max Planck (Germany), and University of Hong Kong.²⁹³⁰

The program provides up to two years of funding alongside leadership training, explicitly encouraging fellows to pursue interdisciplinary research that crosses traditional academic boundaries. By 2021, the program had supported 84 fellows from 28 nationalities, resulting in 13 new patents in science and medicine.³¹

Rise Challenge, developed in partnership with the Rhodes Trust, targets exceptionally talented young people aged 15-17 globally. Backed by the Schmidts’ $1 billion commitment announced in 2019, Rise provides lifetime support for selected individuals including residential summits, four-year scholarships covering tuition and stipends, competitive funding for entrepreneurial ideas, tech packages with laptops and tablets, and ongoing network access.³²³³ The 2023 cohort recognized 100 Rise Global Winners with partners including Amideast and the Rhodes Trust.³⁴

Quad Fellowship supports scientists and technologists from Australia, India, Japan, and the United States, fostering international collaboration in STEM fields.³⁵

Associate Product Manager Program, modeled on Google’s influential APM program, trains early-career professionals in product management.³⁶

Entrepreneur in Residence and Innovation Fellows programs support entrepreneurs building ventures aligned with Schmidt Futures’ mission. One highlighted example is Kuljot, a graduate of MIT and Cornell University with prior roles at Amazon Web Services (Head of Product, processing over $5 billion in revenue) and Mastercard (Digital Payments in Hong Kong), who worked on B2B small business tools.³⁷

Science and Technology Programs

Schmidt Sciences, launched in 2024, consolidates the organization’s scientific research efforts across five priority areas: AI and advanced computing, astrophysics and space, biosciences, climate and science systems, and foundational science systems.³⁸ The initiative funds ambitious, high-risk research that may struggle to secure traditional funding.

Virtual Institutes create distributed research networks focused on specific challenges:

Virtual Earth System Research Institute (VESRI) develops machine learning approaches for climate modeling through the M2LInES (Multiscale Machine Learning In Coupled Earth System Modeling) project, which uses ML to improve climate projections, reduce model errors, and accelerate Bayesian learning in climate models.³⁹⁴⁰
Virtual Institute for Astrophysics (VIA) develops software for analyzing large astronomical datasets from projects like LSST. Recent publications include work on denoising stellar spectra and the Cryoscope Pathfinder.⁴¹⁴²
Virtual Institute for Scientific Software (VISS) creates centers for professional-grade scientific software development with ML expertise.⁴³
Virtual Institute on Feedstocks of the Future (VIFF) focuses on biosciences applications led by MIT’s Gregory Stephanopoulos, Willard Henry Dow Professor of Chemical Engineering.⁴⁴

Convergent Research advances work in microbiology, synthetic biology, climate solutions, and antibiotic development.⁴⁵

In July 2024, Schmidt Futures invested $47.3 million across five grants for biomass projects aimed at replacing fossil fuel feedstocks and building a circular bioeconomy, including efforts to repurpose harmful seaweed species.⁴⁶

AI Safety and Ethics Initiatives

AI2050, launched in February 2022, represents a $125 million commitment over five years to address AI’s “hard problems” including safety, alignment, and beneficial use by 2050.⁴⁷⁴⁸ The program, co-chaired by Eric Schmidt and James Manyika, supports fellows working on foundational questions about ensuring AI systems remain aligned with human values and controllable as they grow more capable.

Inaugural fellows included Stuart Russell of UC Berkeley, a prominent AI safety researcher working on probabilistic programming for AI interpretability and provable safety.⁴⁹ The 2024 cohort included five MIT faculty and two alumni focusing on various aspects of beneficial AI development.⁵⁰

In February 2025, Schmidt Sciences launched a $10 million AI Safety Science program supporting 27 projects on foundational AI safety research.⁵¹⁵² Led by Michael Belinsky, the program addresses what organizers describe as significant underfunding of AI safety research by philanthropy, government, and AI labs themselves.⁵³⁵⁴

The program provides grants up to $500,000 each, along with computational support from the Center for AI Safety and OpenAI API access for research requiring frontier model testing.⁵⁵ Funded projects include work by University of Illinois professor Daniel Kang on AI agent cybersecurity attack benchmarks, specifically examining risks like AI systems escaping laboratory control and self-replication.⁵⁶⁵⁷ Professor Bo Li, also at Illinois, received funding for developing virtual environments with red teaming algorithms to evaluate appropriate access levels for AI systems.⁵⁸

Eric Schmidt has publicly emphasized AI safety concerns, co-authoring a Wall Street Journal op-ed on AI safety protocols and supporting research into safeguards against AI systems contradicting human values.⁵⁹

Schmidt Futures extends beyond science and technology into broader social challenges. The organization supported COVID-19 relief efforts, provided aid to Afghan and Ukrainian emigrants through programs like the Afghan Future Fund (with Yalda Hakim Foundation) and Ukraine Relief Fund, and works on expanding high-speed internet access through initiatives like Reimagine New York.⁶⁰⁶¹

The Families and Workers Fund, co-chaired with the Ford Foundation, focuses on strengthening social safety nets, refugee support, and small business development.⁶² Schmidt Futures has also funded poverty relief efforts and programs aimed at middle-class economic growth.⁶³

The Reimagine Challenge, launched in August 2020 with a $1 billion commitment, solicited student ideas for addressing COVID-19 vulnerabilities. After rounds closing in September and November 2020, 20 winners were selected from 838 submissions.⁶⁴ The organization has also developed learning engineering tools through the Futures Forum on Learning and supported initiatives for increased broadband platform coverage across 50 states and 16 territories.⁶⁵⁶⁶

Connections to Effective Altruism

While Schmidt Futures operates independently of the effective altruism movement, it has funded several organizations and projects associated with EA principles and communities. These include the Lead Exposure Elimination Project, Institute for Progress, 1Day Sooner, and Metaculus—all organizations that apply systematic, evidence-based approaches to large-scale problems.⁶⁷

The overlap reflects shared interest in using rigorous analysis to identify high-impact interventions and a willingness to fund unconventional approaches to important problems. However, Schmidt Futures maintains a broader focus than typical EA organizations, emphasizing talent development and network building alongside specific cause areas.

Notable Outcomes and Impacts

The 2021 Schmidt Futures fact sheet highlighted several quantifiable impacts across its portfolio:⁶⁸

Development of COVID tests costing less than $1 each
Data reforms enabling 7,000+ additional organ transplants per year
Foster care recruitment pilot reaching 32,000 children
AI-powered screening of 10,000+ proteins for potential cancer targets in cellular condensates (work by biomedical engineer Shriya Srinivasan)
Accelerated Bayesian learning in climate models through machine learning integration

Schmidt Science Fellows have produced 13 new patents in science and medicine and published research in high-impact venues including NeurIPS and PNAS.⁶⁹ One fellow, Peter Ren, developed work combining machine learning with nano-3D printing to create strong, lightweight materials with potential aerospace and defense applications, publishing in Advanced Materials.⁷⁰

The organization’s climate work includes the Virtual Institute for Carbon Cycle (VICC), which aims to reduce global carbon budget uncertainty from 1 GT CO₂/year to 0.1 GT through improved measurement and modeling.⁷¹

By 2021, the broadband access work had reached infrastructure covering 50 states and 16 territories, while social safety net projects supported systems serving millions of Americans.⁷²

Criticisms and Controversies

Government Ethics Concerns

Schmidt Futures faced significant criticism in 2022 regarding its involvement with the Biden administration’s White House Office of Science and Technology Policy (OSTP). The controversy centered on Schmidt Futures indirectly paying salaries for OSTP employees, including six weeks of salary for chief of staff Marc Aidinoff, raising what internal officials described as “significant” ethical concerns due to Eric Schmidt’s financial interests overlapping with OSTP’s responsibilities.⁷³

OSTP general counsel Rachel Wallace raised alarms in internal emails about “a large number of staff with financial connections to Schmidt Futures” and their potential influence on government policy. She filed a whistleblower complaint in March 2022 through the Government Accountability Project.⁷⁴ Legal analyst Min Hee Kim flagged Schmidt Futures fellowships covering travel and expenses as posing “very significant conflict of interest” issues, leading two employees to withdraw from the arrangements.⁷⁵

Norm Eisen, former Obama White House ethics chief, noted the problematic appearance of “outside actors… unduly shaping [government] policy,” questioning whether philanthropic funding of government roles created inappropriate influence channels.⁷⁶

Schmidt Futures defended its involvement by stating its staff had “no authority to make any policy decisions” through OSTP, with OSTP retaining full discretion over hires and policies.⁷⁷ However, critics on Hacker News and elsewhere characterized this as “misdirection,” arguing the issue was indirect influence rather than formal authority.⁷⁸ Some observers viewed the concerns as representing “a new ethical question” arising from government office structure, while noting limited evidence of actual misconduct compared to broader political issues.⁷⁹

Elitism Concerns

Critics have argued that Schmidt Futures’ strategy of “betting on exceptional people” promotes elitism by focusing resources on individuals identified as exceptional rather than supporting broader systemic improvements.⁸⁰ The focus on identifying and supporting “exceptional” talent early in life—particularly through programs like Rise targeting teenagers—may exclude or undervalue those who don’t fit traditional definitions of exceptionalism or who develop their potential later in life.

This criticism persists despite Schmidt Futures’ stated commitments to diversity and inclusion, with the 2025 Schmidt Science Fellows including first-time fellows from Jordan and UAE and the Rise program operating globally with numerous international partners.⁸¹

Eric Schmidt’s Broader Controversies

In September 2022, a Special Competitive Studies Project (SCSP) report drew criticism due to Eric Schmidt’s apparent conflicting interests between his role shaping the report and his private investments.⁸² Ethics expert John Pelissero emphasized the importance of disclosing private financial interests when influencing policy to ensure public interest remains prioritized over personal benefit.⁸³

As of mid-2024, insiders reported to Puck what they described as a “drip, drip, drip of news” from Schmidt Futures, prompting questions about the organization’s internal dynamics amid political and philanthropic scrutiny, though no specific new controversies were detailed.⁸⁴

Structural Transparency Questions

The organization’s unusual legal structure—operating as a for-profit initiative (Futures Action Network LLC) funded by a 501(c)(3) foundation—has prompted questions about transparency and accountability.⁸⁵ Some observers note discrepancies in how Schmidt Futures describes itself (as a “philanthropy initiative”) versus how others characterize it (Bloomberg has called it a “venture capital firm”), highlighting ambiguity about its fundamental nature.⁸⁶

The blending of philanthropic grants, for-profit investments, and startup creation under one umbrella, while providing operational flexibility, makes it more difficult for outside observers to understand funding flows, investment returns, and how decisions are made about deploying resources.

Key Uncertainties

Several important questions remain about Schmidt Futures’ long-term trajectory and impact:

Impact Measurement: How effective is the “bet on exceptional people” model compared to other philanthropic approaches? While Schmidt Futures tracks specific outputs like patents, publications, and program participants, the counterfactual impact—what these individuals would have achieved without support—remains difficult to assess.

Talent Identification: Can programs like Rise and Schmidt Science Fellows actually identify the most impactful future scientists and leaders at early career stages? The success of these programs depends on the organization’s ability to predict long-term potential, which may be limited by various biases and the inherent unpredictability of career trajectories.

Sustainability and Succession: As a relatively young organization heavily identified with its founders, how will Schmidt Futures evolve as Eric and Wendy Schmidt’s direct involvement potentially decreases over time? The for-profit structure may provide more flexibility for succession than traditional foundations, but also creates uncertainty.

Scale and Leverage: Given the massive challenges in AI safety, climate change, and other focus areas, can a single philanthropic initiative—even with billions in committed funding—achieve meaningful leverage? The organization’s network-building approach assumes multiplicative effects, but these remain difficult to quantify.

Political and Ethical Boundaries: Following the 2022 OSTP controversy, what boundaries should govern Schmidt Futures’ involvement in government policy? The organization appears to have pulled back from direct government engagement, but the appropriate role for large philanthropic initiatives in shaping public policy remains contested.

AI Safety Contributions: Will the $10 million AI Safety Science program and $125 million AI2050 initiative produce research that meaningfully reduces AI risks? These programs represent significant funding, but remain modest compared to AI development budgets at major labs, raising questions about their ability to influence the trajectory of AI development.