There are other places to start working on the stack which is not as actively hostile as place and route, e.g. simulation.
As for the incentive I'm fairly pessimistic. There is definitely no money to be made for a start-up in this space, it is way too conservative. Maybe the hobbyist intellectual challenge of working on some hard problems like constraint solving or formal property proving? There is a massive task of writing a SystemVerilog parser before you get there though and the SAT solving and property proving problems are present elsewhere with lowers barriers to entry.
Challenges can be stimulating, but there are diminishing returns. It's not like say, lockpicking or DRM-cracking, in that the subject matter is super hard to begin with, even without the proprietary sabotage.
Having said that, there has been some promising F/OSS work on the small Lattice devices. It allows for a decent, modern workflow, and it's possible because the devices are approachable, but also because Lattice hasn't been hostile. Why they haven't been more supportive is a mystery to me however.
As for the incentive I'm fairly pessimistic. There is definitely no money to be made for a start-up in this space, it is way too conservative. Maybe the hobbyist intellectual challenge of working on some hard problems like constraint solving or formal property proving? There is a massive task of writing a SystemVerilog parser before you get there though and the SAT solving and property proving problems are present elsewhere with lowers barriers to entry.