Plenty of languages have been developed without major corporate backing (especially in the beginning). Off the top of my head, elm, elixir, Haskell, ML, ruby, python, coffeescript, purescript, Idris, Agda, pony and I’m sure many others were developed at least initially by hobbyists and/or academics.
I honestly don’t know a whole lot about Eve. Maybe it was too large in scope to be a side project or fully volunteer-driven. But, even if that’s the case, that’s one of the main things academia is for; perhaps Chris should go for a PhD instead of a startup. I’m sure there are plenty of schools which would give him ample time and resources to work on it for research.