While I agree with most of this (and have upvoted) two points stand out:
Also, are you familiar with growth versus static models of intelligence
I don't think bringing this up helps your point very much. While there are individuals whose apparent extreme talent blooms fairly late (e.g. Steven Chu who didn't really start being that impressive until he was in college), the lack of change of IQ scores over time on average is very robust, dating back to Spearman's original research about a hundred years ago. This is also true for other metrics of intelligence. By and large, intelligence is pretty static.
University professors don't tell students they are too stupid to contribute to the problems they are trying to solve
This is true, but professors do sometimes tell students when a problem may just be out of their league. To use an extreme example, consider a grad student who walks into his adviser's office and says he wants to prove the Riemann Hypothesis. That said, your essential point is valid, because even in that case, a professor could still direct them to some easier related problem or helpful question related to some aspect of it. So your basic point is valid.
Intelligence seems relatively static, but AFAIK once you've reached a certain minimum threshold in intelligence, conscientiousness becomes a more important factor for actual accomplishment. (Anecdotally and intuitively, conscientiousness seems more amenable to change, but I don't know if the psychological evidence supports that.)
Series: How to Purchase AI Risk Reduction
Here is yet another way to purchase AI risk reduction...
Much of the work needed for Friendly AI and improved algorithmic decision theories requires researchers to invent new math. That's why the Singularity Institute's recruiting efforts have been aimed a talent in math and computer science. Specifically, we're looking for young talent in math and compsci, because young talent is (1) more open to considering radical ideas like AI risk, (2) not yet entrenched in careers and status games, and (3) better at inventing new math (due to cognitive decline with age).
So how can the Singularity Institute reach out to young math/compsci talent? Perhaps surprisingly, Harry Potter and the Methods of Rationality is one of the best tools we have for this. It is read by a surprisingly large proportion of people in math and CS departments. Here are some other projects we have in the works:
Here are some things we could be doing if we had sufficient funding: