This project is to further develop and extend the Open Source Numba project: [url removed, login to view]
Numba seeks to translate Python functions (via bytecode) to LLVM IR that can be used to create function-pointers either for direct use on NumPy arrays or as low-level call-backs to be inserted into the NumPy and SciPy run-times.
Currently, there is Proof of Concept code on github that needs to be extended. I estimate the effort involved is 2 months for a good developer. But, someone with the right motivation and experience could do amazing things in 6 months which would be welcome.
You must have some compiler experience and experience with Python. Experience with LLVM is a bonus, but you can learn LLVM while doing the project.