This is a good idea for 5-10 contenders; leave the option to contribute exclusively to the family fund.
And in general, I think that to attract more players to commercial Tournaments, we need to come up with a system where players can get at least their money back.
Let's say the Tournament is held in an Olympic-style format with 64 players (the most popular format right now). Each participant pays an entry fee (BI). After passing 2 rounds, they have the opportunity to double it, and even further – to increase it. That is, with 64 participants, there will be 16 prize-winning places. Here is an example of a simple structure (without taking into account the rake):
1st place: 12 BI
2nd place: 8 BI
3-4 places: 6 BI - 2 people
5-8 places: 4 BI - 4 people
9-16 places (losers in the 3rd round): 2 BI - 8 people double the entry fee.
17-32 places (losers in the 2nd round): 0
33-64 places (losers in the 1st round): 0
All of this has nothing to do with the Vova Memorial Tournament; these are just some random thoughts.