crowdfunding scientific research

GIVE ME SOME MONEY…(PLEASE)

How to crowd fund your scientific research or at least part of it.

EEB MeetingNovember 9th, 2012

What is crowd funding you ask?

The solicitation of small donations from alarge number of people

for specific targetedprojects.

What else?

An old concept revitalized in the late nineties by the British band Marillion

Similar to micro-financing initiatives but with more flexibility

Revolutionized in 2009 by Kickstarter.com

How does it work? Platform. Dollar target for the campaign. Campaign length. Compelling story. Video. Rewards. Plan to get people to your

campaign.

This seems like an appropriate time for a cartoon

Kickstarter Supports creative projects of all sorts

Over $350 million has been pledged by more than 2.5 million people, funding more than 30,000 creative projects

All-or-nothing funding

Rewards for funders

http://www.kickstarter.com/

Indiegogo

Flexible funding

“All about allowing anybody to raise money for any idea”

Offers “perks” for funders

http://www.indigogo.com

Famous Campaigns Let’s Build a God Damn Tesla Museu

m

Robo Cop Statute in Detroit

Wait. What does this have to do with Science?

The current rate of funding for science proposals in the U.S. is ~20%. The current rate for funding statues of RoboCop in Detroit is 135% – to the tune of $67,436.

Decreases in Federal Funding

Why Crowd Fund Science?

Micro-donations will make hundreds of research projects possible, projects that otherwise would have to wait for funding or not be funded at all.

Research projects that are limited in scope and time and for which small dollars are required, can be made possible

Need more reasons?

Researchers will gain more visibility, connect with a wider audience of donors and enhance public knowledge of their work

Funds from donors can speed the process of investigation and lead to faster scientific breakthroughs

How about two more?

The general public has an easy and cost-effective way to advance scientific research that personally appeals to them.

People can be more engaged with ground-breaking research, by learning about and funding a scientist and his/her work.

Crowd Funding Platforms Dedicated to Science

Some success with Kickstarter

http://www.petridish.org

http://www.sciflies.com

SciFund Challenge

Petridish

Sample Project

5% fee

All or Nothing Funding

http://www.petridish.org

Sciflies

Sponsored by the University of South Florida

No fees

Famous user

Proposals are reviewed by an anonymous panel of scientific experts, adding prestige to the process

SciFund Challenge Sponsered by yet another platform, Rockethub.

Spearheaded by two ecologists in 2011

Uses a critical mass approach to crowd funding

Cohorts are given support and collective media coverage

Round three starts November 11th

http://scifundchallenge.org/

Some Past Examples Watching Clouds in the Cloud Forest

Healthy Trees, Diverse Forests

Success Rate

The basics:Round Days Projects Projects funded Percent funded Total raised1 45 49 10 20.4% $76,2302 31 75 33 44.0% $100,345

Keys to Success Contact everyone you know!

Take the time to make an engaging video

Make your project sound relatable and lay off the esoteric language!

Be realistic with your fundraising goals$100,000? Not so much…

Importance of Social Media

Helpful Resources http://

www.indiegogo.com/crowdfunding-tips#started

http://www.kickstarter.com/help/school#setting_your_goal

http://scifundchallenge.org/blog/category/about-the-challenge/

Potential Pitfalls Some worry that only projects with splashy

campaigns will be funded

Easier to generate interest in cute and cuddly animals than in the “Isoline Retrieval of Ozone in the Stratosphere”

Lack of Peer Review

“Dumbing down of science” to appeal to the general public

Something to Think About

“It is absolutely true that a few thousand dollars is not a lot of

money for a senior scientist. But if you are a graduate student, money

is much tighter and a few extra thousand dollars for your research

can make all the difference.”-Dr. Jai Ranganathan, Co-Funder Sci-Fund Challenge

The Future of Science?

http://scifundchallenge.org/blog/2012/05/09/crowdfunding-is-the-future-of-science/

Hack E-Science Librarianship Blog

For more information and lots of links!

http://hackescilibship.wordpress.com/2012/10/03/crowdfund-this/

For access to this presentation, please e-mail me at amelia.m.vaughan@gmail.com